how it works
a private round has always been a pdf and a promise. this one is a contract that already holds the money and already knows the terms.
four steps
the founder publishes the round
total supply, the price in eth, a soft cap, a hard cap, the treasury wallet that receives the raise, and the vesting schedule every contributor will be held to. all of it is written into the round contract when it is created, and none of it can be edited afterwards — not by the founder, not by us.
contributions sit in escrow
while the round is open, eth is held by the round contract itself, not by the founder. the hard cap is absolute: a contribution that would exceed it is rejected outright rather than partially filled.
the round closes one of two ways
soft cap met, and it finalizes — the raise goes to the declared treasury and the sold tokens move into vesting. soft cap missed, and it fails — every contributor withdraws their eth in full, with no fee taken from anyone.
tokens stream on the published schedule
after a successful round each backer registers their own vesting schedule once, then claims as it accrues. nobody can accelerate an unlock and nobody has to approve one.
what the escrow guarantees
Three things, and they are worth stating precisely because most of what a launchpad promises is not enforceable.
- Your eth is not the founder's until the soft cap is met. It is held by the round contract. There is no withdraw function for the founder and no admin key that could add one.
- A failed round refunds in full. Not pro-rata after costs, not minus a fee — the exact amount you put in. If the founder simply walks away, the refund still works, because it does not need anyone's cooperation.
- Finalizing is permissionless. Anyone can call it once the soft cap is met, so a founder cannot strand backers by refusing to close a round they no longer like.
What it does not guarantee: that the project is real, that the team can build, or that the token will be worth anything. Publishing a schedule on-chain makes a round legible. It does not make it safe.
how vesting actually behaves
Vesting accrues from the moment the round closes, and the cliff gates when you can take it. So nothing is claimable during the cliff, and the instant it passes, everything accrued up to that point unlocks at once — then it streams linearly to the end of the term.
With a 7-day cliff over 30 days that means: nothing for a week, then roughly 23% available in one step, then a smooth ramp to 100% on day 30. The curve on the front page draws exactly this, because it is drawing what the contract does.
Schedules are held per wallet, which is what lets the two classes coexist: public contributors share the round's published terms, while founder and team wallets can each be vested individually on terms declared at creation.
direct launches
Not built yet. A direct launch would skip the raise and open a pool immediately — no escrow, no soft cap, no refund path. It is described on the front page but the contract for it does not exist, so nothing on Venture can currently launch that way.
Everything above describes the round rail, which is the one that is built and tested. See the docs for exactly what is deployed.