> ## Documentation Index
> Fetch the complete documentation index at: https://docs.star.fun/llms.txt
> Use this file to discover all available pages before exploring further.

# Fundraising

<video src="https://mintcdn.com/star-a73a9f07/KEGQ_g3yY3FV4IZP/assets/bg_video.mp4?fit=max&auto=format&n=KEGQ_g3yY3FV4IZP&q=85&s=96223155d2e4335abb180b41ccaa4a5b" autoPlay loop muted className="page-video-300" data-path="assets/bg_video.mp4" />

An internet round raises USDC through a **dynamic market sale** - a live, public sale optimized for speed and price discovery. You raise an initial amount up front, then unlock more capital over time as your market cap grows. This page covers the raise economics and what happens once your token goes live.

## The raise

In an internet round you tokenize **a part of your company's equity** as a liquid, equity-backed token, then raise against it. That slice entitles you to more than the raise itself - you also receive automatic capital unlocks (up to **\$8.6M**) and **0.5% of every trade** (see [Founder economics](#founder-economics) below).

Pick the preset that fits your round - all three are self-serve. A larger target raises more up front and pushes your token to a higher **graduation market cap** (where the sale completes and your token migrates off the bonding curve into a live trading pool):

| Preset   | Raise target | Graduates at |
| -------- | ------------ | ------------ |
| Micro    | **\$10K**    | \~\$190K     |
| Standard | **\$25K**    | \~\$352K     |
| Pro      | **\$50K**    | \~\$622K     |

<Note>
  The **equity link** - the share of your equity the token is backed by - defaults to **10%** and is
  customizable in the flow, from a minimum of **1%** to a maximum of **30%**. Your graduation market
  cap prices that slice, so the link sets the **valuation you're raising at**: valuation =
  graduation market cap ÷ equity link. On the Standard preset (\~\$352K graduation cap), a 10% link
  implies a **\~\$3.5M** valuation; a 5% link implies **\~\$7M**.
</Note>

Token supply is fixed at **1,000,000,000** tokens (Solana SPL).

You can launch on [star.fun/raise](https://www.star.fun/raise) or through the CLI [via an AI agent](#launching-with-an-ai-agent).

## How the dynamic market sale works

Your raise runs as a **dynamic market sale on a bonding curve**. There's no fixed price: the token price rises as more is bought, so **earlier backers get a better price**. The sale is a live market - backers can **buy and sell throughout the raise** - and it **completes once it reaches its graduation market cap** (the figure in the table above).

The sale collects **more than the up-front capital you take home**. Your preset (say \$10K) is what reaches you; the round raises more than that, because it also funds:

* **\~\$7.5K for incorporation** with [Bedrock](/founders/ownership#bedrock) (your BVI company plus Cayman SPC), and
* **on-chain liquidity** - a reserve paired with tokens so your market has ample depth to trade against once the token is live.

## Token distribution

Your fixed 1B supply splits three ways:

| Allocation  | Share   | Purpose                                                          |
| ----------- | ------- | ---------------------------------------------------------------- |
| Public sale | **60%** | Sold to backers during the raise                                 |
| Team        | **20%** | Vests to your team, linearly over 9 months after a 3-month cliff |
| Liquidity   | **20%** | Seeds the trading pool when your token graduates off the curve   |

## Founder economics

As a founder, you receive value from three sources:

<Steps>
  <Step title="Initial raise">
    The up-front amount from your preset (\$10K / \$25K / \$50K), settled in USDC.
  </Step>

  <Step title="0.5% per trade">
    You earn **0.5% of every secondary trade** of your token, for as long as it trades. See
    [Fees](/founders/fees).
  </Step>

  <Step title="Automatic capital unlocks">
    More capital unlocks to your team as your market cap climbs through milestone bands (see below).
  </Step>
</Steps>

### Automatic capital unlocks

As your market cap grows, your raise **unlocks more capital automatically**. Portions of tokens are set aside as **positions higher up the price curve**; when demand pushes the price to that level, those positions are **automatically bought**, and the proceeds unlock to your team. You never have to sell manually or time the market - growth converts into funding on its own.

Unlocked capital reaches you in **weekly \$2,500 allowances**, and follows this schedule:

| Market cap | Capital unlocked (cumulative) |
| ---------- | ----------------------------- |
| \$2M       | \$10,000                      |
| \$10M      | \$200,000                     |
| \$20M      | \$775,000                     |
| \$40M      | \$1,900,000                   |
| \$80M      | \$4,200,000                   |
| **\$160M** | **\$8,600,000 (max)**         |

## Going live

Once the sale completes, your token goes live and becomes tradable across Solana venues.

### Trading

* Your token is live and tradable through any Solana DEX.
* You earn **0.5% per trade** (see [Fees](/founders/fees)).

### Treasury

Raised funds are held in your project **Squads treasury**. Larger expenditures are governed by [decision markets](/founders/ownership) - backers get a structured, board-like say over how treasury capital is spent.

### Receiving your allowance

Your weekly allowance lands in **the wallet you created the project with**. To withdraw, you can:

* **Send to any other Solana wallet**, or
* **Open a bank account with [Altitude](https://altitude.xyz)** - our preferred partner for stablecoin business banking, so you can send and receive both fiat and stablecoins.

### Editing your project

Manage everything about your project from the **founder dashboard** (open it from your user dashboard):

* **Edit your project info** anytime - description, website and links, hero/banner media, team members, and socials.
* Once the token is live, on-chain **metadata** (name, ticker, links) is updated through proposals.
* Find your token's **mint address** and **liquidity pool address** in the **Details** tab on your Star project page.

### Follow-on fundraising

You can raise again later through **proposal-approved minting** - issuing additional equity to the token to fund the next stage.

## Launching with an AI agent

Connect Star's official launch tooling ([`@star-factory/launch-cli`](https://www.npmjs.com/package/@star-factory/launch-cli)) to **Claude Code, Cursor, or any MCP-enabled agent** and ask it to launch your token on Star - a full internet round, straight from wherever you already work. The agent gathers your launch details, you authorize with your Star account in the browser, and Star derives your launch wallet, reserves a Star vanity mint, and runs the launch end to end. **Your agent never touches wallet secrets or keypairs** - and nothing launches until you approve the exact payload.

<Steps>
  <Step title="Connect the Star MCP server">
    For **Claude Code**:

    ```bash theme={null}
    claude mcp add star -- npx -y @star-factory/launch-cli mcp serve
    ```

    For **Cursor** (or any client with an `mcp.json`):

    ```json theme={null}
    {
      "mcpServers": {
        "star": {
          "command": "npx",
          "args": ["-y", "@star-factory/launch-cli", "mcp", "serve"]
        }
      }
    }
    ```
  </Step>

  <Step title="Ask your agent to launch">
    Say something like: *"Launch my token on Star - name My Startup, ticker MYSTAR, website
    mystartup.com, raising \$25K."* The agent starts a secure sign-in: open the link it shows, sign
    in with your Star account, and enter the code.
  </Step>

  <Step title="Approve the launch">
    The agent validates and previews the launch first, then shows you exactly what will be sent.
    Nothing goes out until you confirm.
  </Step>

  <Step title="Go live">
    The agent submits the launch, waits until your token is live, and reports your project link
    and launch id. Keep the launch id in case you ever need support.
  </Step>
</Steps>

A launch needs just a **name**, a **ticker** (letters and numbers), and a **website**, plus the **raise preset** you want - **\$10K** (default), **\$25K**, or **\$50K**. Your agent can also set your **equity link** (1-30%, default 10%) and pass your X username, description, elevator pitch, token utility, Telegram / Discord / GitHub links, and icon, banner, and demo-video URLs.

<Note>
  The preset picks how much your round raises up front - the same three self-serve tiers as the web
  flow - and the equity link picks how much equity the token is backed by, which sets the valuation
  you're raising at. Everything else (curve, economics) is fixed by the protocol preset. After
  launch, manage your project from the founder dashboard as usual.
</Note>

### Using the CLI directly

The same package is a full CLI if you'd rather run it yourself:

```bash theme={null}
npm install -g @star-factory/launch-cli

star launch login                # authorize this device via browser sign-in
star launch create --name "My Startup" --ticker MYSTAR \
  --website https://mystartup.com --preset 25k --dry-run   # preview, mutates nothing
star launch create --name "My Startup" --ticker MYSTAR \
  --website https://mystartup.com --preset 25k \
  --yes --wait-until live                      # launch for real
star launch status <launchId> --watch          # check status anytime
```

Run `star launch create --help` or see the [full command reference on npm](https://www.npmjs.com/package/@star-factory/launch-cli) for every flag.