> ## 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.

# Presales

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**Status: Available on request.** [Book a call](https://cal.com/adam-bergeman/founder-call) to configure one. CLI support is in development.

A presale is a fixed-price round for participants that you select: your waitlist, your users, your community. The presale and the [curve](/founders/fundraising) are two separate mechanisms. A round uses one or the other, not both.

The curve gives speed and immediate liquidity. The presale gives certainty: one price, a set window, a minimum target.

## Mechanics

| Parameter        | Behavior                                                          |
| ---------------- | ----------------------------------------------------------------- |
| Price            | Fixed. The same for each participant                              |
| Window           | A set deposit period, usually 5 days                              |
| Minimum target   | If the target is not met, all deposits are refunded automatically |
| Oversubscription | Excess deposits are refunded pro rata                             |
| Lock periods     | Configurable for each allocation tier                             |
| Token supply     | Fixed at 1,000,000,000                                            |

Participants deposit USDC during the window. Funds are held until launch. After a successful launch, participants claim their tokens.

## Pre-commit campaigns

You can open a pre-commit campaign before the round. Participants commit early and receive a **boost of allocation**: a larger share of the round. You go live with known demand.

## Parameters you set

| Parameter                | What it sets                                                          |
| ------------------------ | --------------------------------------------------------------------- |
| Minimum raise            | The floor. Below it, all participants are refunded                    |
| Treasury allowance       | Your operating budget, transferred on a schedule after the raise      |
| Public allocation %      | The share of supply sold. A smaller share sets a higher starting FDV  |
| Liquidity allocation     | A part of the raised USDC, reserved for post-launch trading liquidity |
| Team performance package | Team tokens that unlock at market-cap milestones                      |