Fair launches

The first minutes of a normal launch belong to bots. They buy in the same block the coin is created, before anyone can click, and sell into the buyers who come after.

A fair launch has no first block to win.

How it works#

1. The window opens. The creator picks a window of 1, 5, 15 or 60 minutes. The coin doesn't exist yet: our program will create it at the end.
2. You commit SOL. Open the fair launch page and commit any amount, up to a per-wallet limit if the creator set one. You can add more until the window closes.
3. The window closes. Everything committed buys the coin in one opening buy, at one price.
4. You get your coins, over the release. Each wallet gets coins in proportion to what it committed. Any SOL that wasn't used comes back straight away. Your coins unlock second by second over the release the creator picked (10, 15, 30 or 60 minutes) and land in your wallet automatically, about once a minute.

From the moment it opens, the coin trades like any other.

Why it's fair#

• Nobody can buy early. The coin's address belongs to our program, so it can't be created or traded until the window ends.
• Everyone pays the same. Whether you committed in the first second or the last, your price is the same.
• No speed race. There's nothing to snipe, so committing late costs you nothing.
• No race out either. Everyone's coins unlock at the same pace, so nobody can sell their whole share the moment it opens, ahead of everyone else.

The release#

Everyone in a fair launch paid the same price. Without a release, whoever sold first would get the best price and whoever sold last the worst. So committers' coins unlock gradually after the open:

• Second by second. Halfway through a 10-minute release, half your coins have unlocked. There are no steps where everyone's next chunk unlocks at once.
• Sent to you automatically. woop sends what's unlocked to every committer about once a minute, all at the same time. You can also press Collect now on the coin's page to get what's unlocked so far.
• Still earning. Coins waiting in the release count toward hold-to-earn as if they were already in your wallet. Selling or sending during an epoch drops that epoch's earnings, the same as for any holder.
• Unused SOL straight back. If the launch was oversubscribed, your unused SOL comes back the moment it opens. Only the coins are released.

The fair launch page shows the release before you commit.

If lots of people commit#

The opening buy is capped at 80% of what the coin needs to graduate, so a fair launch can't graduate in one go. If more than that is committed, everyone gets the same share of their commit used, and the rest comes back to them.

Example: 2 SOL is committed and the cap is 1.6 SOL. Everyone's commit is used at 80%, and 20% comes back.

Finding fair launches#

Open fair launches show at the top of Coins, with a countdown. Each one has its own page: the time left, how much has been committed, your commit, and, once it opens, the opening price and a link to the coin.

The coin's own page shows the fair launch until the window closes, with the commit panel where trading will be. Once it opens, that page shows the chart and trading, plus the release's progress and your unlocked coins.

If the creator set a creator lock, the page shows it before you commit: how much of the supply, and how it unlocks. The lock comes out of what the curve sells, Raydium holds it, and its clock starts at graduation.

If it never opens#

woop opens every sale within seconds of its window ending. If a sale were ever still unopened a day after its window, woop sends every wallet its SOL back automatically.

Fees#

The opening buy is a trade through woop, so it costs 2%, the same as buying on woop yourself. Holders, the creator and woop are paid from it like any trade. The woop rebate comes back with your refund. Committing costs only network fees.