Initial Pons OfferingHow it works
IPO is a preset layer on top of the Pons family launchpad. Instead of a raise that drifts to whatever it happens to collect, every offering commits in advance to one of three numbers — and either hits it or refunds.
The smallest book that still clears the bar. Fastest to fill.
The default preset. A deeper book without stretching the raise.
Twice the starter. For books that want real depth on day one.
The rules of a raise
The preset is the close condition
An offering closes at the exact moment its preset is filled — not a wei more, not a wei less. There is no partial close and no way to lower the bar once the vault is deployed; the number is immutable in the contract.
Overshooting is safe
If your contribution is larger than the room left in the book, the vault takes only what fits and returns the rest in the same transaction. The last contributor never overpays for closing the raise.
Filled means settled
Once the preset is filled, the raise is closed and the whole amount settles to the dedicated wallet configured by the launchpad. Settlement is permissionless — anyone can trigger it, so nobody has to wait on a single operator.
Missed means refunded
If the window closes with the book short, refunds unlock and every contributor claims their exact contribution. Refunds are pull-based: each wallet claims its own, so one contract that rejects ETH cannot hold anyone else's money hostage.
- Cap
- Immutable
- Treasury
- Fixed at deploy
- Surplus
- Returned in-tx
- Settlement
- Permissionless
- Refunds
- Pull-based
- Creator access to funds
- None
- Operator withdrawal
- Enabled
A vault settles one of two ways: the full preset to the dedicated wallet, or refunds back to contributors. The offering's creator can cancel an open raise — which only ever opens refunds early — and can never withdraw contributions. The launchpad operator holds a withdrawal key over every vault, so that funds can never be stranded.
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