After launch

When the sale ends

A sale ends at the end of its window. A hard-capped sale that you set to close when full ends earlier, as soon as it reaches its target.

Target met. The sale launches. The contract and the developer pages call this step migration. One transaction:

1. pays Blast’s raise and token fees,
2. pays or vests every raise recipient and every token recipient,
3. creates the pool on your chosen exchange and seeds it with the liquidity shares,
4. locks the liquidity for good (on Cetus the position is burned and the vault keeps only its right to collect fees; on Bluefin the vault holds the position),
5. opens claims for every buyer.

If any step fails, the whole launch is undone and can be retried. A Blast service launches funded sales as soon as they end; anyone else can too. A sale that closes when full can launch in the same transaction that fills it, so whoever fills it can also buy first in the new pool.

Target missed. The sale is cancelled. Every buyer can claim a full refund. Your coin’s supply stays locked in the sale, and the coin cannot run another sale.

Target met, but not launched in time. If a funded sale has not launched by the end of its liquidity window, which counts from the moment the sale ended, anyone can cancel it, and buyers are refunded in full. Launch normally happens long before this.

Trading fees

Anyone can collect a pool’s trading fees at any time. Each collection:

• pays Blast its share,
• pays each of your fee recipients directly,
• keeps the quote-coin part of the holder allocation in the vault for reward rounds and pays its sale-token part to Blast’s governed treasury.

The split you set at creation never changes.

Sales that launch through a partner’s own venue, instead of Cetus or Bluefin, have no vault, so no trading-fee split and no holder rewards.

The owner pass

The creator receives the sale’s owner pass (the PresaleCap object). It can do two things:

• claim the small seeding leftovers once, after launch;
• be discarded, if the sale was cancelled.

It cannot change the sale, move funds, or touch the pool.

Keep recipients able to receive

Payments go straight to recipients at launch and at each fee collection. If a recipient cannot receive a coin, for example because a regulated coin’s issuer has frozen that address, the payment fails and so does the whole step. A frozen raise recipient can block the launch until the liquidity window ends. A frozen fee recipient blocks fee collection for that pool. Use addresses you control that can always receive both coins.