How a presale works

A Blast presale sells a new coin before it trades anywhere. You commit a quote coin, such as SUI, during a fixed window. When the window closes, the sale launches if it reached its raise target and is cancelled if it did not. A hard-capped sale can close earlier, as soon as it is full, if its team chose that; otherwise it runs to its end.

The four stages

Stage	What is happening	What you can do
Upcoming	The sale is published with a start time and all its terms.	Read the terms.
Open	The commitment window is running.	Commit, and top up later.
Funded	The sale ended and the target was met. Liquidity is about to move into a pool.	Wait. Your commitment stays locked.
Launched or Cancelled	The coin is trading, or the sale ended without launching.	Claim your tokens and any refund, or claim a full refund.

When the target is met

The sale launches into a new liquidity pool on Cetus or Bluefin, whichever the team chose. Anyone can trigger the launch. A Blast service does it as soon as the sale ends, usually within minutes. If nobody launches it within the sale’s liquidity window, anyone can cancel it and you get a full refund.

The launch transaction:

• creates the pool and seeds it with the sale’s liquidity,
• pays the team’s recipients their share of the raise and of the supply,
• opens claims for every buyer.

If more was committed than the target, every buyer is filled at the same rate and gets the rest back. See Your allocation.

When the target is missed

Every commitment becomes refundable in full, with no fees. The coin’s supply stays locked in the sale forever.

Two rules that never change

• You cannot withdraw early. Your coins stay in the sale until it launches or is cancelled. Commit only what you are prepared to lock.
• Terms are fixed before the sale opens. The window, target, eligibility rules, and every allocation are set at creation. The team cannot change them.