Does depositing earlier get me a better allocation?
For a given credited BNB deposit set, no: allocation is computed once from aggregate demand at close, without rewarding transaction order. Entry conversion prices can still change the amount of BNB credited, and transactions must be included before the window closes.
What if I deposit more than the cap?
Only `A_max` = 0.179498118915564518 BNB is counted toward the target. The excess is not allocated and not lost — it comes back as part of your refund. Refunds are non-negative by construction.
Can I get around the cap with multiple wallets?
The cap applies per address. By itself it cannot establish whether multiple addresses belong to the same person. The clearing condition counts distinct addresses, not verified individuals; splitting deposits across wallets can change the capped demand.
Do I have to claim my tokens and my refund at the same time?
No. They are independent leaves of the same Merkle commitment. Claim either one, in any order, whenever you want. Claiming one never blocks or invalidates the other.
What happens if my Stock Token-to-BNB conversion fails at deposit?
The deposit does not enter the auction. A failed conversion is never credited to your deposit balance — this is a release-blocking invariant, not best-effort behaviour.
Failure and Refunds
What happens if the round misses its target?
Every effective contribution is set to zero, every participant's full deposit becomes refundable in BNB, and no LP is created. The round then closes permanently.
Can the team extend the window or lower the target to save a round?
No. There is no path that extends a window, reduces a target, or tops up an under-subscribed round. The only remedy is a new `roundId`.
What is the difference between a MONEY failure and a SEATS failure?
MONEY means not enough total capital was committed. SEATS means enough capital was committed, but it sat in too few addresses to reach the target under the 2% cap. Both resolve identically — full refund — but they tell a creator very different things about what to change.
Is "full refund" a guarantee against loss?
No. It describes how the clearing mechanism resolves a round that fails to meet its target — your deposit becomes refundable rather than being partially deployed. The refund is the credited BNB quantity; its dollar value can fall, and gas and conversion costs are not reimbursed. It also says nothing about the value of a token after a round clears and trading begins. See [Disclaimer](../legal/disclaimer.md).
Mechanism
Does the auction discover a price?
No, deliberately. FDV is fixed exogenously and the auction solves only for a fair allocation of a fixed token pool against observed demand. All price discovery is deferred to the DEX pool created at graduation.
Why is settlement computed off-chain?
Iterating every address's fill and refund on-chain in one transaction is gas-infeasible, and it reintroduces ordering-dependence — someone has to be first in the loop. Computing over the frozen deposit set and committing a single Merkle root avoids both. Because the largest-remainder procedure is fully deterministic and ties break by address order, anyone can recompute the root independently and check it.
Can a published Merkle root be changed?
Not in place. A correction requires pausing the round and publishing a new root under an incremented `snapshotVersion`, which is a distinct and externally visible commitment.
How are project tokens and Stock Tokens paired after the BSC migration?
Both use BNB as the quote asset: the project Canonical LP is Project Token/WBNB, and a related supported stock market is Stock Token/WBNB. Stock Tokens are retained as assets, in separate markets. See [Graduation & the Canonical LP](../protocol/graduation.md).
Creators
How many participants do I actually need?
`N_min = ⌈ V_target / A_max ⌉`. At a 50% raise share and the current FDV, that is 25 distinct addresses — and no amount of capital substitutes for them.
Can I change my creator tax or Stock Token after launch?
No. Both are fixed at project creation and immutable once the auction starts.
Why is my reserve capped at 2.9%?
That ceiling applies to memecoin launches. APP and ICM projects may reserve up to 29%, reflecting ongoing development to fund. The distinction is set at project creation.