Documentation Index

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Presale Vault performs calculations in smallest token units. Display decimals are a UI concern; on-chain math uses integer arithmetic, checked overflow handling, and deterministic rounding.

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Constants

$$\text{BPS\_DENOMINATOR} = 10{,}000$$ $$\text{Q64\_SCALE} = 2^{64}$$ Deposit fee bps are capped at 5,000. Immediate release bps are capped at 10,000.

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Sale success

A sale is completed when the current timestamp is at or after presale_end_time and total net deposits meet the minimum cap: $$\text{completed} = \text{total\_deposit} \ge \text{presale\_minimum\_cap}$$ If total deposits are below the minimum cap after the sale ends, the sale is failed.

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Deposit fee

The deposit amount tracked for allocation excludes the deposit fee. If a buyer deposits a net amount D into a registry with fee rate f bps, the gross amount required before Token-2022 transfer fees is rounded up: $$\text{gross} = \left\lceil \frac{D \times 10{,}000}{10{,}000 - f} \right\rceil$$ $$\text{deposit\_fee} = \text{gross} - D$$ The fee is tracked separately on the escrow, registry, and presale. In Pro Rata, the fee attributable to refunded overflow quote is refundable.

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Fixed Price

Fixed Price mode stores q_price as a Q64.64 value: $$\text{q\_price} = \text{quote smallest units per base smallest unit} \times 2^{64}$$ For a net quote deposit D, bought base units are rounded down: $$\text{base\_bought} = \left\lfloor \frac{D \times 2^{64}}{\text{q\_price}} \right\rfloor$$ When the program needs the quote amount for a base amount, quote is rounded up: $$\text{quote\_needed} = \left\lceil \frac{\text{base\_amount} \times \text{q\_price}}{2^{64}} \right\rceil$$ For each registry, total sold base token is capped by registry supply: $$\text{registry\_sold} = \min(\text{base\_bought\_from\_registry\_deposits},\ \text{registry\_supply})$$ The buyer’s cumulative claimable amount is then based on their share of registry_sold, after applying the unlock schedule.

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FCFS allocation

For FCFS, each registry with at least one deposit sells its full registry supply. A buyer’s cumulative allocation before vesting is: $$\text{user\_allocation} = \left\lfloor \frac{\text{registry\_supply} \times \text{user\_deposit}} {\text{registry\_total\_deposit}} \right\rfloor$$ Registries with zero deposits sell zero base token, so their supply is unsold.

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Pro Rata allocation and overflow

Pro Rata uses the same registry-level allocation formula as FCFS: $$\text{user\_allocation} = \left\lfloor \frac{\text{registry\_supply} \times \text{user\_deposit}} {\text{registry\_total\_deposit}} \right\rfloor$$ Overflow quote is calculated at the presale level: $$\text{remaining\_quote} = \max(\text{total\_deposit} - \text{presale\_maximum\_cap},\ 0)$$ Each registry receives a share of that remaining quote: $$\text{registry\_remaining\_quote} = \left\lfloor \frac{\text{remaining\_quote} \times \text{registry\_total\_deposit}} {\text{presale\_total\_deposit}} \right\rfloor$$ Each buyer receives a share of the registry refund: $$\text{user\_refund} = \left\lfloor \frac{\text{registry\_remaining\_quote} \times \text{user\_deposit}} {\text{registry\_total\_deposit}} \right\rfloor$$ Refundable deposit fee for Pro Rata overflow is calculated proportionally from the registry’s collected fee: $$\text{registry\_refund\_fee} = \left\lfloor \frac{\text{registry\_total\_fee} \times \text{registry\_remaining\_quote}} {\text{registry\_total\_deposit}} \right\rfloor$$ $$\text{user\_refund\_fee} = \left\lfloor \frac{\text{user\_total\_fee} \times \text{registry\_refund\_fee}} {\text{registry\_total\_fee}} \right\rfloor$$

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Failed sale refund

If the sale fails, each buyer can withdraw their full remaining net deposit and deposit fee: $$\text{failed\_sale\_refund} = \text{user\_deposit} + \text{user\_deposit\_fee}$$ The creator can withdraw the base-token supply from a failed sale.

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Creator withdrawal

After a successful sale, the creator can withdraw quote token once: $$\text{creator\_quote\_withdrawal} = \min(\text{total\_deposit},\ \text{presale\_maximum\_cap})$$ Deposit fees are collected through a separate instruction after completion. For Fixed Price and FCFS, the collectible fee is total deposit fee. For Pro Rata, the collectible fee excludes refundable overflow fee.

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Unlock and vesting

First, split the sold allocation into immediate and vested portions: $$\text{immediate\_amount} = \left\lfloor \frac{\text{total\_sold\_token} \times \text{immediate\_release\_bps}} {10{,}000} \right\rfloor$$ $$\text{vested\_amount} = \text{total\_sold\_token} - \text{immediate\_amount}$$ The immediate portion is included only once the current timestamp is at or after immediate_release_timestamp. The vested portion starts at: $$\text{vesting\_start\_time} = \text{presale\_end\_time} + \text{lock\_duration}$$ and ends at: $$\text{vesting\_end\_time} = \text{vesting\_start\_time} + \text{vest\_duration}$$ If vest_duration is zero, the vested portion becomes claimable at vesting_start_time. Otherwise it unlocks linearly: $$\text{dripped\_vested\_amount} = \left\lfloor \frac{\text{vested\_amount} \times \min(\text{elapsed\_seconds},\ \text{vest\_duration})} {\text{vest\_duration}} \right\rfloor$$ The user’s cumulative claimable token is their deposit share of the released amounts: $$\text{user\_claimable} = \left\lfloor \frac{(\text{released\_immediate} + \text{dripped\_vested\_amount}) \times \text{user\_deposit}} {\text{registry\_total\_deposit}} \right\rfloor$$ The next claim is cumulative claimable minus already claimed and pending claim amounts.

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Transfer fees

If the base or quote mint is a supported Token-2022 mint with Transfer Fee enabled, transfers may require additional amount on deposit and may deliver less than the transferred amount on withdrawal or claim. Presale Vault accounts for transfer-fee-inclusive and transfer-fee-exclusive amounts when moving tokens, but allocation math is based on the net deposit tracked by the program.