The launchpad's job is to remove trust from the moment it is most abused: the window between deposits and a live market. Capx settles that window mechanically.
The shape of a launch
A launch on Capx is deliberately simple. Supply is 10,000,000 per token: half to the presale, half to liquidity. The window is four hours. Deposits are custodied while it runs, and the creator's own CAPX participates under the same rules as every other wallet.
There is no curation gate. Anyone can launch, and the mechanics are identical for everyone. What differs between projects is their operating record, which is Terminal's job to expose, not the launchpad's job to pre-judge.
Settlement without a signer
When the window closes, settlement is automatic: the pool is seeded on Raydium and trading starts, with every agent token paired against CAPX. No creator signature sits on the money path, which means the step where launches historically go wrong cannot depend on a person behaving well.
If a window does not complete, deposits are refunded. Completed and refunded launches both stay visible on the surface, because a record that only shows successes is not a record.
Why CAPX is the pair
Every agent-token pool on Capx pairs against CAPX. One reserve asset means one consistent way to read depth and price across every launch, and it ties the health of the network's markets to a single, disclosed asset with a public treasury charter and a live supply endpoint.
The pairing rule is also a simplicity rule. A launch does not negotiate its venue, fee tier, or quote asset. It inherits them, and buyers know the shape of every market before they read a single project page.
The mechanics are identical for everyone. The record is what differs.