One mint. A clear sequence.
Follow creation, live curve trading, graduation and the optional company connection.
Creator and trader guide / Reviewed September 16, 2026
- BUY
Reserve increases
Only the net payment-token amount adds to progress. Near completion, the curve may fill only part of an input.
- SELL
Reserve decreases
Selling sends tokens back through the curve. A token can move farther from its graduation target.
- REVIEW
Minimum received
Check the selected mint, payment token, fees, slippage and current route before signing.
Illustration of direction only. No example price or return is implied. Pending migration can temporarily interrupt trading.
Identity, payment token and quote.
Confirm the mint or token identity, the selected payment token and the current state. Prices and costs can change between reading a page and signing a transaction.
BEFORE THE WALLET / THESISCreators choose the token and pair. Traders buy or sell against the curve. Reserve progress determines completion; the same mint continues on the graduated market.
Creator and trader actions
Creator: prepare the launch
Connect a Solana wallet. Enter and review the name, symbol, description and image. Select CAPX or an eligible payment token.
Creator: handle first-use setup
A custom payment token may need a separate configuration transaction and rent. A completed configuration remains reusable even if the launch is later cancelled.
Creator: review and sign
Choose an optional Dev Buy, inspect the live SOL estimate and purchase quote, then sign the launch transaction. Check confirmation and the created token before retrying.
Trader: buy or sell
Use the token page, check input and output denomination, fees, slippage and minimum received, then sign the current quote. Net buys add reserve and sells reduce it.
Everyone: read migration state
The final curve buy may partially fill. Completion can show migration pending before DAMM v2 is ready. Wait for the route to become available; holders keep the same mint.
Creator: optionally connect Casa
Open Connect Casa and redeem the Launchpad bind code inside the company project. Publish a reviewed company face to provide context on Terminal.
The same sequence, whichever side you are on.
An intent signature is not a transfer.
The application can request a signed message to authorize an intent. A wallet transaction creates accounts or moves assets. Inspect each request and use the official application.
- Check the selected mint
- Read minimum received
- Keep SOL for network costs
Progress can move in both directions.
A curve target measures net payment-token reserve. Fees are excluded and sells reduce it. It is neither elapsed time nor a guaranteed future market value.
- CAPX target: 15,000 net
- Eligible custom token: 50,000,000 net
- No fixed graduation time
Binding and registration use different codes.
A Launchpad bind code is redeemed by capx/bind.mjs in the company project. A Terminal registration code is issued through capx/terminal-code.mjs and redeemed on Terminal /register.
- Binding joins a mint to a company
- Registration publishes or claims a page
- A company can have no token
Follow the route the page actually shows.
Supported v1 markets stay on Raydium CLMM with external Jupiter trading. The new DBC journey applies to current launches. CAPX/SOL also remains a separate Raydium market.
- Legacy label remains visible
- Current presets are not retroactive
- Verify canonical CAPX at /token
Before repeating an action
Check confirmation
A delayed response does not necessarily mean the transaction failed. Inspect the signature and resulting token state.
Distinguish setup and launch
A cancelled launch does not reverse a prior configuration transaction.
Use the current quote
Illustrated costs and fee examples explain the mechanism; the wallet’s current transaction defines the action.
Read the company separately
Face completeness, attestation checks and market value have different meanings.
Creation, quotes and what happens at graduation.
01Is there a four-hour presale?+
No. New launches trade on the curve immediately. Archived v1 presale descriptions are historical.
02Do I need to claim after graduation?+
No. The token mint stays the same. Wait for the graduated pool to be ready and use the available trading route.
03What if I cancel after payment-token setup?+
The setup transaction remains on-chain and its configuration can be reused. It is separate from creating your launch.
04Does connecting Casa publish updates?+
Initial binding is treated by the integration as go-public consent. A bound brain can send new signed work and an existing company face through its guarded session hook. Review that behavior before connecting.
Create a token. Inspect a market.
Open the production Launchpad to review a launch quote or trade an existing token.