D17 DOCS
Concepts

Five rounds and an anchor

Price is discovered through published allocations and commitments rather than edited mid-launch.

D17 fixes five sale rounds before deployment. The creator chooses the sale-token share assigned to each round, each round's duration, and the round-1 WETH/price floors. Those values cannot be edited after the launch exists.

Round 1 is the anchor stage. If it meets the published success conditions, its committed WETH and token allocation establish an anchor price. Later round accounting is disciplined by that anchor rather than a creator changing the price while participants are committed.

Rounds can underfill. The mechanism carries unused sale allocation toward the final round so the five-round process can absorb uneven demand. If the required first-round conditions are not met, the launch fails and remaining participants retain a permanent full-refund path.

This is still market discovery, not a guarantee of a good price. The creator chooses important inputs, participants choose whether to commit, and the pool price can move after trading opens. The useful property is narrower: the launch cannot rewrite its own schedule or allocation in response to who arrives.