Seedbed at a glance
Berry Seedbed will let the creator of a live token raise money under terms fixed in a contract. The creator puts part of the token supply into a pool and chooses the target market cap, the deadline and how big a bonus investors get. Investors buy in with ETH or USDC, at a set price below that target. If the pool succeeds, investors get their tokens and a permanent Uniswap V4 liquidity position is created.
The four stages of a pool
1. Deployed
The creator deploys the pool contract on Base. Every setting is fixed at this moment. Nothing can be edited afterwards.
2. Open
While a pool is open, investors can pay in. Each investor receives Pool Tokens in return. Pool Tokens cannot be transferred. They only record how much of the pool each investor owns.
3. Cooldown
Two things start the cooldown: the token reaches its target market cap, and the pool reaches its minimum fill. Unless the creator changes it, that minimum is 60% of what the pool aims to raise. The creator chooses a cooldown of 1 to 24 hours. Investors can still take their money out during it.
4. Filled or closed
A pool is filled when the cooldown ends and the minimum fill is still met. Then investors receive their tokens. Half of the money raised is paired with the token as a permanent Uniswap V4 LP, and the creator receives the other half.
If the deadline passes and the pool has not hit its goals, it closes. Then every investor gets their ETH back, and the creator gets the supply back minus a small protocol fee.
Words used in Seedbed
- Pool: One fundraise, run by its own contract.
- Open: The stage when investors can pay in.
- Cooldown: The last window to withdraw, after the conditions are met.
- Filled: The pool succeeded. Tokens are sent out and the LP is created.
- Closed: The pool missed its deadline. Investors are refunded.
- Payouts: ETH from the LP's trading fees, paid to investors after a pool fills.
- Pool Tokens: Receipts for an investor's share. They cannot be transferred.