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How Feels Token Launches Work
A new market launches with three vaults. Each vault holds a fixed allocation of tokens. Users deposit SOL to acquire tokens through one of three paths. The paths offer different tradeoffs between immediacy and cost.
Spot Vault
The spot vault gives immediate exposure. Users deposit SOL and receive position tokens redeemable at any time for the underlying asset. The vault prices its supply through linear tick progression. Early buyers get lower prices. Later buyers move through higher ticks as supply depletes. After the warmup period ends, the vault deploys its capital to the JIT liquidity system.
Duration Vaults
The short-term vault offers a 7-day lock. The long-term vault offers a 49-day lock (durations may change). Both work the same way: deposit SOL, receive position tokens, wait for unlock. The starting price for each vault reflects the time value of money. Longer commitments get deeper discounts. After warmup, duration vault capital flows into duration-matched lending positions.
Price Discovery
Each vault moves through its ticks independently. Buying from one vault does not affect prices in the others. This creates parallel price discovery across all three durations. Users can compare current prices and choose based on how much they value immediate access versus cost savings.
The ordering is fixed: spot starts highest, short-term in the middle, long-term lowest. This forms a simple yield curve from the first block.
Warmup and Graduation
Every vault has a warmup period. During warmup the tick structure stays fixed. No capital deploys externally. This prevents gaming through early information advantages.
When warmup ends, each vault graduates. The spot vault sends capital to JIT. Duration vaults send capital to lending buckets matching their terms. Graduation is permissionless. Anyone can trigger it.
Creator Hook
Creators can perform an initial buy during deployment. The purchase executes atomically with market creation. The creator pays the same prices as everyone else. They only get priority in ordering, not preferential pricing. Creator buys are capped at 10% per vault and recorded in market metadata for transparency.
Three vaults. Three durations. Three price curves. One unified launch that seeds spot liquidity, short-term lending, and long-term lending from block one. Users self-select into the path that matches their conviction and time horizon.
https://x.com/FeelsSol/status/2002030590556791270
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We got an honorable mention from Colosseum 🤗. https://x.com/superteamde/status/1999861473900917124
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FeelsDEX on X suspended. Many such cases.
Appeal submitted. See you on the other side frens.
