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# System prepended metadata

title: Token Launcher - Spec Summary

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# Token Launcher Spec Summary

## Key Features

- **Permissionless Token Launching**: Users can launch tokens without the need for centralized approval, promoting innovation and participation in the DeFi space.
- **Presale Mechanism**: A 24-hour presale window allows for initial funding to bootstrap a liquidity pool, provided a minimum threshold is met.
- **Non-transferable Tokens**: Participants receive non-transferable tokens during the presale, ensuring commitment to the project’s initial phase.
- **Scheduled Launches**: Tokens can be scheduled to launch at future dates, allowing for strategic planning and marketing.
- **Minimum Threshold**: A set minimum of 4.2 ETH ensures serious engagement and viability of the token’s launch.
- **Liquidity Pool Formation**: Post presale, an equivalent amount of tokens is minted alongside pooled funds to form a transferable token liquidity pair on Uniswap V3.
- **Fee Structure**: Less than 1% fee on presales contributes to the protocol's treasury for ongoing open-source development.


## Wireframes
![Screenshot from 2024-04-29 13-03-53](https://hackmd.io/_uploads/rJqWUOTWA.png)

## Technical walkthrough

The launcher uses the DAOhaus Moloch factory to create a "headless" DAO (no members). 
 - During summon 2 shamen are added, 1 from the yeeter protocol and another shaman is added to manage the LP creation. 
 - After the yeeter start date participants have 24 hrs to reach the 4.2 eth min threshold. 
 - Once 24 hr time period is over and threshold is met a LP position is created by the shaman which mints tokens, and transfers everything into a liquidity position. 
 - If the time period is not met or the threshold is not met people can exit at anytime.


![image](https://hackmd.io/_uploads/SyozatTZC.png)