[ DarkVeil ]
Twenty-four hours
with the lights off.
One flat price, nobody can see who bought or how much, and a certificate at the end proving it without naming anyone.
[ 01 / The problem ]
Why the lights go out.
A public buy is a broadcast
On an ordinary curve every purchase is visible the moment it is sent. Bots read the large ones and get in milliseconds ahead, and the person who was going to buy anyway pays more for having been slower.
Nothing to read, nothing to front-run
DarkVeil runs the first day of buying where none of it is visible, at one flat price for everyone. There is no ordering advantage to take, because there is no ordering to see and no price that moves.
Privacy that still proves itself
The window runs on Midnight, a chain built for private contracts, and the platform pays the gas. What it did is published afterwards on Cardano as a proof, so hidden does not have to mean take our word for it.
[ 02 / The clock ]
What happens, and when.
Six steps, timed from the moment the window opens. Every launch runs them in this order and a creator cannot change any of it.
-
T − 48h
Registration opens
A 48-hour window in which any wallet meeting all the eligibility conditions can register. Registering bonds about $50 of NIGHT, held on Midnight until after the buying window closes.
Open for 48 hours -
T − 2h
Registration freezes and slots are set
Registration closes for good, and every registered wallet is given the same base slot: the DarkVeil allocation divided equally between them. The 5% cap is applied here, and it counts DarkVeil and public buying together.
Base slot DV supply ÷ registered wallets -
T + 0h → T + 24h
The window is open
Every registered wallet can buy up to its base slot at the flat floor price P0. The price does not move, so arriving first is worth nothing. Buys execute on Midnight: no address, no amount and no participation figure is visible while it runs.
Participation rate, the amount committed, the number of active buyers and the forfeiture estimate are all hidden until close.
Entry price Flat P0, the same for every wallet -
T + 24h
The window closes and bonds settle
Bonds are returned in proportion to how much of its slot each wallet actually bought. A wallet that filled its slot gets everything back; a wallet that bought nothing gets nothing back.
NIGHT returned bonded × (bought ÷ allocated) -
T + 24h + ~10 min
The certificate is anchored on Cardano
A ZK Fair Launch Certificate is written to Cardano L1, where anyone can check it. It proves what the window did without revealing who was in it.
Anchored on Cardano L1, permanently -
After settlement
The public curve opens
Buying reopens to everyone on the quadratic curve, where the price climbs with each purchase. The 5% cap still applies and what a wallet bought during DarkVeil already counts against it.
Price from here Quadratic, rising per buy
Anyone can check this
- The creator bought 0 tokens during the window
- No wallet key exceeded the 5% cap
- Total committed, and total tokens distributed
- Total NIGHT returned and forfeited
- The exact open and close timestamps
Nobody ever sees this
- Individual wallet addresses
- Individual buy amounts
- Who took part at all
[ 03 / Who gets in ]
Who can register.
Every condition is checked before the window opens, and the platform publishes only a Merkle root of the wallets that passed. Your wallet proves it is in that list with a zero-knowledge proof, so registering never puts your address on chain.
Wallet age of at least 90 days
Read from your wallet's own Cardano transaction history. A wallet created for this launch does not qualify, which is what makes a second identity cost something.
At least $50 of NIGHT
Held at the block you register on, and bonded for the length of the window. How much comes back depends on how much of your slot you buy.
Not the creator, and not their wallet twice
The wallet that paid the launch fee is excluded, so is any wallet sharing its stake key, and so is one the creator has sent ADA to in the last 90 days.
[ 04 / The bond ]
What your NIGHT does.
Registering costs nothing if you follow through. The bond exists to stop wallets registering with no intention of buying, because every one of those makes everybody else's slot smaller.
NIGHT returned = NIGHT bonded × (tokens purchased ÷ tokens allocated)
You filled your slot
All of your NIGHT comes back.
You bought half of it
Half comes back. The other half goes to the platform wallet.
You registered and never bought
The whole bond is forfeited to the platform wallet.
The window itself failed
Too few wallets took part for the launch to proceed. Everybody gets their whole bond back, including the wallets that bought nothing.
[ 05 / A whole run ]
One window, end to end.
A launch of 1,000,000,000 tokens with a 15% DarkVeil allocation and 200 registered wallets. Every figure below follows from those.
15% of supply
150,000,000 ÷ 200
at the flat floor price of 0.000003 ADA
against a 5% ceiling
$50 worth at the time of registering
of 200 registered
Three wallets, three outcomes
- Tokens bought
- 750,000
- ADA spent
- 2.25
- Slot used
- 100%
- NIGHT returned
- 500
- NIGHT forfeited
- 0
- Tokens bought
- 375,000
- ADA spent
- 1.125
- Slot used
- 50%
- NIGHT returned
- 250
- NIGHT forfeited
- 250
- Tokens bought
- 0
- ADA spent
- 0
- Slot used
- 0%
- NIGHT returned
- 0
- NIGHT forfeited
- 500
What the certificate publishes
Private forever, and not recoverable from the proof
[ 06 / Simulator ]
Drag the slider. Watch the bond settle.
A worked $NOVA launch: 200 wallets registered, a 750,000-token base slot each, 500 NIGHT bonded. Your NIGHT comes back in proportion to how much of your allocation you actually buy.
Fully committed. Your entire 500 NIGHT bond returns to you.
Launch parameters
- Token
- $NOVA
- Total supply
- 1,000,000,000
- DV allocation
- 150,000,000
- Floor price P0
- 0.0001 ADA
- Wallets registered
- 200
- Base slot
- 750,000
- Cost to fill
- 75 ADA
- NIGHT bonded
- 500
See a window at each stage
Example launches, one per stage: registration open, the window running with everything redacted, settling, and claimable. Demonstration data, not live launches.
Live nowEvery launch running today
What is registering, what is trading and what has already graduated, filterable by chain and by state.