[ Design ]
One private launch.
Any chain you like.
The curve, graduation, the anti-rug mechanics and where every fee goes. Every rule on this page is enforced by contract.
From creation to graduation
A Cardano Launch, end to end. A Midnight Launch follows the same eight stages with NIGHT in place of ADA and the LP held in a Midnight LP Escrow PSM. A Basic launch skips stages 2 to 5: its curve opens at a random moment between 1 and 24 hours after the mint, decided by Cardano block hashes, and the orders waiting fill in a shuffled opening round.
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01
Creator pays $10 (ADA or NIGHT equivalent)
The launch fee is paid whole to the platform wallet, collected at the current market rate. The launch is created on both chains.
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02
DarkVeil registration opens (48h)
Eligible wallets register, free. Registration requires a wallet holding at least $50 of ADA and no link to the creator’s wallet.
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03
Registration freezes (T−2h)
Slots are calculated: DV supply ÷ registered wallets = base allocation per wallet, with the 5% cumulative cap applied. Fewer than 15 registered wallets and DarkVeil fails here; the public curve opens instead.
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04
24h private buying window
All buying happens on Midnight Network. Amounts, addresses and participation rate are hidden until close. Flat price P0 for everyone.
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05
Settlement and ZK certificate
If fewer than half the registered wallets bought, DarkVeil fails and the public curve opens instead. Otherwise a ZK Fair Launch Certificate is anchored on Cardano L1: public proof, private data.
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06
Quadratic public curve opens
Price follows a quadratic curve, steeper than linear, rewarding earlier public buyers. DarkVeil buys count toward the 5% cap.
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07
100% sell-through, then graduation
Once every public curve token sells, the launch graduates. There is no partial graduation.
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08
LP seeded and locked
The LP reserve plus the ADA the curve raised is seeded into a Noctis Swap pool that opens at 1.1× the graduation price. LP locks for 1 year with no withdraw function.
Flat P0, then quadratic
DarkVeil buyers all enter at the flat floor price, so nobody has an advantage in the private window. Once the public curve opens the price accelerates quadratically.
DarkVeil: flat P0
Every registered wallet pays the same floor price for the whole 24-hour window. No price movement, no ordering advantage, nothing to read.
Public: P = P0 + k·x²
Price rises with every buy, steeper than linear, rewarding earlier public buyers. DarkVeil buys still count toward the 5% cap.
100% sell-through required
Graduation needs every public curve token sold. There is no partial graduation: the curve stays open until it fills or the creator closes the launch.
The pool opens at 1.1× the graduation price
The LP reserve is sized at mint from the ADA the curve will raise, so the pool opens at the same multiple of the graduation price whatever the creator, DarkVeil and staking allocations are. Everyone who bought on the curve is in profit the moment trading starts.
What happens at graduation
At 100% sell-through the contract seeds and locks liquidity with no action required from the creator.
The LP reserve is seeded as LP
The reserve pairs automatically with the ADA the curve raised in the launch’s own Noctis Swap pool. It is sized at mint so the pool opens at 1.1× the graduation price, roughly 15–24% of supply depending on the other allocations. Every launch starts on Noctis Swap: no other DEX is chosen at creation.
LP locked for 1 year
The position enters escrow immediately and cannot be accessed for 365 days. There is no withdraw function: the code path does not exist.
One move after 1 year
Once the lock expires, the liquidity may move once, to Minswap or WingRiders, in a single atomic transaction. The creator decides this from the Creator Dashboard, or the community wallet does after a passed CTO vote, and every change is public for 72 hours before it applies. A launch that never moves stays on Noctis Swap. The underlying ADA and tokens never appear in any wallet, and the new LP goes straight back into the escrow. A launch can move only to the DEXes offered when it was minted; a DEX added later is offered to launches minted after it.
The creator earns a pool royalty
The pool charges 1.0% to a royalty slot in its own datum, keyed to the creator’s wallet. Only their signature moves it, and a claim leaves the locked position untouched. A passed CTO vote rewrites that key to the community wallet, so the stream itself changes hands. The royalty is earned only on Noctis Swap, and only while the liquidity is there: Minswap and WingRiders have no royalty slot, so a move ends it.
Built-in protections for buyers
Every Noctis launch, on every chain, enforces these by contract. The creator cannot disable them.
5% cap per wallet
One wallet cannot take more than 5% of supply, counted across DarkVeil and the public curve together rather than starting fresh between them. It binds a wallet key, not a person: nothing on-chain can tell two keys apart from two people. What DarkVeil asks of every wallet is its entry requirement — at least $50 of ADA held when it applies — together with a bonded challenge anyone may raise against wallets that look linked.
Creator vesting
Creator tokens are locked for 90–365 days from graduation and released in full when that period ends, a period chosen at creation and unchangeable. A ZK proof verifies the creator held zero tokens at DarkVeil open.
LP permanence
The LP reserve goes straight into a locked escrow at graduation. There is no withdraw function. Not greyed out, not gated, simply absent. The one move allowed after the lock takes the liquidity to another DEX, never to a wallet, and the new LP comes straight back into the escrow.
Fee escrow with a silence lock
The creator’s 0.5% curve fee accrues in escrow, claimable whenever the creator chooses. Ninety consecutive days with no claim and no verified-channel activity makes the launch eligible for a CTO vote.
CTO governance
Ninety days after graduation, holders can propose a community takeover. A 72-hour private ballot on Midnight needs 5% quorum from at least 15 distinct voters, each capped at 1% of supply.
Staking rewards pool
Any launch can opt into a staking pool at creation. It is a separate allocation from the LP and the public sale, seeded automatically at graduation.
25% optional allocation
Declined by default. If the creator does not select it, the public bonding curve absorbs the difference.
Manual staking, daily rewards
Holding earns nothing; a holder must actively stake. A fixed daily emission splits pro-rata among everyone staked, accruing continuously from the moment a position opens — half a day earns half a day’s worth. Because there is no daily snapshot to arrive just before, the anti-gaming measure is a minimum holding time before a position can leave, capped at seven days.
3–5 year runway
The creator picks a duration at launch, no default. The pool depletes at a steady daily rate and can be topped up at any time to extend the runway.
5 ADA flat reward charge
Charged when rewards leave a pool, whichever way they leave: a claim, an exit carrying them out, or a top-up that compounds them. Staking costs nothing and a position that earned nothing pays nothing — the charge is on the rewards, not the action. A Midnight launch charges $1 of NIGHT at the oracle price instead.
When the community takes over
Ninety days after a launch graduates, its community can formally take control. The ballot is cast privately on Midnight, the result is anchored publicly on Cardano, and every consequence is enforced by contract.
Graduation
The bonding curve has fully sold through. The graduation transaction opens the Noctis Swap pool and locks the LP position for 365 days on Cardano L1. The curve escrow is now fixed at its final balance; from here the creator earns a 1.0% royalty charged at the pool itself.
Every outcome — passed, failed, or a voided fraudulent anchor — enters the same 90-day cooldown before another vote can be proposed.
The rules of the vote
72-hour private ballot
The entire vote is balloted privately on Midnight. Individual votes stay hidden; only the final tally is revealed once the ballot closes.
Voting is registered, not automatic
Holding the token is not enough to vote. A wallet registers first by signing a message with its own key, and that signature is checked against the address it claims — the address is read out of the signed payload rather than taken on trust, and the voting identity is derived from the verified signature, never from anything the caller hands over. Each additional wallet is a separate signed registration.
Creator-linked wallets do not count
Before each ballot every holder is checked against the creator two ways: whether they share a staking credential, and whether ADA moved directly between them in the previous 90 days. Anything linked is dropped from the tally before voting opens. A link the check misses can be reported afterwards by anyone willing to post a bond, paying a bounty if upheld — a public record and a deterrent rather than a reversal, because an anchored result is final.
5% quorum required
At least 5% of total supply must participate, verified against a governor-published balance-snapshot Merkle tree.
Every vote capped at 1%
Every voter’s weight, creator or not, is capped at 1% of supply. Because that is below quorum, no single wallet can satisfy quorum alone. Like the launch cap it binds a wallet key rather than a person; what prices a second voting identity is the registration above and the holding period below.
15 distinct voters minimum
Quorum is not just weight: at least 15 separate wallets must have voted. A handful of coordinated wallets cannot quietly clear quorum.
30-day minimum holding period
A balance only counts if the holder had it at least 30 days before the proposal started. Buying in to swing a vote does not work.
90-day cooldown
After any vote closes (pass, fail, or a voided fraudulent anchor) no new vote can be proposed against the same launch for 90 days.
Where the trade fee goes
Every bonding curve trade pays 1.5%, split two ways, and a buy also pays 0.5 ADA to the batcher that fills it. At graduation the shape changes: the creator’s share doubles, and the platform’s share of the trade fee drops to a tenth.
Bonding Curve Escrow
The 0.5% creator share accrues inside the curve contract while it is live. Claimed from the creator’s dashboard at any time: a claim takes the whole balance and pays a flat 5 ADA platform charge.
Closes permanently at graduation
Pool Royalty
A separate, ongoing stream. After graduation the fee changes shape: creator 1.0%, platform 0.1%, and 0.1% left in the pool’s own reserves. The creator’s 1.0% accrues in a royalty slot in the pool datum and is claimed by their signature alone. It is earned only on Noctis Swap, and only while the liquidity is there: if the liquidity moves to Minswap or WingRiders after the lock, it ends.
The creator’s share doubles · the pool deepens
After graduation every Noctis Swap trade pays the pool fee of 1.2%: 1.0% to the creator, 0.1% to the platform and 0.1% left in the pool. A swap trades straight against the pool in one transaction and also pays the platform 0.2% of its ADA side, at least 1 ADA and at most 4 ADA, with no batcher fee. A limit order, which waits for its price, pays a batcher fee of at most 1.5 ADA instead, and gets back whatever the fill does not spend.