Overview
A Sonar sale progresses through several phases, from initial setup through to final distribution. Understanding this lifecycle helps you plan your sale timeline and set expectations with participants.Phase 1: Setup
Before your sale opens:- Configure sale parameters: Define your target raise amount, token price or auction parameters, and settlement strategy in the Echo Founder Dashboard
- Set compliance requirements: Specify geographic restrictions, accreditation requirements, and commitment limits
- Smart contract deployment: For standard configurations, Sonar deploys the sale contract to your chosen blockchain (e.g., Ethereum, Base). Your project owns and controls the contract.
- Integrate with your frontend: Connect your website to Sonar’s APIs and the sale contract
For custom requirements beyond the standard configuration options, contact [email protected] to discuss your needs.
Phase 2: Onboarding / Commitment Phase
Once the sale opens:- Participants register: Users authenticate through Sonar. Existing verified users who meet your requirements can participate immediately; new users complete KYC/KYB verification
- Participants commit funds: Users connect their wallet and commit funds (e.g., USDC, USDT) to the smart contract
- Purchase permits authorize participation: Sonar issues signed permits that enforce your compliance rules at the contract level
- Commitments can be updated: Participants can increase their commitment during the sale (amounts can only go up, not down)
Phase 3: Cancellation Phase (Optional)
Some sales include an optional cancellation window between the commitment phase and settlement:- Preliminary allocations are shown: Based on the commitments received, preliminary allocations are calculated and displayed to participants
- Participants can review and cancel: Participants see their expected allocation and can choose to cancel their commitment if unsatisfied
- Cancellations receive immediate refunds: Participants who cancel receive their full commitment back
- Window closes: After the cancellation period ends, remaining commitments are locked and proceed to settlement
This phase might be relevant for regulatory compliance in certain jurisdictions.
By default, preliminary allocations shown during cancellation are not recomputed as participants cancel. If you need dynamic recomputation during the cancellation phase, contact [email protected] before your sale launches.
Phase 4: Settlement Phase
After the commitment phase closes (or after the cancellation window, if applicable):- Allocations are computed: Based on your chosen settlement strategy, final allocations are calculated offchain
- Allocations are recorded onchain: The computed allocations are written to the smart contract
- Settlement is finalized: Once all allocations are recorded, you sign off on the settlement, and proceeds become available for withdrawal
Phase 5: Distribution
After settlement is finalized:- You receive the proceeds: Accepted funds are withdrawn from the contract to your designated wallet (typically a multisig or custodian)
- Participants receive refunds: Any unallocated amounts are refunded to participants—either automatically or on request
- You distribute tokens: Token distribution happens outside the sale contract. You send tokens to participants based on their final allocations, which may include vesting schedules, lockup enforcement, or claim mechanisms