> For the complete documentation index, see [llms.txt](https://basedinc.gitbook.io/basedbid/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://basedinc.gitbook.io/basedbid/explainers/launch-explainers/what-is-a-pre-market.md).

# What is a Pre-Market?

Raise funds from your community before launching your token onto a DEX

<p align="center"><a href="/basedbid/projects-how-to-guides/how-to-create-a-pre-market.md" class="button primary" data-icon="bullseye">How to Create a Pre-Market</a><a href="https://www.based.bid/create/premarket" class="button primary" data-icon="play">Create a Pre-Market</a></p>

<details>

<summary><strong>What is a Pre-Market?</strong></summary>

A Pre-Market lets participants contribute a chosen asset, such as ETH or SOL, towards your token’s launch

You set the <mark style="color:yellow;">**minimum funding goal, maximum target and sale schedule**</mark><mark style="color:yellow;">,</mark> then decide how the raised funds are split between <mark style="color:yellow;">**launch liquidity and the creator**</mark>

You also choose how much token supply is committed to <mark style="color:yellow;">**participants and liquidity**</mark>, with the remaining supply allocated to the creator

</details>

<details>

<summary><strong>How Does a Pre-Market Work?</strong></summary>

* **Set your funding goals:** Choose the minimum raise needed for a successful launch and an optional maximum raise
* **Choose who can participate:** Open the sale publicly or give approved wallets access through whitelist tiers
* **Set contribution limits:** Configure a minimum buy and optional maximums for public buyers or whitelist tiers
* **Allocate the funds:** Choose the percentage of raised funds that seeds the DEX pool. The remaining share goes to the creator after fees
* **Finalise the Launch:** When the Pre-Market reaches its <mark style="color:yellow;">**hard cap**</mark><mark style="color:yellow;">,</mark> the <mark style="color:yellow;">**sale owner must finalise it**</mark> to launch the token on the selected DEX. Reaching the hard cap does not automatically launch the DEX market

*<mark style="color:$primary;">Example: You commit 95% of a 100-million-token supply to buyers and liquidity, leaving 5 million tokens for the creator. Selecting 50% Raise to Liquidity directs half of the raised funds towards the trading pool, with the remaining share allocated to the creator after fees</mark>*

<div data-with-frame="true"><figure><img src="https://3527517113-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FY8k5Pri8O9lw2SMUjS2v%2Fuploads%2FVshpFD9ZRoy6KH1OUcwD%2Fimage.png?alt=media&amp;token=2ef30108-b33d-4aa8-a05a-59e2a32372cb" alt=""><figcaption></figcaption></figure></div>

</details>

<details>

<summary><strong>What Can You Configure?</strong></summary>

* **Trading pair and DEX:** Choose the contribution asset and where your token’s DEX market launches
* **Team allocations:** Distribute the creator’s token share between team members or other wallets
* **Locks and vesting:** Keep allocations locked until a chosen date or release them in instalments
* **Fee Builder:** Configure how ongoing trading fees support your project after launch

<p align="center"><a href="/basedbid/explainers/launch-explainers/fee-builder.md" class="button primary" data-icon="screwdriver-wrench">Learn more about the Fee Builder</a></p>

</details>

<details>

<summary><strong>Why Choose a Pre-Market?</strong></summary>

* Give your community a way to participate <mark style="color:yellow;">**before the DEX launch**</mark>
* Set a <mark style="color:yellow;">**minimum funding requirement**</mark> for your project
* Raise funds for both <mark style="color:yellow;">**launch liquidity and the creator**</mark>, with a visible allocation
* Control participation through <mark style="color:yellow;">**whitelists, access windows and contribution limits**</mark>

</details>