Clear DefinitionsPre-Sale
1 min read
Pronunciation
[pree-sayl]
Analogy
A pre‑sale is like a concert presale where fan club members buy tickets before the general public.
Definition
A token sale event open to a limited group—often early community members—prior to the main public offering, usually at a preferential rate.
Key Points Intro
Pre‑sales engage early supporters through:
Key Points
Whitelist access: Participants must register or qualify.
Preferential pricing: Slight discount to reward early backers.
Cap per address: Limits to prevent whales dominating.
Short duration: Runs days or hours before public sale.
Example
A DAO opens a pre‑sale for 100 000 tokens at $0.10 each, capped at 1 000 tokens per whitelisted address.
Technical Deep Dive
Pre‑sale contract enforces `onlyWhitelisted` modifier on `buyTokens()`, tracks per‑address cap via mapping, and transfers tokens or vests them according to schedule. Off‑chain KYC results used to populate whitelist Merkle tree.
Security Warning
Botting can overcrowd pre‑sale; use CAPTCHA and off‑chain identity checks to ensure fairness.
Caveat
Pre‑sale discounts can create arbitrage opportunities vs. public sale price.
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