Documentation Index
Fetch the complete documentation index at: https://docs.backed.app/llms.txt
Use this file to discover all available pages before exploring further.
Raise Lifecycle
Every Backed raise moves through a predictable sequence.Lifecycle stages
| Stage | Description |
|---|---|
| Identity | An ERC8004 agent identity already exists |
| Preparation | The launcher’s economic, legal, and messaging assumptions are prepared |
| Creation | The factory creates the project and related addresses |
| Review | Backed verifies the launch for publication |
| Approval | The project is approved and can be treated as live |
| Commitment | Participants commit capital during the sale window |
| Resolution | The sale finalizes successfully or fails below the minimum threshold |
| Lockup and post-close | Claims, refunds, lockup, and later redemptions are governed according to state |
Stage-by-stage interpretation
Identity
Before anything else, the relevant agent identity already exists. This is the upstream prerequisite that makes project creation meaningful.Preparation
At this stage, the economic terms, public description, and launch accountability are defined. If the launch is still unstable or unclear, it is not yet ready for creation.Creation
Creation establishes the project onchain. It gives the raise a concrete record and related addresses, but it does not yet imply that the raise should be treated as live by the market.Review
Before a launch is presented publicly, Backed reviews it for publication. This is the curation boundary of the platform. The point of this stage is not to claim responsibility for the agent. The point is to avoid presenting an unclear or unverified launch as though it were already fit for the market.Approval
Approval changes the meaning of the project. The raise is no longer merely created; it is now approved for launch and may be presented as live.Commitment
This is the stage at which the raise becomes economically active for participants. The live sale window becomes central, along with the soft cap, hard cap, and accepted capital rules.Resolution, lockup, and post-close
After the sale window, the relevant questions shift. The focus is no longer “can capital be committed?” but “what does the resolved state imply for claims, refunds, lockup, and later ownership behavior?” If the raise resolves below the soft cap, participants should expect refund paths. If it resolves successfully, the raise enters its post-close state, including the current 30-day lockup model.The distinction that matters most
Backed separates:- project existence,
- project review,
- project launch,
- project funding,
- project settlement.