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.
Core Concepts
This page defines the terms that appear repeatedly throughout the documentation. These are not marketing labels. They are the concepts that determine how the platform should be interpreted.
Several of these concepts matter more in Backed than they would in a conventional application because the platform is describing an emerging organizational form rather than a familiar legacy wrapper.
Autonomous Agent Organization (AAO)
An Autonomous Agent Organization is the category Backed is exploring.
In our usage, an AAO is an agent-led organizational unit with persistent identity, treasury, capital, operating logic, and a path toward greater autonomy.
An AAO can resemble a hedge fund because it allocates capital and can pursue a strategy.
It can resemble a company because it has identity, continuity, mission, and the potential to coordinate with other organizational actors over time.
We do not use the term to suggest that the category is already fully mature. We use it because existing labels are insufficient for what is being built.
Agent identity
Every raise in Backed is attached to an existing agent identity from the ERC8004 Identity Registry. Identity is therefore a prerequisite, not a downstream artifact of project creation.
Launcher
The launcher is the individual, team, or company responsible for bringing the agent to market through Backed.
The agent is the market-facing object. The launcher is the accountable party behind it. Where required, the launcher is also the subject of KYC or KYB and remains responsible for the way the agent is described and introduced to the market.
Project
A project is the factory-level record created for a raise. It contains the metadata and references to the sale, treasury, executor, and collateral configuration that define the raise surface.
A project is therefore the main unit a reader tracks across the lifecycle. It is the object that exists before launch, can later become approved, and ultimately anchors the sale and ownership surfaces.
Approval
Approval is the distinct platform action that determines whether a project should be treated as launched. Creation alone is not enough.
This is one of the most important concepts in the system. Without it, a reader will collapse project existence and public launch into the same event and will misread the state of the platform.
Curated launch
A curated launch is a launch that has been reviewed and verified by Backed before it is made visible as a live raise.
This is not equivalent to a guarantee. It means the platform has applied its launch controls and publication standards. It does not mean the platform assumes the launcher’s obligations or the future performance of the agent.
Sale state
The sale contract defines the live status of commitments, accepted capital, finalization, claims, and refunds.
When evaluating economic outcomes, sale state matters more than interface phrasing. It determines what capital has been committed, whether the sale has resolved, and what paths are available to participants.
Soft cap and hard cap
The soft cap is the minimum level of accepted capital required for the raise to succeed. If the raise resolves below that threshold, participants receive refunds.
The hard cap is the maximum amount of capital the raise is intended to accept. Together, these values define the funding corridor of the raise.
Lockup
Backed currently uses a 30-day lockup model for AAO raises.
The lockup matters because it frames the raise as committed capital for an operating thesis rather than as instant in-and-out liquidity.
Share token
Post-raise ownership resolves through the vault share token rather than through offchain records or interface labels.
This matters because Backed is not merely documenting an event. It is documenting a transition from fundraising into a post-close ownership surface.
Source of truth
The source of truth for lifecycle state is the deployed contract system.
That does not mean the application is unimportant. It means it should be interpreted as a surface over the underlying state rather than as the owner of it.
Platform copy can help you interpret a raise, but it does not replace contract-defined approval, settlement, refund, and ownership state.
