Keep launches refundable fundraising on Solana

Keep deployed a full-stack fundraising launchpad on Solana that refunds every backer if a raise does not meet its success criteria, and does so without a custodial intermediary [DevTo]. The protocol mints a fixed-supply token split 60% to backers, 30% seeded into a Raydium constant-product market maker (CPMM) pool, and 10% to the founder with a 180-day vesting schedule. When the USDC target is hit, half of the raised USDC is paired with the 30% token allocation to bootstrap the Raydium pool; the other half remains a reserve. Two on-chain price checks occur at day 7 and day 30, each comparing a 1-hour TWAP against a gate set to 0.85× the launch price [GitHub]. If the gate holds, the raise succeeds and the reserve funds the project; if the gate fails, the LP is unwound, the token side is burned, and a ClaimPool refunds backers minus a time-decay haircut (5% at day 7, 15% at day 30). The ClaimPool distributes USDC pro-rata to token holders who retained their tokens through the failure window; tokens sold early are excluded, turning early dumping into a self-defeating move. All on-chain reads are exposed via the open-source @keep-coffee/sdk, which lets anyone verify raise state directly from the ledger [GitHub]. Keep's launchpad creates a transparent on-chain invariant that makes the refund economically viable while preventing flash-loan manipulation. By rewarding holders who stay through the price gate and penalizing early sellers, Keep flips the typical “dump-early, bag-hold” pattern of token launches. The protocol's automatic refund removes the need for a trusted custodian and aligns incentives between creators and supporters. Implementing a CPMM pool, TWAP oracle, and multi-stage claim logic within Solana's runtime limits demonstrates that the network can support sophisticated, non-custodial finance without sacrificing performance or security.