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What It Is

Upside is a principal-protectedPrincipal ProtectionThe structural guarantee that investors can always redeem their deposited collateral via the perpetual PUT. Protection is proportional to reserve backing, not a fixed dollar guarantee. token fundraising protocol. Projects sell a portion of their token supply at a defined valuation, with built-in principal protectionPrincipal ProtectionThe structural guarantee that investors can always redeem their deposited collateral via the perpetual PUT. Protection is proportional to reserve backing, not a fixed dollar guarantee. for every investor.

A project says: “We are selling 30% of our token supply at a $50M valuation.” Investors depositDepositThe action of investing collateral into a raise. Collateral is received by the raise contract, routed to the yield strategy, and a pFT position NFT is minted. At deposit time, a live oracle price feed determines USD notional for FT allocation via deposit-time conversion. capital. That capital goes into yield-generatingYield StrategyProtocol used to generate yield on deposited capital. Aave V3 is the only supported strategy at launch. Yield funds the platform fee, project ecosystem budget, and buyback and burn. reservesReserveThe pool of collateral backing investor positions in a raise. In normal operation, each investor's proportional share equals their original deposit. In a shortfall, proportional settlement ensures fair distribution. Reserve accounting is per-raise (isolated). that back a perpetual PUTPerpetual PUTThe perpetual exit right attached to every investor position. Has no expiry, requires no approval, and does not depend on the project team being active. Exercised via redeem. right on each position. Investors can always get their money back by exercising their PUT, no expiry, no extra approval.

The platform also supports token generation events (TGEs), where a project launches and distributes tokens for the first time.

There is no platform token and no staking requirement.

Why It Exists

Crypto fundraising has a trust problem. Projects raise capital and investors hope the token holds value. When it doesn’t, investors lose everything.

Upside is designed so principal protectionPrincipal ProtectionThe structural guarantee that investors can always redeem their deposited collateral via the perpetual PUT. Protection is proportional to reserve backing, not a fixed dollar guarantee. is structural, not social. DepositedDepositThe action of investing collateral into a raise. Collateral is received by the raise contract, routed to the yield strategy, and a pFT position NFT is minted. At deposit time, a live oracle price feed determines USD notional for FT allocation via deposit-time conversion. capital is held in reserveReserveThe pool of collateral backing investor positions in a raise. In normal operation, each investor's proportional share equals their original deposit. In a shortfall, proportional settlement ensures fair distribution. Reserve accounting is per-raise (isolated)., routed into yield strategiesYield StrategyProtocol used to generate yield on deposited capital. Aave V3 is the only supported strategy at launch. Yield funds the platform fee, project ecosystem budget, and buyback and burn., and remains redeemableRedeemExercise principal protection and exit to collateral. Implemented by the divest contract function. Always available, permissionless, and on-chain. on-chain.

For projects, this is a credibility signal: “We are confident enough to offer structural downside protection.” For investors, it removes most project-token downside while preserving upside exposure.

How It Works (Lifecycle Overview)

1

Configure

Project sets token, price, collateral, and cap

2

Deposit

Investors deposit collateral into the raise

3

Deploy

Capital deployed to yield strategy

4

Yield

Funds platform fee, project treasury, and buyback/burn

5

Exit

Investors choose how to exit their position

Hold

Keep position, maintain upside exposure

Redeem

Get collateral back via PUT

Withdraw

Claim project tokens

At every stage, investors retain the right to exit to their collateral via the PUT mechanism. This right is perpetual, permissionless, and on-chain.

Who This Is For

Projects

• Teams launching initial token distribution at a defined valuation
• Existing protocols running structured additional rounds
• Teams signaling confidence through principal-protection mechanics
• Projects that want built-in tokenomics (yieldYieldReturns generated by the yield strategy on deposited collateral. Variable and not guaranteed. Distributed via the yield waterfall: platform fee (10%) to DAO, then net yield (90%) to the project.-funded buyback/burnBuyback and BurnMechanism where released capital from withdraws and yield surplus are used to buy back and burn project tokens, reducing circulating supply.) from day one

Investors

• Institutions requiring downside controls
• Funds and VCs preferring transparent on-chain raise structures
• Retail users seeking raise participation with principal-protection behavior
• DeFi users who value secondary market liquidity for position tokens

Reading Paths

I’m evaluating a raise as an investor

1. Guarantees — what is and isn’t protected
2. Investing and Positions — how depositsDepositThe action of investing collateral into a raise. Collateral is received by the raise contract, routed to the yield strategy, and a pFT position NFT is minted. At deposit time, a live oracle price feed determines USD notional for FT allocation via deposit-time conversion. and positions work
3. Hold, Redeem, and Withdraw — your three actions
4. Risk Model — what can go wrong

I’m a project setting up a raise

1. Raise Setup and Configuration — how to configure a raise
2. Capital Lifecycle — where capital goes and how buybackBuyback and BurnMechanism where released capital from withdraws and yield surplus are used to buy back and burn project tokens, reducing circulating supply./burn works
3. Yield Strategy — how yieldYieldReturns generated by the yield strategy on deposited collateral. Variable and not guaranteed. Distributed via the yield waterfall: platform fee (10%) to DAO, then net yield (90%) to the project. is generated and routed
4. Fees and Economics — platform feePlatform FeePercentage of yield taken by the platform (10% at launch), allocated to the DAO. No fee is charged on core user actions (deposit, redeem, withdraw). model

I’m a developer integrating or auditing

1. Contract Map — architecture and contract responsibilities
2. Formula Reference — on-chain math
3. Roles and Permissions — access control model
4. State, Events, and Interfaces — key state variables and terminology