# Presale The Presale model includes a pre-determined token sale price, a listing price, a certain cap, and a preferred value of funds. This model makes the process more predictable and structured for all participants. Once the maximum amount has been raised, the sale automatically ends. * Presale rate: The exchange ratio of tokens against 1 TON for the initial sale. * Whitelist: If there is a whitelist of presale participants, this parameter can be activated for more flexibility in managing the sale process. * Soft cap and hard cap: These are the minimum and maximum amounts of funds to be collected. Soft cap should be at least 25% of the hard cap. * Refund types: You can select the method of refund in case the soft cap is not reached: either return the unsold tokens to the administrator or burn them. * Liquidity (%): This is the percentage of the collected funds that is allocated to provide liquidity to the trading pair in our liquidity pools. Minimum value is 51% and maximum value is 100%. * Listing rate: It is the starting price of a token when creating a liquidity pool. Usually this price is lower than the pre-sale price, which allows you to set a higher starting price. * Sale Start and End time: Here you can set the start and end date and time of the token sale. * Liquidity lockup (days): This is the pool's liquidity lockup period during which funds cannot be withdrawn. This can be any period such as 30 days or 1 year. * Vesting Contributor feature: An extra option that allows you to place limits on participants receiving purchased tokens during the initial period. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://gitbook.tonraffles.org/ton-raffles/modules/jetton-launchpad/presale.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.