> ## Documentation Index
> Fetch the complete documentation index at: https://developer.tailwind.zone/llms.txt
> Use this file to discover all available pages before exploring further.
# the raise
## before raising
* An excellent DAO manager has spoken with the [daos.fun](http://daos.fun) team, but it is not required.
* They have applied to start a DAO on [daos.fun](http://daos.fun).
* They have determined what their mission is (this could just be an investment strategy or a focus on a particular ecosystem or niche).
* They are using a solid image and ticker (the best ones are meme-able).
## approved for raise on daos.fun
* All DAOs must be approved by the [daos.fun](http://daos.fun) team.
* Once approved, the DAO will be publicly visible on [daos.fun](http://daos.fun).
* Creators can promote their DAO and can start crafting their whitelist, but cannot yet accept SOL.
## the phases of a raise
* When the creator is ready, they can start the raise by clicking “Start Raise.” This starts the 7-day timer to complete the raise.
* There are 3 phases to a raise: VIP, Regular, and Public.
* When creators click “Start Raise,” they will need to commit to 10% of the raise as "collateral".
* Example: If the raise is 100 sol, the creator must contribute 10 sol.
* The creator gets DAO tokens for their commitment. The creator can commit more than 10%. This is to prevent spam and ensure the creator is aligned with the project.
* The VIP round will start immediately.
* VIP Commit: Party Round participants with “VIP” status get a protected phase.
* VIPs should be the strongest supporters of the DAO, diamond handed, and ready to contribute to the DAO.
* Regular Commit: These are people who are whitelisted via NFT or SPL tokens or people who have signed an invite link but not been marked as VIP.
* Creators should slightly overallocate this phase.
* The raise should be filled during this phase.
* Public Commit: This is for anyone to contribute as much as they want to the raise.
* We advise people not to use this phase unless absolutely necessary.
## the raise fills
* The on-chain timer stops as soon as the fund is filled.
* By clicking “Start Trading” the creator can sign a transaction at his convenience that:
* Moves the SOL from the fundraising contract to the DAO’s wallet (AUM).
* Deploys the liquidity pool for DAO tokens using Meteora’s DAMM V2 LP.
* Trading is now live for DAO token traders and for the creator.
## additional raise facts
* [daos.fun](http://daos.fun) uses a presale mechanism, not a bonding curve. Everyone gets the same price when they commit to a raise.
* All tokens must be sold — tokens cannot be airdropped or reserved.
* Raises have a hard cap that cannot be exceeded.
* If the raise goal is not met in 7 days, the raise fails.
* All users can withdraw their SOL without a fee.
* Users receive tokens immediately upon committing to the raise. Users own their tokens. They can transfer their tokens or make liquidity pools on other sites — even before the official liquidity pool is live.