> ## Documentation Index
> Fetch the complete documentation index at: https://docs.windrose.market/llms.txt
> Use this file to discover all available pages before exploring further.
# How it works
> Launch a token, trade it on a curve, then move to a pool.
Every launch follows the same path:
**Launch ? trade on the curve ? reach the target ? trade in a pool.**
## 1. Launch
Choose a name, symbol, and currency. Windrose creates a fixed supply of 1 billion tokens and opens a market for them in that currency.
The currency cannot be changed later. You can also buy your token in the launch transaction.
## 2. Trade on the curve
The curve is the first market. Buys raise the price. Sells lower it. Every curve trade costs 1%: 30% goes to the creator and 70% goes to Windrose.
You can pay with the launch currency or with the chain's dollar. For a wrapped currency, the router converts dollars for you in the same transaction.
## 3. Reach the target
The curve closes when it raises its target. The final buy is capped and any unused payment is returned.
## 4. Move to the pool
Windrose takes a 2% graduation fee and adds the remaining funds plus the reserved tokens to a Uniswap v4 pool at the final curve price. The liquidity is locked, so it cannot be removed.
After graduation, trade the token in the pool using the launch currency.
## Who earns what
* **Creators** earn 30% of curve trading fees.
* **Traders** buy and sell before graduation, then trade in the pool.
* **Backers** deposit dollars into currency vaults and earn 80% of mint and redeem fees.