Contract safeguards

The FAQ explains what an IMO is in plain words. This page is for people who want the mechanics: what the contracts do when a swap, a basket token or a price source misbehaves. None of it needs any action from you.

Paying in an IMO

ETH and USDC are swapped into the IMO's quote token on Uniswap inside the deposit transaction. If the price moves more than 1% before it goes through, the whole transaction is cancelled and nothing is spent.
Deposits sit in the IMO contract and are final: they cannot be moved or withdrawn. They can only ever go back to the wallet that paid them: when your prospectus loses, when the soft cap is missed, when the IMO is over its hard cap (the unused part) or when it is cancelled.
In the final 6 hours no new prospectus can be filed but deposits can still be added, and a change of leader in the last hour extends the clock by an hour, up to one extra day. A runoff between the top two lasts 2 days.
If the winner is not launched within 3 days of the result, anyone can cancel the IMO and everyone takes their money back.

The launch

A market can only be launched through the IMO's own launch factory, which deploys the exact audited contracts (their code is fixed by its fingerprint when the factory is created) and has no owner.
In the same transaction the IMO contract checks every term of the market against the winning prospectus (name, supply, price, fees, strategic holdings and their shares, lock-ups, burn vault) and makes everyone's purchase at the IMO price. Any difference reverts everything, so no other copy of the market can be left open.

The basket

If a basket token cannot be bought or sold at a fair price (its pool dried up, it is paused, it blocks transfers or uses too much gas), that token is skipped and the trade goes through with the rest. Each basket token has a gas limit, and so do all strategic holdings together in one trade.
Holders can then vote the token out. A guardian, if the holders named one, can only pause buying it; nobody can take anything out of the basket.
A token written off by vote is final: it cannot be brought back in to move the price.
₸USD and the tokenized stock are fixed legs: no vote can change their weights or remove them.

Prices

The basket is valued with 15-minute average prices, read from pools that keep enough price history (at least 1,170 observations), so a trade in the same block cannot move them.
A buy is valued at the higher of the average and the current price of each basket token, so buying and selling straight away cannot take value from holders. A sell is paid what the basket really fetches.
Basket tokens are bought and sold only through a fixed list of main pools set when the launch factory is created, plus each strategic holding's own pool, which needs a minimum of liquidity and its own price history.

Governance

The market's only admin is its holders' governor: proposals open once the IMO backers' first tokens have unlocked, a change needs more yes than no and a 10% turnout measured on a slowly moving average of the circulating supply, and it applies 2 days after the vote.
The governor can only make the changes on its fixed list (strategic holdings and their routes, excluding a failing token, naming a guardian). It cannot touch the fee, the fee split, ₸USD, the stock or the basket's funds.

Audits

The contracts have been through several rounds of independent review by separate AI auditing agents, with every finding fixed or documented and a regression test for each. There is no third-party human audit yet. The full technical documentation and the source code will be published with the first production launch.