> ## Documentation Index
> Fetch the complete documentation index at: https://docs.jup.ag/llms.txt
> Use this file to discover all available pages before exploring further.

# Jupiter DTF

> A curated, on-chain token launch platform operated by Jupiter.

Jupiter Decentralized Token Formation (DTF) is a token launch platform built and operated by the Jupiter team. It provides a structured environment for vetted projects to launch their tokens directly to buyers, with full on-chain transparency on allocations and vesting.

<Info>
  DTF is fully managed by Jupiter. There are no external partners involved in the curation or launch process.
</Info>

## Why DTF exists

Token launches in crypto often lack transparency: unclear allocations, opaque vesting, and no guarantee of immediate liquidity. DTF addresses this by enforcing three things at the protocol level:

* **On-chain allocation locking.** All tokens not sold during the launch are locked using [Jup Lock](/user-docs/launch/lock), with vesting schedules enforced by the program.
* **Immediate liquidity.** A liquidity pool on Meteora is provisioned from a portion of the sale proceeds at Token Generation Event (TGE), so buyers have access to liquidity from day one.
* **Curated launches only.** Every project goes through a vetting process before being approved. Not every project that applies will launch on DTF.

## How it works at a high level

<Steps>
  <Step title="Project selection">
    The Jupiter team evaluates the project's market suitability, valuation, and commitment to transparency. Only projects deemed beneficial for the ecosystem are approved.
  </Step>

  <Step title="Launch configuration">
    The Jupiter team works with the project to define the launch structure: number of phases, pricing, vesting conditions, purchase limits, and eligibility criteria. These parameters vary per launch.
  </Step>

  <Step title="Token sale">
    The launch opens to buyers in one or more phases (e.g. whitelist, \$JUP stakers, public). Each phase can have its own price, vesting schedule, and purchase limits.
  </Step>

  <Step title="TGE and post-launch">
    At TGE, all non-sale token allocations are locked on-chain via Jup Lock. A liquidity pool is immediately provisioned on Meteora. Buyers can claim their tokens through the DTF interface, following any applicable vesting schedule.
  </Step>
</Steps>

## What DTF does not do

<Warning>
  Curation is not an endorsement. Approval to launch on DTF does not mean Jupiter guarantees the project's success, token value, or long-term viability. Buyers should always do their own research.
</Warning>

* DTF does not guarantee any return or token price performance.
* DTF does not remove the inherent risks of participating in a token launch.
* Vesting schedules mean some or all purchased tokens may not be immediately available.

## Key terms

| Term         | Definition                                                                                                              |
| ------------ | ----------------------------------------------------------------------------------------------------------------------- |
| **DTF**      | Decentralized Token Formation. Jupiter's curated token launch platform.                                                 |
| **TGE**      | Token Generation Event. The moment the token is created on-chain and allocations are distributed or locked.             |
| **Jup Lock** | Jupiter's on-chain token locking program, used to enforce vesting schedules for non-sale allocations.                   |
| **Phase**    | A distinct stage of a token sale (e.g. whitelist phase, staker phase, public phase). Each phase has its own parameters. |
| **Vesting**  | A schedule that controls when purchased or allocated tokens become claimable. Enforced on-chain by the presale program. |

<CardGroup cols={2}>
  <Card title="How a launch works" icon="rocket" href="/user-docs/launch/dtf/how-it-works">
    Detailed walkthrough of the launch process: phases, claiming, locking, and LP provisioning.
  </Card>

  <Card title="FAQ" icon="circle-question" href="/user-docs/launch/dtf/faq">
    Common questions about fees, eligibility, refunds, and risks.
  </Card>
</CardGroup>