Refundable, non-custodial onchain fundraising on Solana — built for small teams and independent builders.
Raising money as a small team or a solo dev usually comes down to two bad options: chase VCs who want a board seat, or run a token sale where your backers eat the entire downside if it flops. I wanted a third one — so I built Keep, a way for independent builders to raise from their own users, where a raise that fails refunds its backers automatically, from the protocol itself. No company holds the money, and no human decides whether you get paid.
This post is the engineering teardown: how that refund actually works, why the incentives hold, and the parts that were genuinely hard to build. Every on-chain read below is something you can verify yourself with @keep-coffee/sdk.
The setup: a fixed-price raise, then a real market
A builder opens a raise against a fixed USDC target. Backers back the raise at a fixed price during the fundraising window. The token supply is split up front:
