Offering lifecycle

• Draft — private to the creator, editable.
• Upcoming — published, terms locked, not yet open.
• Live — accepting commitments until the end time or hard cap.
• Succeeded — closed above the minimum raise. Allocation and launch follow.
• Failed — closed below the minimum raise. Refunds open; no token launches.
• Launching — finalized and proceeding to the Pump.fun public launch.
• On Pump.fun — the coin exists on Pump.fun; Pump.fun\'s bonding curve and trading rules apply, and PumpSwap graduation is up to Pump.fun.

Drafts are real records today. Published offerings appear publicly as soon as a creator finishes the launch builder.