@gala-chain/launchpad 1.0.14 → 1.0.16

package/src/chaincode/launchpad/callMemeTokenOut.ts

@@ -29,15 +29,26 @@ function calculateTokensPurchasable(
   nativeTokens: Decimal,
   totalTokensSold: Decimal,
   nativeTokenDecimals: number,
-  sellingTokenDecimals: number
+  sellingTokenDecimals: number,
+  adjustableSupplyMultiplier?: number
 ): [string, string] {
-  const basePrice = new Decimal(LaunchpadSale.BASE_PRICE);
-  const { exponentFactor, euler, decimals } = getBondingConstants();
+  const basePrice =
+    adjustableSupplyMultiplier && adjustableSupplyMultiplier > 0
+      ? new Decimal(LaunchpadSale.BASE_PRICE).dividedBy(adjustableSupplyMultiplier)
+      : new Decimal(LaunchpadSale.BASE_PRICE);
+
+  const { exponentFactor, euler, decimals } = getBondingConstants(adjustableSupplyMultiplier);
 
   // Round native tokens, then calculate tokens based on that rounded amount
   const roundedNativeTokens = nativeTokens.toDecimalPlaces(nativeTokenDecimals, Decimal.ROUND_UP);
 
-  // Calculate tokens purchasable: newTokens = (decimals / exponentFactor) * ln((nativeTokens * exponentFactor / basePrice) + e^(exponentFactor * totalTokensSold / decimals)) - totalTokensSold
+  // Calculate tokens purchasable:
+  // newTokens = (decimals / exponentFactor) *
+  // ln(
+  //   (nativeTokens * exponentFactor / basePrice) +
+  //   e^(exponentFactor * totalTokensSold / decimals)
+  // ) -
+  // totalTokensSold
   // Where:
   //   constant = nativeTokens * exponentFactor / basePrice
   //   exponent1 = exponentFactor * totalTokensSold / decimals
@@ -55,9 +66,13 @@ function calculateTokensPurchasable(
   const result = lnEthScaledBase.minus(totalTokensSold);
   let roundedResult = result.toDecimalPlaces(sellingTokenDecimals, Decimal.ROUND_DOWN);
 
-  // Cap total supply to 10 million
-  if (roundedResult.add(totalTokensSold).greaterThan(new Decimal("1e+7"))) {
-    roundedResult = new Decimal("1e+7").minus(new Decimal(totalTokensSold));
+  // Cap total supply
+  const supplyCap = adjustableSupplyMultiplier
+    ? new BigNumber(1e7).times(adjustableSupplyMultiplier).toString()
+    : "1e+7";
+
+  if (roundedResult.add(totalTokensSold).greaterThan(new Decimal(supplyCap))) {
+    roundedResult = new Decimal(supplyCap).minus(new Decimal(totalTokensSold));
   }
 
   return [roundedNativeTokens.toFixed(), roundedResult.toFixed()];
@@ -119,7 +134,8 @@ export async function callMemeTokenOut(
     nativeTokens,
     totalTokensSold,
     nativeTokenDecimals,
-    sellingTokenDecimals
+    sellingTokenDecimals,
+    sale?.adjustableSupplyMultiplier
   );
 
   // Fetch fee configuration and return result

package/src/chaincode/launchpad/callNativeTokenIn.ts

@@ -29,15 +29,25 @@ function calculateNativeTokensRequired(
   tokensToBuy: Decimal,
   totalTokensSold: Decimal,
   sellingTokenDecimals: number,
-  nativeTokenDecimals: number
+  nativeTokenDecimals: number,
+  adjustableSupplyMultiplier?: number
 ): [string, string] {
-  const basePrice = new Decimal(LaunchpadSale.BASE_PRICE);
-  const { exponentFactor, euler, decimals } = getBondingConstants();
+  const basePrice =
+    adjustableSupplyMultiplier && adjustableSupplyMultiplier > 0
+      ? new Decimal(LaunchpadSale.BASE_PRICE).dividedBy(adjustableSupplyMultiplier)
+      : new Decimal(LaunchpadSale.BASE_PRICE);
+
+  const { exponentFactor, euler, decimals } = getBondingConstants(adjustableSupplyMultiplier);
 
   // Round tokens first, then calculate native tokens based on that rounded amount
   const roundedTokensToBuy = tokensToBuy.toDecimalPlaces(sellingTokenDecimals, Decimal.ROUND_DOWN);
 
-  // Calculate native tokens required: price = (basePrice / exponentFactor) * (e^(exponentFactor * (totalTokensSold + tokensToBuy) / decimals) - e^(exponentFactor * totalTokensSold / decimals))
+  // Calculate native tokens required:
+  // price = (basePrice / exponentFactor) *
+  // (
+  //   e^(exponentFactor * (totalTokensSold + tokensToBuy) / decimals) -
+  //   e^(exponentFactor * totalTokensSold / decimals)
+  // )
   // Where:
   //   exponent1 = exponentFactor * (totalTokensSold + tokensToBuy) / decimals
   //   exponent2 = exponentFactor * totalTokensSold / decimals
@@ -81,13 +91,13 @@ export async function callNativeTokenIn(
   ctx: GalaChainContext,
   buyTokenDTO: ExactTokenQuantityDto
 ): Promise<TradeCalculationResDto> {
-  const sale = await fetchAndValidateSale(ctx, buyTokenDTO.vaultAddress);
+  const sale: LaunchpadSale = await fetchAndValidateSale(ctx, buyTokenDTO.vaultAddress);
   const totalTokensSold = new Decimal(sale.fetchTokensSold());
 
   let tokensToBuy = new Decimal(buyTokenDTO.tokenQuantity.toString());
 
   // Adjust tokensToBuy if user is trying to buy more tokens than the total supply
-  if (tokensToBuy.add(totalTokensSold).greaterThan(new Decimal("1e+7"))) {
+  if (tokensToBuy.add(totalTokensSold).greaterThan(new Decimal(sale.maxSupply.toString()))) {
     tokensToBuy = new Decimal(sale.sellingTokenQuantity);
   }
 
@@ -99,7 +109,8 @@ export async function callNativeTokenIn(
     tokensToBuy,
     totalTokensSold,
     sellingTokenDecimals,
-    nativeTokenDecimals
+    nativeTokenDecimals,
+    sale.adjustableSupplyMultiplier
   );
 
   const launchpadFeeAddressConfiguration = await fetchLaunchpadFeeAddress(ctx);

package/src/chaincode/launchpad/callNativeTokenOut.ts

@@ -29,13 +29,18 @@ function calculateNativeTokensReceived(
   sale: LaunchpadSale,
   tokensToSellBn: BigNumber,
   sellingTokenDecimals: number,
-  nativeTokenDecimals: number
+  nativeTokenDecimals: number,
+  adjustableSupplyMultiplier?: number
 ): [string, string] {
   const totalTokensSold = new Decimal(sale.fetchTokensSold());
 
   let tokensToSell = new Decimal(tokensToSellBn.toString());
-  const basePrice = new Decimal(LaunchpadSale.BASE_PRICE);
-  const { exponentFactor, euler, decimals } = getBondingConstants();
+  const basePrice =
+    adjustableSupplyMultiplier && adjustableSupplyMultiplier > 0
+      ? new Decimal(LaunchpadSale.BASE_PRICE).dividedBy(adjustableSupplyMultiplier)
+      : new Decimal(LaunchpadSale.BASE_PRICE);
+
+  const { exponentFactor, euler, decimals } = getBondingConstants(adjustableSupplyMultiplier);
 
   let newTotalTokensSold = totalTokensSold.minus(tokensToSell);
 
@@ -88,7 +93,8 @@ export async function callNativeTokenOut(
     sale,
     sellTokenDTO.tokenQuantity,
     sellingTokenDecimals,
-    nativeTokenDecimals
+    nativeTokenDecimals,
+    sale.adjustableSupplyMultiplier
   );
   const launchpadFeeAddressConfiguration = await fetchLaunchpadFeeAddress(ctx);
 

package/src/chaincode/launchpad/createSale.ts

@@ -12,7 +12,7 @@
  * See the License for the specific language governing permissions and
  * limitations under the License.
  */
-import { ConflictError, TokenInstanceKey, asValidUserAlias } from "@gala-chain/api";
+import { ConflictError, DefaultError, TokenInstanceKey, asValidUserAlias } from "@gala-chain/api";
 import {
   GalaChainContext,
   createTokenClass,
@@ -23,7 +23,13 @@ import {
 } from "@gala-chain/chaincode";
 import BigNumber from "bignumber.js";
 
-import { CreateSaleResDto, CreateTokenSaleDTO, LaunchpadSale, NativeTokenQuantityDto } from "../../api/types";
+import {
+  CreateSaleResDto,
+  CreateTokenSaleDTO,
+  LaunchpadSale,
+  NativeTokenQuantityDto,
+  SaleStatus
+} from "../../api/types";
 import { PreConditionFailedError } from "../../api/utils/error";
 import { buyWithNative } from "./buyWithNative";
 
@@ -80,6 +86,8 @@ export async function createSale(
     throw new ConflictError("This token and a sale associated with it already exists");
   }
 
+  const supplyCapMultiplier = launchpadDetails.adjustableSupplyMultiplier ?? 1;
+
   // Call createTokenClass
   await createTokenClass(ctx, {
     network: "GC",
@@ -90,8 +98,8 @@ export async function createSale(
     symbol: launchpadDetails.tokenSymbol,
     description: launchpadDetails.tokenDescription,
     image: launchpadDetails.tokenImage,
-    maxSupply: new BigNumber("2e+7"),
-    maxCapacity: new BigNumber("2e+7"),
+    maxSupply: new BigNumber("2e+7").times(supplyCapMultiplier),
+    maxCapacity: new BigNumber("2e+7").times(supplyCapMultiplier),
     totalMintAllowance: new BigNumber(0),
     totalSupply: new BigNumber(0),
     totalBurned: new BigNumber(0),
@@ -103,12 +111,13 @@ export async function createSale(
     tokenClassKey: tokenInstanceKey.getTokenClassKey(),
     tokenInstance: new BigNumber(0),
     owner: vaultAddress,
-    quantity: new BigNumber("2e+7")
+    quantity: new BigNumber("2e+7").times(supplyCapMultiplier)
   });
 
-  //Update token class to remove the calling user as an authority in the token class
+  // Update token class to remove the calling user as an authority in the token class
   await updateTokenClass(ctx, {
     tokenClass: tokenInstanceKey.getTokenClassKey(),
+    overwriteAuthorities: true,
     authorities: [vaultAddress]
   });
 
@@ -117,7 +126,9 @@ export async function createSale(
     vaultAddress,
     tokenInstanceKey,
     launchpadDetails.reverseBondingCurveConfiguration?.toChainObject(),
-    ctx.callingUser
+    ctx.callingUser,
+    undefined,
+    launchpadDetails.adjustableSupplyMultiplier
   );
 
   await putChainObject(ctx, launchpad);
@@ -131,6 +142,23 @@ export async function createSale(
     isSaleFinalized = tradeStatus.isFinalized;
   }
 
+  // handling the optional saleStartTime after the preBuyQuantity allows
+  // creators to still optionally specify a pre-buy even when a
+  // sale is marked Upcoming / Coming Soon.
+  // Otherwise `buyWithNative` would throw an error when validating the sale is active.
+  if (launchpadDetails.saleStartTime !== undefined) {
+    launchpad.saleStartTime = launchpadDetails.saleStartTime;
+
+    // handle edge case
+    // if a sale was immediately sold out with a pre-buy on creation,
+    // do not set the ended sale back to UPCOMING
+    if (launchpad.saleStatus !== SaleStatus.END) {
+      launchpad.saleStatus = SaleStatus.UPCOMING;
+    }
+
+    await putChainObject(ctx, launchpad);
+  }
+
   // Return the response object
   return {
     image: launchpadDetails.tokenImage,

package/src/chaincode/launchpad/finaliseSale.ts

@@ -203,8 +203,8 @@ function calculateFinalLaunchpadPrice(
   areTokensSorted: boolean
 ): { sqrtPrice: BigNumber; finalPrice: BigNumber } {
   const totalTokensSold = new Decimal(sale.fetchTokensSold());
-  const basePrice = new Decimal(LaunchpadSale.BASE_PRICE);
-  const { exponentFactor, euler, decimals } = getBondingConstants();
+  const basePrice = new Decimal(sale.basePrice.toString());
+  const { exponentFactor, euler, decimals } = getBondingConstants(sale.adjustableSupplyMultiplier);
 
   const exponent = exponentFactor.mul(totalTokensSold).div(decimals);
   const multiplicand = euler.pow(exponent);

package/src/chaincode/launchpad/sellExactToken.spec.ts

@@ -21,11 +21,11 @@ import {
   asValidUserAlias,
   randomUniqueKey
 } from "@gala-chain/api";
-import { currency, fixture, users } from "@gala-chain/test";
+import { currency, fixture, transactionSuccess, users } from "@gala-chain/test";
 import BigNumber from "bignumber.js";
 import { plainToInstance } from "class-transformer";
 
-import { ExactTokenQuantityDto, LaunchpadSale } from "../../api/types";
+import { ExactTokenQuantityDto, LaunchpadSale, TradeResDto } from "../../api/types";
 import { LaunchpadContract } from "../LaunchpadContract";
 import launchpadgala from "../test/launchpadgala";
 
@@ -204,4 +204,141 @@ describe("sellExactToken", () => {
     expect(response.Data?.inputQuantity).toBe("500");
     expect(new BigNumber(response.Data?.outputQuantity || "0").isPositive()).toBe(true);
   });
+
+  let galaPurchaseQtyDefaultSupply: BigNumber;
+
+  test("Adjustable supply: Single transaction yields expected value for default 10 Million supply", async () => {
+    // Given
+    const multiplier = undefined;
+
+    sale = new LaunchpadSale(
+      vaultAddress,
+      currencyInstance.instanceKeyObj(),
+      undefined,
+      users.testUser1.identityKey,
+      undefined,
+      multiplier
+    );
+
+    const { ctx, contract } = fixture(LaunchpadContract)
+      .registeredUsers(users.testUser1)
+      .savedState(
+        currencyClass,
+        currencyInstance,
+        launchpadGalaClass,
+        launchpadGalaInstance,
+        sale,
+        salelaunchpadGalaBalance,
+        saleCurrencyBalance,
+        userlaunchpadGalaBalance,
+        userCurrencyBalance
+      );
+
+    const buyDto = new ExactTokenQuantityDto(vaultAddress, new BigNumber("500"));
+
+    buyDto.uniqueKey = randomUniqueKey();
+    buyDto.sign(users.testUser1.privateKey);
+
+    const expectedBuyResponse = plainToInstance(TradeResDto, {
+      inputQuantity: "0.00825575",
+      totalFees: "0",
+      totalTokenSold: new BigNumber("500").toString(),
+      outputQuantity: new BigNumber("500").toString(),
+      tokenName: "AUTOMATEDTESTCOIN",
+      tradeType: "Buy",
+      uniqueKey: buyDto.uniqueKey,
+      vaultAddress: "service|GALA$Unit$none$none$launchpad",
+      userAddress: "client|testUser1",
+      isFinalized: false,
+      functionName: "BuyExactToken"
+    });
+
+    const sellDto = new ExactTokenQuantityDto(vaultAddress, new BigNumber("50"));
+    sellDto.uniqueKey = randomUniqueKey();
+    const signedDto = sellDto.signed(users.testUser1.privateKey);
+
+    // When
+    const buyRes = await contract.BuyExactToken(ctx, buyDto);
+
+    const sellRes = await contract.SellExactToken(ctx, signedDto);
+
+    // Then
+    expect(buyRes).toEqual(transactionSuccess(expectedBuyResponse));
+
+    expect(sellRes.Status).toBe(1);
+    expect(sellRes.Data?.inputQuantity).toBe("50");
+    expect(sellRes.Data?.outputQuantity).toBe("0.00082579");
+
+    galaPurchaseQtyDefaultSupply = new BigNumber(sellRes.Data?.outputQuantity ?? 0);
+  });
+
+  test("Adjustable supply: Single transaction yields expected quantity for 100x scaled 1 Billion supply", async () => {
+    // Given
+    const multiplier = 100;
+    const inputQty = new BigNumber("50").times(multiplier);
+
+    sale = new LaunchpadSale(
+      vaultAddress,
+      currencyInstance.instanceKeyObj(),
+      undefined,
+      users.testUser1.identityKey,
+      undefined,
+      multiplier
+    );
+
+    const { ctx, contract } = fixture(LaunchpadContract)
+      .registeredUsers(users.testUser1)
+      .savedState(
+        currencyClass,
+        currencyInstance,
+        launchpadGalaClass,
+        launchpadGalaInstance,
+        sale,
+        salelaunchpadGalaBalance,
+        saleCurrencyBalance,
+        userlaunchpadGalaBalance,
+        userCurrencyBalance
+      );
+
+    const buyDto = new ExactTokenQuantityDto(vaultAddress, new BigNumber("500").times(multiplier));
+
+    buyDto.uniqueKey = randomUniqueKey();
+    buyDto.sign(users.testUser1.privateKey);
+
+    const expectedBuyResponse = plainToInstance(TradeResDto, {
+      inputQuantity: "0.00825575",
+      totalFees: "0",
+      totalTokenSold: new BigNumber("500").times(multiplier).toString(),
+      outputQuantity: new BigNumber("500").times(multiplier).toString(),
+      tokenName: "AUTOMATEDTESTCOIN",
+      tradeType: "Buy",
+      uniqueKey: buyDto.uniqueKey,
+      vaultAddress: "service|GALA$Unit$none$none$launchpad",
+      userAddress: "client|testUser1",
+      isFinalized: false,
+      functionName: "BuyExactToken"
+    });
+
+    const sellDto = new ExactTokenQuantityDto(vaultAddress, inputQty);
+    sellDto.uniqueKey = randomUniqueKey();
+    const signedDto = sellDto.signed(users.testUser1.privateKey);
+
+    // When
+    const buyRes = await contract.BuyExactToken(ctx, buyDto);
+
+    const sellRes = await contract.SellExactToken(ctx, signedDto);
+
+    // Then
+    expect(buyRes).toEqual(transactionSuccess(expectedBuyResponse));
+
+    expect(sellRes.Status).toBe(1);
+    expect(sellRes.Data?.inputQuantity).toBe(inputQty.toString());
+    expect(sellRes.Data?.outputQuantity).toBe("0.00082579");
+
+    const galaPurchaseQty100xSupply = new BigNumber(sellRes.Data?.outputQuantity ?? -1);
+
+    // Compared to the previous test where the Launchpad has the default 10 Million supply,
+    // We expect the Meme token Qty to scale 100x and the Gala Qty to remain the same
+    expect(galaPurchaseQtyDefaultSupply).toEqual(galaPurchaseQty100xSupply);
+  });
 });

package/src/chaincode/launchpad/sellExactToken.ts

@@ -58,7 +58,7 @@ export async function sellExactToken(
   const memeToken = sale.fetchSellingTokenInstanceKey();
 
   // Abort if the vault doesn't have enough native tokens to pay the user
-  if (new BigNumber(sellTokenDTO.tokenQuantity).isGreaterThan(nativeTokensLeftInVault)) {
+  if (nativeTokensPayout.isGreaterThan(nativeTokensLeftInVault)) {
     throw new ValidationFailedError("Not enough GALA in sale contract to carry out this operation.");
   }
 

package/src/chaincode/launchpad/sellWithNative.spec.ts

@@ -26,7 +26,7 @@ import { currency, fixture, transactionError, transactionSuccess, users } from "
 import BigNumber from "bignumber.js";
 import { plainToInstance } from "class-transformer";
 
-import { LaunchpadSale, NativeTokenQuantityDto, TradeResDto } from "../../api/types";
+import { ExactTokenQuantityDto, LaunchpadSale, NativeTokenQuantityDto, TradeResDto } from "../../api/types";
 import { LaunchpadContract } from "../LaunchpadContract";
 import launchpadgala from "../test/launchpadgala";
 
@@ -286,4 +286,160 @@ describe("sellWithNative", () => {
 
     // todo: check writes map, verify vault balance
   });
+
+  let galaPurchaseQtyDefaultSupply: BigNumber;
+  let memeSaleQtyDefaultSupply: BigNumber;
+
+  test("Adjustable supply: Single transaction yields expected value for default 10 Million supply", async () => {
+    // Given
+    const multiplier = undefined;
+    galaPurchaseQtyDefaultSupply = new BigNumber("0.00082579");
+    memeSaleQtyDefaultSupply = new BigNumber("49.999949130655");
+
+    sale = new LaunchpadSale(
+      vaultAddress,
+      currencyInstance.instanceKeyObj(),
+      undefined,
+      users.testUser1.identityKey,
+      undefined,
+      multiplier
+    );
+
+    const { ctx, contract } = fixture(LaunchpadContract)
+      .registeredUsers(users.testUser1)
+      .savedState(
+        currencyClass,
+        currencyInstance,
+        launchpadGalaClass,
+        launchpadGalaInstance,
+        sale,
+        salelaunchpadGalaBalance,
+        saleCurrencyBalance,
+        userlaunchpadGalaBalance,
+        userCurrencyBalance
+      );
+
+    const buyDto = new ExactTokenQuantityDto(vaultAddress, new BigNumber("500"));
+
+    buyDto.uniqueKey = randomUniqueKey();
+    buyDto.sign(users.testUser1.privateKey);
+
+    const expectedBuyResponse = plainToInstance(TradeResDto, {
+      inputQuantity: "0.00825575",
+      totalFees: "0",
+      totalTokenSold: new BigNumber("500").toString(),
+      outputQuantity: new BigNumber("500").toString(),
+      tokenName: "AUTOMATEDTESTCOIN",
+      tradeType: "Buy",
+      uniqueKey: buyDto.uniqueKey,
+      vaultAddress: "service|GALA$Unit$none$none$launchpad",
+      userAddress: "client|testUser1",
+      isFinalized: false,
+      functionName: "BuyExactToken"
+    });
+
+    const sellDto = new NativeTokenQuantityDto(vaultAddress, galaPurchaseQtyDefaultSupply);
+    sellDto.uniqueKey = randomUniqueKey();
+    const signedDto = sellDto.signed(users.testUser1.privateKey);
+
+    // When
+    const buyRes = await contract.BuyExactToken(ctx, buyDto);
+
+    const sellRes = await contract.SellWithNative(ctx, signedDto);
+
+    // Then
+    expect(buyRes).toEqual(transactionSuccess(expectedBuyResponse));
+
+    expect(sellRes).toEqual(
+      transactionSuccess(
+        expect.objectContaining({
+          outputQuantity: galaPurchaseQtyDefaultSupply.toString(),
+          // extra precision in set constant above accounts for loss of precision
+          // when increased by the multiplier below.
+          // here, we round to the token decimal places to match the internal logic
+          inputQuantity: memeSaleQtyDefaultSupply.decimalPlaces(10).toString()
+        })
+      )
+    );
+    galaPurchaseQtyDefaultSupply = new BigNumber(sellRes.Data?.outputQuantity ?? 0);
+  });
+
+  test("Adjustable supply: Single transaction yields expected quantity for 100x scaled 1 Billion supply", async () => {
+    // Given
+    const multiplier = 100;
+
+    // Same Gala purchase amount should buy 100x meme token output
+    const inputQty = new BigNumber(galaPurchaseQtyDefaultSupply);
+
+    sale = new LaunchpadSale(
+      vaultAddress,
+      currencyInstance.instanceKeyObj(),
+      undefined,
+      users.testUser1.identityKey,
+      undefined,
+      multiplier
+    );
+
+    const { ctx, contract } = fixture(LaunchpadContract)
+      .registeredUsers(users.testUser1)
+      .savedState(
+        currencyClass,
+        currencyInstance,
+        launchpadGalaClass,
+        launchpadGalaInstance,
+        sale,
+        salelaunchpadGalaBalance,
+        saleCurrencyBalance,
+        userlaunchpadGalaBalance,
+        userCurrencyBalance
+      );
+
+    const buyDto = new ExactTokenQuantityDto(vaultAddress, new BigNumber("500").times(multiplier));
+
+    buyDto.uniqueKey = randomUniqueKey();
+    buyDto.sign(users.testUser1.privateKey);
+
+    const expectedBuyResponse = plainToInstance(TradeResDto, {
+      inputQuantity: "0.00825575",
+      totalFees: "0",
+      totalTokenSold: new BigNumber("500").times(multiplier).toString(),
+      outputQuantity: new BigNumber("500").times(multiplier).toString(),
+      tokenName: "AUTOMATEDTESTCOIN",
+      tradeType: "Buy",
+      uniqueKey: buyDto.uniqueKey,
+      vaultAddress: "service|GALA$Unit$none$none$launchpad",
+      userAddress: "client|testUser1",
+      isFinalized: false,
+      functionName: "BuyExactToken"
+    });
+
+    const sellDto = new NativeTokenQuantityDto(vaultAddress, inputQty);
+    sellDto.uniqueKey = randomUniqueKey();
+    const signedDto = sellDto.signed(users.testUser1.privateKey);
+
+    // When
+    const buyRes = await contract.BuyExactToken(ctx, buyDto);
+
+    const sellRes = await contract.SellWithNative(ctx, signedDto);
+
+    // Then
+    expect(buyRes).toEqual(transactionSuccess(expectedBuyResponse));
+
+    expect(sellRes).toEqual(
+      transactionSuccess(
+        expect.objectContaining({
+          inputQuantity: memeSaleQtyDefaultSupply.times(multiplier).toString(),
+          outputQuantity: galaPurchaseQtyDefaultSupply.toString()
+        })
+      )
+    );
+
+    const galaPurchaseQty100xSupply = new BigNumber(sellRes.Data?.outputQuantity ?? -1);
+    const memeSaleQty100xSupply = new BigNumber(sellRes.Data?.inputQuantity ?? -1);
+
+    // Compared to the previous test where the Launchpad has the default 10 Million supply,
+    // We expect the Meme token Qty to scale 100x and the Gala Qty to remain the same
+    expect(galaPurchaseQtyDefaultSupply).toEqual(galaPurchaseQty100xSupply);
+    expect(memeSaleQtyDefaultSupply).toEqual(memeSaleQty100xSupply.dividedBy(multiplier));
+  });
 });

package/src/chaincode/utils/launchpadSaleUtils.ts

@@ -35,6 +35,18 @@ export async function fetchAndValidateSale(
   if (sale === undefined) {
     throw new NotFoundError("Sale record not found.");
   }
+
+  if (sale.saleStatus === SaleStatus.UPCOMING) {
+    if (sale.saleStartTime !== undefined && sale.saleStartTime > 0 && sale.saleStartTime < ctx.txUnixTime) {
+      sale.saleStatus = SaleStatus.ONGOING;
+    } else {
+      throw new DefaultError(
+        `Upcoming: This sale is coming soon. ` +
+          `${sale.saleStartTime ? "Sale starts at: " + sale.saleStartTime + " Unix time." : "Start time TBD."}`
+      );
+    }
+  }
+
   if (sale.saleStatus === SaleStatus.END) {
     throw new DefaultError("This sale has already ended.");
   }
@@ -42,9 +54,13 @@ export async function fetchAndValidateSale(
   return sale;
 }
 
-export function getBondingConstants() {
+export function getBondingConstants(multiplier?: number) {
+  const exponentFactor =
+    multiplier && multiplier > 0
+      ? new Decimal("1166069000000").times(1 / multiplier)
+      : new Decimal("1166069000000");
   return {
-    exponentFactor: new Decimal("1166069000000"), // exponent factor / b
+    exponentFactor: exponentFactor, // exponent factor / b
     euler: new Decimal("2.7182818284590452353602874713527"), // e
     decimals: new Decimal("1e+18") // scaling factor for decimals
   };