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

# For Founders

Why you should raise on Lumena — and how it compares to the alternatives.

## Your options

If you're building something and need to raise community capital, you have a few paths available:

1. Raise from VCs and promise a token launch in 2–3 years
2. Launch a token on a bonding curve (Pump, Believe, etc.)
3. Do a traditional ICO with discretionary control of funds
4. Bootstrap without outside capital
5. **Raise on Lumena**

Only Lumena is purpose-built for raising capital from a community while maintaining trust through smart contract enforcement — on a fast, low-cost network.

### **Why VC funding creates misaligned incentives**

VC rounds are optimized for exits. Investors push for high-FDV TGEs to maximize their liquidity, which creates sell pressure that harms your community and your token's long-term health. The standard playbook is built for the first 90 days — not the next 5 years.

### **Why bonding curves hurt builders**

Platforms like [Pump.fun](http://Pump.fun) give you creator fees, but the median project earns \$10–100K; the tokens have no intrinsic value; snipers capture large supply percentages on launch; and you're left with traders rather than believers. There is no real community formation.

### **Why traditional ICOs have a trust problem**

A discretionary ICO — where you control funds directly — works if you've already earned significant trust. Most early-stage builders haven't. The default assumption from serious funders is rug risk. Smart contract escrow removes that assumption entirely.

## What Lumena gives you

* **Credibility by default.** Your funds are in escrow. Funders know you can't access them unless the target is hit. This is a stronger trust signal than any legal agreement.
* **A community, not just capital.** People who funded your raise have skin in your success. They become your first advocates, testers, and distribution channel.
* **Permissionless access.** No application, no committee, no gatekeeping. If you can build it and tell the story clearly, you can raise on Lumena.
* **An auditable track record.** Every on-chain action related to your raise is public and permanently verifiable.
* **Governance participation.** Your community can participate in the protocol's futarchy governance — giving them a meaningful ongoing role beyond just funding you.