# Campaign Lifecycle

Every PepFund campaign moves through a defined sequence of states. Understanding these states clarifies what is possible at each point for both researchers and backers.

***

## States

| State          | Description                                                        |
| -------------- | ------------------------------------------------------------------ |
| `Draft`        | Campaign created but not yet submitted for review                  |
| `Under Review` | Submitted for team review; not publicly visible                    |
| `Active`       | Live and accepting contributions                                   |
| `Funded`       | Funding goal reached; milestone releases in progress               |
| `Failed`       | Deadline passed without reaching the funding goal                  |
| `Complete`     | All milestones released; campaign concluded                        |
| `Cancelled`    | Researcher cancelled an active campaign; backers can claim refunds |

***

## State Transitions

```
Draft
  └── Under Review
        └── Active
              ├── Funded (goal reached before deadline)
              │     └── Complete (all milestones released)
              ├── Failed (deadline passed, goal not reached)
              └── Cancelled (researcher cancels)
```

***

## Draft

When a researcher submits the campaign wizard, the campaign is created onchain in a `Draft` state. At this point:

* The campaign PDA (program-derived address) is initialised on Solana
* The campaign token mint is created
* The USDC escrow account is created and empty
* The campaign is not publicly visible

The researcher can edit campaign details while in `Draft`. Once submitted for review, certain fields become immutable.

***

## Under Review

The campaign is submitted to PepFund for credibility review. During this period:

* The campaign is not visible to backers
* The researcher cannot change the funding goal, deadline, or milestone structure
* The research summary and team information can be updated based on reviewer feedback

Review typically completes within 24 to 72 hours. If the campaign does not meet scientific credibility standards, the researcher receives specific feedback and the campaign returns to `Draft`.

***

## Active

The campaign is live and publicly visible. Backers can contribute USDC. Key behaviour:

* Contributions are transferred immediately to the escrow PDA
* Research tokens are minted to backers immediately upon contribution
* The researcher can post onchain updates
* The funding progress counter updates in real time (indexed from Solana via Helius)
* The campaign remains `Active` until either the goal is reached or the deadline passes

***

## Funded

The campaign has reached its USDC goal. Key behaviour:

* No further contributions are accepted
* The first milestone's USDC tranche becomes available for researcher claim, subject to the milestone submission and review process
* The campaign's research tokens remain active and carry governance rights

Reaching the goal does not release all funds simultaneously. Each tranche requires a separate milestone submission and review cycle. See [Milestone-Gated Funding](/core-concepts/milestone-funding.md).

***

## Failed

The deadline passed before the campaign reached its funding goal. Key behaviour:

* No further contributions are accepted
* No funds are released to the researcher
* The escrow unlocks for full backer refunds
* Backers can claim their USDC from the portfolio page at any time
* Research tokens minted during the campaign have no further utility

{% hint style="info" %}
Refunds are available immediately when a campaign enters the `Failed` state. They do not expire. The escrow contract holds backer funds until each backer explicitly claims them.
{% endhint %}

***

## Complete

All milestones have been submitted, reviewed, and released. Key behaviour:

* The campaign is permanently closed
* All USDC has been transferred to the researcher
* Research tokens remain in backer wallets and carry post-campaign utility (IP access rights, revenue participation if applicable)
* The full onchain audit trail is permanently accessible

***

## Cancelled

A researcher can cancel an `Active` campaign at any time before the funding goal is reached. Cancellation:

* Immediately stops contributions
* Moves the escrow to a refundable state
* Does not refund backers automatically; each backer claims their refund from the portfolio page

Researchers who cancel campaigns with a significant percentage funded are expected to communicate clearly with their backer community via an onchain update before or concurrent with cancellation. Repeated unexplained cancellations may affect a researcher's standing on the platform.

***

## Immutable Fields

Once a campaign transitions from `Draft` to `Under Review`, the following fields are locked and cannot be changed:

* Funding goal
* Campaign deadline
* Milestone count, descriptions, and fund release percentages
* Research token total supply and backer allocation percentage

These fields are immutable to protect backers from having the terms of a campaign changed after they have contributed.


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