# Target Price & Milestones

The target price is the core mechanism that drives Streamlock's lifecycle. When price hits the target, the pool freezes, an unlock window opens, and then a new higher target is set.

***

## What is a Target Price?

The target price is the milestone the community is grinding toward. When the market price reaches this target:

1. The pool enters a **freeze** (24h for milestone 1)
2. After freeze, an **unlock window** opens (48h for milestone 1)
3. During the unlock window, you can sell or withdraw
4. After the window closes, a new higher target is set

* **Below target**: GRIND phase — tokens locked, community is working
* **At or above target**: FREEZE triggers — milestone achieved

***

## Two Token Models

### Siren Tokens

The token creator sets **one target price** for everyone.

| Aspect          | Siren                                 |
| --------------- | ------------------------------------- |
| Who sets target | Token creator                         |
| Applies to      | All buyers                            |
| Visibility      | Shown on token page                   |
| Example         | Creator sets 0.001 SOL target for all |

**Best for**: Tokens with a clear price milestone everyone agrees on. This is the primary model on Streamlock.

### Ulysses Tokens

Each buyer sets **their own target price** when purchasing.

| Aspect          | Ulysses                          |
| --------------- | -------------------------------- |
| Who sets target | Individual buyer                 |
| Applies to      | Only that buyer's stream         |
| Visibility      | Only visible to the buyer        |
| Example         | Alice sets 0.001, Bob sets 0.002 |

**Best for**: Tokens where buyers have different conviction levels.

***

## Milestone Progression

Targets don't stay static. Each time a milestone is hit and the unlock window closes, the next target is calculated automatically:

```
Next Target = Current Target × (1 + 1/√milestone)
```

### How It Scales

| Milestone | Multiplier from Previous | Effect                  |
| --------- | ------------------------ | ----------------------- |
| 1 → 2     | 2.0×                     | Target doubles          |
| 2 → 3     | \~1.71×                  | Still aggressive growth |
| 3 → 4     | \~1.58×                  | Growth slowing          |
| 5 → 6     | \~1.45×                  | Moderate                |
| 10 → 11   | \~1.32×                  | Steady                  |

**Design rationale**: Early milestones require big moves (excitement phase). Later milestones require smaller relative moves (maturity phase). This prevents targets from becoming unreachable.

### Example: Starting at 0.0001 SOL

| Milestone | Target Price | % Gain Needed |
| --------- | ------------ | ------------- |
| 1         | 0.0001 SOL   | —             |
| 2         | 0.0002 SOL   | 100%          |
| 3         | 0.000342 SOL | 71%           |
| 4         | 0.000540 SOL | 58%           |
| 5         | 0.000810 SOL | 50%           |

***

## Setting Your Target (Ulysses)

When buying Ulysses tokens, consider:

### Lower Target Price

* Unlocks sooner (fewer milestones to grind)
* Less upside potential
* Good if you want liquidity faster

### Higher Target Price

* Takes longer to unlock
* More upside if price reaches it
* Good if you have strong conviction

### Sweet Spot

Most users set targets at a realistic price milestone - not too conservative (unlocks too fast) and not too aggressive (may never unlock).

***

## Price Tracking

Token prices are determined by the **on-chain bonding curve** (constant-product AMM):

* Price is derived from pool reserves (SOL and tokens)
* Calculated deterministically: `price = SOL_reserves / Token_reserves`
* Updated with every trade
* Target crossing is detected on-chain

***

## Progress Tracking

On each token page (Siren), you'll see:

```
Milestone 3 — Target Price Progress
━━━━━━━━━━━━━━━━━░░░░ 75%

Current: 0.000257 SOL
Target:  0.000342 SOL
To go:   33% gain needed
```

This shows how close the current price is to the current milestone target.

***

## What Happens at Target

When price reaches the milestone target:

1. **FREEZE starts**: Pool enters freeze period (no selling)
2. **UNLOCK opens**: After freeze, unlock window opens
3. **Your choice**: Sell tokens for SOL or withdraw to wallet
4. **Sell fees decay**: Start at \~25%, drop to \~1% by end of unlock window (see [Fee Structure](https://streamlock.gitbook.io/streamlock-docs/fees-and-economics/fee-structure))
5. **New milestone**: After unlock window closes, new higher target is set

Tokens that aren't sold during the unlock window remain locked until the next milestone's unlock window.

***

## Common Questions

### Can I change my target after buying?

No. Your target is set when you create the stream and cannot be modified.

### What if price never reaches the target?

Your tokens remain locked. Choose realistic targets based on genuine conviction.

### What if I miss the unlock window?

Your tokens stay locked until the next milestone cycle. Each subsequent unlock window is longer, giving you more time.

### Does the target ever go down?

No. Targets only increase with each milestone. The growth rate slows over time but never reverses.

### Is target price the same as take-profit?

Similar concept, but reaching target doesn't automatically sell — it opens an unlock window where you choose when to exit.

***

## Related

* [Freeze & Unlock Windows](https://streamlock.gitbook.io/streamlock-docs/core-concepts/freeze-and-unlock) - Phase timing and durations
* [Streaming Proceeds](https://streamlock.gitbook.io/streamlock-docs/core-concepts/streaming-proceeds) - How streams work
* [Buying Tokens](https://streamlock.gitbook.io/streamlock-docs/guides/buying-tokens) - Step-by-step buying guide