Each Juicebox project can set a funding target, in ETH or USD. This amount can be a one-time goal, or a recurring goal that takes place every funding cycle. Payments do not close once a funding target is reached—instead, any additional payments create overflow. Once a funding cycle ends, any overflow can be used to meet the next cycle's funding target.
When contributors pay a Juicebox project, they receive tokens. Tokens can be redeemed to claim a proportional amount of the overflow. For example, a wallet with 1% of the total token supply can redeem those tokens to claim 1% of the overflow.