Every deal that is created will have a status. Here's what they are and what they mean:
Every new deal starts in the preparing state. It means that the deal is not yet published - and that you need to fill in the remaining information or click "Start fundraising"
A deal has been scheduled to launch at a set time.
The deal is live and investable. Investors can now go to the contribution page and invest.
You've stopped fundraising. Investors can no longer invest, and the deal is closed. You can now start making token distributions.
You've made your first distribution.
You've made the final distribution.
All investors were refunded.
The deal is archived, this can be used when no other status fits the current deal status. Investors no longer see the "archived" state. Instead, they see the deal as Refunded, Completed, Fundraising -- or whichever state the deal was in prior to being archived.