Official announcement for IDO Refund Policy on Infinite Launch

Effective Date:

These refund terms shall become effective and shall apply for all IDOs from June 9th, 2022.

Applicable Scope:

Users/Investors join IDOs on Infinite Launch.

Terms and Conditions of Refund:

Refund policy shall apply if one or more events below happen:

  • IDO of the project poses a safety or security risk to users or the platform of Infinite Launch.
  • Any information provided by the project is incomplete, invalid, misleading, or untrue;
  • The token smart contract is reported to have errors that potentially affects the token minting & distribution process.
  • The token experiences selling pressure before the TGE.
  • In 48 hours after the TGE/token listing event, if the tokens price drops to equal or lower than that in the IDO.
  • Other events that indicate any potential risk to Infinite Launch’s IDO investors.

IDO Refund Mechanism:

Infinite Launch will refund 90% of valid token collected from users

  • Token price eligible for refund will be equal to the token IDO price.
  • Token collected from users and eligible for a refund must meet all of criteria below:
  • Refund processing timeline: 2–3 weeks from the date of official announcement for refund from Infinite Launch.

Refund Process:

Infinite Launch will be responsible for an official announcement for a refund to all users/investors. Next, Infinite Launch will collect all valid tokens within 5–7 days and start to airdrop the refund directly to users wallet.

Example:

Token Z meets one of the criteria for refund. IDO price of token Z is 1 BUSD. At TGE, token Z releases 20% of the token and there are 3 investors A, B, C who have bought 300 BUSD of token Z.

  1. Investor A holds both 20% unlocked token and 80% locked token. Hence, investor A will receive refund based on the formula: 90%*300 = 270 BUSD.
  2. Investor B holds 80% locked token and sold 20% unlocked token. Hence, investor A will receive refund based on the formula: 90%*( 300–300*20%) = 216 BUSD.
  3. Investor C holds both 20% unlocked token and 80% locked token. In addition, C bought 100 BUSD token after TGE. Hence, investor C will receive refund based on the formula: 90%*300 = 270 BUSD.

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Infinite Launch

Infinite Launch

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Infinite Launch — Cross-chain launchpad for disruptive Gamefi & NFT projects