Official announcement for IDO Refund Policy on Infinite Launch
First of all, Infinite Launch always listens and appreciates all feedback and contributions from our investors to help the platform become better everyday. After long time of discussion and considerations, Infinite Launch has come up with an official announcement for Refund Policy for all IDOs on our platform.
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:
Token has not been used for any trading activities
Token has not been transferred to another wallet.
- 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.
- 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.
- 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.
- 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.
Lock tier or buy Bony NFTs to receive slots for joining IDO on Infinite Launch.
Learn more: https://infinitelaunch.io/