Flexible Refund Policy
ChainGPT Initial DEX Offering Refund System
Last updated
ChainGPT Initial DEX Offering Refund System
Last updated
ChainGPT.org
ChainGPT’s launchpad has been designed from the ground up with maximum security considerations on behalf of the users. As a mechanism to mitigate risks, protect against malicious activity, and align the behaviors of projects that get listed on the Launchpad, a novel refund policy has been implemented.
Immediately following the successful completion of an IDO, a grace period begins.
Grace periods will last anywhere from 7-14 days, as deemed necessary according to the risk evaluations conducted by ChainGPT Pad's administrative team. Under certain circumstances, this period may vary; if the grace period is outside of this range, clear communications about it shall be made available across all community social media channels.
For the duration of the grace period, Launchpad users/IDO participants will be presented with two options in their dashboard: “Claim” and “Refund”.
During any point within the grace period, users have the right to evaluate the market performance and inspect the team's intentions under greater scrutiny. Should any concerns (or personal circumstances) arise where the user no longer wants to participate in the token launch, they can withdraw from participation by simply selecting “Refund.” As soon as a user confirms a refund, the claim options will disappear, and after a short processing period, their initial contributions will be released directly back to their wallet addresses.
Be advised the inverse logic holds true for the "Claim" option. If at any point a user selects “Claim” they will secure their tokens and begin collecting their token allocations (via the predefined vesting schedule); which would result in the voiding of the refund option completely.
Participation confirmations are FINAL.
Once claimed, refunds are voided. Once refunded, claims are voided.
Refunds are 100% recouped; there are no penalties for using it.
Every tier/grade of participant, from bronze all the way up to diamond, qualifies for a refund on their committed funds, so long as they make their request within the allotted refund period time frame and do not claim before its expiry.
The presence of a Refund policy is intended to provide protection to both sides of the market's participants and uphold the high-quality standards and platform features of ChainGPT Pad.
First and foremost, the refunds protect the $CGPT community, minimizing (if not neutralizing) any malicious intents from IDO projects. At the same time, the added time pressures incentivize higher degrees of behavioral alignment for the projects. Moreover, these extended parameters act as metaphoric guard rails that deter lower-quality projects from even attempting to infiltrate the ChainGPT ecosystem.
Every IDO on the ChainGPT Launchpad has a qualitative assessment take place prior to listing that will, as part of its results, determine a “refund grace period”.
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