Refund Policy Implementation

Refund policy proposal to be put in place for tokens launching with Launchblock.

Goal

• Increase level of protection
• Increase the number of launched tokens we are seeing
• Create more trust and putting users first

Terms

1. Each project launched will require a vote on the DAO for community approval

2. Refund policy applies to some but not all listings, and is done so based on the DAO vote if the refund policy applies prior to the round starting.

3. Refund policy to apply to public rounds

4. LB won’t accept projects with very high valuations (FDV) or where multiples between the seed and the public rounds are more than 3x. The time gap between an IDO date and listing date must not exceed 3 weeks.

5. LB will require a minimum amount of liquidity pool (same as IMC as min)) and locked for at least 12 months.

6. LB requires any given project’s token to stay above its IDO price for the first two vesting periods. If the price falls 30% below IDO price and stays at that level for a week, then LB will refund the community on the amount remaining. Projects with a linear release schedule will have this rule for 3 months.

7. LB will send the funds raised from an IDO or private deals only according to the vesting schedule. Launchblock will no longer release 100% funds at a project’s listing.

** PLEASE add any feedback and have YOUR say on the refund policy.