[UPDATED] 24-Hour Refund and Unstaking Policy on GameFi.org - Way to Safeguard Community Investments



Jul 12, 20223 min read

[UPDATED] 24-Hour Refund and Unstaking Policy on GameFi.org - Way to Safeguard Community Investments

From April 27, 2023, GameFi.org has applied a new mechanism on the GameFi.org Launchpad: 24-hour refund policy. From now on, users have the full right to their investments by choosing to claim tokens or request a refund amount by themselves. The updated policy will take effect from 00:00 UTC, April 27, 2023 instead of the former 1-hour refund policy.

The GameFi.org Launchpad prioritizes users’ benefits and safety as a leading web3 gaming platform. All projects conducted public sales on the GameFi.org Launchpad must overcome extensive due diligence processes from our internal and external teams. We would like to introduce a 24-hour Refund Policy to increase users' benefits and confidence in investment decisions.

Details about the 24-hour Refund Policy

  1. Participants in public token sales on the GameFi.org Launchpad have the option of claiming their purchased tokens (claim request) or requesting a refund (refund request).
  2. The refund request time is only valid within 24 hours after the token's listing or claiming time, whichever is later.
  3. Users who have pressed the claiming button cannot request a refund for the rest amount.
  4. Users who request a refund cannot claim any tokens after the refund request has been successfully submitted. Within 72 hours, they can claim a total refund amount.
  5. We will charge an amount equivalent to one dollar as an operation fee for refunds at non-staking pools. Depending on the particular pool, this fee may vary.
  6. Refunds in pools that require staking are free of charge.
  7. Suppose there is a refund action from any other launchpad within 24 hours of token claiming time. In that case, GameFi.org will consider refunding all token purchasers.
  8. The refund request only applies to users who claim tokens on the GameFi.org website. Users cannot obtain a refund when purchased tokens are airdropped or claimed on other platforms.

Scope of application

The policy is applied to all users and investors joining IGOs on the GameFi.org Launchpad. However, only users participating in at least one pool from a project public sale have the right to request a refund in corresponding pools.

Effective date

The updated refund policy will take effect on all public sales held after 00:00 UTC, April 27, 2023.

Guidelines for claim and refund request

During one hour of the refund request time, users may enter the pool and request a claim or a refund by following the guidelines below:

1️⃣Access GameFi.org Launch at https://gamefi.org/igo

2️⃣Find and click on the pool you purchased public tokens

3️⃣Click on the [Claim] tab

4️⃣Request a claim or a refund

The image above is for illustration purposes only. It does not refer to any project.

4.1. If you choose to claim tokens

  • Click [Claim on GameFi.org] button
  • Claim your purchased tokens according to the vesting schedule

4.2. If you choose to request a refund

  • A confirmation window will appear. Click [Next step] button.
  • Choose the reason(s) for your refund request.
  • Click [Yes, I’m sure] or [No] to re-confirm your refund request

Improvement in $GAFI staking and unstaking policy

GameFi.org users must stake $GAFI tokens and achieve at least Rookie rank to join IGO pools. They must retain their rank from when purchasing tokens in an IGO pool or rank up until the pool’s vesting period ends to preserve their right to claim tokens in that pool. However, recognizing that the current policy published on December 13, 2021, is not suitable for the current market situation, we are implementing modifications based on community feedback.

Accordingly, GameFi rank maintenance is no longer required for all IGO pools on GameFi.org Launchpad. Users may still claim their purchased tokens after participating in a pool, regardless of whether they retain or lose their GameFi rank.

In addition, all IGO pools on GameFi.org Launchpad are now available for claiming by all pool participants, regardless of their GameFi rank.

➡️ Users can access the pools and then claim their tokens here: https://gamefi.org/igo

With the refund policy, we strive to safeguard the advantages and beliefs of our users who participate in IGOs on the GameFi.org Launchpad. We are receptive to community comments and continually enhancing our launchpad's functionality.

About GameFi.org

GameFi.org is an all-in-one discovery hub for games and metaverses. We aim to build digital communities and manage virtual economies for mainstream adoption. GameFi.org offers a suite of solutions covering the entire games and gamified projects lifecycle, following a vision of one digital platform, one virtual identity requiring zero blockchain knowledge. Visit https://gamefi.org/  for more information.

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