WITHDRAWALS

Types of Withdrawal

There are 4 withdrawal types:

IDO Participant Initial Fund Withdrawal (Refund during IDO)
IDO Participant Purchased Token Withdrawal
Project Owner 3% Sales Fee Withdrawal (To NEAR Genesis DAO on AstroDao)
Project Owner IDO Collection Withdrawal

The following is a brief explanation for the types of withdrawals.

IDO Participants:

IDO Participant Initial Fund Withdrawal (Refund before IDO Completes)

IDO participants can only withdraw their funds while the event is active. After the IDO concludes, refunds are not available.

IDO Participant Purchased Token Withdrawal

Purchased Project Tokens are only available for withdrawal after any applicable cliff period. The cliff period is a duration that is specified by the project owners to control the rate at which the tokens are released to the participants of the IDO. Depending on the project, the token release might be completed all at once or released gradually based on preset distribution dates.

Project Owners

Project Owner Sales Fee Withdrawal

Sales Fee withdrawal (3% of sales proceeds) is sent to the NEAR Genesis DAO Treasury upon function call requiring Project Owner’s approval. NEAR Genesis Team will assist with any function calls or necessary steps.

Project Owner IDO Collection Withdrawal

Purchased tokens can only be withdrawn after the cliff period ends and/or gradually released based on the distribution dates mandated by the project owner.

How to Withdraw?

IDO PARTICIPANTS

IDO Participants who want to withdraw their funding tokens before end of IDO (refund*):

Select the project you participated in from the Live Listings section.
On the project's main listing page, click the Deposit button to expand the options and take note of the listing details before proceeding with the Withdraw function.
Click the Withdraw button to receive your tokens. Double-check your input and balance before confirming the transaction on the blockchain.

*Please be aware that refunds are not available once the sale period concludes.

IDO purchased Project Tokens Withdrawal may be subject terms set by Project Owner:

Cliff Period: Participants should be aware of any cliff periods set by project owners. A cliff period refers to a time period during which the tokens are subject to vesting and cannot be withdrawn. Please refer to the project's information for the exact duration of the cliff period.
Token Release Schedule: The withdrawal of IDO tokens aligns with the distribution dates outlined in the IDO token release schedule. Make sure to consult the schedule provided to determine when your tokens will be available for withdrawal.

PROJECT OWNERS

Project owners should be aware of the process for releasing sales proceeds upon completion of a token sale.

AstroDAO: The release of sales proceeds will be facilitated through NEAR Genesis DAO on AstroDAO. The NEAR Genesis DAO Council will be responsible for executing a series of function calls to initiate the release of the funds.
Function Calls: The NEAR Genesis Team collaborates with project owners to streamline the withdrawal process by advising the steps required to release funds raised during the sale.
Withdrawal Compliance: It is crucial for project owners to adhere to the guidelines and instructions provided by the NEAR Genesis Team regarding withdrawal compliance. This ensures a smooth and efficient process for releasing the sales proceeds.

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Last updated 1 year ago

How to Withdraw?

IDO PARTICIPANTS

IDO Participants who want to withdraw their funding tokens before end of IDO (refund*):

Select the project you participated in from the Live Listings section.

On the project's main listing page, click the Deposit button to expand the options and take note of the listing details before proceeding with the Withdraw function.

Click the Withdraw button to receive your tokens. Double-check your input and balance before confirming the transaction on the blockchain.

*Please be aware that refunds are not available once the sale period concludes.

IDO purchased Project Tokens Withdrawal may be subject terms set by Project Owner:

Cliff Period: Participants should be aware of any cliff periods set by project owners. A cliff period refers to a time period during which the tokens are subject to vesting and cannot be withdrawn. Please refer to the project's information for the exact duration of the cliff period.

Token Release Schedule: The withdrawal of IDO tokens aligns with the distribution dates outlined in the IDO token release schedule. Make sure to consult the schedule provided to determine when your tokens will be available for withdrawal.

PROJECT OWNERS

Project owners should be aware of the process for releasing sales proceeds upon completion of a token sale.

AstroDAO: The release of sales proceeds will be facilitated through NEAR Genesis DAO on AstroDAO. The NEAR Genesis DAO Council will be responsible for executing a series of function calls to initiate the release of the funds.

Function Calls: The NEAR Genesis Team collaborates with project owners to streamline the withdrawal process by advising the steps required to release funds raised during the sale.

Withdrawal Compliance: It is crucial for project owners to adhere to the guidelines and instructions provided by the NEAR Genesis Team regarding withdrawal compliance. This ensures a smooth and efficient process for releasing the sales proceeds.