Following the introduction of F5, Oxbull has been hard at work. With the ideology of F5 of relentlessly supporting projects with less than 5 people to grow from 0.5m FDV to 5M FDV valuation in 50 days with 5,000 fanatic community users through 5 keys milestones, the team is also proud and happy to unveil the complementing mechanism, Oxbull Immunity!
To find out more about what F5 is all about, read here.
The Idea Behind Immunity
For any IDOs with the “F5” label, Oxbull Immunity will be in play.
All IDO funds raised for any one particular F5 project will be held by the Oxbull team. Following the framework of 5 key milestones outlined in the F5 framework, 20% of the raised IDO funds will only be released to the project each time upon the achievement of a pre-defined milestone.
Should a project fails to achieve a milestone or complete all pre-defined milestones within 50 days, a forum would be held amongst investors to reassess the situation, and come to a consensus on the next steps to take.
The team firmly believes that such an approach would not only advocate engagement between investors and the project team, but it also generates momentum for the project to continue executing while establishing trust and collaboration with the investors.
The Idea of Immunity
So how does this provide investors with Immunity?
Should an F5 project dip under the IDO price:
- After 7 full days (168 hours), a FULL refund option would be made available ONLY for the IDO investors who have not initiated or made any token claims on the IDO project.
- After an IDO investor has initiated or made a successful token claim, a refund option will ONLY be available on the unclaimed portion ONLY IF the investor has not sold any tokens.
- No refunds would be available for IDO investors who have claimed and sold their tokens.
Why 7 days? this is so that projects will have a minimum amount of time to prove themselves, establish workflow, operations and communications, whilst also allowing projects with a time buffer to sort out minor problems, should they arise.
Please be reminded that investors who have exercised Refund will no longer be eligible to receive any vested tokens and/or benefits, if any, otherwise as originally scheduled.
Refunds will not be available for the following:
- Investors who did not participate in the IDO
- Investors’ tokens if they were acquired only on/after listing
- Investor who has dumped the initial release of the tokens and/or those who have sold and/or taken profits be it only a portion of the total tokens.
- Investors whose address are Blacklisted
- Transaction Fees and/or Gas incurred
- Projects where an alternate contract/project/contract address was released on their own
- losses arising from scam, frauds or projects with malicious intent
The aforementioned list is not exhaustive and can be further subject to change.