Refunds & Withdrawals

CrowdMint is designed to ensure that both creators and donors have clear, secure, and transparent options for accessing or reclaiming their funds. The logic for withdrawals and refunds is entirely managed by smart contracts, with defined timelines to protect all parties involved.

Campaign Withdrawals (For Creators)

After a campaign concludes, the creator can request to withdraw the raised funds, depending on the campaign type:

Goal-Based (All or Nothing) Campaigns: The creator can only withdraw funds if the campaign successfully reaches or exceeds its funding goal by the deadline. If the goal is met, the creator has a 6-month grace period from the campaign's end date to withdraw the funds. During this period, a 0.5% fee is applied to the withdrawn amount, destined for the platform.

Example: If a campaign raised 1,000 USDC and the goal was met, the creator can withdraw 995 USDC (1,000 - 0.5% fee).

Flexible Campaigns: The creator can withdraw all funds raised, regardless of whether the goal was met or not. Similar to Goal-Based campaigns, the creator has a 6-month grace period from the campaign's end date to withdraw the funds. A 0.5% fee is applied to the withdrawn amount, destined for the platform.

Example: If a campaign raised 1,000 USDC and the goal was met, the creator can withdraw 995 USDC (1,000 - 0.5% fee).

What happens if the creator doesn't withdraw on time?

Should a creator not withdraw their campaign funds within the initial 6-month grace period following the campaign's conclusion, these resources are seamlessly and automatically transferred to the CrowdMint Vault. It's important to note that even after this transfer, creators retain the possibility to redeem their funds from the Vault within a 3-year period, though a higher fee will be applied. For detailed information on these fees, please refer to our Platform Fees documentation. This ensures their secure custody and continued contribution to the community's growth.

Refunds (For Donors)

The possibility of a refund depends exclusively on the campaign type:

Goal-Based (All or Nothing) Campaigns: Yes, refundable. If a Goal-Based campaign fails to reach its funding goal by the deadline, donors can request a refund of their contributions. Donors have a 6-month grace period from the campaign's end date to request a refund. During this period, the full donation amount is returned, no fees are applied.
Flexible Campaigns: Not refundable. In flexible campaigns, the creator receives all funds raised, regardless of whether the goal is met. Therefore, donations to flexible campaigns are not refundable.

What happens if the donor doesn't request a refund on time?

If a donor fails to request a refund for their contribution in a Goal-Based campaign that did not meet its goal, within the 6-month grace period after the campaign ends, these funds are automatically transferred to the CrowdMint Vault.

It's important to note that even after this transfer, donnors retain the possibility to claim their donations from the Vault within a 3-year period, though a fee will be applied. For detailed information on these fees, please refer to our Platform Fees documentation. This ensures their secure custody and continued contribution to the community's growth.