November 07.
Hi There, all investors that purchased by crypto are fully refunded now. Remember that the refunds were made in USDT (BEP20 BNB smart chain). Check your wallet’s transactions for the refunds, they were made in 2 deposits of 50% or 1 of 100%.
Most of investors that purchased by card are fully refunded too. Investors that their purchases were older than 180 days received also deposits of USDT (BEP20 BNB smart chain). For investors that their purchases were not older than 180 days, the refunds have been done directly to your cards. In this case, there only a few investors that still need to access their paypal accounts and request for each transactions refund. The process to get refunded in the cards, normally gets some weeks (1-2 card invoices).
In case of any doubt, you can contact us by the email: contact@congcap.com
Thank you all for the cooperation and wish you all the best.
November 06.
Hello! Update on the refund plan:
-Investors that purchased by crypto: majority have already received full refund. Check your wallet’s transactions for the USDT deposit (BEP20 BNB smart chain).
-Investors that purchased by card: for the purchases older than 180 days, majority have already been also fully refunded via USDT (BEP20 BNB smart chain). For purchases not older than 180 days, we insist to open a paypal request for refund, in order to be fully refunded directly in your card, which most of investors have already done.
Thank You all again !
November 03.
Hi There, pls find an update on the refund plan.
Investors that purchased by crypto:
Most of wallets that purchased CONG have already been 100% refunded via USDT (BEP20 – Binance Smart Chain). Check your wallet’s transactions for your reference. Refunds were made by 2 transactions of 50% or 1 of 100%. If your wallet has not been fully refunded yet, kindly expect it for the coming days/weeks.
Investors that purchased by card:
Again, for transactions not older than 180 days, we kindly ask to request your card bank or paypal/stripe for refunding, depending on where you made the purchase. For these cases, refund will be made directly to your card. For transactions older than 180 days, refund will be made directly to your wallet, also along the coming days/weeks.
Lastly, some investors contacted us to change their wallets for the refund, for any reasons. Unfortunately, due to security and transparency, the refunds must stick to the same wallets that purchased the token. We hope you can understand that.
Thank You All !
October 30.
Hello Guys, some quick updates on the refund plan.
First, due to the lots of emails we have been receiving about doubts/questions on that, we’re not able to respond them timely. The best way to be updated, is to look on our socials (twitter/telegram) and website.
Purchases made by crypto:
Most of the wallets have already received 50% refund (USDT – BEP20). Remaining amount to be sent along the next weeks. Wallets that purchased up to USD 50 are already fully refunded.
Purchases made by card:
For purchases not older than 180 days, request each purchase reimbursement to paypal or card bank. In this case, you will be fully refunded directly in your card.
For purchases older than 180 days, refund will be made after crypto purchases are fully refunded. Therefore, during the coming weeks also.
Lastly, we would like to thank you for the support. Remember that is very rare to proceed that way. We decided to launch this refund plan in order to prevent loss of investors from the likely drop down in price on listing, which happens with most of presale projects.
Thank you specially those investors that wanted us to keep the project ongoing.
October 29.
Hello There! Most of the investors that paid by cripto have already received the 50% refund in their wallets (USDT - BEP20). Within the next days/weeks, the 50% remaining funds to be all sent. For investors that purchased with credit card (Paypal/Stripe), we kindly ask you to request the refund to them. If not possible, normally transactions older than 180 days, we will also make the full refund directly to your wallet. Thank you for the support !
October 27.
Hello All, pls go through this important announcement.
If not all presale projects, most of them when doing the listing have their tokens dropped heavily in price, even the projects that were able to create a huge hype. Doing a quick research on internet, you can see big projects having their tokens dropped big on listing day or some days after it.
You all know that we tried to anticipate CONG listing to November 1st, in order to minimize sell pressure, but most of the investors complained about it because they locked their tokens until somewhere in December, for the listing on 14th. So, it wouldn’t be fair, without allowing them to unstake their tokens which are locked in the smart contract.
Putting all together, we needed to work on a solution to minimize the loss of our investors because it is very easy to come to a conclusion that, from this sell pressure on listing, the token price will dramatically drop to near zero and it is impossible to keep adding liquidity to allow people to sell.
Most of the projects would not do anything with this situation, they normally don’t care about it but we actually do. The best way to try to minimize this situation for investors is to proceed with a partial refund. From the raise, our margin is low, considering all the costs incurred, especially marketing.
Therefore, we are proceeding with a 50% reimbursement plan which is much higher than our margin from the raise and we’re also shutting down the project. During these past weeks we worked to pool together more capital to be able to do this plan. Remember that we don’t have any obligation to run this plan, we could just leave the situation like this and go for the listing and let investors lose much more than 50%, as normally projects do.
We really feel that it would be important to minimize that as, with this forecasted drop in price on listing, it would be unlikely that the investment opportunities planed for the project will be able to raise. This scenario would make the project end with investors losing 100%.
The reimbursements have already started for investors who purchased with crypto, payments are being made by USDT/BUSD/USDC and will take same weeks. For those investors that purchased by credit card, you need to ask your bank for the reimbursement, if not allowed, them ask for it for Paypal or Stripe, depending on where you made the purchase. If you have any problem on doing that, pls contact us via email on contact@congcap.com.
Unfortunately, this plan was created to minimize the loss of our investors from the likely big sell pressure on listing due to short-term riders. Furthermore, pls also be in mind that we could just go for the listing and leave things like that, without reimbursing you the 50%. Lastly, we need to treat investors equally, therefore, this reimbursement amount is for everyone.
Thank you all, especially those investors that were willing to build and hold on a long-term, like us.