On refunds: My entire timeline is full of this debate, so even tho no one asked for it, here's my two cents. For the people who haven't been paying attention: There is a debate about whether angel investors who invested in tokens pre-TGE are entitled to refunds of their investments. My opinion on this would be: It depends. In general, projects don't have to refund (unless it's in the contract) and angel investments are high risk. However, in my opinion, it's not a "here's my money, good luck" deal either. I've invested in projects that produce amazing monthly reports for investors for example and projects that I haven't heard from since writing a check in 2023. It's important to keep your investors in the loop, especially when there are delays. This brings us to the second point: Delays and changes in terms are becoming more frequent, which I think is a problem. I'm not talking about a few weeks here, but years. When teams miss an entire bull market to release their token and lose all momentum, I understand the frustration of investors (I feel the same way). Changing terms is another thing I personally have a problem with, for people who don't know what that means: Let's say you invested $10k USD in a token pre-TGE at $50M USD FDV, with 20% unlock at TGE at 12 months linear vesting. A few weeks before TGE, you are informed that terms have changed: 5% at TGE, 3 months cliff, 18 months vesting. In my opinion that’s not fair play towards your early supporters and should entitle them to refunds. Now after discussing all this, some people on the timeline say that the underlying problem is that the "wrong" people have gotten access to angel rounds. Either people that don’t understand it or don’t really have the money to participate in them etc. And again, I partially agree. Projects like SOMO etc put the average crypto trader into a sort of angel investor by doing public token rounds before the TGE, only to then delay the TGE multiple times. Now, you can say, "Well, it's their fault, they gambled their own money" - but if you look at the way these teams promoted the rounds, you get the feeling that the average person was tricked here, especially when it comes to the timing. And even tho $1k USD might not be a lot of money to you, for them it might be, and they would have $2k USD now if they would’ve just put that money in BTC instead of your public angel round. A lot of people also berate "KOLs" for bringing this up. But again, I think it's a bit hypocritical because these KOLs didn't just write a check, they provided something in return, such as posting about their investment or supporting the project in other ways. That was obligatory and a lot of times, teams were actively approaching them. All in all, I think frustrations on both sides are understandable. If you’re a team trying to make your project and TGE work and people who were excited about getting in on your token round a year ago are now asking for refunds before TGE, that sucks and can kill momentum. If you’re an investor and trusted the team on the terms and more importantly on the date & timeline of TGE they've given you, just to be ignored and, if you raise concerns or ask for refunds, get mocked on the timeline, that’s not great either. I don’t have a solution here tbh, curious to hear your guys thoughts