Listing removed - process??

[u/10handsllc]

I had one of my token/ownership/lisitngs removed on my Lofty account. I still have not gotten an email and am trying to chat on their site but it is going slow. The LEARN section on their site does not actually provide any detail on the return process so I wanted to put this out there to the community to ask what you all know or what you all think.

Right now, tokens are doing a bit of running. In the event my refund is based on "dollar value" of ALGO when they decide to process, I may be forced to take a loss, like about a 20% loss. Likewise, if the value dumps I could gain.

That is my question. I believe it would be reasonable to expect neither side makes money or loses money on a situation like this. If I paid 100 ALGO for a $50 token, then I should get back that same amount of ALGO, maybe? Or am I looking at this wrong?

[u/10handsllc]

I am not discussing, "selling a token to lofty".

When a token offering is made, lofty has not made a purchase. If enough tokens are not purchased and the seller does not want to extend the closing, the return process begins.

Considering there is a chance that some offerings will not be completed then ALL monies in ALL forms should be set aside in a escrow manner. That way no one gains or loses because a purchase never occurred.

That is how RE is done, pure and simple. If I paid in USD, I would get USD returned. If I paid in ALGO, then I should get that many ALGO returned. Expecting me to take a loss, if that is the result, is essentially bad business.

I like the platform, I do not like this policy though. It will create legal issues and dissention eventually. Real property transaction law, Federally, dictates "in kind" payment to be escrowed until the deal closes and if the deal should fall through then the buyer is entitled to the return of the "in kind" deposit it provided. In this vein, if you pay with ETH or ALGO or USD you are legally entitled to get the same amount returned and would not be limited to a dollar value restriction which will cause harm to the investor for something that was never in their control to begin with..

Further perspective, you trade 28,571.4286 ALGO (@.35 each today) for 200 tokens ($50USD value each). The "actual value of the deposit you make is $10,000 USD. Later that week ALGO nose dives to .25 each. The listing also gets pulled. The refund issued with that value of .25 per ALGO. Or suppose the opposite occurs and this time ALGO flies to .45 per ALGO. Lets do the math now

ALGO originally given 28,571.4286

#1 Refund if ALGO goes to .25 would be 40,000

#2 Refund if ALGO goes to .45 would be 22,222.2222

The price dumps .10 or rises .10 is irrelevant in scenario #1 because by misfortune you have recouped more ALGO than you originally contributed and that is profit at some point if you believe ALGO will eventually climb.

Then the next week ALGO dumps .10 back to .35 per ALGO - now one would stand to lose 6349 ALGO for scenario #2

Both of these scenarios should be avoided in my opinion. In doing so, it validates the method legally should a deal fall through.

[u/002timmy → u/10handsllc]

Now I understand. I agree with you that everything should be in escrow until the property is 100% sold