For token creators
When a presale fails
What happens when a fixed or stepped presale ends below its soft cap, for buyers and for the creator.
A fixed or stepped presale fails when its end time passes and less than the soft cap has been raised. Bonding curves and direct liquidity launches cannot fail.
For buyers
Your PBTC is not lost. Open the token page and claim your refund; the full amount you paid comes back to your wallet. Refundable presales are also listed in your Portfolio under Refundable, so you will not miss one.
If you paid with another token, the refund is still in PBTC, because that is what the presale received after the swap.
For the creator
The presale is marked as failed on the token page and on Explore. No liquidity pool is created, no tokens are distributed and nothing is left to manage. The launch fee is not refunded. If you had chosen the Team Finance lock, that part of the fee is returned to your wallet in USDC, since the lock was never made.
You can launch a new token at any time. If you try again, a lower soft cap or a longer duration gives your community more room to get there.