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If the whale had come in at $2.99m, then that last $1m would have to have been accepted anyway.
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Ummm...why would it be accepted? If a large investment is made at the brink of $2.99m then just .01 of it should be accepted.
Rest should be refunded just like every other hardcapped ico has been doing.
I suppose you guys know what "hard cap" means.