# TOWN participant FAQ

Audience: Participants | Version: 0.1 | Updated: 2026-09-05 | Status: Local review draft

Direct answers about the local demo, balances, campaign mechanics, and common problems.

## Is this a live investment product?

No. The current web experience is a fictional local prototype. Its campaigns, wallets, balances, prices, trades, approvals, records, and outcomes do not represent a live offering or live value.


## Does a campaign token give me shares or a vote?

The token implements a proportional share of a local campaign vault. Its enforceable legal interest is unresolved. It must not be read as direct target-company ownership, a direct voting right, an SPV interest, or a guaranteed redemption right.


## Why can backing grow while my token balance stays the same?

Campaign-token balances remain fixed when modeled fee proceeds add backing. Gross backing per token rises instead. Later deposits mint fewer tokens when the backing ratio is above one, preserving the existing proportional ratio.


## Why are gross value, net available now, and NAV different?

Gross value prices all modeled backing before fees and liabilities. Net available now uses only direct-redemption quotes that are currently eligible and deducts the quoted fee. Locked positions remain part of modeled gross value but not net available now. NAV is unavailable because the prototype has no approved liability and valuation source.


## Can I always sell or redeem?

No. Direct redemption is modeled while fundraising is Open, locks after the goal, and reopens only after a guarded termination process. A market sale depends on an executable venue and sufficient liquidity, neither of which the local quote proves.


## What should I do when the demo looks wrong?

The prototype does not publish a support email, phone number, or incident channel. Record the page, action, campaign, and visible error for the workspace owner rather than sending wallet secrets or private keys.

- Reload to restore the initial fictional campaign state and clear in-memory changes.
- Connect a synthetic wallet if Portfolio or position balances are hidden.
- Check the campaign state and policy message when a mint, redemption, or swap action is disabled.
- Use the local setup instructions when Records or Operations cannot reach their separate services.

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TOWN · Activating Onchain Capital
Local review draft. Describes the fictional prototype and proposed product; not live investment terms.