# Offering Source: https://docs.settlemint.com/docs/console/my-assets/offering Open one Primary Offering to review its terms and progress, subscribe within its limits, and claim tokens or a refund once the sale settles. An offering page shows one Primary Offering: its progress against target, its pricing and schedule, and your purchases. From it you subscribe, and claim tokens or a refund once the sale settles. You reach it from a card on [Invest](https://docs.settlemint.com/docs/console/my-assets/invest). Whether **Subscribe** appears is decided separately from whether the offering is listed, as [How an offering reaches you](https://docs.settlemint.com/docs/console/my-assets/invest#how-an-offering-reaches-you) explains. ![Offering page with the Overview, My activity, Pricing and Documents tabs and the Subscribe button](https://docs.settlemint.com/docs/screenshots/console-invest-offering.light.en.webp) [Screenshot] An offering page with its progress against target, its tabs and the Subscribe button. The Overview tab shows progress, pricing, investor count, schedule and the chart of commitments over time, and the header offers "Subscribe" when the offering allows it. ## Before you start [#before-you-start] - Confirm the participant you work as in **Working as**: eligibility, purchases and claimable or refundable amounts belong to that participant. [Delegated authority](https://docs.settlemint.com/docs/concepts/compliance-and-identity/delegated-authority#attribution-needs-both-records) explains how the records name you and the participant you acted as. - Have your PIN or authenticator code ready, because confirming a purchase asks for it. - A purchase cannot be cancelled or edited once you confirm it. The payment currency leaves your wallet for the offering's contract when the purchase executes. If the sale fails, you claim the refund yourself from "My investment". - Claiming tokens or a refund cannot be undone either. Browsing the offering changes nothing. ## Steps [#steps] ### Read the offering [#read-the-offering] Select the card to open the offering's page. **Overview** shows progress, pricing, investor count, the minimum raise and any vesting schedule, and the chart of commitments over time. A "My investment" tab appears once you hold a position, a refund or an application, and "My activity" and "Pricing" are always present. A "Documents" tab appears once the offering's sold token has resolved. It lists the token's public documents, plus holder-only documents once you hold the token. ### Subscribe, if the offering allows it [#subscribe-if-the-offering-allows-it] 1. Select **Subscribe**. When it is missing, see [Troubleshooting](#troubleshooting). 2. Choose a payment currency. The picker lists only the currencies the offering accepts. 3. Enter an amount in your own number format. Under the payment amount, the fiat equivalent uses the price that [Portfolio](https://docs.settlemint.com/docs/console/my-assets/portfolio) shows for that currency, so it appears when you hold the currency and its price is reliable. Under the token amount, it shows when the token has a reliable price. When the amount is more than the headroom, what is left before the offering's cap, the Console reduces it to the headroom and says so on the confirmation card. 4. Accept the terms when the sheet asks, select **Review**, then confirm with your PIN or authenticator code. If you sign with your own wallet rather than a platform-managed custody account, the sheet hands the purchase to that wallet after you confirm. A smart account signs the payment approval and the purchase together, in one prompt. A plain wallet signs each step in turn, and the sheet shows which step it is waiting for. If a step fails or the request expires before you sign, nothing further is sent. A payment approval, the amount of the payment currency the offering may take, that already landed stays in place, so selecting **Subscribe** again continues from it. ## Claim tokens or a refund [#claim-tokens-or-a-refund] Open the **My investment** tab. A refund or a token withdrawal goes to the custody account that bought. When several of your accounts hold a position in the offering, "My investment" reads each account and picks the account that is owed. It names the wallet that is paid, or offers a picker with each account's amount when more than one account is owed. The account shown signs the claim, so the PIN step does not ask which account signs. An account that signs in your own wallet signs its refund or withdrawal there. On a failed offering, **Claim all** on "My investment" claims the refund one payment currency at a time. A currency that reverts shows its reason and a retry, and a currency that already settled stays settled. [Portfolio](https://docs.settlemint.com/docs/console/my-assets/portfolio#settle-ended-offerings) settles every ended offering you are owed with one verification. ## What the Console checks before you submit [#what-the-console-checks-before-you-submit] Before it lets you submit, the Console checks the amount against the sale start, the remaining headroom, presale whitelisting, the first-purchase minimum, the offering's subscription step, your maximum allocation and the presale per-address cap, in that order. When the offering sets a subscription step, your total in the wallet that buys must be a whole multiple of it. An allocation the issuer set for you personally is checked when the purchase executes, and a purchase above it is refused with a stated reason. The sale contract also checks the token's compliance rules when the purchase executes, and a refusal names its reason. A purchase that reverts moves no payment. The Console shows no eligibility verdict before you sign. The Investor portal does, and [Investor portal](https://docs.settlemint.com/docs/concepts/operating/investor-portal) describes it. ## When your tokens or refund arrive [#when-your-tokens-or-refund-arrive] - Without a minimum raise and without vesting, the tokens arrive in your wallet with the purchase. - Without a minimum raise but with vesting, the tokens unlock on the vesting schedule, and **My investment** offers each vested amount as it unlocks. - With a minimum raise, claimable tokens appear only after the sale succeeds and finalises, and a refundable contribution appears only after the sale fails and finalises. Until then the position shows as pending, with its progress at zero and the claim button off, labelled with the reason. If the sale fails, the issuer cannot withdraw your contribution until you claim the refund, and the refund claim has no deadline. A contribution taken before the offering's contract had this protection is protected only for the 30-day grace period after the sale fails, so claim that refund promptly. ## Offerings that take applications [#offerings-that-take-applications] An offering in application mode takes applications instead of purchases. Its payment waits in escrow until the issuer allocates the offering, and the tokens and any refund arrive together. The Console has no "Apply" control. In its place the offering page says that the offering takes applications and that you apply in the Investor portal, which offers **Apply** with the same eligibility and terms checks. You can also apply through the Platform API. Your application shows on **My investment**, with its payment amount, tokens requested, status, allocation and refund. "My activity" lists purchases only, so on an offering that takes applications it reads "No applications yet" until you apply and "Your application is on My investment" after. An application-mode offering can lock each allocation for a period that depends on your investor category. After the issuer runs the allocation, your application shows the locked amount, when it unlocks, and the category, or **Other investors** when the default lock applies. Until the unlock time, the token refuses any transfer that would leave your wallet holding less than the locked amount. ## You should see [#you-should-see] - A successful subscription shows a confirmation naming your allocation and amount paid, plus the first vesting unlock date when the offering vests. - The offering's **My investment** tab then shows your position. [When your tokens or refund arrive](#when-your-tokens-or-refund-arrive) says what it shows next. ## Troubleshooting [#troubleshooting] **Subscribe is missing on an offering I expected to buy into** Signal: you open an offering's page and there is no **Subscribe** button. Cause: "Subscribe" appears only when the offering takes purchases, the sale's phase is active or about to start, an accepted payment currency exists, headroom remains against the cap, and the organisation's "Primary market" module is not read-only. When one of these rules it out, the button is omitted without a message. Four cases show a message in its place: the offering takes applications, the page could not tell whether the offering takes applications or purchases, the page could not check whether the offering has started, and the offering failed with a refund still owed to you. The second and third messages offer "Try again", and the failed offering's message offers "See refunds". Fix: for an offering in application mode, apply in the Investor portal. Otherwise check the offering's opening and closing dates and its raised amount against target. If the window has not opened, has closed, or the offering is fully subscribed, this page offers no way to buy. **My payment currency isn't in the picker** Signal: a currency you expected to pay with does not appear in the payment currency selector inside the buy sheet. Cause: the picker lists only the currencies the offering accepts. Fix: choose one of them. **My purchase amount was reduced** Signal: the amount you typed changes on its own before you submit. Cause: the Console reduces your entry to the offering's remaining headroom and shows a warning notice on the confirmation card explaining the reduction. Fix: read the notice before confirming. A smaller result means the offering has less headroom than you assumed. **My purchase looked approved, but it still failed** Signal: a spend approval step completed, but the purchase itself did not go through. Cause: an on-chain condition can still make the purchase revert after your approval succeeds. The Console shows the decoded on-chain reason. Fix: read the reason in the failure message, and retry after that condition, such as headroom or eligibility, has changed. **The Investor portal shows Not eligible or Action required** Signal: in the Investor portal, "Subscribe" or "Apply" is off and the note beside it reads **Not eligible** or "Action required". The Console shows no such verdict. Cause: the portal checks the offering's minimum purchase against the sale token's compliance rules. Fix: follow the action the portal names. [Investor portal](https://docs.settlemint.com/docs/concepts/operating/investor-portal) describes it. ## Frequently asked questions [#frequently-asked-questions] ### Does an offering's vesting schedule change whether I can subscribe? No. Vesting only changes when claimed tokens unlock after a sale succeeds. It has no part in whether "Subscribe" appears on an active offering. An offering with a long vesting schedule accepts a subscription the same way one with none does. Only the claim timeline differs afterwards, shown on the offering's **My investment** tab once your position resolves. ### If I hold positions in several offerings, do I claim or refund each one separately? Yes, and within a single failed offering as well. [Claim tokens or a refund](#claim-tokens-or-a-refund) gives the steps. Refunds are claimed one payment currency at a time, never as one combined transaction across offerings or currencies. The **Claim all** button on a failed offering's "My investment" tab drives each currency in sequence, so a reverted currency shows its decoded reason and a retry option without rolling back a currency that already settled. A separate offering's claims are independent transactions. "Claim all" on [Portfolio](https://docs.settlemint.com/docs/console/my-assets/portfolio#settle-ended-offerings) settles every ended offering you are owed with one verification, and still sends each claim and refund as its own transaction. ### Can I subscribe to the same offering more than once? Yes. Each purchase is checked on its own against the offering's current headroom, your maximum allocation, and, during a presale, the per-address cap. Only the first purchase into an offering is checked against its minimum amount. A later purchase into an offering you already hold a position in adds to that position rather than starting a new one, subject to the same limits as any other purchase. When the offering sets a subscription step, the new total in the wallet that buys must still be a whole multiple of it. ### The payment currency picker shows a currency I don't hold. Is that a mistake? No. The picker lists every currency the offering accepts, regardless of what your connected wallet holds. When you confirm a purchase your balance cannot cover, the platform refuses it before anything is sent. The sheet returns to the amount step and states what you hold and what the purchase needs.