We have completed the skin evaluation process – the sum to be refunded to our users’ CS.MONEY balances amounts to $2,705m. We evaluated about 1500 skins on our own, taking into account their float value, and the market situation in general. Another 700 rare skins (with rare floats, unique patterns or expensive stickers), the price of which could not be calculated algorithmically due to insufficient market data, were evaluated with the help of experts from the community.The remaining 2500 items that had been bought on our site and immediately put up for sale with a markup, were valued at their initial purchase price.
The first batch of refunds that we’ll make based on the net results of our site’s work in September is already being processed, and will amount to $222 442. The actual payouts will be received by our users in the near future. We also decided to make the list of skins with their valuation public. Follow this link to see who evaluated the skin and at what price.
We estimate the whole procedure to take up to a year, and we plan that the company’s entire profit will go towards this goal, save for operational costs, marketing and salary expenses. The amount of monthly refunds will vary, and we already estimate that the sum in October will be lower due to a one-off operation costs increase. Nevertheless, we will do our best to complete the refunds as quickly as possible, and we’ll be as transparent as always to our customers and the community.
We’d like to apologize for the delayed payouts. It’s the first time CS.MONEY is making a refund of this scale. We are performing some tests during this first batch of refunds, to streamline the process and ensure the following payouts will go smoothly.
We also apologize for the state our refund process is in, it’s a work in progress. We are continuously informing CS.MONEY users of the sums of processed refunds, and the skins that have been returned. For now our focus is on starting the refund payouts, rather than polishing the processes. The updates will be given in the most basic form. Later we will make modifications for a better viewing experience.
We decided to prioritise the most rare items, as per assessment of our experts and traders, so that their evaluation remains up to date.
If you are not on the list for the first refund batch, do not worry. You will be compensated later. We have just started the process, and we will process all refunds over one year’s period.
How to determine which skin has been refunded exactly? Copy the sum of the refund, go to the spreadsheet. Search the document for this sum. The name of the skin you’ve received the refund for will be next to it, alongside its float value.
The sum of the refund will be displayed in your transactions.
Thanks for your understanding and support!
