Not reaching a milestone does not always mean the end of the road.
Best Case Scenario
Not reaching a milestone does not mean the end of your journey. In many cases, a contingency plan will be activated that is tailored to your project's specific needs.
We will consider that things don't always go as planned and can restructure milestones accordingly. A portion of the mint will also be set aside as a contingency plan. Many successful projects have difficulties remedied by second mints (with great purpose), restructuring...etc. We will work toward remediation with teams actively working, and that can demonstrate a reasonable quantity of verifiable work.
Withholding of funds is never taken lightly, and we will always work with you to understand and comprehend why a milestone has not been met.
It's possible that you are very close to your next milestone and can prove it; in that event a percentage of the next milestone could be released if you have already depleted your contingency fund. A secondary mint is possible while adding utility to your project; many projects have done this: however this option is not always available.
We understand why things go wrong, sometimes: devs quit, teams have differences, laws change... etc. We have a strong team that will work with you to achieve what you set out to do.
Worst Case Scenario
Suppose it's not feasible to continue, or project leaders give up, or there is ill intent with funds spent with no proof of working towards completing the current milestone. In that case, we will have to dissolve the remaining funds raised and distribute them to holders of your NFT.
This will never be taken lightly and will never be a swift decision as the parameters under which we are permitted to do this will all be legally documented.
More information on our minting protocol can be found in our Pangolin Protocol medium article.