When projects collapse or get hacked, and only partial refunds are possible, don't make the refunds proportional. Instead, make smaller users whole first, up to some threshold (eg. $50k). Two years ago, when I proposed this idea, many treated it with scorn, misrepresenting the idea as asking for government bailouts. Today, nobody seems to care about principles anymore, and so even versions of this idea that are government-backed can perhaps more easily get adopted. Here, though, I am not proposing anything to do with governments; rather, I am proposing that project teams put into their terms of service an expectation that in the event of project insolvency, partial refunds will be prioritized in this way. The only request to governments is that appropriate rules get passed so that bankruptcy courts acknowledge the legitimacy of such arrangements.