Softcap is the amount of capital required to be gathered in order to consider the campaign successful.
Hardcap is the target amount of capital the issuer wants to raise. Therefore, hardcap is larger than the softcap.
If the campaign reached softcap but did not reach hardcap before the expiration date, the collected funds are transferred to the issuer’s wallet and the investors receive the assets (smart securities) they bought. In other words, the campaign is successful.
If the campaign did not reach softcap before the expiration date, the collected funds will be sent back to the investors. The campaign is unsuccessful.
If the hardcap is reached before the expiration date, the campaign stops. Of course, it is successful and all the related procedures take place.