Last updated 2 years ago
Crowdfunding Platform
Problem
Most projects use NFT sale to raise funds, and this causes lots of Rug, there is often a lack of transparency in how funds are managed and distributed, raising concerns about misuse of funds and fraud
Total to date
This is the total amount allocated to Crowdfunding Platform.
About this idea
[GENERAL] Name and surname of main applicant
Eric Tsai[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)
Entity (Incorporated)[GENERAL] Requested funds in ada
98000[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)
6[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.
No[GENERAL] Summarize your solution to the problem (200-character limit including spaces)
A decentralized crowdfunding platform is able to ensure maximum transparency and still give the creator support
[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?
No[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”
No dependencies
[GENERAL] Will your project’s output/s be fully open source?
Yes[GENERAL] Please provide here more information on the open source status of your project outputs
The project will be fully open source so that anyone can check if this platform has any bug, and maintain transparency. MIT license will be used, the MIT License is a popular open-source license widely used in the software development community. It's known for its simplicity and permissiveness.
[SOLUTION] Please describe your proposed solution.
The proposed solution is to provide a secure, transparent, and decentralized mechanism for developers creators, and individuals to raise funds. The platform will enable users to leverage the power of community participation in a decentralized manner.
Crowdfunding MVP: (on mainnet, now the prototype is more like the voting app, it is to avoid the tester spending any asset on testing, no assets will be spent from testing)
https://cardano-crowdfunding.vercel.app/
Home page
Proposals List page
Proposal detail page
Create proposal page
Personal Infomation setting
[IMPACT] Please define the positive impact your project will have on the wider Cardano community.
For now, most projects use "NFT" sales to raise funds, and this causes lots of "Rug", which is taking the funds and leaving without doing anything.
By leveraging the crowdfunding platform, the proposer can present their visions, policy proposals, and campaign promises to a wider audience, rallying support from individuals. This means those who may not have the financial resources to independently fund their thought can still make their voices heard and initiate meaningful change within the decentralized crowdfunding platform.
[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?
Based on the Cardano multi-signature with smart contract method, we evaluating the technical feasibility of this crowdfunding platform.
Besides the technical feasibility, I'm a full-time Cardano developer, with knowledge of full-stack development experience.
https://www.linkedin.com/in/eric-tsai-331baa20a/
And I made lots of apps on Cardano (just show three recent works)
- Cardano NFT minting platform: https://app.xforge.studio/
- Cardano Coinflip: https://www.cardanocoinflip.io/
- Cardano News: https://news.purchains.com/
These apps are popular and currently have thousands of users using them and over a million ADA transaction volumes on these projects.
Enthusiastic and Community:
- Hosting Cardano Summit and CIP1694 workshop: Hosting Cardano Summit and CIP1694 workshop demonstrates our passion for extending the capabilities and possibilities within Cardano. By organizing workshops and Summits, we aim to contribute to the growth and development of Cardano by exploring new ideas, proposing improvements, and engaging with the community.
- Hosting monthly meetups: Meetups offer an ideal environment to showcase our projects or features in development. We can invite attendees to participate in testing and provide feedback on this project.
[Project Milestones] What are the key milestones you need to achieve in order to complete your project successfully?
- Milestone 1: Project Initiation and Planning
- Define project goals, objectives, and success criteria.
- Identify target audience and user personas.
- Develop a project plan, including resource allocation and timeline.
- Outputs: Clearly defined goals and objectives for the project, outlining the desired outcomes and impact. A detailed project plan that outlines the tasks, activities, milestones, timelines, and resource allocation for the entire project duration.
- Acceptance criteria: A well-defined direction and focus for the Crowdfunding Platform project, ensuring alignment with the overarching goals and objectives.
- Milestone 2: Platform Design and Development Initiation
- Create design prototypes for the user interface (UI) and user experience (UX).
- Set up the development environment and infrastructure.
- Outputs: Visual representations of the platform's user interface (UI) and user experience (UX), showcasing the layout, navigation, and key features. Set up the necessary technical infrastructure, including servers, databases, and development tools, to support the platform's development.
- Acceptance criteria: The design prototypes provide a visual direction for the platform's UI/UX design. The development environment and infrastructure are established, ensuring that the platform development can proceed smoothly and efficiently.
- Milestone 3: Core Functionality Development
- Develop Proposal/funding topic creation features.
- Develop smart contract to conduct action automatically
- Develop refund contract
- Outputs: Develop a feature that enables users to create a crowdfunding platform. Develop smart contract code that automates the execution of the funding process
- Acceptance criteria: The smart contract enables automatic execution, reducing manual intervention and ensuring efficient and accurate decision-making processes.
- Milestone 4: User Engagement and Community Building
- Implement community features such as discussion forums or social sharing.
- Create user profiles and presentation pages.
- Outputs: Develop features that facilitate user interactions, discussions, and collaboration within the Platform. This can include discussion forums, chat functionality, social sharing, and project commenting features.
- Acceptance criteria: The implementation of community engagement features creates an interactive platform where users can connect, share ideas, and participate in discussions.
- Final Milestone: Testing and Refinement
- Conduct comprehensive testing of platform features, security, and performance.
- Gather user feedback through user testing, surveys, and feedback channels.
- Refine UI/UX design based on user feedback.
- Outputs: Perform systematic testing of the platform, executing test cases, identifying issues, and documenting bug reports for further investigation and resolution.
- Acceptance criteria: Detailed bug reports provide a record of identified issues, helping developers understand and address the problems effectively.
[RESOURCES] Who is in the project team and what are their roles?
Eric Tsai: Cardano developer, lead the development team
https://www.linkedin.com/in/eric-tsai-331baa20a/
Will Huang: BD of the project, marketing
https://www.linkedin.com/in/will-huang-759639238/
Magpie Chang: Full-stack developer
https://www.linkedin.com/in/magpie-chang-699900171/
Maggie Fan: UI/UX Designer
White Bridge: Designer
Cheng-Ya: developer
[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources.
Designer 1 x 1 month = 8,000ADA
UI / UX Developer x 1 month = 10,000 ADA
Full Stack Developer 2 x 2 months = 50,000 ADA
Plutus Developer 1 x 2 months = 30,000 ADA
[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?
- Increased Participation: By reducing the financial barrier to entry, a decentralized crowdfunding platform allows a wider range of individuals to participate in the Cardano system. This leads to increased engagement, diversity of perspectives, and representation of different stakeholders within the ecosystem.
- Enhanced Decentralization: A more inclusive crowdfunding platform promotes decentralization by enabling a larger number of individuals to actively participate in the funding process. With a broader base of participants, decision-making becomes more distributed and less concentrated in the hands of a few entities or stakeholders. This strengthens the overall resilience and stability of the Cardano network.
- Community Empowerment: By making funding participation accessible to a broader community, a decentralized crowdfunding platform empowers individuals to have a direct impact on the direction and development of the Cardano system. It encourages grassroots involvement and fosters a sense of ownership and responsibility within the community.
- Diverse Funding Sources: A crowdfunding platform can bring in a wider pool of funding sources for the development of the Cardano ecosystem. By allowing individuals with varying financial capacities to contribute, the platform can tap into the collective resources and expertise of the community, enabling projects and initiatives to receive funding that may not have been accessible through traditional investment channels.
- Accelerated Innovation: The affordability of deposits through a decentralized crowdfunding platform can spur innovation and experimentation within the Cardano system. By providing easier access to funding, it encourages entrepreneurs, developers, and projects to propose novel ideas and implement them on the blockchain. This leads to a faster pace of innovation and the overall growth of the Cardano ecosystem.
