FundYourselfNow - Use Case Example with
BitcoinTalk Forum and Crowdsale Bounties
Firstly, thanks to the community members on Slack, Telegram and Skype - who keep driving such productive conversations forward.
It all begins with one person with an idea, then there is a supporter that is ready to believe in the idea.
Supporter then becomes a community of supporters and so on. Resources are pooled in and
human minds get together. The bright spark of an idea, is now a thriving living organization of minds,
money, people and products.
FundYourselfNow platform has primarily three stakeholders as it can be seen in the infographic
below.
The three stakeholders for any project created on FundYourselfNow are :
● Project Creator
● Backers
● Helpers
Let’s Talk about Helpers
It would be a worthy expenditure of time to talk about Helpers. The inclusion of helpers in the
equation is what sets FundYourselfNow much apart from most other project-based crowdfunding
systems.
We wanted a great use case to explain how the Helpers are rewarded by the system - and what better
way to explain than taking the case of the cryptocurrency industry’s much beloved BitcoinTalk forum.
BitcoinTalk Forum, Bounties and FundYourselfNow - Use Case Example
Let’s say there is an crowdsale coming up or a project is lined up on the calendar for the next big thing in Fintech industry. Let’s just call it FunCoin, for the lack of creativity or for the sake of brevity.
Let’s say that FunCoin wants to fundraise for their project. The team will post up their project
information on the website and start a Bounty campaign to indicate the help they are requesting and the
rewards to the people who participate. They can send out invites to a pool of people that could be
potentially interested.
People can include copywriters, video producers, bounty program managers, coders etc. FYN
platform allows the project creators to manage their bounty team on one consolidated platform. The
platform will protect helpers by ensuring that their bounty stake is reflected in the project smart
contract once the project starts funding. This approach is more secure, faster and efficient compared
to current existing traditional methods of posting on Bitcontalk forums.
For Helpers, beyond just monetary rewards, this also offers a chance to be part of the next big idea
that might just end up changing the world!
Let’s Talk about Project Creators
For Project Creators, FYN will offer assistance in 3 main ways
1) Marketing & Development - via Bounty Campaign
2) Technical - Crowdfunding platform with standardized crowdsale engine
3) Legal - Contract Document drafting if required for crowdsale (if we raise more than 5mil usd for our fundraising target)
FYN wants to be a one-stop shop project creators who want to bring their idea to the fundraising
stage and beyond.
will also work with larger projects to promote their
campaign externally via Facebook, Twitter, Reddit and Bitcointalk.
With a great team, we hope that many more project creators with good ideas will be able to bring
their project to the fundraising stage.
An example of how creators can create their project on the website is shown below. You can take a look at what we have done on http://demo.fundyourselfnow.com/
Let’s Talk about Backers
For backers, FundYourselfNow offers 2 compelling benefits
1. Ability to the latest projects with attractive rewards. FYN platform is not limited to crypto-currency projects. This platform is also open to creators looking to raise money for physical products, e.g. bitcoin farm, movie, games etc.
Sample project on FYN platform
2. Protection from outright fraud by implementing milestone based payments and through community feedback on project. Milestone based payments is encoded into the smart contract and automatically disbursed on the milestone dates. If the project creator fails to deliver their promises, backers can vote to stop remaining milestone payments and get the remainder refunded.
Voila!
You see what we mean?
Do you have more ideas, comment, feedbacks and use cases?
Wanna tell us? Please do!
