Fund, Approve and Finalize

Fund, Approve and Finalize

GiveStation approach to on-chain crowdfunding is aligned with the ideology of decentralized consensus, where donors that contributes to a particular grant can participates in the fund approval decision.

How does it work?

Founders/Team

1. Founder/Team lists a grant.

2. Founder/Team get donations.

3. Founder/Team makes withdrawal request for the grant after reaching its goal successfully.

Approve

Every grant has its own donor(s) and once 50% of those donors votes by clicking the “Approve” button, the founder or creator of the grant finalizes and then funds will be disbursed into the team’s provided address.

The logical ground for this is to give power to the donors. They get to check if the team can execute the funding purpose. If they are satisfied with the individual background checks, they can then approve.

NB: There will be no disbursement of funds if this particular grant do not get at least 50% approval vote from its donors. Whether is reaches its goal or not.

Finalize

Finalizing a grant disbursement depends solely on the donor. If the grant in question has been approved, the creators only have to click ‘’finalize” for these funds to be released. If it’s not approved, the finalize action will not work.

While the GiveStation DAO carries out background checks on this team/founders through collecting of KYC using Blockpass, the team won’t have any say over how, when, or why a grant’s contributions should be released. This power has been transferred to the community (donors).

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GiveStation

A multi-chain Give-To-Earn grant protocol where contributors get rewarded for funding ideas, startups and projects in web3. 👉 http://app.givestation.org