What Makes Imbue So Unique?
Today, there are thousands of cryptocurrencies that are demanding your attention and investment. With such a wide landscape, it’s hard to distinguish the innovative projects from the downright scams.
In our team’s combined decades of experience — and countless hours of research — we’ve seen how the lack of accountability in the crypto space can affect investors, founders, and mass adoption at large. 3 Core Problems we’ve observed in blockchain:
- Scam Chains
- Pump+Dumps
- VC Centralization
Now, this isn’t to say that anyone’s favourite project is a scam or that VCs backing projects are inherently untrustworthy. Not all founders or VCs are bad actors. In fact, for many projects, these funds are required because they don’t have access to specialized blockchain developers.
However, in any traditional or Web2 industry, there are checks and balances that hold actors accountable and protect the common good.
That’s why we’ve set out to create a blockchain that is different: the Imbue Network.
To imbue means to “add value or quality.” In this article, we’ll discuss how Imbue is completely unique from other business models by bringing accountability empowered by the blockchain.
Our Value Proposition
Imbue is a decentralized crowdfunding platform built through the Substrate framework on Polkadot.
We are the first blockchain solution that solves the 3 core problems mentioned above. Our decentralized system of funding makes it where anyone from anywhere can:
- Submit a proposal for their idea
- Set the milestones needed to achieve the idea
- Request how much capital they need to get started
- How much capital they receive when milestones are achieved
- Fund proposed projects
- Vote on milestones for projects they’ve funded
- And so much more. This is decentralized crowdfunding at work.
We are Truly DOT-Native
So many projects claim to be building on Polkadot, yet spend a year or even longer as an ERC-20 token. This has been going on for quite some time in the crypto space. While this is a standard practice and even required in certain contexts, why rush to release a token when your token has no proven utility?
This is another aspect of our chain that we saw could be different. Instead, we are building first and building natively on Polkadot or Kusama. Right from the word, “Go.” And because we’re building a product and community first, we will be able to negotiate funding, listings, and more in more favourable terms.
Our top priority right now is to build our chain and product, gather feedback from those who are testing, and make our chain as secure and trustless as can be. No working product? That means no token. No private sales. No seed sales. No VCs.
Speaking of which…
Product Before Funding
In case you missed it, our team recently acquired our first Web3 Foundation Grant. This means that the team that built Polkadot have evaluated the code of our testnet and confirmed that it works. In fact, we passed with flying colours — zero change requests — and even completed portions of our Milestone 2.
This means that once the UI of our testnet is completed, our chain will only be improved by public testing, community feedback, and active projects. At this time, we are among the very few projects that have done and built this much without any Angel, seed, or private funding.
Full Visibility + Transparency
One of the core values that we hold most dear as a DAO is transparency. We understand that our community is our greatest asset and advertisement. That’s why in our building, internal comms, and community outreach, one of the most pertinent tasks we have is to maintain full visibility.
In our journey, we are grounded in best practices in the IT space regarding testing, dashboards, immutable infrastructure, and continuous delivery. In order to maximize the level of transparency we can give, we’ve also created a public board so you can see exactly what has been accomplished, the projects we’re currently working on, and what is coming down the pipeline.
We couldn’t have gotten this far without our Founder Sam, our core team of developers and our community at large. We’re only getting started. Let’s all continue to strive every day to bring a decentralized alternative to crowdfunding and VCs.
About Imbue Network
Imbue Network is a decentralised crowdfunding DAO built on top of the Polkadot blockchain platform. It is an idea incubator open to the entire world that allows anyone, from any walk of life and for any kind of endeavour, to submit and vote on Ideas worth Funding from the communities that believe in them the most.
Contact Imbue Network
- Telegram: https://t.me/ImbueNetwork
- Twitter: https://twitter.com/ImbueNetwork
- Medium: https://imbuenetwork.medium.com/
- Linkedin: https://www.linkedin.com/company/imbue-network/
- Official website: https://www.imbue.network/
