[BuildOnWaves] TrustAmust Platform — 1'st crowdfunding incubator on the blockchain
TrustAmust platform allows projects from any industry to create profiles with all the necessary details. Build trust and community around your idea.
Conduct a democratic vote for your project using tokens. Grow, evaluate, raise the first seed funds and turn your project into a real business or product. Make a public agreement with your early investors to assure them that they will benefit from your business in the future.
This is a new, open, transparent way to start your valuable project using blockchain! In other words, it is an important tool that allows every venture capitalist to evaluate ideas at an early stage with the possibility of real-time testing by consumers!
Some facts about the industry and its issues today:
- ICO is dying under the pressure of regulation and high risks of getting scammed and leaving with the investors’ money. Most of the ICOs are simply unrealizable dreams backed up by the huge budgets for marketing. The lack of a balanced evaluation turns them into a casino with zero protection against a complete burn-out. Investors lose their money without any hope of a refund. There is a gap between dead ICO model and a newborn STO model.
- Airdrop has died as a service for projects promotion at its early stages. Blockchain wallets accumulate spam tokens, distracting people from real-valued projects. It’s really easy to miss out on good projects among all these trash tokens.
- Significant resources are being spent today on spam transactions of useless tokens on every blockchain. For example, over 18 000+ zero valued tokens are being kept and transacted on an everyday basis on the Waves Platform. And this is happening with all the major working blockchains.
Our team represents solutions that will help crypto market to take the next step for merging with the real-life ventures. Our goal is to make all projects transparent to the public, with available reports on the work done by the projects. With our platform, the question “What is going on inside the project?” will become irrelevant for good projects. Every action is secured and transparent thanks to blockchain realization.
Democratic decentralized voting brings project scoring to another level. The fastest way to test your hypothesis for vitality is to publish your idea and see how people are responding to it. But without proper motivation, you will get zero response. Our platform will help you to tokenize your promises in a proper way. Standardized guidelines from real venture accelerators will make this process easier to accomplish.
TrustAmust will secure investor funds by integrating DAOICO funding paradigm in a modified, easier way. Investors should decide when and whether the project has raised its value high enough to get another round of funds. If 51% of the investors vote YES, then the next round of investments gets unblocked for the project. If the answer is NO, then funds are returned to the investors. Smart Contract will make sure it happens the right way.
Tokenomics and mechanics
At the early stages, every project lacks in expertise. The majority of startups are afraid to publicly tell the community about that. They are afraid to lose valuable points for startup. But it is completely normal to not have enough team members at the beginning. You are just starting a business. You need to learn many new things and build a strong team in order to go on. At TrustAmust users can join the platform as experts, tokenize their time and sell it to the project owner. Or they can even become team members for a share in the future business!
Projects will tokenize their ideas and deposit some of their tokens into Smart Contract at TrustAmust. Also, projects will fund some valued tokens of Waves Platform as a guarantee of the seriousness of startup's intentions.
Every voter in our model will benefit from participation in the projects’ life. They will receive potentially valued tokens. No more 0 worth airdrops. People can choose what they will receive. At this stage project will build the first trust and make easy steps into the community by representing its raw ideas to the people.
Roadmap. What’s done and the path to come:
October 1’st, 2017 — Proof of Concept.
June 28, 2018 — Interacting with Waves Team. Discussion of the concept and possible ways of developing and releasing the idea.
July 28, 2018 — Prototyping in the form of a block of schemes. Refinement of the concept. Live mockups.
Q4, 2018 — Development of MVP. Live competition of the projects. Democratic voting for projects. Rewards for voters.
Q1, 2019 — Feedback from public MVP test. Refinements.
Q1, 2019 — Seed fundraising. Closed sale.
Q2, 2019 — Alpha version in development. Adding personal accounts for the experts. First interactive guidelines for projects. Summarizing metrics at the accounts of the projects. Developing a smart ranking listing of the projects. Preparing for DAOICO modified model integration. Moving to public Beta version.
Q3, 2019 — Delivering the Beta version to the public. Refinements and feedback analyzation.
Q4, 2019 — Partnering with Venture Funds and Accelerators.
At the first stage of MVP, our team will create functionality to start public voting for projects in the Waves Ecosystem, which we consider the fastest and most technological blockchain in the whole world. With smart contracts presented by Waves this month, our model will become strong and secured.
In our MVP model, we will represent a small part of the whole TrustAmust in the form of a game! Projects will have to survive in a battle to get users’ votes. This model will make the projects realize why accelerators take only 1% from 100 startups to pass in the pool for acceleration. Projects will risk their 1000 WCT entrance fee to test their ideas in public. The winner takes it all!
Registration fee on the platform is 5%, and users who voted for the project will receive 5% as well. 1000 tokens are the initial entrance fee for projects’ participation. Waves Smart Contracts will help to arrange tokens distribution and trust functions correctly.
We are going to release MVP in November 2018.
With TrustAmust Platform we will show the whole world that preincubation of ideas with the help of blockchain transparency is a great way to develop your project into business in a community-backed space.
We need your help and support in bringing this idea into the word. Join us as a startup, a voter, or an expert. Join our team if you have the necessary skills, and our vision inspires you to make some big changes to the venture industry.
We are looking for partners: UI designers, full stack programmers, analysts, community managers, venture capitalists. Welcome to join our team!