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Fundme.cash campaign what's going to be changed ?

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Avatar for bauman2art
Written by   2
1 year ago

Hi everyone, fundme.cash just started a flipstarter fundraising campaign that will help change the profit model and integrate new features.

Why are we removing 5% fees ?

We found that this profit model doesn’t work, because we had several donors express the similar concern: “We don’t want to pay the 5%”. 

What would help fundraisers to achieve campaigns goals?

We found that fundraisers spend a lot of time to create and promote their campaigns, time important especially in emergency situations and campaigns should be started fast (for example disastrous flooding in El Limon-Venezuela)

FMT Token

FundMeToken (FMT) is a SLP token with a fixed value 45mil. 

This token will help to:

  • distribute platform profits to shareholders

  • remove fees for creating campaigns

  • increase platform growth (by rewards system)

Advertising system

We are going to integrate a campaign advertisement system. So creators will be able to promote their campaigns on the Fundme.cash website. Advertisement will be based on real-time bidding (OpenRTB) with Bitcoin Cash. Bid represents the amount of Satoshis per view. All bids will be sorted in queues and the biggest bids will be filled first.

Profits distributions

100% BCH profits from ads system will be airdrop to all FMT holders each month. 

This should motivate investors to hold FMT tokens and users to get FMT from the rewards system.

Rewards system

We should reward users for their impact in fundme.cash growth, therefore each time someone subscribed by referral link user rewarded with 1 FMT and get opportunity to receive platforms profits

Telegram Notifications

We will create Telegram Bot that will send notifications to beneficiary each time:

● Campaign donation received

● Campaign fully funded

● Question/comment posted

Transparency

Currently when a beneficiary creates a campaign we generate and keep the campaign wallet on backend. 

But since we going to remove fees in order to make it safer we will remove this and create the campaign wallet on client side (or beneficiary would be able to set its own newly created BCH address )

We are going to open-source all code (after all features ready) so community could inspect it for security purposes.


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Avatar for bauman2art
Written by   2
1 year ago
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Comments

Good thing it will be removed 💪

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1 year ago

Awesome write up! I think this helps make our transition clear.

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1 year ago