Nimiq-powered Funding Platform - Project Proposal

#1

Donating to a cause is a noble gesture, however each of us is limited by our own resources and sometimes the donating process can be tiresome. But what if we could donate without a cent leaving our pockets in a matter of a few clicks?

NIMIQ Funding is a crowdfunding web platform that uses NIMIQ blockchain ecosystem to allow its users to mine or donate for the causes they support.
The main features of the platform can be seen from two perspectives:
● Creating campaigns
Each user can create one or more campaigns from different categories, such as charity, personal projects, etc, although only one campaign at a time is allowed. To create campaigns users simply have to register to the web platform by filling up a form. They can then describe the purpose of their campaigns, provide some information and photos and follow their progress.
● Donating
Every user can donate to any campaign without the need to create an account.
However, for registered users the donation history will be saved and new features can be available. To donate, a user can either send NIMIQ directly using the API or mine for the campaign.

NIMIQ Funding is a platform for everyone, so simple even your grandmother could use it. There is no need to prior knowledge on the cryptocurrency subject to participate. Following these guidelines we also aim to have a simple, clear and intuitive design.

Complete Project Proposal

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Nimiq Community Funding Board
#2

To clarify, this is a funding proposal from the community posted on the forum. Richy isn’t requesting funding, they are just putting the proposal on the forum.

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#3

I like the concept. The simplicity of Nimiq creates a low barrier for people to participate. Such service is an excellent use case for Nimiq. And it runs on top of blockchain technology, which is meant for verification of data (how much had been raised for example).

The listed software stated in the proposal looks good and should be able to do the job.

The draft imagines in the proposal look good to start with because you immediately notice that the developer(s) target simplicity. Which, in my opinion, is important for success.

One thing that I directly question myself on the campaign part is how to prevent scammy fundraising. And prevent the name ‘Nimiq’ getting linked to such projects. My idea is a contract mechanism. It must to be part of the campaign. The creator of a campaign set partial goals (milestones) and when a certain one is achieved, a part of the raised funds will get released to further fund the project. If a creator set convincing milestones, it makes a campaign much more trustworthy. It also creates an incentive for the creator to actually fulfil his initial idea. How will be determined to release the next part of the funding? Let the investors vote on the progress, where the biggest investors have the biggest vote. Let there be a discussion between creator and investors towards the end goal.

One thing I’m not so sure about is the chosen name, in my opinion it conflicts with the Community Funding board. I would recommend to rethink about that.

Besides my points, this proposal definitely has potential! Good luck.

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#4

Thanks Smitty, I made the title a bit more specific so is easier to understand.

I think Nimiq Funding is just a placeholder and a name change is in order :smiley:. Maybe we can suggest some names to them :slight_smile:

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#5

I love this concept as well- a gofundme for the cryptocurrency world. Would it work like that where there is a percentage fee to the platform on NIM raised? And what would the mechanism be (if there would indeed be a mechanism) for determining if a fundraiser went against community standards and was disallowed?