Overview The Decentralized Crowdfunding Platform is a blockchain-based application designed to revolutionize the crowdfunding ecosystem by providing transparent, milestone-based funding with a built-in refund mechanism. This platform ensures that project creators only receive funds as they meet pre-defined project milestones, and investors are refunded a portion of their contributions if milestones are missed. By leveraging the power of decentralized finance (DeFi), privacy-preserving technology, and stablecoin transactions, the platform ensures a secure, trustworthy, and transparent crowdfunding experience.
Key Features Milestone-Based Fund Release:
Projects receive funding progressively as they meet specific, validated milestones. If milestones are not met within the set deadlines, a portion of the funds is automatically refunded to the investors. Refundable Investments:
Investors are protected by smart contracts that automatically issue refunds if project milestones are not achieved. Privacy-Preserving Investments:
Investor data is protected using Calimero's privacy layer, ensuring personal and financial information remains confidential while participating in decentralized crowdfunding. Stablecoin Investments with PYUSD:
The platform uses PYUSD, a stablecoin, to enable secure, low-cost investments and transfers, avoiding the volatility of traditional cryptocurrencies. Smart Contract Automation:
Fund management and milestone-based fund releases are executed through smart contracts on the NEAR Protocol, ensuring transparency, immutability, and security. QuickNode Functions power the backend smart contract execution, ensuring efficient and cost-effective contract management. Tech Stack Blockchain: NEAR Protocol for decentralized finance and smart contract management. Stablecoin: PYUSD for stable and low-cost investments. Data Privacy: Calimero for privacy-preserving technology, ensuring investors' sensitive information is secure. Oracles: Chainlink (or similar) oracles for verifying milestone completion and triggering fund releases or refunds. Backend Execution: QuickNode Functions for fast, scalable backend logic and smart contract execution. Frontend: React.js/Next.js for a Web3-enabled user interface, with wallet integration and investment management. How It Works Investor Participation:
Investors select a project from the list of available crowdfunding campaigns. They contribute funds using PYUSD, which is locked in a smart contract. Milestone-Based Fund Release:
The project owner sets milestones that outline project goals and deliverables. As milestones are achieved and verified by oracles, a portion of the funds is released to the project owner. Refundable Investments:
If a project fails to meet its milestones within the set deadlines, a portion of the invested funds is automatically refunded to investors based on the missed milestones. Privacy Protection:
Investor information is encrypted and processed through Calimero to ensure privacy, making it visible only to authorized entities. Project Objectives Create a decentralized, trustless crowdfunding platform that ensures accountability by linking funds to tangible progress. Provide investors with the security of refundable investments while maintaining the transparency of blockchain technology. Ensure data privacy for investors through advanced privacy-preserving technologies. Enable low-cost, stable investments using PYUSD, reducing the risk of crypto volatility. Benefits For Investors: Increased trust and security as their investments are safeguarded with milestone-based fund releases and refund guarantees. For Project Owners: Access to a global pool of investors with the ability to raise funds in a transparent, accountable way. For the Ecosystem: A fully decentralized solution that increases transparency and accountability in crowdfunding, enabling more successful projects and greater trust between investors and project creators.
