A novel way to fund projects trustlessly.
Promise removes trust from the process of crowdfunding protocols by allowing the funders of a project to hold the project's fundraisers accountable. Donors no longer have to wonder whether fundraisers will follow through on the claims they make. Instead fundraisers are rewarded for proving they have done what they promised.
How It Works
Start
Start with an idea. It can be anything: A new DeFi protocol, an artistic project, or a new type of physical product. Set goals and timelines for future milestones.
Seed
After creation, a fundraiser goes through a pre-milestone funding round where they raise money to start progressing towards their milestones.
Progress
Funders hold votes after each milestone to ensure the fundraiser is keeping their promises. The outcome of the vote determines if the funds from the milestone are given to the project or back to the funders.
Finish
After a successful promise fundraiser, both fundraiser and funder are rewarded by their symbiotic relationship. The fundraiser is set up perfectly.
Features
Trustlessness
Funders no longer have to trust the fundraiser to use their money correctly, since they govern the release of funds
Flexibility
Fundraiser Smart Contracts are customizable, modular, and fluid allowing them to cover a range of categories and styles
Speed
Running on Layer 2, Promise is cheap and lightning fast enabling fundraiser creation and interaction in seconds
Transparency
Promise Fundraisers have to be transparent by nature so the funders can keep track of the fundraiser's progress
