FundRequest FundRequest

FundRequest

Created using Figma
Created using Figma
An integrated decentralized platform where developers can get compensation for their work and where people can incentivise developers to address bugs or contribute to a particular feature. All this via crowdfunding on an Ethereum blockchain
Risk: High
Sale
Feb 12, 2018
Feb 14, 2018
100% completed
$12 500 000
83% cap completed
Cap 15 000 000 USD
past
TGE
Nov 20, 2017
Dec 1, 2017
100% completed
Raised funds - no Data
past
  • 1 FND
    =
    0.2 USD
Jul 1, 2017
Aug 11, 2017
100% completed
Raised funds - no Data
Goal 6 100 ETH
Cap 46 300 ETH
past
  • 1 FND
    =
    0.25 ETH

About FundRequest

Open source software refers to a computer application where the source code is available to the general public for use and/or modification. Programmers contribute their coding skills to a broader community when there is a personal gain to use the open source application or to receive peer recognition. The benefits of this so-called crowdsourcing offers small and medium sized companies value by i) reducing the internal cost of development ii) by increasing the speed to market. Yet, a lack of incentives causes the majority of open source projects' inability to garner sufficient community adoption for a longer period of time.

FundRequest is an integrated platform to fund open source projects, thus financially incentivising the open source community. The platform allows developers to fix bugs or to program additional features for an existing application.
FundRequest will be developed on the Ethereum Blockchain.

The centralised structures of traditional businesses are challenged, as blockchain gains traction as a solution for secure and transparent transactions without the need for a mediator. FundRequest aims to leverage upon a decentralised ecosystem as it reduces both operational and regulatory burdens and protects against organisational corruption such as fraud and embezzlement. FundRequest creates smart contracts to incentivise developers to solve a problem in the open source community. With a smart contract the code is law and thus there is no ambiguity ruling whether the conditions for funding have been met. FundRequest offers a layer on top of open source platforms such as Github or StackExchange and uses their functionality to automatically decide if a request is resolved (or not). Smart contracts use that information to automatically and autonomously distribute the collected funds for that request. This significantly reduces the risk of fraudulent reporting that is rampant on existing platforms.

Token distribution

  • 20% of the distributed tokens during the ICO are assigned to the founders. 50% of these tokens are vested over 6 months the other 50% are vested over 1 year.
  • 2% of the distributed tokens during the ICO are assigned to the advisors. 50% of these tokens are vested over 6 months the other 50% are vested over 1 year.
  • 10% of the distributed tokens during token sale will be used to fund a bounty program to discover issues in the FundRequest codebase.

Features

- Open Source projects provide incentives to develop a new feature or to fix a bug. In turn this adds more value and stability to the project. Additionally, by comparing the amount of backers and the total funded amount, one could get an insight into customer/user priorities related to open tickets
- Developers and Contributors reward the time and effort they invest in supporting open source projects. For contributors who don’t care about the reward, FundRequest offers the ability to donate the rewards to the contributor’s favourite charity
- 'Businesses' is a level of support which is positioned between either having no support or paying for Enterprise support. Companies can pick which issues they want to see resolved and decide how much budget they want to allocate. They only pay for bugs that impact their business
- Users are more stable and can feature rich, open-source software. Additionally they can fund a issue that impacts them or contribute to fund raising to implement a new feature

Technical Info

Technical details:  The technical architecture of FundRequest will allow funding request that are independent of middlemen, e.g. financial institutions. The cryptocurrency Ethereum allows for the creation of smart contracts that run business logic autonomously within a blockchain. These smart contracts can be used for fast, secure and reliable results processing. Unlike existing platforms, all of FundRequest’s transactions are publicly verifiable, viewable, resistant to counterfeit, and not subject to the risk of institutional processing. Peer-to-Peer (“P2P”) decentralization allows crowdfunding without reliance on payment processors, reduces operational regulatory burdens, and protects against organizational corruption such as fraud and embezzlement. FundRequest offers a layer on top of existing platforms and uses their functionality to automatically decided if a request is resolved or not. Smart contracts use that information automatically and autonomously distributes the collected funds for that request. This significantly reduces the risk of fraudulent reporting that is rampant on similar platforms. The source code:  The code is partially available on Github. Proof of developer:  Public team

Roadmap

  • Pilot

  • A Proof of Concept to measure adoption and gather feedback (available on the Ethereum testnet)
  • Start of the crowdsale

  • The crowdsale will last 42 days and 2 million tokens will be distributed.
  • Build

  • A platform to fund open source software on github
  • End of the crowdsale

  • After 43 days the crowdsale comes to an end, and the tokens have been distributed
  • Read More
  • Integrate & Grow

  • Seamless integration. Add funds to issues directly on your favorite platform(s)
  • Ramp up development

  • Increasing the team and ramp up core development
  • Pivot & Expand

  • Tired of issues? Fund a project, competition or a bug bounty programme
  • Milestone 1: release Alpha version

  • The first release will contain: all core functionalities & ability for token holders to test the alpha release on the Ethereum test network.
  • Milestone 2: release 1st Beta version

  • The second release will contain: bug fixes based on the feedback from the Alpha release & additional functionalities to support the core features. The test environment will be updated with the first beta release for further testing on the Ethereum test network.
  • Milestone 3: release 2nd Beta version

  • The third milestone, the 2nd beta release, contains: bug fixes based on the feedback from the first beta release, GUI and eye candy improvements & generating user documentation. The test environment will be updated with the beta release for further testing on the Ethereum test network.
  • FundRequest production launch

  • Official release of FundRequest 1.0 into production on Ethereum main net.

Materials

FundRequest

Activity

Status:
Jr. Member
LOW
Activity:
32
VERY LOW
Merit:
0
VERY LOW
Posts:
171
LOW
Views:
9 506
HIGH
Status:
Member
MEDIUM
Activity:
67
LOW
Merit:
10
LOW
Posts:
6
VERY LOW
Views:
513
VERY LOW
Users:
5
VERY LOW
Followers:
13 023
VERY HIGH
Tweets:
744
VERY HIGH
Alexa
Rank:
463 168
LOW
Delta:
152 342
Year commits:
2 499
Watchers:
162
Stars:
199
Forks:
36
Open issues:
124
Videos:
4
VERY LOW
Subscribers:
22
VERY LOW
Views:
5 930
LOW
Likes:
24
VERY LOW
Dislikes:
0
VERY HIGH

Team

Verified 33%

Attention. There is a risk that unverified members are not actually members of the team

Blockchain Enthusiast
verified
Senior DevOps and System Engineer
unverified
Consultant
verified

Last News

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