[ADVERTORIAL]– Advances in technology provide many ways to bring people together. In the past, the rise of web2 has brought people together to pool their resources for initiatives featured on Indiegogo, Kickstarter, and GoFundMe.
However, the platforms mentioned above are run centrally and follow strict company policies. Kickstarter and Indiegogo have fundraising restrictions regarding certain locations and regions. Recently, GoFundMe removed the campaign without warning, and the money raised will not be used for the original purpose, against the wishes of the supporters.
This is a major drawback of a centralized platform with strict service requirements.
A decentralized crowdfunding platform
The advent of web3 and decentralized platforms can mitigate the current weakness of web2 crowdfunding. People will be able to create the social initiatives they want, pool resources, and know that their resources are safe and protected without anything dangerous happening against their will. WeFund is an ideal alternative to a centralized crowdfunding platform.
WeFund, decentralized in nature, is a community crowdfunding incubator for blockchain, real-world, and charity projects built on various blockchains, including Terra, Solana, Ethereum, and more.
WeFund’s native token and platform (WFD) are built on the Terra blockchain, a stable coin-based ecosystem with high-quality protocols, low gas fees, and a vibrant community. WeFund has the ability to implement various blockchain and real-world projects, bridging the gap between the real world and blockchain.
In addition, WeFund is being developed into a 360-degree incubation service for projects hosted on the WeFund platform through support and mentoring before, during, and after funding is completed. WeFund’s strategy for scalability is to build and maintain a strong community with voting power, providing ongoing feedback for our platform and projects incubated and hosted by WeFund.
WeFund works by inviting any project creator or individual to launch their project or initiative on WeFund. Those projects and initiatives will then be vetted by the supporting community, not WeFund, ensuring the process starts with the will of the people.
The community will determine whether this initiative is in line with the spirit or value of their promise. WeFund does not participate in community voting. We are building a platform where the community pushes the platform forward and all the initiatives within it.
Our biggest plus is security for project investors through our unique milestone funding release system with smart contracts and the use of the Anchor Protocol.
For example, if a project wants to raise $100k, this will be broken down into milestones like $10k for website development, $15k for marketing, and so on… All projects will have a special smart contract to deposit all funds into the Anchor protocol, a savings protocol that offers a low volatile yield on Terra stablecoin deposits (WeFund does not touch money) for security.
The project will receive an initial $10,000 to complete the development of its website by the specified date. The achievement will be approved by the project investor for the next set of funds to be issued from Anchor to the project. If the project is not approved by the backer, the money will be returned to the investor.
Money that has been spent on the project will not be refunded. This strategy is to provide security for project proponents and hold the project accountable for its development.
Dedication to the community
WeFund is dedicated to the growth and sustainability of our community. We have an extensive reach in Southeast Asia, Latin America, the Middle East, Europe and more. We bring the crypto community from all over the world to WeFund where we will offer our community support and outreach to promote projects on our platform so everyone is aware of the opportunity.
In addition, projects have the option to dedicate a portion of their fundraiser to WeFund and/or share it with charities. WeFund does not require any commission from the funds raised. However, we take a 1% transaction fee from the backers.
For charity projects hosted on our platform, everything will be done on the blockchain. Therefore, investors can fully track where their funds are going. WeFund is building our platform to be as automated as possible to minimize risk and provide full transparency. This will prevent the problems that other crowdfunding platforms, like GoFundMe, are experiencing.
WeFund’s mission is to host and incubate high-quality projects that align with WeFund’s investor community, utilize community-driven decision making for 100% transparency, and manage funds exclusively on Terra’s Anchor protocol using smart contracts for security.
WeFund’s brand will be associated with quality, transparency, community, and security. WeFund’s mission can foster growth and trust between charity, project creators, and backers without a middleman or central power to disturb the process. Baked into the system, this ensures that the administration of WeFund would not be able to stop a fundraising process or take pooled resources away to use for other purposes.
Social Media Links: