Next Step: Crosschain Crowdfunding Platform
After preparing for a long time, we are glad to announce a comprehensive upgrade for Coinversation. Coinversation has been upgraded to a crosschain crowdfunding platform. Check our latest UI now.
What is Cross-chain
As Coinversation is one of the Polkadot parachains. Coinversation will connect with other parachains by using XCMP in the future. That means the founder/creator can reach other parachain ecosystem users easily via Coinversation, such as Acala, Moonbeam, Astar, etc. Also, the asset from those ecosystems can be used for investing in the proposal. No matter which parachain you are using and what assets you have, you can directly use and join the crowdfunding on Coinversation. Investors only need to find out the proposal they are interested in. Founder/creators only need to make a great proposal. They do not need to switch networks and different pages, or swap assets. They can directly use the asset they currently have and stay at the source chain to finish all the steps.
Why Crowdfunding
We hope to link the Polkadot users with people who are interested in starting a business or other crowdfunding needs. Crowdfunding is the act of sourcing donations from a variety of donors for a specific purpose — such as providing humanitarian aid to developing nations or helping a non-governmental organization (NGO) triage a disaster stricken region. This method of funding has the potential to play a substantive, positive role in society. From a blockchain industry perspective, crowdfunding might be seen as a natural progression as the crypto space expands. Crypto is still relatively new as an asset class. With this continued growth, decentralized crowdfunding platforms are becoming more commonplace. Users can support projects they are interested in and become early participants in the project by using crypto.
How can you use Coinversation
For Founders/Creators
- Founders/Creators create the proposal and enter the details, such as the purpose, the amount of funds needed to raise, how to use the fund, milestone, etc
- The proposal will be shown on the homepage and can be invested by investors
- The fundraising will end after a period of time, then the proposal page will change to a DAO page. The fund will be distributed due to the milestones that Founders/Creator set up.
- Founders/Creator need to keep building or working to achieve the milestone, then ask the investor to vote to unlock the remaining fund on the DAO page
For Investors
- Check the proposal and invest in the interested proposal
- Become the DAO member of the proposal after the proposal ended
- Control the fund by governance function after the proposal ended
Next, we will successively release detailed content about crosschain crowdfunding platform
About Coinversation
Coinversation is a crosschain crowdfunding platform. The goal is to link users and founders who are interested in starting a business or other crowdfunding needs. Users can support projects they are interested in and become early participants in the project by using crypto.
