LET'S DECENTRALIZE CROWDFUNDING
equity share issuance
WeiFund leverages web3 enabled technology to provide a comprehensive crowdfunding solution on the Ethereum ecosystem.
WeiFund is extensible and can interact with any compatible token or equity system. This means campaign contributions can be turned into shares or tokens securely and reliably.
We take the approach that WeiFund will be one of many crowdfunding platforms on Web3. Our goal is to stimulate these platforms by providing world-class open-source modular and extensible crowdfunding utilities that everyone can access.
All critical aspects of the WeiFund platform are completely decentralized. This means everything from the contributions to the software repositories are all within decentralized ecosystems that can function outside of web 2.0.
To use the WeiFund decentralized app (dApp), users will first open WeiFund in a web 3.0 enabled browser such as Ethereum's Mist. A user would then immediately be able to start, contribute to, browse, and manage crowdfunding campaigns. WeiFund's interface and user experience will be very similar to that of conventional crowdfunding platforms such as Kickstarter or GoFundMe, however, all funds raised on WeiFund will be accounted for in the Ether digital-currency. Web 3.0 enabled browsers will come with their own wallet systems so that payments made on WeiFund to start and contribute to campaigns are done so in a secure and verifiable way.
With YouTube and Vimeo support, type categorization, trusted reviews, contribution limits, and secure money transfer mechanisms, WeiFund can be considered a Kickstarter in a box. Below is an overview of some of WeiFund's critical features. Please note, there will be many more to come!
By design, the WeiFund core smart-contract is inherently extensible, which means it can be securely interdependent with other smart-contracts such as equity or token systems.
Funds raised on WeiFund can be paid out to third-party actors or smart-contracts which enables campaigners with a comprehensive escrow solution.
Contributions received on WeiFund can be directly converted to tokens which can be traded immediately on a decentralized exchanges such as EtherEx.
The only fees associated with operating a crowdfunding campaign on WeiFund are the transaction fees to notate the campaigns and contributions on the Ethereum blockchain. WeiFund charges no additional fees on top.
All of WeiFund's components are completely open-source, modular and extensible.
Because all transactions are handled on the Ethereum smart-contract platform, all contributions, refunds and payouts are as secured by the network and the power of cryptography, which is as or more secure than any conventional crowdfunding utility.
Unlike conventional crowdfunding services like Kickstarter, WeiFund is part of a smart-contract network, which means donations can actually be turned into complex agreements like equity share or product rebate issuance and management systems. This gives campaign operators a broader range of possibilities when they are raising funds for their project or organization.
Many WeiFund contributors will be receiving digital assets in return for their contributions. These digital assets can be tradable and are securely verified by the smart-contracts around them. For example, contributors can potentially be issued equity shares to a DAO, and then trade those shares on a decentralized exchange in seconds. This is not possible with any crowdfunding platform that exists today and is the direct by-product of these new web 3.0 enabled technologies.
Crypto-developer specializing in open-source decentralized applications.
Financial analyst with a passion for programming and technology. Bitcoin adopter, early Ethereum enthusiast. WeiLend founder
Code composer. Creator of MetaMask Ethereum browser.
The testnet beta will give you an idea of what WeiFund is like, it's running live on the Ethereum testnet. In order to use all of its functionality, you must setup and run your own testnet node.