Campaigns
Raise for an account for a specific initiative with optional minimum escrow-ed targets
Overview of Campaigns on PotLock
Campaigns serve as a structured vehicle for raising funds towards particular goals or initiatives. They introduce a minimum funding target and operate within a defined timeframe, allowing for refunds if the target is not met. This feature incentivizes community engagement and provides clarity on funding purposes, making it ideal for both individual projects and broader organizational goals.
For instance, a campaign could be created to fund travel expenses for attending Korea Blockchain Week. If the campaign does not reach the minimum target of $1,000 USD by the deadline, all donations would be refunded.
Key Characteristics of Campaigns:
Targeted Fundraising: Campaigns allow users to raise funds specifically for initiatives, such as attending events or supporting projects that require financial backing.
Time-Based Goals: Each campaign has a set duration within which the funding goal must be achieved. If the minimum target is not met by the end of this period, donors can receive refunds.
Conditional Funding: This structure is particularly useful for funders who want to ensure their contributions are directed towards initiatives that meet certain financial thresholds.
Objectives of Campaigns:
Raising Funds for Specific Initiatives: Campaigns provide a clear mechanism for raising money for defined projects.
Supporting Organizations: Individuals can raise funds on behalf of organizations, expanding their outreach and impact.
Community Engagement: By enabling fans and supporters to contribute towards their favorite projects, campaigns foster a sense of ownership and participation within the community.
Features of Campaigns:
Single Currency Support: Each campaign can support only one currency at a time, simplifying transactions.
Beneficiary Approval: The beneficiary of a campaign (the project or organization being funded) can officially approve the campaign, ensuring transparency and accountability.
Referral Opportunities: Campaign creators can leverage optional referral systems to encourage more community members to participate in fundraising efforts.
Addressing Previous Limitations:
Prior to the introduction of campaigns, POTLOCK primarily facilitated rounds for foundations and grant programs without specifying individual initiatives. This new feature addresses several limitations:
It allows for time-sensitive fundraising efforts.
It enhances accountability regarding how funds will be utilized.
It provides a structured way for everyday users to contribute meaningfully to causes they care about.
Contract
Pages
Last updated
Was this helpful?