Crowd Funded Project Specifics
The following details apply to projects Launched and Managed using the BlockBits Platform
Creating a new Crowd Funding Project
Requirements before you start campaign creation:
- Project name and description
- A WhitePaper detailing the inner workings of your project
- A project split up into Project Development Milestones for easier management.
- A minimum viable product ( optional but risky without one )
- You have enough ETH to cover the BlockBits - Listing Requirements and understand the Project Specifications.
Using the Creation Wizard:
- Define your project's name, description, WhitePaper, media, and more.
- Select your Project Type
( Investment or Donation )
- Define Project Development Milestones
( optional )
- Choose at least one Funding Method
- Direct Funding
- Minimum Entry Amount is disabled
- Milestone Funding - Requires at least 1 Project Development Milestone
- Minimum Entry Amount set to 1 ETH by default
- Emergency Fund is enabled and can be disabled
- Direct Funding
- Create at least one Funding Phase
( entry available only to BBT Token Holders and offers a Funding Discount - Fixed Program if other phases are created )
( optional )
( usually the phase where you attract investors from the outside )
( optional )
( main funding phase )
- For each created Funding Phase select a Discount Program Type
- Type 1 - Fixed
- Type 2 - Progressively Lower
- For each created Funding Phase select a Token Stake Calculation And Distribution Algorithm
- Select a Revenue Distribution Method
- Type 1 - Token Buyback
- Type 2 - Dividends Payment
- Review and set remaining optional Project Bylaws
Reviewing a Crowd Funding Project
- Review Platform Fees
- Dynamic Platform Base Fee breakout
- Preview Crowd Funding Project Page and share with others.
- Make updates on anything you want before Launching
Launching the Crowd Funding Project
You may use the Current Version BlockBits Platform Sandbox to test everything without consequences to your Ethereum wallet if you so desire.
Once you are 100% satisfied with your Project Page and Settings you need to use the "Generate Smart Contract" option in the Project Launch Dashboard.
This will output the source code of all contracts you need to deploy.
At this stage you can opt to have a 3rd party programmer look at them and validate the things the contract does are the ones stated in the Creation Wizard.
If you are satisfied and want to continue, start the Crowd Funding Project - Deployment Procedure.
Make sure to follow the instructions to the letter, and if you have issues, use the support forum for help.
Crowd Funding Lifecycle
Based on selected Token Stake Calculation And Distribution Algorithm tokens and ETH will be distributed.
Funding Failed CashBack procedure is activated.
Crowd Funding Project End of life
Just like BlockBits, the child project has the ability to use Code Upgrades in order to Evolve.
Crowd Funding Project - Deployment Procedure
Make sure you are using a Web3 compatible browser like Mist, or have the MetaMask addon for Chrome / Firefox / Opera installed and your wallet linked and unlocked.
This wallet needs to hold enough ETH to cover BlockBits - Listing Requirements plus gas requirements for contract deployment. Cost will be provided by the Creation Wizard.
Deploy all provided contracts into the BlockChain by using the assigned "Deploy Contract" Button.
- This sends transactions to the BlockBits Deployer and Validator in order to clone each asset required, and setup your settings in the new project instance.
Each deployment will trigger a Web3 Request in your browser, that you need to APPROVE.
If approved by you the Main ApplicationEntity Contract's address is known and can be used to deploy the Dependency Contracts
Once you deploy all Contracts, go to https://etherscan.io/verifyContract and using the new contract addresses and provided source code, and create validations for each.
After EtherScan Validation Step is complete, go back to the BlockBits Platform and trigger a Contract Validation.
If the Contract Validation is successful, you can now get your Crowd Funding Project listed on BlockBits by initiating a Listing Request.
Click on the "Initiate Listing" button in the My Crowd Funding Projects List.
This will trigger a Web3 Request in your browser, that you need to APPROVE.
This is where you send the BlockBits - Listing Requirements fee to the BlockBits ListingContract in order to appear in the BlockBits Platform.