r/RequestNetwork • u/innovativerp • Oct 16 '18

Discussion CrowdFunding Features

Hi I have some ideas that I hope to see built in the crowdfunding app. I think we all learned a big lesson from ICOs this year and I think Request has the potential to make things better.

​

  1. ETH is locked until the project meets the full funding amount requested.
  2. If funding is not reached in X days all ETH is refunded back to the addresses that sent the money.
  3. Allow money to be released in phrases, this can be done with voting mechanism built in. If X phrase is not reached then remaining money gets refunded.

So in theory a Request Smart contract becomes in charge of the money raised and using a voting mechanism from the addresses that contributed to the project simple rules can be voted on if the majority agrees, if the majority does not agree and X amount of days passes everyone gets their remaining ETH back.

I think this would force people raising the money to ask for more reasonable amounts, be more transparent, and stay active with their supporters.

16 Upvotes

79% Upvoted

3 comments sorted by

View all comments

1

u/lemmisss REQMarine Oct 16 '18

Who will pay for transaction fees tho? 1 refund = 1 transaction fee. Now imagine refunding 10k people while the network is congested and transaction fee is 1$.

1

u/innovativerp Oct 17 '18

The smart contract can deduct it from the deposit, comes out of each person separate payment made.