FundRequest ICO / Crowdsale: rewarding open-source contributions - Smith + Crown

FundRequest ICO / Crowdsale: rewarding open-source contributions

FundRequest is a platform for rewarding open-source contributions using Ethereum smart contracts.

Project Description

FundRequest is a platform for rewarding open-source contributions using Ethereum smart contracts. People can use FundRequest to compensate contributing developers for finding bugs, improving code, or adding new features. Users who want their code improved create custom smart contracts for each job. Funds are held in the contract until the contract creator accepts a solution or no one claims the bounty.

The FundRequest team is still finalizing details of their technology stack, but they know it will support MetaMask, a chrome plug-in that lets users set up Ethereum accounts easily and access dapps without running Ethereum nodes themselves. MetaMask will allow FundRequest users to fund smart contracts within a browser: presumably, they associate a smart contract with a particular identifiable problem (GitHub issue, Stack Exchange question, etc.) and fund that smart contract with ETH. Other users with the FundRequest plugin will see that a smart contract bounty is associated with the issue, and if they successfully resolve it, the funds will be sent to the Ethereum address associated with their username. This presumes some integration with GitHub and Stack Exchange identities.

Here is a demo of how it would work.

What is the token being sold?

The FundRequest Token (FND) allows holders to claim a portion of fees associated with using the network. The FundRequest platform will take a 10% fee on all ETH distributed, and 90% of that fee will go to token holders. For every 100 ETH disbursed from a smart contract, 1 ETH goes to FundRequest and 9 ETH goes to token holders. FND does not confer any additional rights.

What are the sale terms?

The sale (token generation event) begins November 20th, 2016 and runs until December 1, 2017.

They have a soft cap of $15m and a hard cap of $20m.

What is the project status?

Fundrequest launched an Alpha on the Rinkeby Ethereum testnet in Q3 2017.

Their smart contract code is available for review in GitHub.

Official Resource