Improving the current crowdsourcing platforms, using Ethereum we can introduce new ways of funding which will allow projects to be funded in a transparent and decentralized way.
What it does
Firestarter is a hybrid platform for community-based projects that leverages the power of Ethereum.
Project owners can start a new project by describing their project and their goals, login/register is done through metamask and no sign up is required.
Users have 3 ways of funding the project:
- One time Ether payments
- Vesting (vest money over some period of time, on each block, the project owner will get a small percentage of money, users can stop vesting at any time and withdraw the rest of their money)
- Compound Investing - Send Dai tokens which will be locked in Compound, the interest earned from that money will go to the project owners, users can withdraw the same amount they put in at any time.
In order to give investors more control over the project they invested in, we integrated DaoStack, where users who invest money get reputation in the system. Users vote with that reputation on feature proposal which they can accept/reject.
Accomplishments that we're proud of
Working for 24h straight and still being able to produce functioning code. Also integrations with platforms like DaoStack and Compound,
What we learned
Sleep is overrated and salmon sandwiches are great. Besides that, we had a fun time learning more about DaoStack, and yes, we built a DAO. Compound also provides an easy to use interface which enables the user to start earning interest right away, which is one of the key features.
What's next for Firestarter
BUIDL some more, and use our own platform to fund further development.