OpenFund

Inspiration

The idea that every transaction ever is recorded on a ledger permanently which everyone has access to, was revolutionary to me. We discovered some flaws in modern fund-raising platforms, which were:

Too much concentration of power in the central managing authority.
Donators had no power over the equity they contributed.
There was no track-record of transactions (incoming / outgoing) related to the fundraiser.

So I teamed up with my classmate and developed OpenFund

What it does

The Open Fund platform is a fundraising Web3.0 platform

The user can create a campaign and mention its requirement. Let us call him a campaign manager Ex: A father creating a campaign for his son's heart operation
After creating a campaign and giving the reason for it. The donors can donate some amount to the campaign
The amount is stored in the address where the campaign is deployed but not in the campaign manager account
If the campaign manager wants to use the money, then they need to create a request mentioning the amount and reason to the donors Ex: father asking 0.2 ether from the balance for medicines for son
The donors then can vote if they feel that the request is genuine Here while voting, the value of a vote changes based upon the money they contributed to the balance.
The campaign manager can use the money if the voting share crosses 50%. Otherwise, they won't have access to it. Ex: The father can use the money for the son's medicines
The campaign manager can create as many requests as he wants to the donors
The campaign manager has access to delete the whole campaign if the balance in the account is 0.

The imp and cool feature: The donors and campaign manager can view all the transactions and their reasons on the website

How we built it

We built using Solidity, nextjs, javascript

Challenges we ran into

To reduce the gas price on the functions in solidity so that the users dont have to pay more ether.
The main challenge was displaying all transaction details between the donor and the campaign creator. For that, my teammate and I struggled and found the solution by storing all the minimal data of the transaction and returning the data to the frontend.

Accomplishments that we're proud of

We are proud that we successfully created the Web3.0 project. We are proud to say we are blockchain developers as we spent some days learning Solidity code and learning more about blockchain and its functionalities.

What we learned

We learned how to minimise the gas price. We learned solidity and got a good level of understanding of the Ethereum blockchain We learned creating DAAP

What's next for OpenFund

We are planning to improve the frontend and also deploy in main Ethereum blockchain in future. We will make it platform where many non profit organizations can run their ads from which we gain money.