First "landing on the moon" and then "saving people", has decentralized crowdfunding finally arrived with Juicebox?
Crowdfunding platforms like Kickstarter and GoFundMe are no strangers to controversy, and when controversial issues reach their sites, they can find themselves caught between different sides of the political divide, their users, and even governments.
Like social media platforms, they can rely on their ToS (terms of service) to revoke service when campaigns pose a risk to their business - even during fundraising.
It’s no wonder that crowdfunding has become the newest paradigm on the blockchain.
Juicebox is a crowdfunding platform where the rules for donations, refunds and payments are codified on-chain. What does decentralization mean for crowdfunding, and why is Juicebox a trend among DAO projects?
About Juicebox
Launched last July, Juicebox is a programmatic money management protocol for Ethereum-based projects.
Unlike Kickstarter or GoFundMe, the deployment of funds is governed by code-based rules, not by platform staff.
The Juicebox is@me_jangoThe first Web3 project established, he met the earliest Juicebox team members on Discord. Juicebox has not been audited, nor has it received any venture capital funding.
In addition to revamping the traditional crowdfunding model, Juicebox also aims to simplify the process of building treasuries and issuing tokens to communities of decentralized projects, which is currently a complicated process. In other words, it makes it easy to start a DAO.
How does Juicebox work?
image description
Project Details: Show project name, description, website and official media (eg, Twitter, Discord).
Funding Cycle: Manage funds by setting funding goals and deadlines.
Distribution: Dedicate a portion of each withdrawal to other Ethereum wallets or Juicebox projects to pay contributors, charities, other projects, or anyone else.
Reserved Tokens: Set the tokens rewarded when the community contributes, and the percentage reserved.
Incentive and Restrictive Actions: Set additional configurations such as discount rates and other restrictions.
As an individual investor who wants to support the project, you can donate your ETH and get project tokens at the exchange rate. For example, you can get 1 million JUSTICE by donating 1 ETH to AssengeDAO.
Currently, there are 372 Juicebox-backed projects that have raised a total of 44,195 ETH. The number one item isAssangeDAO（17,422 ETH), followed byConstitutionDAO（11,613 ETH). Together, they accounted for 66% of all funds raised.
image description
Price Trend and Trading Vol. of $JBX
Why Juicebox is trending in DAO?
Although Juicebox is not funded by any venture capital, it has raised 6,721 ETH (approximately $18 million) through 15 funding cycles (14 days each), led byJuiceboxDAOin their own community funding. Such a financing size is similar to the average Series A or even Series B financing in the cryptocurrency industry.
image description
JuiceboxDAO Funding Distribution
image description
JuiceboxDAO Activities include Pay, Redeem, Withdraw and Reserves
Juicebox makes it crystal clear where funds are coming from and where they are going, and lets the community assess the value and risk of a project.
This meets the requirements of a DAO. It also represents the spirit of Web3, from community to community: a decentralized, token-based economy.
Thoughts on Decentralized Crowdfunding
With the development of blockchain technology, the power of the community has changed from ICO to IDO, and then to pools in these DEXs, such as Curve CIP (Curve Improvement Proposals) and Factory's permissionless pool.
Throughout the blockchain industry, anyone can propose a project, which has led to many interesting advancements, but also many scams.
On Juicebox, everyone can start their own DAO and it will show up.
One of them is called MoonDAO, and its mission is to send a man to the moon. A Crypto Island DAO is proposing to jointly own an island in the Bahamas. Obviously, not every DAO is justified.
In the case of AssangeDAO, due to the sharp drop in the price of its token $JUSTICE, a heated controversy has arisen in the community. Some people ask, is this a call for justice or a hoax? Many donors have cast doubt on the project and its founding team.
Juicebox is a great example of Web3 where anyone can raise money directly from the community. However, not every individual investor has enough understanding to evaluate the risks and benefits of these unaudited permissionless projects or DAOs.
This work is original by the author, please indicate the source for reprinting. Commercial reprinting needs to be authorized by the author, and those who reprint, extract or use other methods without authorization will be investigated for relevant legal responsibilities.
Footprint Analytics is a one-stop visual blockchain data analysis platform. Footprint assisted in solving the problem of data cleaning and integration on the chain, allowing users to enjoy the zero-threshold blockchain data analysis experience for free. Provide more than a thousand tabulation templates and a drag-and-drop drawing experience, anyone can create their own personalized data chart within 10 seconds, easily gain insight into the data on the chain, and understand the story behind the data.
Footprint Website: https://www.footprint.network
Discord: https://discord.gg/3HYaR6USM7
Twitter: https://twitter.com/Footprint_DeFi
Telegram: https://t.me/joinchat/4-ocuURAr2thODFh
The above content is only a personal opinion, for reference and communication only, and does not constitute investment advice. If there are obvious understanding or data errors, feedback is welcome.
Copyright Notice:
This work is original by the author, please indicate the source for reprinting. Commercial reprinting needs to be authorized by the author, and those who reprint, extract or use other methods without authorization will be investigated for relevant legal responsibilities.
