FundForge
SCF #29 Activation Award Other Financial Protocol $50,000 View in SCF

FundForge empowers creators with a secure, transparent crowdfunding platform 

Team

mahmudsudo

Technical Architecture Doc

https://hackmd.io/@aWgUK_40R06nkoL34PjCag/SkbZBO3wC

Project URL

N/A

Code URL

https://github.com/mahmudsudo

Video URL

N/A

Pitch Deck URL

N/A

Project Categories

Product Type [If Financial Protocols]

Section

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Requested Budget in USD ($)

50000

Total Expected Roadmap

Overall Vision: Develop FundForge into a leading, secure, and user-friendly crowdfunding platform built on the Stellar blockchain, empowering creators and fostering a thriving community.

Total Estimated Development Cost: $250,000 USD in XLM (over 6-8 months)

Roadmap Phases:

Phase 1: Activation Award Deliverables (1.5 Months - $50,000 USD in XLM):

This phase focuses on building a functional prototype and core functionalities as outlined in the deliverables section. This initial stage is crucial for validating the concept, gathering user feedback, and attracting potential future investors.

Phase 2: Feature Expansion & Refinement (2 Months - $75,000 USD in XLM):

  • Smart Contract Integration : Based on community feedback and platform needs, implement a secure smart contract for managing custom tokens and enhancing campaign logic automation.
  • Advanced Features: Integrate additional functionalities like tiered rewards for contributors, social media sharing options within the platform, and potentially gamified elements to drive user engagement.
  • Security Enhancements: Conduct ongoing penetration testing and vulnerability assessments to ensure the platform's security.
  • Mobile App Development (Optional): Explore building a mobile application to provide a seamless user experience for creators and contributors on the go.

Phase 3: Beta Testing & Community Growth (2 Months - $75,000 USD in XLM):

  • Beta Testing: Conduct a closed beta testing phase with a targeted group of users to gather feedback and refine the platform based on their experience.
  • Community Building & Marketing: Implement the community building and marketing strategy from the Activation Award deliverables. This phase will focus on actively engaging with the Stellar and creator communities, attracting early adopters, and building a strong user base.
  • Legal & Regulatory Considerations: Research and address any legal and regulatory requirements for operating a crowdfunding platform, potentially including licensing or compliance procedures.

Phase 4: Platform Launch & Long-Term Sustainability (2-3 Months - $50,000 USD in XLM):

  • Official Platform Launch: Publicly launch FundForge with a comprehensive marketing campaign to reach a wider audience.
  • Ongoing Operations & Maintenance: Allocate resources for ongoing server maintenance, security updates, and bug fixes.
  • Monetization Strategy Development: Develop a sustainable long-term revenue model for FundForge. Potential options include platform fees on successful campaigns, premium features for creators, or integration with fiat on/off ramps for a wider user base. This phase will also explore grant opportunities or venture capital funding to support ongoing development and growth.

Funding Beyond SCF Awards:

SCF Awards play a vital role in jumpstarting innovative projects like FundForge. To achieve long-term sustainability, we will explore several funding avenues beyond the Activation Award:

  • Community Fundraising: Leveraging the established user base and strong community, FundForge can explore community fundraising initiatives to support ongoing development and platform maintenance.
  • Strategic Partnerships: Collaborate with other blockchain projects, Stellar ecosystem players, or relevant organizations to access resources and potentially integrate complementary services.
  • Grant Applications: Research and apply for grants offered by foundations or organizations that support blockchain-based projects or creative endeavors.
  • Venture Capital Funding: With a well-developed platform, a strong user base, and a clear revenue model, FundForge can approach venture capitalists for potential investment opportunities.

By following this roadmap and securing funding beyond SCF Awards, FundForge can evolve into a successful and impactful crowdfunding platform on the Stellar blockchain.

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Team bio

I am Mahmud Bello , A software engineer and blockchain developer with 6 years experience building blockchan products 

Github : https://github.com/mahmudsudo

Linkedin : www.linkedin.com/in/mahmud-b-613575207

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Product & Architecture

FundForge: Crowdfunding on Stellar

Product: FundForge is a user-friendly, Web3 crowdfunding platform built on the Stellar blockchain.

Problem: Traditional crowdfunding platforms often lack transparency, control for creators, and security for contributors.

Solution: FundForge leverages Stellar's decentralization and security to offer:

  • Creator Control: Creators manage campaign details, funding goals, and privacy settings (public/private campaigns).
  • Transparency: All transactions are recorded on the public Stellar ledger, providing contributors with confidence.
  • Security: Stellar's multi-signature accounts ensure secure storage and disbursement of campaign funds.

Target Audience:

  • Content creators (artists, musicians, filmmakers)
  • Entrepreneurs with innovative ideas
  • Social causes and non-profit organizations
  • Crypto enthusiasts looking for impactful projects

Stellar Integration:

  • Campaign Creation & Funding: Creators define campaign details and funding goals on the FundForge platform.
  • Horizon API: FundForge interacts with the Stellar network through Horizon API calls to:
    • Create a campaign escrow account using multi-signature functionality.
    • Enable contributors to send donations directly to the campaign escrow account (using Stellar lumens or custom campaign tokens - see below).
    • Track campaign progress and total contributions on the Stellar ledger.
  • SEP Integrations: FundForge integrates with SEP-0001 (Payments) to allow users to contribute seamlessly from their existing Stellar wallets.
  • Custom Tokens (Optional): FundForge can explore issuing a custom token on Stellar for:
    • Representing campaign contributions within the platform.
    • Enabling platform-specific features (e.g., voting rights, access to exclusive content).
    • Facilitating future governance models (if applicable).
  • Why Stellar?
    • Stellar's fast, scalable transactions enable efficient campaign funding and payouts.
    • The robust security features ensure safe management of campaign funds.
    • The established ecosystem of wallets and Stellar Anchors allows for easy fiat on/off ramps for contributors.

Deliverables List

Project Duration: 1.5 Months (6 Weeks)

Total Requested Budget: $50,000 USD in XLM

Deliverables:

[Deliverable 1] Functional Prototype (40% of Budget - $20,000 USD in XLM)

  • Brief Description: A fully functional web-based prototype showcasing core functionalities:
    • Creator campaign creation with funding goal, deadline, and privacy settings.
    • Secure multi-signature escrow account creation on Stellar for campaign funds.
    • Contributor interface for viewing campaigns and making contributions using their existing Stellar wallets (SEP-0001 integration).
    • Real-time campaign progress tracking with transparent funding updates.
  • How to Measure Completion: Successful completion will be achieved when the prototype demonstrates all listed functionalities through user testing and interaction.
  • Estimated Completion Date: Week 2 (2 weeks after project start)
  • Budget Breakdown:
    • Development: $15,000 USD in XLM (covers developer time for building the core functionalities)
    • Testing Tools & Infrastructure: $2,500 USD in XLM (covers costs of testing tools and server resources)
    • User Testing Incentives: $2,500 USD in XLM (covers potential rewards for user testers)

[Deliverable 2] Smart Contract Design & Security Audit (20% of Budget - $10,000 USD in XLM)

  • Brief Description:
    • Design and documentation of a secure smart contract (if applicable) for managing campaign logic and potential custom tokens on Stellar.
    • A professional security audit conducted by a reputable blockchain security firm to identify and address any vulnerabilities in the smart contract code.
  • How to Measure Completion: Successful completion will be achieved by having a well-documented and secure smart contract design, along with a completed security audit report with identified vulnerabilities addressed.
  • Estimated Completion Date: Week 3 (3 weeks after project start)
  • Budget Breakdown:
    • Smart Contract Design: $5,000 USD in XLM (covers developer time for design and documentation)
    • Security Audit: $5,000 USD in XLM (covers costs of a professional security audit)

[Deliverable 3] Project Documentation & User Interface Design (20% of Budget - $10,000 USD in XLM)

  • Brief Description:
    • Comprehensive project documentation outlining the technical architecture, data flow, and future development roadmap.
    • User-friendly and intuitive user interface (UI) design for both creators and contributors.
  • How to Measure Completion: Successful completion will be achieved by having a well-structured and informative project document, along with a high-fidelity UI design prototype.
  • Estimated Completion Date: Week 4 (4 week after project start)
  • Budget Breakdown:
    • Technical Documentation: $5,000 USD in XLM (covers technical writer fees for documentation)
    • UI/UX Design: $5,000 USD in XLM (covers costs of UI/UX designer for interface design)

[Deliverable 4] Community Building & Marketing Strategy (20% of Budget - $10,000 USD in XLM)

  • Brief Description:
    • Develop a comprehensive strategy to attract early adopters and build a strong community around FundForge.
    • Implement initial marketing activities to gain awareness and user base within the Stellar and creator communities.
  • How to Measure Completion: Successful completion will be achieved by having a well-defined community building and marketing strategy documented, along with initial outreach and engagement activities demonstrating traction.
  • Estimated Completion Date: Ongoing throughout the project (starts in Week 1)
  • Budget Breakdown:
    • Community Outreach & Engagement: $7,500 USD in XLM (covers costs of community management tools and potential giveaways)
    • Marketing Materials & Content Creation: $2,500 USD in XLM (covers costs of creating marketing materials and content)