Status, an open set of projects building peer-to-peer technologies powered by blockchain, has introduced the beta version of Assemble, a decentralized crowdfunding platform aimed at supporting web3 projects.
Completely open source, Assemble connects a growing community of project creators with funders from around the world. The platform consists of:
- Creators – Developers, teams, and individuals with ideas they need funding to produce.
- Proposals – Projects or ideas submitted for community funding.
- Funders – Organizations, evangelists, and individuals who support projects they are passionate about.
- Cryptocurrencies – Project creators can select the currency they wish to receive and funders can pay in any token they wish (so long as it is available on Kyber Network).
“To stay in line with the vision of web3 – we need to find more open, fair, and safe ways to crowdfund the projects we are most passionate about. We cannot rely solely on grants programs to power web3 into fruition. We need a means of enabling everyday people to contribute what they can, to projects they need, in a reliable and secure way. Assemble enables crowdfunding for projects of all shapes and sizes to kickstart their work in a truly decentralized manner.”
– The Status Team
How It Works
On Assemble, project set-up is simple. Creators choose the token they want to receive funding in and can add relevant project details, media, and set a funding goal which gets stored via IPFS.
Moreover, funding a project is also simple and only requires an ethereum wallet and tokens to pledge.
Funders can choose to support projects in the tokens of their choosing. Tokens are swapped via Kyber Network into the token the creator selected during the proposal set up. Project creators can withdraw funds from their campaign at any time.
Status Network Funds
Initially, the Status Network team will be the first to use Assemble to fund projects that contribute to its overall mission of creating sovereign and open communities.
$50,000 has been reserved to support infrastructure projects, tools, products, DApps, and community groups. Currently, donation amounts will be capped at $1,000 per recipient while Assemble is still in beta.
Those interested can check out the initial project proposals already listed on Assemble.