Invest in projects with visible commitments and share allocation
CryptoVC introduces a revolutionary approach to transparent and trustless investments in the world of cryptocurrencies.
We believe that Crypto Natives should be funded by Crypto Natives onchain.
With CryptoVC Entrepreneurs have the opportunity to showcase their ideas and projects, seeking financial support. However, a crucial prerequisite is that all projects must begin with a certain amount of collateral. Preference is given to crypto-related projects, and, by using ETH as collateral, project initiators can quickly secure a DAI loan through Sparklend integration. This collateral serves as a commitment signal to potential investors.
Investors have the ability to explore existing projects and submit funding proposals in DAI. Once a project reaches its funding target, all DAI investments are aggregated and securely stored within a smart contract. Investors receive project shares in the form of ERC-20 tokens, distributed on a pro-rata basis. Each funded project automatically gets a multi-sig Safe for management actions.
Project creators can then request a tranche of the total invested funds. To do so, they must make a UMA assertion regarding the project's current status. For the tranche to be released, investors must collectively agree on the assertion and sign a multi-sig transaction in project management Safe.
Following the publication of the assertion, anyone in the community can review and challenge the project's status. If no challenges are raised, and the assertion is settled, the tranche is released and disbursed to the project creator.
Funds allocated to the project are automatically converted into sDAI when not in use, allowing all participants to earn beefy interest on their holdings.
CryptoVC is deployed to Goerli for testing: https://goerli.etherscan.io/address/0x662806c86678dd086bb6b2f37a18ff6ece94b28c
On smart contract side:
On webapp side:
the app allows to interact with CryptoVC smart-contract functions
it also allows to propose the project Safe transactions by the creator via Safe API SDK
all the data is fetched via subgraph based on dedicated subgraph (via thegraph)
project metadata is stored in ipfs via web3.storage
we also use Next.ID by Mask Network to fetch identity information about project creators
push.org is used to send project notifications
xmtp is used to handle communication between creator and investors
Contracts:
Web:
Other: