To our Community of Imbue:
Since our inception at the end of last year, we’ve been on a mission to provide a decentralized alternative to crowdfunding and VCs. Considering our core values of transparency and accountability, we sought to build a working POC (proof-of-concept) before any private funding or token sales.
That’s why we’re so excited to share the announcement we have for you today. With the team at Web3 Foundation team auditing our public testnet, we have officially passed Milestone 1 for Grant funding!
In case you’re not familiar, the Web3 Foundation supports projects that are building on Kusama and Polkadot. Their goal is to empower ideas that are well thought out and add value to the Dotsama ecosystem and blockchain as a whole.
In their support, they go through a tremendous amount of due diligence on the project, team, their credibility, credentials, and ability to execute.
For this technical milestone, our Dev team have worked tirelessly the last 2 months to build our Imbue MVP. In passing Milestone 1, the W3F team has accepted the blockchain side of our MVP. The core functionality of our chain is officially done!
In fact, there were zero change requests for the code. This means that the auditors saw only suggestions to improve what was already a bullet-proof chain. Not to mention that we over-delivered by completing some of our milestone 2 tasks.
From here, our second milestone will be for creating documentation and building the UI for our crowdfunding portal. Continuing to tackle these milestones will give us an even greater chance of joining the Substrate Builders Program.
At Imbue, we will continue to strive until there is a decentralized alternative to VCs and crowdfunding. And these grant milestones are just the next steps to achieving that dream.
For more details, read the milestone evaluation
Imbue Network is a decentralised crowdfunding DAO built on top of the Polkadot blockchain platform. It is an idea incubator open to the entire world that allows anyone, from any walk of life and for any kind of endeavour, to submit and vote on Ideas worth Funding from the communities that believe in them the most.