This can be done with an amendment to the project and will need to be voted through by the original contributors
Yes, remaining milestones that have not yet been put up for a vote can be edited as long as the total funding amount remains the same. However, any changes to milestones need to be put up for voting by initial contributors. Once approved, updated milestones will show on an initiator’s project dashboard.
In the event the contributors believe the project has deviated from it’s original promise, any contributor can raise a vote of no confidence, if that vote passes, then the locked funds are returned to the original contributors
Votes are given by all original contributors that have contributed funds to your project.
By setting and publishing their milestones, Initiators can stay engaged and update community members with their progress directly.
Proposals are approved by a council formed of Imbue founders, community ambassadors and advisors.
Imbue is unique as it ensures that your funds are protected and you can issue a vote to return the remaining funds if a project doesn’t deliver on their promises.
Contributors vote on whether a project milestone has actually been completed, meaning that their funds are protected and can be returned. This allows you as an initiator to build with the community that will support you from the beginning.
Imbue works in a few simple steps.
First, an initiator proposes an idea and defines the milestones for their submission. They also set their project's funding goal and define what contributors will receive in return for funding their project.
If a community member wants to support the project, they contribute towards the funding goal.
Once the project succeeds in reaching its funding goal, the initiator gets the first amount requested unlocked immediately.
Once the initiator completes a milestone, they submit it and their original contributors can place their votes using the $IMBU token.
Only the original contributors can vote on the success of a milestone. If successful, the initiator gets the funds for that milestone unlocked.
Imbue Network is a decentralised crowdfunding DAO built on top of the Polkadot blockchain platform.
This project is not a launchpad; it is an idea incubator open to the entire world that allows anyone from any walk of life and for any endeavour to submit and vote on ideas worth funding from the communities that believe in them the most whilst ensuring funds are protected until demonstrable progress is made.
Anyone submitting a proposal is called an initiator, and anyone contributing funds is called a contributor.
Yes, the $IMBU token powers the Network; it is primarily used for governance.
A single $IMBU token is equivalent to a single vote; the more a contributor invests into a project, the more say they have over unlocking funds. and will be used to vote on or propose ideas and milestones.
For now 1 $IMBU equals 1 vote. But once we integrate more currencies we will have to equate it to the value of imbue at the time of the transaction.
No ETH launches, no private/seed sales though; only early community members will get access to buy it closer to launch.
Anything! Imbue is being built to support all projects.
In the early stages there will be a focus on crypto projects however the aim is to be a community full of ambitious and innovative concepts brought to life through the direct support of others.
Imbue ensures accountability powered by the blockchain and aims to end the rampant scams in the crypto industry.
Our ethos is you should only get rewarded for demonstrable progress. Therefore, we are committed to only selling tokens after creating a working product.
We’re available on all social media platforms. Our telegram and discord are a great place to ask questions and interact with the community.
This will be npos just like any chain built on dot.
At launch there will be 20 nodes which will grow as more members join the network.
Yes, we plan on launching on both. We strongly believe we need a canary network.
A canary network is one of the most fundamental aspects in software engineering.
It's an established best practice being used by all the top tech companies in the world. It's also one of the reasons we believe the polkadot ecosystem is so unique.
While we will launch on both, whether we have one currency or two is TBC but we are leaning towards having only one currency on both
We aim to target Kusama first to build out all the integrations with partners and stable currencies then migrate to polkadot once we have the foundations in place to hand over the decisions to the DAO
We don't need them to build a working prototype. Our ethos is to only get funding once you have demonstrable progress and no to private/seed sales.
The Imbue team is challenging the preconception that you need to launch a project before any progress is seen.
We set out to do things differently with IMBUE. We have been working with our Web3 foundation grant to create a working prototype. The plan is that once we have a working prototype we can go out and get funding with much better terms for both us and our community.
We currently have 12% of the supply set for investors but that could potentially change based on both valid feedback from the community and/or what a potential partner/investor can bring in.
We want to grow the community with little risk because we aren't asking for any of their funds till after the prototype is built.
This way, we avoid a large amount of FUD and anger because price is not the main point of the conversation, and we can focus on building the right product.
If a project reaches its funding goal, Imbue applies a 3-5% fee to the funds raised. These funds are then used for whatever the DAO votes is best.
If a project does not reach its funding goal, no fees are collected.
Funding isn't an issue; the issue is funding from the right people. Most projects that want to launch now either fund via a VC/ETH launch or both. Private/seed sales get a large portion of the supply then by the time it gets to public you end up with very little supply hence the need to whitelist.
Also IDOs launch and there is no guarantee your funds will be used for what's promised. Projects could get lazy and under deliver in the best case, rug in the worst case.
I am saying let your community fund you from the start, they get a large portion of the supply and are far less likely to dump as soon as you launch.
Instead of staking, you support projects proposed on IMBUE and you receive a percentage of your amount as a reward based on the ROI set by different project initiators.
As a project and current market conditions finding money is not really the problem.
Yes. Imbue is open to everyone and anyone, we would love it if you invited friends to join the community!
Yes there will be rewards to the most active community members both on our channels and socials
Yes, we are keeping a record of early members who add value. This list is amended every month based on the top contributors in the community. This list of consistent contributors will receive rewards and allocation based on their contributions.
Our public round is open to community members, and funds will be unlocked per block for 12 months.
Yes, we will announce where people can buy well in advance before our official launch.
Our Twitter, Telegram and LinkedIn accounts are up and running. At this point we are working on growing the communities and planning on launching Discord soon.
Imbue is entirely community driven and we value any input so feel free to share suggestions and ideas to make imbue better. Another way to help is by growing the community and spreading the word; the more people are aware, the more likely we can succeed.
Imbue doesn’t have a white paper, too many projects in this space produce a whitepaper that promises the world and rarely delivers.
We will produce a working MVP and then sell the token based on a working product.
We didn't follow that path because we believe a working product is more important which is why we are focused on delivering rather than writing. Until then no sales will be made, no investors, no private/seed sales and no VCs to dump on launch.
Our team is committed to bringing in agile practices that have been so successful in the IT industry.
We have a public board where the community can see what every single team member is working on. This level of transparency is unheard of in the web3 space.
We update this regularly based on the tasks we are working on and our progress. Additionally, we regularly share updates on our Twitter, Telegram and Discord channels.