One of the projects that I've been following as of late is Pledgecamp, a decentralized Crowdfunding that looks to help businesses fundraise. For once, we've got an ambitious project that has the potential to compete with existing rivals; Kickstarter & IndieGoGo. Pledgecamp is building a community and has unqiue structure that foster engagement, to read up more about it, read the original post to be found on PledgeCamp official Medium Publication.
The mechanics behind Pledgecamp’s native ecosystem
Backers are one of the most critical components of the crowdfunding ecosystem. With current day options however, backers are limited to investing funds. They do not have official options to contribute to their favorite projects in ways beyond investment.
So we decided to take it a step further.
Our team realized that in order to create a more dynamic ecosystem, it was necessary to capture backer interest beyond the funding stage. To that end, the Pledgecamp platform will host a native “Smart Crowd”. This crowd will be an empowered user base that contributes through two primary functions:
- The Gig Economy
- Becoming a Moderator
The Gig Economy
By leveraging blockchain technology and our native PLG (Pledge Coin) token, we aim to build an open and decentralized model of innovation. The platform utilizes a gig economy wherein the creators can hire temporary workers from our Smart Crowd when needed. The Smart Crowd can perform the following tasks, aka “bounties”:
- Content Creation: Create YouTube videos, blog posts, infographic creation, logo/branding design, etc.
- Social Media Promotion: Provide exposure for the creator’s campaigns by sharing links, retweets, posting to Facebook, Instagram, etc.
- Survey Creation: Fill out surveys to help collect market research data.
- Localization/Translation: Translate marketing material, product descriptions, or product manuals into additional languages for greater reach.
The above-mentioned bounty possibilities constitute Pledgecamp’s internal gig economy which can be automated, scaled, and tracked across the globe. Incentivizing these activities through monetization will empower users to express their passion and skill sets to grow the creator’s project.
Becoming a Moderator
Pledgecamp uses two tokens, Pledge Coin (PLG) and Camp Share (CS). PLG is an ERC-20 utility token which is used to pay for and reward various services within the ecosystem. If a user chooses to stake their PLG tokens, they will be rewarded with the CS tokens. A Camp Share is a non-exchange token that allows users to achieve Moderator status and earn compensation from the listing fees collected by the platform.
Here are some important points about the CS token and achieving Moderator status:
- User must perform KYC and meet eligibility requirements for their jurisdiction (in order to acquire CS).
- PLG is transferred to a non-trading “staking” smart contract.
- CS is awarded to the user at a fixed 1:1 ratio. 5% of the token supply is to be used to supplement the earnings of early CS holders, so it pays to get CS early on.
- A minimum balance of 100,000 CS is required to achieve Moderator status.
- Burning CS will return an equivalent number of PLG after a 30 day vesting period, reversing the stake.
- As the demand for CS increases, more and more PLG tokens will get locked up within the ecosystem, decreasing its overall supply.
- Moderators must maintain the overall health and well-being of the Pledgecamp ecosystem by removing behavior violations like scam projects, abuse, illegal activity, etc.
- As a reward, the total campaign listing fees generated within the system are shared amongst the Moderators. Pledgecamp is aware that in its nascent stage, the number of campaigns listed will be less, which is why 50 billion PLG (5% of the initial token allocation) has been kept aside to reward the Moderators in the early days.
Conclusion
Pledgecamp wants to build an ecosystem where creators and backers can work synergistically with each other to organically grow their crowdfunding ecosystem. To do that, the creation of a Smart Crowd is absolutely critical.
Since the incentives are tied together so intimately, all parties can work together as a team to scale their projects. We look forward to having you be a part of our future Smart Crowd!
I have heard a lot about Pledgecamp and definitely better than a lot of the crowdfunding projects out there that we have like kickstarter etc....
I've been following Pledgecamp closely over the last few months. Hopefully they'll get listed on Binance soon, so we can bootstrap PledgeCoin. I'm looking to get really involved with the crowdfunding scene, once Pledgecamp releases their platform. I've invested in 2 Kickstarter projects before, and enjoy helping startups fundraise to make their ideas become a reality. I think Pledgecamp has something big planned out for us, and it's no surprise that they're able to secure advisers such as Randi Zuckerberg. It will be Pledgecamp and FacebookCoin (Libra) that will be taking the spotlight, I believe some time next year
Randi Zuckerberg on board as one of the advisers! Wow, Facebook is really getting themselves more involved in the Cryptospace. Crowdfunding and Stablecoins, what a good combo
Never, heard of Pledgecamp before, so essentially it's an ICO platform? How is it going to be different from Kickstarter or IndieGoGo. You're just raising funds on behalf of Projects?
Head over to their official website: https://pledgecamp.com/
Crowdfunding is all about to investing in upcoming Business ideas. Similar to ICO, however, Pledgecamp is designed to ensure greater transparency and accountability through the use of Blockchain. Essentially, cutting out the middleman whereas granting greater responsibility to founders/backers
I can only see one winner in the long term for the best crowdfunding platform.
Pledgecamp will change the game and offer a viable solution to the transparency and accountability issue on current crowdfunding platforms, as well as a major use case for blockchain technology.
Pledgecamp has a lot more to offer, when compared to existing Crowdfunding platforms. I would recommend everyone to read their whitepaper, to get a better idea as to what Pledgecamp is set out to do. Definitely, find this the most anticipating project of 2019
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@Pledgecamp is one of the best things out there on blockchain.