Project Link: 👉 Malaika
A Decentralized Crowd Funding System on the blockchain that issues reward tokens and allows donaters to earn as long as they hold the reward tokens.
An idea (eidos) is the source of a thing, its prototype, the underlying reality of any particular object. - Plato
The futility of an idea is often born from lack of resources. This implies that having available resources is a prerequisite for bringing an idea to fruition. Whether it is a real estate project requiring substantial funding, a groundbreaking business idea, a potentially viral music video, or a brilliant startup, the absence of necessary resources often hinders their realization/actualization.
In a conventional context, these ideas frequently fail to materialize due to a lack of connections. Even if they are presented to prominent financiers, personal biases or differences may cause them to be dismissed outright. Moreover, relying solely on major financiers perpetuates a system where power and wealth remain concentrated in the hands of a select few, who only offer meager portions to those who put in the hard work.
Taking a creator percentage serves as an incentive for honest creators. Let's consider a scenario where a real estate project is being proposed. The owner of a piece of land with the intention of constructing a 10-storey building can list the project on the marketplace, seeking additional funding to transform it into a 20-storey building. In return for their investment, the owner offers a 50% share in the project's profits. The contract will remain valid for a duration of 30 years.
Providers interested in participating can buy into this contract and will receive tokens based on the percentage of their investment in relation to the total funding required.
The formula for calculating the tokens for each provider is as follows:
TK = (buy-in * 100) / amountNeeded
These tokens will play a crucial role in calculating the return of your buy in. These tokens hold inherent value throughout the duration of the contract and can be freely traded, transferred, gifted, inherited, and sold. It's important to note that for any specific contract instance, there will only be a maximum of 100e18 contract tokens in circulation, representing the percentage of providers involved in the project.
As the project generates profits, these profits will be shared among the participants. Each token holder will receive a proportionate share of the profits based on their token holdings. The return on investment (ROI) for each token holder can be calculated using the following formula:
ROI = (TK * profit) / 100
Also, there will be governance amongst the token holders so as to decide the future of the contract through community voting.
The project will be open-sourced and will be available on GitHub. The project will also be available on the ethereum network.
- Alchemy-sdk
- Openzeppelin
- Hardhat
- Chainlink
- Ethers
- create-web3-dapp