Scruge is a DAO for tokenised crowdfunding. Using a decentralised stable cryptocurrency and governance by prediction markets, we bring a transparent and decentralised mechanism for conducting crowd sales.
1. Before the campaign, founders publish a roadmap, describing timeline and share of overall funding they require at each stage. 2. After the finish of a successful campaign, raised money gets locked in stable cryptocurrency in smart contract on the blockchain 3. When the deadline for milestone approaches, founders present evidence and report on their progress 4. Funders vote whether to release next portion of funds 5. If the majority of investors vote to release funds, then funds are released, and the project continues. If the majority votes no, then unspent money stored in smart contract get returned to funders. 6. Repeat steps 3-5 until all milestones have passed, or money has been returned at some point.
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Ph.D. | CEO | FinTech in Stocks | Blockchain in Cryptos | Author of Amazon Best Sellers in Online Trading Rated on Mar 7, 2019
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Even though KYC does not guarantee ICO success nor is a call for investment, the process verifies the key members of the founding team as a first key test.
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Will rate this project after the team passed the KYC.
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Idea creation. Decentralised organization for fundraising.
2
Q4 2018
Yaroslav, Sergey and Evgenia join the team.
3
Q4 2018
Russian and English version release.
4
Q1 2019
Crowdfunding marketplace.
EOS cryptocurrency wallet.
Personal login system.
Activity bar for controlling campaigns.
Bounty Marketplace.
5
Q1 2019
Decentralised protocol and centralised app dichotomy explanation.
Description of a token sales protocol.
Introduction to the token economy.
Overview of governance and problem with commonly used.
approaches.
Rationale behind choosing EOS.
Description of architecture of Scruge app.
Roadmap.
6
Q2 2019
Advanced profile dynamics.
Advanced security features: multisig, recovery, mnemonic code. DEX integration.
Explanation of token economy.
Introduction to governance.
Privacy policy, KYC/AML approach.
Extensive overview of competition. Crowdfunding protocol release.
KYC/AML integration. Establishing a company and a legal framework. Small Crowdfunding Campaign.
7
Q3 2019
Token economy release with a stablecoin.
Alternative crowdfunding mechanisms (e.g. dutch auction,
continuous fundraising). Website redesign.Scatter integration.
Crowdfunding and bounty marketplace integration. Redesign. DEX integration.
Advanced. Release of non-monetary governance model. First crowdfunding campaign.
Setting up an advisory board.
8
Q4 2019
DEX integration.
Campaign creation portal for founders . Main Crowdfunding Campaign. Non-monetary governance. Release of monetary governance model.
9
H1 2020
Monetary governance. Advanced analytics for founders.
Fiat gateway integration.
Cross-chain support.
