Welcome to milestoneBased
The traditional fundraising approach for crypto projects is seriously damaged. The recent fever for an ICO raise, has proven the system’s inability to protect funds, select decent projects among scams and find viable long term crypto start-ups. During the 2017 ICO boom market a project could attract investments with just an idea and a whitepaper.
The industry tried to improve the fundraising model with different versions (e.g. ICO, IDO, IEO) however none of these were able to ‘fix’ the system. It was like painting over the problem. Since the rise of crypto start-ups more than 2000 projects are registered dead due to inexperienced teams, fraud projects or poor execution and planning. Because of this there is a lack of trust in new projects and teams. Investors either invest too little or they demonstrate lack of interest especially regarding anonymous projects or fresh, new and unproven executives.
So this is where milestoneBased enters the stage to change this for good. It’s a shift of the current paradigm, where we focus on consolidation of the relations between VC and crypto with the help of trustless blockchain-based platform. This shift eventually, will bring start-ups’ and shareholders to a new level of planning, accountability, constant performance and engagement.
There is no need to trust people or methodologies, when there is a smart contract in place controlling the expenses, milestone execution and project performance overall.
So what exactly does it do?
milestoneBased is a DAO platform that provides VCs with an access to the early stage crypto start-ups for effective investment deployment.
Escrow
Imagine, you are a property developer and want to construct a condo. The property development process is comprised of a series of stages or milestones that include: Pre-acquisition; Concept design; Permits and approvals; Pre-sales and marketing; Finance; Construction and Settlement.
Each stage requires execution and a report in front of investors. So you submit a concept design and when it’s approved you get permission and funds to start a next milestone to proceed with the pre-sales and marketing. So before you get to the construction phase you will methodically execute vital steps that ensure property financial sustainability. There’s a very simple mantra: plan — execute — report — receive an approval — next milestone.
In the case of milestoneBased there is an escrow smart contract which plays the role of a silent treasurer and judge. Funds are transferred to founders’ accounts only after KPIs are executed. In this way successful funding depends purely on the performance of the team.
Transparency
Another issue that is popping up in the crypto industry is transparency. Predominant number of projects are driven by founders who are not likely to report on the project performance. Especially when it comes to the product roadmap execution. However, we know non-acquaintance leads to fear, uncertainty and doubt (FUD!). Which makes investors nervous and relations strained.
milestoneBased solves this with one of the key features — roadmap design tool. This helps all the team members stay accountable and keeps existing and potential investors in the loop. It’s made not for control purposes, but to help identify signals before they turn to issues and problems.
DAO
milestoneBased enables founders to talk directly to their ever growing online community that chooses to support/fund them. They are able to interact with their team 24/7. In addition they can send information to the group members about on-going developments and goals reached.
Every next improvement to the ICO model (e.g. IEO, IDO) has brought a certain level of trust and security like access to the project, or legitimacy. However one of the crucial aspects is not yet impacted by these improvements — this is a project performance. So having in mind the need in the complex approach we are glad to present you a milestoneBased — a platform that brings positive and revolutionary changes to the crypto industry by consolidating relations between VCs and crypto start-ups.
Welcome to milestoneBased!
