The problem Massfundr solves

There are a lot of platforms for crowdfunding but most of them are not trustworthy enough since lots of frauds are reported and because of this investors lose their money. Also the people who genuinely want to build something do not get proper support. We have solved this (and many other) problems by building massfundr on web 3.0 (blockchain) and taking it's advantage in features like Voting and Escrow. Creator publishes project idea with stage wise details-> Backers invest their money in terms of polygon matic-> Escrow releases funds for stage one of project-> Creator updates progress report at the end of stage-> Backers vote if they want to continue or withdraw their funds-> Next stage begins. Funds are released on stage to stage basis with the use of escrow on blockchain, so frauds are redced drastically. Snapshot of investment ratio is taken so that in case a group of investers backout in the middle of a campaign or the creator cancelles the campaign, the funds are distributed back to the investors according to the same ratio.

Challenges we ran into

Major problem that we faced during the development of this application is the size limit of the Ethereum contracts which was introduced as a security measures, due to the complexity of the application it was exceeding the limit quite often, an extensive research of smart contract practices and efficient programming, helped us in overcoming this problem.