Nebula

Nebula

Redefining crowdfunding: Empowering communities through transparent, decentralized impact-driven investments.

Created on 18th October 2024

Nebula

Nebula

Redefining crowdfunding: Empowering communities through transparent, decentralized impact-driven investments.

Why are you participating for Based India?

The future of finance is onchain, and that’s where we want to be. We are drawn to Base because of its clear, ambitious goal: to make the onchain platform as impactful as the internet itself. In many ways, the parallels are clear. Just as the internet democratized information and communication, enabling people from all corners of the globe to connect and collaborate, the onchain platform is democratizing finance. But there are still obstacles that need to be overcome—scaling, usability, security—and that’s exactly what Base is tackling head-on.
What excites me the most about Base is that it’s open-source and free to use. Another reason we want to be part of Base is its emphasis on collaboration. As we have come to know, the blockchain ecosystem has always thrived when people come together to build and innovate. As a developer, I’m excited by the prospect of working on a platform that is built with the long-term in mind.

We are participating in Based India because, as a team with roots in India, we see immense potential for blockchain technology to address some of the country’s unique challenges. India is a land of innovation and rapidly evolving digital infrastructure, yet many people still lack access to efficient financial services. Our idea for a decentralized crowdfunding platform can empower communities by enabling them to raise funds transparently and securely.
This approach is crucial in India, where grassroots initiatives often face difficulties in securing funding and ensuring accountability. By giving donors a voice in how funds are spent, we will ensure that every rupee is used wisely, reducing the chances of misuse and fraud. This aligns with the values of transparency and democracy, which are essential in solving real-world problems in India, such as rural development, healthcare, and education. Through this project, we aim to contribute to India’s growing blockchain ecosystem and help make financial tools more accessible to all.

What challenges are you focusing on?

Decentralized Governance: Creating a system where donors have proportional voting rights to decide how funds are used introduces complexities in managing decentralized decision-making fairly and transparently.

Smart Contract Security: Ensuring that funds are securely held by smart contracts and are only released based on voting outcomes requires building and testing robust, secure smart contract logic to prevent vulnerabilities or misuse.

Fair Voting Mechanism: Implementing a voting mechanism where each donor's voting power is proportional to their contribution, and ensuring that the majority decision governs the fund release process, is a key challenge.

Transparency & Trust: Building trust among users by maintaining transparency in fund management and voting processes to prevent fraud or mismanagement of funds.

User-friendly Interface: Ensuring that even non-technical users can easily connect wallets, create campaigns, donate, and vote on proposals through an intuitive Next.js interface.

Interoperability: Seamlessly integrating frontend technologies like Next.js, RainbowKit UI, and Wagmi with smart contract interactions, ensuring that wallet connections and voting processes work efficiently across different blockchain environments (e.g., Polygon Amoy, Base Sepolia TestNet).

Real-time Voting & Fund Release: Managing real-time updates for the voting process and ensuring that funds are automatically and accurately released based on donor decisions.

How does your submission address this challenge?

Our submission addresses the challenges of creating a decentralized crowdfunding platform by focusing on user-friendly design, transparent governance, and secure fund management. By allowing donors to have a say in how funds are used, the platform fosters trust and accountability among users. Simple templates for spending proposals and an easy-to-use voting interface ensure that everyone, regardless of technical skill, can participate in decision-making. Regular updates on fund usage and voting outcomes maintain transparency, while secure smart contracts protect the funds from misuse. This approach creates a fair and engaging environment for both project creators and donors, making the crowdfunding process more democratic and trustworthy.

Challenges we ran into

• Setting up wallet connections with wagmi and RainbowKit was a new concept for us. While these tools offer excellent abstractions for handling wallet connections, as beginners, understanding how to correctly configure connectors and handle wallet interactions was overwhelming at first. Now, how did we overcome them? We studied wagmi and RainbowKit documentation, implemented basic wallet connection functionality, and gradually added custom features like handling multiple wallet types. Step-by-step, we built confidence in integrating wallets into Nebula.

• Other than this, what we struggled for a while was learning to write the ignition module for our smart contract, which once we figured out, came out to be quite easy.

• Fetching data from the blockchain and displaying it on the frontend was tricky. It wasn’t always intuitive how to integrate blockchain events and data into a Next.js project. By using wagmi hooks like useReadContract, we were able to listen for contract updates and display real-time data.

• As beginners in Web3, the sheer volume of new concepts—smart contracts, wallets, gas fees, testnets—was overwhelming at times. We split up tasks and tackled them one by one, allowing each team member to focus on different aspects like contract development, frontend integration, and wallet connections. Sharing each other's updates in virtual meets definitely helped us out a lot.

• The voting and proposal feature was the most challenging aspect, especially since decentralized governance models (DAO-style) were completely new to us. Although we haven't been able to implement the vote and withdraw proposal feature to our application in this version, we are looking forward to incorporating them in updates.

• Making parts of it responsive has also been quite a task.

Additional Features

Although we initialized our project before the buildathon, we have implemented most of our features during the duration including:
• Campaign Dashboard
• Campaign Addition
• Withdrawing funds from a campaign
• Funding a campaign

These are the important ones among others.

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