UFund

UFund

Fund public goods with us in a decentralised trustless way

The problem UFund solves

The problem UFund solves:
UFund is a public crowdfunding platform that can be used to fund public goods for the use and consumption by the public itself. Being a DApp, it does not rely on a central authority or intermediary to manage transactions. This eliminates the need for intermediaries such as banks or payment processors, making it easier and cheaper for projects to raise funds.
It also enables transparency which is a critical feature for crowdfunding platforms.

The FundingContract (a smart contract) is used to automate the funding process, and all transactions can be recorded on a public blockchain. This allows investors to see where their money is going and ensures that projects are held accountable for the funds they raise.
It also makes crowdfunding accessible to people around the world. With traditional platforms, investors are often limited to certain countries or regions, but with a decentralized platform, anyone with an internet connection can participate. The investors can fund any project of their liking by depositing ETH which would be vested throughout the duration of the project.

They can follow a monthly SIP plan or any duration of their liking till the funding is completed. If the investors are not happy with the progress of the project or the contractor is not doing their work, they can withdraw any time from the project. They would be , of course, charged with a withdrawal fee in order to discourage unnecessary withdrawals. The contractors can also claim the funds which they have recieved from the public

Challenges we ran into

Most of the challenges we faced, were in fact during sponsor integrations, since a lot of the sponsoring organizations are also in their early stages.

  • We had trouble integrating the graph protocol to index our frontend, and push protocol's notification systems, but eventually succeeded with the respective teams' help.
  • We couldn't implement biconomy wallet as there was surprisingly little about it in the docs. The biconomy service was hard to interact with the rest of the system.
    -We planned on implementing all the functions of the smart contract in the frontend but the time turned out to be too less. That's because the bulk of our time was spent in creating the contract itself
  • We have built a subgraph but couldn't integrate it with the front end due to time constraints

Discussion