Learn about Fundition Fund Program and how you too can get our support

Many people are interested in our Fund program and often ask us questions about the reasons and ways Fundition supports projects. We are always open for your questions. Continue asking them and learning about Fundition, it will only help you in your future projects. With this post, we do hope that we will answer some of those questions and create a text that you can reference to others when they find themselves wondering about our program so feel free to share this information with those you think will benefit from it.

Fundition is reading and going through all of your projects and news about them every day to find those that are eligible to take part in our funding program. We have an estimated amount of $103389.59 per year in SteemTokens and we are distributing them in a way that makes the world a better place. In this post, we will give you important informations on how the program works.

All projects are accepted as long as they follow the code of ethics. Keep in mind that the acceptance by Fundition does not mean that a project will be eligible for the Fundition Fund program (ie getting upvotes from @fundition). Fundition has a vision of changing the world for a better future, projects that follow this vision have the biggest chance of receiving Fundition support.

Innovative projects need to be about a new product or technology that is innovative and has a clear potential for mass adoption. It could be an advancement, improvement or augmentation for the Steem blockchain or the improvement of some other product. Charity projects must have a purpose to improve the lives of a group of people (more than one person or one family). It can also be about improving the welfare of a group of animals or pets. Sustainability projects need to improve the environment by reducing pollution and waste or promote environmentally friendly methods of energy production. Education projects should improve the education environment of a group of people or a community or introduce education in an area which didn’t have access to it before. Art projects that are supported need to have the potential to promote Steem and its applications, impact and or improve the lives of a group of people or be enjoyed by a large group of people.

Fundition has a team of Auditors who are skilled in monitoring and auditing projects. They go through all the projects and decide on which would be eligible to submit for our fund program. The Auditors are not the Curators. The Auditors only provide recommendations and notes but the final decision to support a project or not is made by the Curators.

The Auditors keep their identities secret to avoid any opportunities for interference. They will ask the Founder Support Team to contact the Founders when there are unclear points or when a project has the potential to get Fundition support but needs some further work to be done. Reviews are publicly available for all users to read but people do not only see reviews made by auditors, they see all upvotes for each project’s update and its estimated value in USD.

In order to prevent scams and frauds the verification process is a vital stage in the process of approving projects. It also has another purpose, it helps Fundition to get to know the founders and to trust them in the early stage of auditing. This provides security for Backers and Investors when making the decision to donate or support a project.

Founder of the project will be required to confirm his or hers social links. Those links will be checked and they have to be well connected to the account with which they created the project. By creating the project on Fundition, founders should be aware that their background will be checked in order to prevent any scam attempts. All links and references are went over just as the organizations are contacted by e-mail, phone etc. Projects which do not go through this step or do not accept this verification of social links will not be eligible for Auditing. The verification information is encrypted and stored in the Steem Blockchain and only visible to our Auditors.

Projects are queued for auditing and the time taken may vary according to numbers of projects coming in. Asking Founder Support for a quick auditing is strictly prohibited. Our work is based on the proof-of-merit which means an auditing process can start once there is an update. The initial proposal may have been approved but it does not mean that every update will receive Fundition support.

The assistance from Fundition has a purpose to make the project better and to attract Backers and Supporters. Every Founder can ask for advice and help in improving their project from the Founder Support Team and we take no charge or commission for that service. Giving help, however, does not mean writing the project for you. You are required to make regular updates and provide news about your project. Fundition will look more favorably on those projects where the Founder is making strong efforts to promote their project more widely. Keep in mind that projects which are badly written, incomplete, breaking copyright rules or not following our rules will not be supported by Fundition and depending on the severity of their transgressions may even be removed.

In addition, there is always information to be found on our discord server by visiting rooms like about-fundition, faq, and help-center. Our purple paper is available on fundition.io just as the information about Fundition Fund Program and ways you can contact us if you need any help. We will be happy to be there for you when you need us.