We are happy to announce our Updated version of Fundition Fund Program. With the help of Steemit Inc., Fundition can fund meaningful and impactful projects with the aim to make the world a better place, and impact the daily life of many people, communities and in the end all of you.
Here you can find older version, with time we will update this!
Fundition Fund Program 1.2
Projects that are eligible for Fundition Support
In Fundition all projects are accepted as long as they follow the code of ethics. However 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, thus projects that follow this vision have the most chances of receiving Fundition support.
Fundition is supporting different categories of project :
Fundition supports innovative projects when there is :
- Improvement of a product or a technology
- A new product or technology, it should be an innovation, something completely new in the market.
- Clear potential for mass adoption
- An advancement, improvement or augmentation for the Steem blockchain. The project should impact the development of the Steem blockchain.
- Fundition supports charity projects when :
- The purpose of the project is to improve the lives of a group of people
- The project impacts the well-being of more than one person or one family
- The project could reach a group of people or a community
- The project will improve the welfare of a group of animals or pets
- Fundition supports environmental projects when :
- They will improve the environment, for example through reducing pollution or waste
- The aim is to reduce environmental impact of an existing activity
- They are promoting more environmentally friendly methods of energy production
- Fundition supports educational projects when :
- They improve the education environment of a group of people or a community
- They introduces education in an area which didn’t have access before
- They educates a group of people on a specific theme
- Education can improve the lives of a group of people
- Education can reach more than one person
- Fundition supports arts projects when :
- They has the potential to promote Steem and its applications
- They will impact and or improve the lives of a group of people
- They will be enjoyed by a large group of people
Fundition does not support projects that :
- Are seeking delegations which also means using the fund to power up
- Are unethical, racist, sexist or will impact negatively on the lives of disabled people, or any minority group
- Are for personal benefit or gain only with no wider benefits to the community
- Will reach or benefit only one person or one family
- Are seeking for prize funds for contests
Linking social media
One of the common issues for any crowdfunding organisation or platform is how to prevent scammers and fraudulent proposals.
Another common problem is how to guarantee that project founders will really use the funds raised for the actual purposes outlined in their project proposals.
To help particularly with the first of these issues the verification process is a vital stage in the process of approving projects. The verification process also helps Fundition to get to know the founders and to trust them in the early stage of auditing. Moreover it has the benefits of giving the Backers and the Supporters a sense of security when they are interested in a project or making the decision to donate to or to support a project.
Projects which do not go through this step or do not accept this verification will not be eligible for Auditing. This verification information is encrypted and stored in the Steem Blockchain.
There are regularly occurring questions like “what happens if Founders do not use other social media” or “How to confirm my account if I don’t have the option for confirming my social media”
Fundition has a team of Auditors skilled in monitoring and auditing projects who will go through all the projects that will be on the Curation page.
The Auditors keep their identities secret to avoid any opportunities for interference (through any form of unwanted persuasion or influence) and will ask the Founder Support Team to ask questions to the Founders when they see unclear points or when a project has the potential to get Fundition support but needs some further work to be done on the proposal.
The project reviews done anonymously by the Auditors are publicly available for all users (Founders, Backers, Supporters) to read.
The Auditors are not the Curators (who vote on posts).The Auditors only provide recommendations and notes but the final decision to support a project or not belongs to the Curators.
It is important for the Founders to follow these rules otherwise it is possible that the Support team will not answer to your questions or requests.
There is no need for the Founder to request an auditing. Projects are queued for auditing and the time taken may vary according to numbers of projects coming in. So asking Founder Support for a quick auditing is prohibited.
Fundition works based on the proof-of-merit thus an auditing can start once there is an update. If the initial proposal hasn’t been audited it is possible that it will start with the update.
The initial proposal may have been approved but it does not mean that every update will receive Fundition support. The updates should contain new information that adds to the original project and shows progress on the project. Fundition reserves the right to not upvote an update if it does not show an actual step forward in the project.
Any threat or abuse to any Fundition Associates lead to an automatic ban from using the Fundition platform.
Founders should not be seeking Fundition voting support as the primary or only source of funding for their project.
Fundition only has limited funding resources so cannot support every single suitable project, so counting only on Fundition support is not acceptable.
The Founder Rights
As a Founder you will benefit from different support of Fundition and some rights.
A Founder can ask for advice and help in improving their project proposals from the Founder Support Team. There is no charge or commission for this service.
However that does not mean that the project will get automatic support from Fundition. This assistance is solely to make the project better and to attract Backers and Supporters.
Even when a project meets all the criteria of the Fundition Fund Program it is possible that it will not get Fundition support, still it doesn’t mean that the project can’t get support, the founder has the duty to keep on promoting the project.
Fundition strongly advises Founders to do all they can to promote their project proposals on Fundition to gain backing from the wider community.
Fundition will look more favorably on those projects where the Founder is making good efforts to promote their project more widely.
NB: This fund program is subject to changes and can be revised over the time.