Wednesday, June 19, 2024

With Juicebox, is decentralised crowdfunding for DAOs finally arrived?

Kickstarter and GoFundMe crowdfunding platforms are known to be two controversial platforms. Both the platforms always end up stuck between distinctive sides of their users, political divide and governments also, every time a controversial issue reaches their sites.

Just like social media websites, they too can lean on their Terms of Services to nullify their service, if there is any kind of activity that might cause any risk to them. Even if there is fundraising going on they will stop the service in the middle.

It is no surprise to anyone that crowdfunding has somewhat become the brand new model disrupted by blockchain. Juicebox, like Kickstarter and GoFundMe, is a crowdfunding platform. On the Juicebox platform, the rules for refunds, disbursement, and donation are codified on-chain. The question is, what is decentralized for crowdfunding? And why is even Juicebox trending amid DAO projects?

In July last year, Juicebox was launched as a strategic treasury management code for Ethereum-based projects. Contrasting to the GoFundMe and Kickstarter, the classification of the funds received is governed by the code-based rules. Rather than under the surveillance of the platform staff.

This is the first Web3 project that was built by jango.eth (@me_jango). Earlier they met with the team members of Juicebox on Discord. However, the auditing and funding of Juicebox are yet to be done by any VC.

Apart from changing the traditional crowdfunding platform model, Juicebox now aspires to reduce the complexity in the process of issuing tokens and building treasury for the community in a decentralized project. Which is a complicated process at the moment. To put it in simple words, this whole process will make DAO start easy.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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