:: [unSYSTEM] bitsquare.io funding mod…
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Skribent: Manfred Karrer
Dato:  
Til: unsystem
Emne: [unSYSTEM] bitsquare.io funding model
hi guys,

I wanted to ask for feedback/discussion about the funding model we are considering for bitsquare.io (P2P Fiat-BTC exchange):

Overview of the model:
- We ask the community for BTC donations for supporting the development of the P2P exchange.
- The funds go to an non-profit organisation which manages the project development.
- The NPO has a democratic, transparent and open structure; new devs are welcome.
- The NPO uses the funds for paying the developers/contributors.
- There is a continuous deployment process so the sponsors can see the progress
- There are several rounds for each reached milestone (e.g. every 1-2 month) where only the needed amount for that period will be collected. When reached the target the round will be closed
- When the software is published the sponsors will receive the trading and registration fees. - The algorithm for the selection will privilege early sponsors. If the project will be successful the sponsors might get more money from the fees then they have donated initially.
- It is important that it is communicated as donation model not as investment! We cannot guarantee that the intended model will be implemented like planned (legal, technical, conceptual issues might cause a change). Also to promote it as investment would cause legal issues (would be considered as shares of a public company)


The concept is described here in more details:
https://docs.google.com/document/d/1MysGJcPydv3EabshTFiFTtwQC86_4-HG7dSPp0_YhHc/

br,
Manfred


Resources:
Webpage: http://bitsquare.io
Github: https://github.com/bitsquare/bitsquare
Whitepaper: https://docs.google.com/document/d/1d3EiWZdaM89-P6MVhS53unXv2-pDpSFsN3W4kCGXKgY
Overview: http://bitsquare.io/images/overview.png
Video of the proof of concept prototype: https://www.youtube.com/watch?v=ByfnzJzi0bo

Payment protocol: http://bitsquare.io/images/paymentProtocol.png
Risk analysis: https://docs.google.com/document/d/1EFLINUOmtY1Lu2VE9GZLHKEcqLvnnPfzlu0AMyGwDN8/
Arbitrator system: https://docs.google.com/document/d/1EFLINUOmtY1Lu2VE9GZLHKEcqLvnnPfzlu0AMyGwDN8/
Funding model: https://docs.google.com/document/d/1MysGJcPydv3EabshTFiFTtwQC86_4-HG7dSPp0_YhHc

Old bitcointalk thread (BANKRUN!): https://bitcointalk.org/index.php?topic=462236