FundRequest introduces an easy and secure way to reward bugfixes and feature builds on any project.
Like https://opensource.org/ for devs.
Open source contributions increase - According to the 2016 Future of Open Source Survey 65% of respondents contribute to open source projects, which is a 50% increase compared to the 2010 survey.
User statistics of open source platforms show a similar trend. GitHub, one of the largest platforms for developing and maintaining open source projects, welcomed 6.7 million new developers from all around the world in the past year alone.
Other than building a resume and contributing to important projects, there is currently no incentive for developers to work on open-source projects. That will change with FundRequest, a new platform that allows organizations to reward open-source contributors by sharing cryptocurrency as an extra incentive.
In a stylized transaction flow, the requesting organization (funder) allocates funds to an open source issue. These funds are stored in a smart contract, which acts as an escrow to incentivize parties to act in good faith. The smart contract will eventually distribute the funds after a set of predetermined conditions is met. Once the open source issue is funded, the developer (solver) can select it. Since he also needs to have skin in the game to avoid malicious behaviour, he is required to stake funds proportionally to the value of the funded issue. The developer then solves the issue and claims the reward.
The smart contract settles the transaction.More than a monetization platform, FundRequest is a system for custom support that will boost the Open Source community as a whole – from developer to end user.
Problem With Open Source Projects
Many fail as devs don’t have time
No incentives
Lack of community/other dev interest
Gig economy is growing rapidly. Over 160m active in North America/Europe. Fund request = gig economy for software
Why Use Blockchain To Develop this:
Security of Smart Contracts
Token Incentives
Fund Request won’t charge % for posting job (unlike other platforms) Reduce friction
Transparency cost
3rd party integrations for other platforms. Develop their own API? Perhaps, Trello?
Skill Token - like XP points for specific skills. Not tradable/locked
What I Like It
3rd party integration could be absolutely massive
Helps the entire blockchain movement
Idea of Skill Tokens
Solver must stake tokens to START the task
Love the idea of gamification.
Will allow funding in any ERC20 and Fiat (NICE!)
Network Effect - more fixes = more developers feedback loop
Funding 60% to development = love it
Strong Github
Issue With the Project
Cooldown period between asset transfer
Can stake any ERC20 token ? How mechanisms of that work
Dispute function not explained in enough detail. Sounds like they haven’t figured that part out yet
More info on API component
Other News
Integrated with Civic - https://blog.fundrequest.io/decentralized-authentication-with-civic-lessons-learned-fe1349dd0a66
Integrated with Azraël, a blockchain event listener
Main net launch = February
Chrome Plugin coming
Request Network Partnership - https://blog.fundrequest.io/request-network-fundrequest-39ccb610911f
Open and Honest - https://blog.fundrequest.io/what-you-need-to-know-about-fundrequest-before-joining-the-public-seed-2792ee7026c0
Token Economics
Less than 200m
2 Year Lockup
15m Cap
Tokens received immediately after sale
Q2 2018
