Aidbit Documentation & Guides
Different actors are involved in the charity/fundraising model. The user roles are beingbroken down into three main categories and explained below:
1.User_Donor – Capital providers.They are essential to the success of a charity/crowdfunding campaign. Donors can store crypto in their Aidwallets and use it to crowdfund, do charity or transfer peer to peer.
o Seek Rewards – Capital raises are often seeking rewards on fundraisingplatforms. In some cases, it is direct rewards, in form of financial rewards,coupons, tax benefits, or any other way. On the Aidbit platform, Donors would be directly rewarded with Aidbit tokens for participating in raising funds for a cause.
o Help and Support Causes
o Engage and contribute to a community or a project.
o Reputation – Another motivation for many participants of online andcrowdsourcing communities is the reputation benefits and recognition, that can be derived from active participation in the community. The platform will make sure to keep a count of the contributions made by a user profile that is acting as a Donor.
They are the main concerned with raising funds and capital either for charitable purposes, one’s wellbeing, or any type of crowdfunding scenario.
o Raise Funds – Main motivation is to raise funds.
Aidbit platform provides an infrastructure to store funds from different small payment channels and keepit for the fundraiser so they don’t have to develop a separate system for it.
o Establish relationships and form Connections – In addition to raising funds, the fundraisers are indirectly establishing connections with the donor, which could be helpful in the long term.
o Bring new issues, topics, project ideas to the ecosystem to be introduced to the crypto world.
o Receive Validation and Approval – Successful experiences and receiving public recognition of their success increase a person’s confidence in his/herself and the project.
o Expands awareness of work through social media – Findings suggest that creators were motivated to participate in crowdfunding because it extends their awareness through social media.
o Must have a certain number of Aidbit Tokens in the wallet to take up Arbitration duties and checkups.
o Every post on the platform has to be approved and checked by 100 randomly chosen arbitrators.
o During the inspection duties, that an arbitrator takes up, he needs to flag the content in a post as Safe or unsafe. When the 100 checks are completed by the arbitrators and the Ratio for any winning side is decided as 60% votes to 40% votes at the minimum.
o Arbitrator is paid a part of transaction fees when the fundraiser withdraws funds from their wallets.