Funding Round
Last updated
Last updated
A funding round is a period of time, typically lasting about a month, during which the contributions received by a project from the community is used to calculate a match amount, that is given to the projects from a sponsor funded pool of funds.
The funding round is based on the principles of Quadratic Funding, which ensures democratic distribution of funds to projects, based on what the community wants. More on this could be found in the Introduction part of this documentation.
A project that is listed on Kickflow can enter an ongoing funding round directly from the profile dashboard. There is a fixed period of time in which projects must enter the round. The period's start and end times are well announced on our social channels and Discord server.
When the period to enter the funding round is on and you have not yet entered the round, the Enter Round button shows up along your project card on the profile dashboard.
Once you click the button, you will be asked to confirm a transaction in your wallet and submit a returnable security fee (in tez) to enter the round. The security fee is a spam protection mechanism, and it can be redeemed back once the round is over.
In the event that a project is disqualified from a round due to malicious activities, the security fee is seized and is sent over to a DAO controlled community fund.
Once a funding round is over and the DAO has set the matches, you would be eligible to withdraw a match from the sponsor funded pool based on the contributions you received during the round.
The Withdraw Match button would appear on your profile dashboard, against your project, once the DAO has set the matches for each project. You can then click the button and withdraw your match after confirming the transaction.
The Withdraw Match button will appear even if you have received a zero match in the round. However, if you attempt to withdraw the match, your transaction would fail. Do check the failure warning in your wallet before confirming the transaction.
Once a funding round is over, you could also withdraw your security deposit. The Withdraw Deposit button (shown above) would appear on your project card. Once you click and confirm the transaction, the locked tez would be credited to your address.
Any activity happening off the platform directly on the smart contract during the funding round would be flagged and strongly monitored. If found suspicious, the entry would be put up for disqualification in the DAO.
