At Pledgecamp, we are aiming to shake crowdfunding to its very core. We want to bring in positive disruption to the system by incorporating blockchain technology for security and accountability. Two of the most critical components of our ecosystem are the Creators and the Moderators. In this article, let’s look at the advantages of being an early Creator/Moderator in Pledgecamp.
Being an early Creator
Creators are entrepreneurs who seek funding for their projects. They are a critical cog of our system, for obvious reasons. To attract creators to our ecosystem in the early phase, we have built an “Initial Creator Fund.”
5% of the initial token allocation - or 50 billion PLG tokens - will fund this initial creator fund. This initial fund will take two forms.
#1 Running a successful campaign
Any creator who runs a successful Pledgecamp campaign will earn the following bonus:
C = PB * 0.2
- C = Creator’s Compensation.
- P = Median pledge amount in PLG.
- B = The number of individual backers.
Overall, this formula amounts to an approximate 20% bonus added to the pledge of each backer. However, this extra bonus needs to be spent on services like the Market Network. This ensures that the bonus is being used directly on their projects. Not only is this beneficial to the creator, but this is excellent news for backers as well. Since this bonus is being siphoned directly into the projects, there will be a higher chance of them being seen to completion. This will encourage them to donate more pledges to the campaigns.
NOTE: Any campaign suspended by Moderators is not eligible for this bonus.
#2 Incentivizing companies
Portfolio companies of eligible startup incubators and accelerators will be awarded up to 5,000,000 PLG per company that lists on Pledgecamp. It is hoped that this will encourage these companies to run their projects on Pledgecamp’s platform.
NOTE: If the Initial Creator Fund is not depleted after 36 months, the remainder will be allocated to the Platform Fund.
Being an Early Moderator
Our users can stake their PLG tokens in exchange for Camp Share (CS) tokens and becomes “Moderators” within the ecosystem. Camp Share is a non-exchange token that allows users to achieve Moderator status and earn compensation from the listing fees collected by the platform.
The following are the duties and incentives of Moderators:
- Maintain the overall health and well-being of the Pledgecamp ecosystem by removing behavior violations.
- Behavior violations include and are not limited to listing scam projects, exhibiting abusive behavior, and engaging in illegal activity.
- Moderators are economically incentivized to do a good job since their reward is tied directly to their performance and health of the platform.
- As a reward, the total campaign listing fees generated within the system is shared among the Moderators.
We are well aware that in our nascent stage, the number of campaigns listed will be less. This is why 50 billion PLG ( 5% of the initial token allocation) has been kept aside to reward the Moderators in the early days. This Initial Moderator Bonus will supplement their regular compensation until the fund gets permanently depleted in 36 months.
So, there you have it. Being an early Creator and Moderator on Pledgecamp will give you plenty of advantages. As an early Creator, you will be receiving a special bonus for running a successful crowdfunding project. Plus, if you are a legit startup incubator/accelerator, you will be awarded up to 5,000,000 PLG per company that lists on Pledgecamp. On the other hand, if you are an early Moderator, then you’ll be receiving a bonus along with the usual reward.