Venture Crowdfunding

Decentralized venture crowdfunding (dVC) is a retail-based financing round at the pre-public stages. An embedded DocuSign signature will be utilized to sign automatically-generated SAFTs before the purchase, and the derivate tokens representing the purchase on-chain will be issued, which are publicly swappable at TGE. First, investors need to sign an off-chain SAFT. After the successful completion of the off-chain signature, our program flow will automatically send an on-chain message signing request to move the off-chain signature to the on-chain. The signed SAFT will be hosted in encrypted IPFS or similar databases, only visible to signer parties. As a web interface between capital utilizers and providers, OpenPad will be storing the SAFTs in the cloud or local databases as well. The on-chain message will be proof that both ends successfully signed and closed the deal. After the confirmation of the on-chain TX, soul bond (non-transferable) tokens will be printed to represent a purchase amount in ERC20 format. At the TGE event, whoever owns the derivate tokens can claim/receive the purchased tokens. Initially, we’ll restrict the derivate tokens to be fully non-transferable. However, as those tokens are ERC20, they can be privately tradable in the OTC marketplace if the non-transferability is eliminated. This liquidation process is currently under discussion. Note that there are several ways to create a better market for pre-public tokens, such as NFT wrapping, purpose-built AMM liquidity, and OTC market, those options are currently under work. To access dVC, users need to stake in the staking vault that has a 2% deposit and 2% withdrawal fee with 0% management fees.