We’re excited to announce Fabric: the easiest way to crowdfund onchain https://withfabric.xyz
Because capital is upstream of almost every community. Yet there is no way to simply pool funds onchain in order to achieve shared goals. Existing tools prescribe some version of a token-treasury-proposal-voting governance system. Fabric offers an alternative:
The Fabric crowdfinancing protocol: a non-upgradeable smart contract that can be permissionlessly deployed to pool capital and verifiably share upside.
The Fabric client: a user-friendly desktop and mobile web app that makes it easy to interact with the protocol.
Here’s how they work together:
A creator deploys a crowdfinancing contract onchain, with a specified funding goal and recipient.
Contributors deposit funds into the contract, and can mint unique proof-of-contribution NFTs.
If the funding goal is met, then the recipient can withdraw the pooled funds, else contributors can withdraw their deposits.
Yield generated from deployed capital can be deposited back into the contract by the recipient.
Contributors can then withdraw this yield, in proportion to their initial contribution.
Crowdfinancing is a new crypto-economic primitive that lives at the intersection of a crowdfunding project, escrow account, and cap table. It materially reduces the administrative burden of collective fundraising, and in doing so, makes access to capital and financial upside more widely accessible.
We built Fabric to help values-aligned communities pool capital and achieve shared goals. We’re excited to see what you create, together.
To learn more about what we’re building, follow us on Twitter and Farcaster, join our Telegram, and subscribe on Paragraph.