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Crowd Funding

Overview

This example models the concept of crowd funding campaign where backers contribute money to a project, but the collected funds can only be released if they exceed a predefined threshold. If the threshold is not reached the funds can be reclaimed. A suggested extension to this model is to introduce a time threshold, which controls when claims or reclaims can happen.

Workflow

  1. The originator creates a Project contract defining the required threshold to reach.
  2. The originator invites backers via invite/accept, collecting signatures from each on the Project contract.
  3. Backers can then Pledge Ious to the project, which get locked up in the process. Pledges can only be done before the project's deadline.
  4. Once the deadline has passed and if the raised amount exceeds the threshold of the Project the originator can Claim the raised funds, which subsequently get transferred to him using the collected authorization on the Project contract.
  5. If the raised funds are below the threshold the backers can trigger a Reclaim for the Ious to be returned.

Building

To compile the project:

daml build

Testing

To test all scripts:

daml test --color

Running

To load the project into the sandbox and start navigator:

daml start