RootProject provides a worker platform for the unfortunate living in poverty and a crowdfunding platform for the fortunate. A reward program for the worker platform is proposed as well in which they can stake tokens themselves. The platforms rely on purchasing tokens on the open market and operate in the charity/non-profit sector. The crowdfunding platform employs the worker platform, funded projects improve the local community and contributors enjoy tax deduction. Thanks to this project, it is possible to create a new project for the community without knowing any information about crypto.
The new crowdfunding model creates supply and demand for community projects. Donations are tax deducted. It gives them the opportunity to produce important projects that will earn reputation. Some of the income of some projects goes to token purchases, which increases the demand for money. The rest go to the finances to complete the project, to the price of an amir, and to those who are stuck in poverty. The currency system is designed to provide fast and long term growth in money demand. Hourly rates in US dollars are additionally deposited as a medium term pension fund-like asset in the cryptorian value of their daily earnings.
Simply, Root Project
The new crowdfunding model creates supply and demand for community projects. The project proponent does not need to complete the project or know anything about cryptocurrencies. Donors get tax deductions. Socially visible projects improve reputation.
Some of the results of the crowdfunded project go to the purchase of tokens, prompting currency demand. The rest goes to the material, one supervisor’s wage, and wages for those trapped in poverty to complete this project. Currency currency is difficult to close, so each project reduces the supply of liquid tokens.
In addition to the hourly wage, paid in USD, the cost of cryptococcal half of the day’s income is saved to the medium-term pension fund entity — subsequently reducing the supply of a liquid token and aligning the interests of the most vulnerable investors and communities.
HOW ROOT WORKS
The worker platform has a smart contract based reward system to battle poverty. The paper proposes a pension-fund like program. This proposal is based on the belief personal progress validators (p.p.v.) which have to be met (so the contract releases ROOTS tokens) is an effective way to encourage long-term constructive behaviour. This implies the worker platform is useful for social workers and other institutions dealing with people in poverty. Examples of possible p.p.v.’s could be:
attend X substance abuse seminars
work for 10 hours weekly for 4 weeks
The current proposal is a reward program that stakes a 50% bonus of the wage earned by a worker. This bonus is in ROOTS token, locked in a personal smart contract that’s bound to this p.p.v. milestone system. These tokens are purchased on the open market and are part of a project’s budget.
initiating local non-profit crowdfunding projects
The crowdfunding platform is to starting public crowdfunding projects with non-profit status. This enables a high portion of the contributions to be tax deductable. RootProject will do the implementation of every project so the project will fall under RootProject’s tax status. Projects still need to adhere to strict guidelines for donations to be tax deductable. It is not expected for project initiators to do the work themselves or to hire workers. This concept is what RootProject calls the laborless crowdfunding model.It rewards the most succesfull project initiators with tokens and 3–5% of the total distribution is reserved for it. Their success is measured in terms like the percentage of projects that were non-profit and reached their funding treshold.
RootProject will be the governing body over these platforms, connecting the workers to the crowdfunding project and managing other aspects of each project. They come in the picture once a crowdfunding project reaches its minimum treshold of contributions to review the project. This means taking care of things such as budget allocation, legal compliance and quality assurance. At this stage 10% crowdfunding fee is taken from the project’s budget. This fee is used to purchase ROOTS on the open market. The contributions are made in regular currency and contributers might not even be aware cryptocurrency is involved. This concept is what RootProject calls currency-as-a-fee.
Reward program for the workers platform
The proposed medium-term ‘pension-fund’ and the worker platform can be used as a tool for social workers and alike to set up rewarding milestones (p.p.v.) that pull their clients out of poverty and puts them in a Lamborghini purchased with their own ROOTS token work with them and the RootProject towards a constructive future.
Pre-ICO Date: 10 July 09:00 EST — July 17 — $ 300,000 hard cap, 50% premium.
ICO Date: 7 August — 7 September
ICO price : 1ROOTS = 0.0001 ETH
Pre-ICO price: 1 ROOTS = 0.00006 (6) ETH
Below are the links to Root project
Website : http://rootproject.co
Whitepaper : http://tinyurl.com/RootProjectWhitePaper
One-Pager : http://tinyurl.com/RootProjectOnePager
Bounty thread : Thread
Twitter : https://twitter.com/rootprojectco
Facebook : https://www.facebook.com/rootprojectco/
Reddit : https://reddit.com/r/rootproject
My bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1048662
My Youtube channel: https://www.youtube.com/channel/UCoKb8l6T6TN3dk9_9CvTnvw