Root Project: “Crowdfunding platform for the people by the people”
About Project
Root Project is innovative crowdfunding platform for community based projects. It is one of a kind project which will align interest of investor and those stuck in extreme poverty. Project is also regulation friendly which is nonprofit, non-equity crowd funding platform and not selling any product/company equity rights.
How it works?
Step 1:- Single Woman wants to raise fund for her child’s heart surgery
Step 2:- She downloads the Root project application and create the project
Step 3:- User (she) then makes initial donation and start crowdfunding campaign
Step 4:- Donations are made by people and minimum threshold is reached or funds are returned
Step 5:- Project is reviewed by team considering legal implication
Step 6:- Root Project assigns a project foreman and provides resources to complete the project
Step 7:- Project get completed and before after images and other information is uploaded on application along with formal sign off with initiator
Step 8:- Payment is disbursed to the worker within an hour of sing off
What is there for different stakeholders?
“The more money investors make, the more people get pulled out of poverty and the more the non-profit grows. The more the non-profit grows, the more the currency appreciates”
Investors of Roots:
• Whenever the crowd funding project is funded, 10% tokens goes to direct purchase from the open market
• Some part of labor fees goes in the medium term pension fund and locked in forms of Roots
• Extra fees from large project goes toward buying tokens and burning
All of above parameters will reduce the supply from the market and drive the prize of Roots token hence creating wealth for Investors
Labors working in projects
• Candidates for project work will be from underprivileged population who will be provided wages to complete the project
• Some part of their wages will be diverted to “Pension fund” for medium term in terms of Roots token and will be released to worker meeting the certain requirement. This will encourage saving
• Goods and services will be offered: T shirts, winter clothes etc
Donors of the Project
• Donors of the token get tax deduction for donation
• Small step to change the life of underprivileged
Token Issuance
Total Token Created: - 10 Billion (No more tokens will be ever created after)
Token Type: - ERC20
Root Token Price: - 1 Root = 0.001 ETH 
Pre ICO: - Start on 10th July 16, 2017
Hard cap of $300,000 USD
50% Bonus
Early Backer Bonus: - 10% Bonus for first five days
Post ICO Supply schedule
40% of ROOTS will in total be released, beginning six quarters after the completion of the ICO, at a rate of 3.33% per quarter
Use of Funds
Pre-ICO funds will be used to enlarge the development team, form charters in Switzerland and the United States, finalize choices for pilot cities, begin crowdfunding outreach to appropriate networks of large donors and create promotional material for the ICO itself.
Time Line
More Information at https://www.rootproject.co/
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