Openfund is a web3-native fundraising platform that allows you to start, fund, and trade the Next Big Thing.

Imagine Kickstarter meets Coinbase.

# What is Openfund?

Openfund is the first platform that makes raising funding for a project as easy as setting up a social media account, and that makes contributing to a project as easy as sending an email.

Openfund also pioneers fully on-chain social features that can not only increase the role of trust and reputation in the contribution process, but also allow your fundraising to go viral in ways that haven't been possible in the past.

The amazing thing about Openfund is that it was launched as a project on the Openfund platform itself! This made it capable of raising over $1 million from a large community of over a thousand supporters rather than from venture capitalists.

# Team

The creator of Openfund is [Nader Al-Naji](https://diamondapp.com/u/nader?feedTab=Hot&tab=posts), head of the [DeSo Foundation](https://deso.org). Across DeSo and Basis, Nader's last project, he has raised hundreds of millions of dollars from thousands of contributors, including Sequoia, Social Capital, and Andreessen Horowitz, and he has built a strong track record as an entrepreneur.

With Openfund, Nader and the DeSo Foundation team saw an opportunity to package all of the knowledge they've built up from raising hundreds of millions for past projects into a product that anyone in the world can use to make their next bold and brilliant idea a reality.

# The Openfund Business Model

## Yield

Openfund as a platform can currently generate fees from two places that can then be paid out to holders of $openfund coins as yield:
* **Fees on its on-chain non-custodial order-book exchange.** Fees are currently zero.
* **Fees when a project closes a round**. Currently, Openfund collects 1% of all eligible fundraises when the round closes.

Many other value-add sources of revenue can be added later on, such as charging for featured projects, charging for premium features, and much more.

Once fees accumulate, they will be distributed to holders of $openfund coins at regular intervals pro rata (i.e. in proportion to one's percentage ownership).