SeedOn leverages blockchain in its Smart Contract Escrow Model to divide crowdfunding into multiple stages, minimizing fraud-induced loss of investors
Iasi, Romania, January 2022 – SeedOn, a blockchain-based crowdfunding platform, facilitates project funding through its Smart Contract Escrow Model, where funds are put in a joint escrow account, only being released in stages once the requirements are completed by the project. Entrepreneurs can access their funds according to the stage the project is currently in, circumventing loss induced by fraudulent crowdfunding efforts.
Vulnerable to scams and regulatory breaches, the crowdfunding process can lack post-raise communication and minimal realistic targets, all of which intercept transactions before completion. Many crowdfunding platforms aim to combat these fragilities and foster trust but fail to ensure total security, subjecting investors to significant loss if they are breached in the wake of fund transfers.
SeedOn’s Smart Contract Escrow Model’s blockchain solution runs on the Binance Smart Chain (BSC), which provides transparency as stakeholders can follow the fund’s movements throughout the deal. SeedOn meticulously screens projects and their founders before approving their listing on the platform to sift out fraudulent parties.
To participate in a SeedOn crowdfunding campaign, investors simply purchase SEON, SeedOn’s native token, on public exchanges to then deposit into the platform’s wallet. Users can also pay with fiat money either directly on SeedOn, which is then converted to SEON on the platform’s backend, to increase the balance of SEON in the investor’s wallet, or pay straight in the crowdfunding campaign investment section, offering a viable option to non-crypto holders. SeedOn offered two pre-sales, one private and one public, during SEON’s ICO in December of 2021, collectively raising $1.4 million and selling out the second presale in under five hours.
“At SeedOn, we strive to encourage the future generation of crowdfunding,” says Constantin-Claudiu Minea, Co-founder and CEO of SeedOn. “There are enough challenges for startup developers; funding should pave the way for project growth, not prevent innovative ideas from evolving into fruition. We are thrilled to bring ease to this process by reducing scams and in turn, reintroducing trust into crowdfunding.”
Headquartered in Iasi, Romania, SeedOn is developing the blockchain-based solution that will revolutionize the crowdfunding process to ensure transparent transactions. Utilizing the native SEON token, users can invest in projects on the platform, with funds being held in escrow and released periodically for additional investor security. Projects and founders will go through an intensive validation process before being granted access to the platform. The Smart Contract Escrow Model guarantees safe transfer of funds, expanding the future of crowdfunding for project developers and investors alike. For more information, please visit: https://seedon.io/