Project creators can now use rich text formatting in their project descriptions. This means that you can add style and organize your description using basic formatting like bold and italics, headings, links, adding images, and more.
You can learn more about these updates in this article, or this walkthrough by Brileigh on JBDAO YouTube:
So, first things first, make sure your wallet is connected and head over to the project that you control on juicebox.money. We’re gonna use The Juicecast on Goerli as an example. From here we’re gonna click on Manage project in the top right.
Next, we’ll go to Basic Details under General. Here you’ll see two new fields under your project name. You can add a tagline, where you can add a brief one-sentence summary of your project. And below that, we have the project description where we can add a more detailed summary of what this project is about, why you should contribute, and add some links and images for context.
You can start from scratch in the editor or copy and paste some text you already have. Start with an introduction either about who you are or what the project is about. This where you can tell your story to connect with your audience. Here are some tips to consider:
Use headings like H1 or H2 to help organize the structure of your summary. This is especially helpful for long project descriptions so that potential backers can easily skim through your text to find what they want to know about you and your project.
When referencing subjects in your summary, it’s a good idea to hyperlink text so that people can know more about something if they’re interested. This is also a great way to build trust if you want people to know more than what your wallet says about you or the project.
Adding visuals to your project description is really important because it helps break up text, especially if you have a long description. To add the image, click on the image icon and upload the photo. Examples of images you could include are:
Photographs (if you have hosted IRL events or have a product you want to showcase)
Infographics (to explain complex aspects of your project)
Brand materials (logos, typefaces, anything you want to show off that you think will resonate with people)
Examples of different images you can add to your project
Once you’ve explained what your project is about and how it works, consider adding reasons why people should contribute to your project. Whether you’re on Juicebox or another platform, it’s important to think about why someone would want to contribute to your project, what they might receive in return. You can add more images if this helps contextualize what you’re seeking funds for and why.
Step 6: How can people find you and get involved?
Good contact information helps build trust and makes you more accessible. Adding links for contract information or how to get involved in a Discord is great way to make your project more inviting to potential supporters. You want to make it easy for people to find you if they want to.
Once you’re finished editing your project description, scroll down to the bottom and click Save Project Details. This will prompt a transaction that you’ll need to confirm in your wallet. This could take a minute to save and update on juicebox.money. Once it’s done, you can click on the X in the top right and it will bring you back to your project page. Simply refresh your project page, click on the About tab and you’ll see you’re new fully stylized project description! And that’s it!
If you have any questions or need help along the way, jump into the Support channel in Juicebox Discord If you want some one-on-one help setting up your project, reach out at juicebox.money/contact. And if you want to stay on top of the latest news, features, and trending projects in the Juicebox ecosystem, make sure to subscribe to our weekly newsletter Juice News.
Open source software plays a crucial part in the digital economy, in the same way that highways and communication systems play a role in our cities. With the emergence of blockchain, developers can now turn to funding their software onchain, as it allows builders to raise funds permissionlessly, transparently and make use of tokens. In this article we’re going to focus on how you can use Juicebox to fund your open-source software project.
You can follow along in this article, or a video by Matthew on the JBDAO YouTube:
Juicebox is an open-source protocol that is permissionless, community-owned, and built on the Ethereum blockchain. Juicebox is built by hackers, for hackers, making it a great launchpad for developers to take their projects to the next level. Let’s dive into some examples of projects using Juicebox to fund open-source software.
Planet is an open-source tool built by Xin, aka Livid, who previously built V2EX.com which is a popular community for developers in China. Planet lets you build decentralized websites using IPFS and ENS, so instead of hosting your website on a centralized server, Planet uses IPFS for peer-to-peer content distribution and lets you use an ENS address that you own or control as the URL. Planet has raised nearly 7 ETH on Juicebox, worth over 12.5 thousand dollars at the time of recording.
Etherfunk is a tool that lets you interact with any contract on the Ethereum blockchain. Simply enter a contract address and Etherfunk makes it easy to interact with its read and write functions. You can also generate links with pre-filled values to easily share contract interactions in a predefined way.
View on the same contract on Etherscan (left) and Etherfunk (right)
Etherfunk was developed by Aeolian, one of the frontend devs at PeelDAO who manages the juicebox.money frontend. In order to make Etherfunk sustainable, he launched a project on Juicebox, stated upfront how much it costs each month to keep running, and managed to secure funding for an entire year in less than a month.
So, how does Juicebox work for open-source software?
Launching a project on Juicebox lets you build a treasury out in the open, raise funds from your community or via grants, and issue ERC20 tokens or NFTs as benefits to supporters.
In addition to introducing your project and the story behind what you’re building, consider stating your fundraising goal and costs upfront in your project description. You can also use Juicebox’s onchain rules to set limits for how much can be withdrawn from the project so that supporters feel safer knowing that you can’t rug and take all the ETH.
First, you decide on Cycles—which can be 3 days, 2 weeks, a month, anything you like—and all of your project settings will be locked for that period of time. You can always change your project settings, but these changes will only take effect in the next upcoming Cycle and supporters will be able to see this upcoming change on your project’s activity feed.
Second, you can set-up Payouts which set onchain rules for where funds will go and how much can be withdrawn.
For example, let’s say your goal is to raise $1000 per month to maintain your project. You could set-up a Limited Payout of $1000 to your personal address and anything raised above that limit will roll into the next Cycle. Supporters can rest easy knowing that you can’t suddenly take all of the money from the project and disappear.
In addition to Cycles and Payouts, Juicebox also offers advanced tokenomics features that allow you to issue tokens and NFTs, offer refunds, and more.
When supporters pay your project, they receive tokens. Depending on whether you deploy an ERC-20 token or not, these will either be in their wallet or internally accounted for by the Juicebox contracts which is the default to save on gas fees.
ERC-20 tokens are often used for governance. This could be something simple like letting token holders vote on upcoming features, or maybe you want your project to be community-owned and governed as a DAO with token holders voting on how to use treasury funds.
Project tokens can also be used to offer refunds. For example, let’s say you raised 2 ETH to start developing a new idea but for some unforeseen reason you can no longer commit to the project. You can Edit your upcoming Cycle to set Payouts to None, and this will let token holders redeem their tokens for the ETH that they contributed.
Artwork by [Sage Kellyn](https://twitter.com/SageKellyn)
In addition to ERC-20 tokens, you can also issue NFTs for payments made to your project with different tiers so that contributors can support you at different price points. For example, you could offer a $5 “buy me a coffee” tier with cute artwork or your project’s logo, as well as higher priced tiers that unlock premium features or access to a token-gated Discord server. NFT rewards can be anything from cool artwork as a “thank you” to membership or other perks: it’s up to you.
Launching your open-source software project on Juicebox lets you raise funds permissionlessly from around the world and build a community around what you’re building. And even if your product isn’t related to crypto, you can always start a Juicebox project alongside another platform like Buy Me A Coffee and help spread the word to members of the Ethereum community.
Project Pages on juicebox.money now have a dedicated Updates tab to keep your community informed on the latest news. This can be used for announcements, new milestones, events, partnerships, or any new developments that relate to your project.
You can learn more about these updates in this article, or this walkthrough by Brileigh on JBDAO YouTube:
For this example, we’ll be using The Juicecast project on Goerli. If you aren’t already familiar, The Juicecast is a series of conversations with builders and creators in the Juicebox ecosystem and beyond. In this example, We’ll post an update informing the community about our new NFT collection that lets supporters sponsor an episode.
Step 1: Connect Wallet & click on the new Updates Tab
The first thing we’ll do is connect our wallet. On your project page, you’ll notice a new tab that says Updates.
In this section you’ll see a button that says Add project update, click it and it will prompt a signature request. This is so that the update can be verified by your wallet. No charges or gas fees will be made against your wallet.
tip
You can’t edit an update once it has been posted but you can delete it and post a new one if you make a mistake.
In the pop-up window you can add a title and message for your update. Make sure that your message provides enough context and clearly conveys what you want to communicate to your community. You also have the option to add an image that’s relevant to your update. Keep in mind that this will be cropped to a horizontal rectangle ratio of 288px x 566px.
When you’re done, click Add update to post your update.
And that’s it, all done! The page should refresh automatically or you can refresh it yourself, and you’ll notice a number next to the Updates tab that keeps track of how many updates have been posted. The update will also include the date it was posted as well as the wallet that signed the message.
Keeping your community in the loop is one of the best ways to ensure your projects' success. The more your community hears from you about what you’re working on, the stronger the trust will build and increase the likeliness of getting more funding from both new and old supporters.
Here are a couple tips for posting updates for your project:
Don't make vague statements that could mislead your community. Posting updates is all about building trust with your supporters: don’t overpromise and make sure that your message is crystal clear.
The more active your project, the better. Being consistent means finding a balance so that your community isn’t spammed with updates or on the other hand left wondering if the project is still active months later.
Keep your eyes peel-ed for more features like markdown formatting and images in project descriptions as well as the ability to subscribe to project updates via email.
Project pages on Juicebox have been revamped including a new layout, new checkout experience, and bookmark feature. These updates were made possible thanks to PeelDAO, the front-end team managing juicebox.money, user interviews, and feedback from JuiceboxDAO. You can follow along in this article, or this walkthrough video by Brileigh on the JBDAO YouTube:
For this example, we’re going to look at WAGMI Studios: the creative studio behind all of the juicy art on juicebox.money.
We’ve simplified the layout and added a new section with key project stats that give you a sense of a project’s activity. You can see how many payments have been made, total volume in ETH, and a trending percentage for the last 30 days.
We’ve added tabs to help navigate different aspects of a Juicebox project like Activity, About, NFTs, Cycles & Payouts, and Tokens. You can also click on the Cycle block to get to the Cycles tab, or click on NFTs to get to the NFTs tab.
One of the biggest changes that you’ll notice is the new cart experience when paying a project: you can add things to your cart and review a summary before submitting your transaction. As you add or remove NFTs, the summary will keep track of what is in your cart. If you click anywhere on the summary bar you can get a more detailed view with both the NFTs added to your cart and the project tokens you’ll receive.
You can also pay a project without choosing any NFTs using the pay bar at the top. For example, if you pay 1 ETH to Wagmi Studios and click on Summary at the bottom of the page, you’ll get a message saying “You are eligible for 3 rewards,” which are the NFTs. You can click “add rewards” to include them, or if you change your mind, simply click on the trash icon to remove them. This gives you the option to opt-in or opt-out of receiving NFTs when contributing to a project.
You’ll also notice a new block in the top-right with a live countdown of the project’s current Cycle. Click and it’ll bring you to the Cycles & Payouts tab where you can see current, upcoming, and past Cycles as well as any Payouts that have been configured.
If you’re browsing a project and want to come back to it later, you can bookmark it to save it to your Saved Projects in My Account. To do this you’ll need to have your wallet connected, click the Bookmark button on a project page, and sign with your browser wallet. You can then hover over your wallet in the top-right, click My Account, and then go to the Saved Projects tab.
That’s all for the project page for now. Keep an eye out for more new features like Project Taglines, editing descriptions with markdown and the ability to post updates about your project. Drop into the Discord to let us know what you think about the new Project Page. Please report any issues in the Bugs channel or request a feature here.
One of the core values of any charity or non-profit is accountability and transparency: non-profits are public organizations and should always remain accountable to their donors so that funds are used as promised. This lines up perfectly with the open and transparent ethos of Juicebox, so let’s dive into a couple examples of non-profits and fundraisers running on Juicebox.
You can follow along in this article, or a video by Matthew on the JBDAO YouTube:
Marin County Swim Association is a 501(c) non-profit that was established to help bring more water polo opportunities to Marin County. Historically, Marin residents have had to travel outside of the county to participate in high level competitions and workshops. The MCSA helps break down these accessibility barriers by hosting tournaments for Marin residents and by bidding on USA Water Polo Pacific Zone events.
Photograph of MCSA tournament
In addition to raising funds IRL, MCSA founder Steve launched a Juicebox project to accept donations in ETH. On the MCSA project page on juicebox.money, you can see past contributions, how much has been raised so far, and where funds will go when withdrawn. Steve also offers tax receipts for US-based contributions upon request.
Del Piero is a founding member of SharkDAO, a subDAO of NounsDAO that raised over 1000 ETH on Juicebox to acquire Nouns NFTs. In January 2022, Del Piero launched a campaign for his three year old son's cancer treatment and thank to the Nouns community he was able to raise over 21 ETH, worth over $60,000 at the time of the fundraiser.
Photograph of Dek Piero's son in the hospital wearing a Nouns hoodie
Recently, Del Piero launched another campaign after his son started resisting the previous treatments and has since raised an additional 12 ETH. Just like the MCSA, on his project page you can see recent contributions, how much has been raised so far, and where funds will go when withdrawn.
So, how does Juicebox work for charities and non-profits? You can create a project for free on juicebox.money, share your story with your community, and start raising funds for your cause. Your project can be set-up with rules and limits in place that help build trust with supporters and prevent scams:
First, you decide on Cycles—which can be five days, two weeks, a month, anything you like—and all of your project settings will be locked for that period of time. Of course you can change your project settings for future Cycles, and supporters will also be able to see this on your project page.
Second, you can set-up Payouts which set onchain rules for where funds will go and how much can be withdrawn. Usually this is a specific fundraising target, which sets a limit for how much can be withdrawn in total per Cycle.
For example, let’s say you want to raise 5 ETH in 4 weeks. You can set your Cycle to 4 weeks long and set a limited Payout of 5 ETH, so within that 4-week period you’ll only be able to withdrawn 5 ETH from the project. Any extra can be redeemed by token holders or carried over to future Cycles.
In addition to Cycles and Payouts, Juicebox also offers redemptions which are a mechanism to offer refunds to supporters.
When supporters pay your project, they receive tokens. Depending on whether you deploy an ERC-20 token or not, these will either be in their wallet or internally accounted for by the Juicebox contracts.
If you want to offer refunds, you can set your project’s Payouts to None which will then allow supporters to burn their tokens and receive ETH in return.
For example, let’s say you’re fundraising to save a local business from going under and you weren’t able to raise enough in time. Rather than supporters wondering what will happen to their contributions, you can set Payouts to None for the next cycle and as soon as it begins, they’ll be able to redeem their tokens for the amount of ETH they contributed.
Another cool thing about fundraising on Juicebox is that you can issue NFTs as rewards for contributions. These NFTs could simply be artwork as a thank-you or they could also be used to unlock special perks like membership to a private Discord server, they could be redeemable for exclusive merch, or used for voting in onchain governance.
Launching a project on Juicebox for your charity or non-profit allows you to fundraise for your cause out in the open. By managing funds onchain you can build trust with your community by showing supporters where funds will go after they contribute. The transparency and accountability of onchain treasuries is a perfect fit for non-profit organizations and can help you gain donors for your cause.
Fundraising plays a crucial role for non-profit organizations and charities, serving as a lifeline for their operations and initiatives. The money gained from crowdfunds helps these organizations to fulfill their mission, support their beneficiaries, and create a positive impact in the community. In today's digital age, leveraging online platforms and digital tools has become increasingly vital, as it allows non-profits and charities to extend their reach to a broader audience and engage supporters globally in order to amplify their impact towards their cause.
GoFundMe is one of the most recognized platforms for non-profits, charities, and other causes, while Juicebox has emerged as a new crowdfunding tool dominating the crypto space. In this article we’ll cover the differences between GoFundMe and Juicebox in terms of fees, funding model, rewards, global scale, payout time and customization.
Fundraisers on GoFundMe have no initial charge, but ask donors for an optional tip for using the platform. Campagins on Juicebox are free to launch, but charge a withdrawal fee of 2.5% whenever funds are distributed from a project. It’s worth noting that while creating a project on juicebox.money is free, there are transaction fees from Ethereum that could cost $100 or more when launching a project. This will change down the road as Juicebox is expands to Layer-2 chains like Arbitrum and Polygon.
On the flipside, because Juicebox is community-owned, any fees paid will earn you $JBX tokens. These tokens grant you the power to actively participate in JuiceboxDAO governance, shaping the future of Juicebox. In other words, the community that uses Juicebox also owns Juicebox!
Although launching a campaign is free on GoFundMe, all payments have a transaction fee of 2.9% + $0.30 per pledge. In contrast, Juicebox does not take a cut of any payments that are made to your project, but again, because the protocol is built on Ethereum, supporters will be responsible for paying a gas fee when contributing to your project. These gas fees could amount to $20 or more, depending on network congestion. It's important to note that these Ethereum network fees do not benefit Juicebox in any way but are associated with the network itself.
All campaigns on GoFundMe allow project creators to set a goal and keep the funds the raise regardless if they meet their goal or not. Both GoFundMe and Juicebox offer indefinite campaign lengths, but Juicebox offers three different models for how you can manage funds, with the flexibility to pause payments, or offer refunds if needed.
With Juicebox, you have the power to lock project settings for a timeframe of your choosing, known as a cycle. Whether it's 3 days, 2 weeks, or even a month, you have the freedom to decide how long all of your settings stay in place for while choosing between three different funding models:
1. Limited Payouts
This option allows you to withdraw only a predetermined amount each cycle. It provides backers with a 100% guarantee that you cannot withdraw more than the fixed limit. Imagine setting up a Limited Payout of 2 ETH and raising 3 ETH during a cycle. In this scenario, you can withdraw only 2 ETH, while the remaining 1 ETH can be redeemed by backers by burning their tokens for ETH. If unclaimed, the surplus ETH stays within the project, and can be used towards future cycles. Limited Payouts serve as an anti-scam mechanism, offering transparency and trust to your backers. It's an ideal choice for campaigns that thrive on growing alongside their supporters, with the flexibility to set new goals as milestones are achieved.
2. Unlimited Payouts
With this option, you can withdraw as much ETH as you raise, without any fixed limits during the cycle. Backers, however, cannot claim refunds during that particular cycle. Refunds can be enabled by switching payouts to "None" in a future Cycle giving backers the option to redeem their tokens for refunds. Unlimited Payouts are perfect for fundraisers seeking to maximize their funding potential, although it's essential to consider potential risks associated with this approach.
3. None
In this scenario, none of the project's ETH can be withdrawn by the project owner during that cycle. All ETH remains within the project, allowing backers the freedom to redeem their tokens for ETH and obtain refunds at any time. In future Cycles, you have the flexibility to change the Payouts setting as per your requirements. Setting Payouts to None is particularly useful for campaigns that prioritize giving backers the option to request refunds whenever they desire.
Moving on, the next category we’ll look at is Rewards, so if backers meet a certain funding criteria they can receive perks. Crowdfunding campaigns that use rewards often have a higher success rate than those without because they create incentives for a variety of backers to support your project at different price points.
GoFundMe does not allow any use of rewards for donors on its platform.
On Juicebox, you can offer as many reward tiers as you’d like using NFTs. These NFT rewards can be listed at any price and can be represented by an image, GIF, or video. You can choose to set a limited or unlimited supply for each tier, so for example you can make higher tiers more exclusive with only 10 available vs. more accessible lower tiers with up to 100 available. Supporters can contribute as many times as they’d like, with no contribution limit, and can receive multiple rewards if they choose.
Juicebox also offers advanced tokenomics features, enabling the allocation of tokens to team members and offering incentives to early supporters, fostering long-term engagement. For an in-depth understanding of Juicebox project tokenomics, be sure to explore the comprehensive tutorial provided in Part 1 and Part 2.
The next category we’ll talk about is global reach. While GoFundMe is limited to just 19 countries, primarily in North America and Europe, Juicebox is fully permissionless, you can launch a project from anywhere worldwide, attracting backers from across the globe. Whether you're an individual, a non-profit organization, a company, or a decentralized autonomous organization (DAO), Juicebox welcomes everyone with open arms.
As long as you have an internet connection, you can use juicebox.money.
Payout time is a critical part of campaigns for charities, especially those seeking funds for medical expenses. GoFundMe withdrawals take on average 2-5 business days for the funds to safely be deposited into the bank account on file. It’s worth noting that you must first connect the bank account of choice before being able to receive funds which could take 3-7 business days or longer to complete.
Juicebox, on the other hand, offers you complete control over payout timing. You can send payouts from your project at any point during the cycle you set, as long as they fall within the pre-defined limit. For example, if you had a project with a 14-day cycles and Limited Payouts of 10 ETH, you could make a single withdrawal or multiple smaller transactions anytime, up to the total limit of 10 ETH. If you opt for Unlimited Payouts, there are no limits to when you can withdraw funds during the Cycle.
Lastly, let's explore customization options for your campaign.
Campaigns on GoFundMe mandate the location of the bank, a project title up to 35 characters, and offer a custom description and cover image to personalize your project.
Juicebox provides a range of options to personalize your project. You can set a display picture, a banner image, and craft a description that captures the essence of your initiative. Additionally, you can customize your project URL with an Ethereum Name Service (ENS) handle, adding a unique touch to your campaign.
Project pages on Juicebox are going to get even juicier because the Peel frontend team has an exciting update in store. Stay tuned for a brand new project page design, featuring new features like image integration, text with markdown formatting, and the ability to post updates as your project progresses within the next month.
Juicebox sets itself apart from GoFundMe for its full flexibility, giving project creators full control over how funs can be raised, when they can be dispersed as well as having an unlimited global reach and optional incentives for donors using rewards. Moreover, accepting payments in ETH on Juicebox provides exposure to a new audience and the potential for increased value if the price of ETH rises. However, it's important to note that ETH is a volatile asset, and it's crucial to conduct thorough research and understand the associated risks of cryptocurrencies.
If you’re not sure which way to go for your next campaign, you should consider launching your campaign on Juicebox in addition to GoFundMe. By launching your project on GoFundMe and supplementing it with crypto crowdfunding on Juicebox, you can leverage the benefits of both worlds. Need help setting up your campaign or have a question? Book a one-on-one onboarding call today.
When it comes to crowdfunding, new tools to fundraise pop up every year. Indiegogo is one of the more recognized tools for creators and entrepreneurs, but did you know that Juicebox is one of the leading crypto crowdfunding tools, raising over 50,000 ETH in volume?
In this article, we’ll cover the main differences between crypto crowdfunding on Juicebox and Indiegogo as a traditional fundrasing platform. We’re going to look at the advantages and disadvantages in terms of fees, funding models, rewards, global reach, payout time, and customization. And even though we’re comparing Juicebox to Indiegogo, it’s not one or the other: the best option for most campaigns is to also launch on Juicebox so that you can accept payments in ETH.
So, let’s start with platform fees. It’s free to start a campaign but Indiegogo charges a platform fee of 5% of all funds raised. And if you launch a campaign using Indiegogo’s InDemand program after launching your project elsewhere, like Kickstarter, they also charge an 8% fee of all funds raised.
Juicebox works differently and charges a 2.5% fee anytime funds are withdrawn from a project. And although creating a project on juicebox.money is free, you should keep in mind that Juicebox runs on Ethereum mainnet so there are transaction fees that could cost $100 or more when launching a project. This will change down the road as Juicebox is made available on Layer-2 chains like Arbitrum and Polygon.
Because Juicebox is community-owned, you’ll receive $JBX tokens in return for any fees paid which will allow you to get involved with JuiceboxDAO governance and help make decisions about Juicebox’s future. In other words, the community that uses Juicebox also owns Juicebox… which is something that traditional crowdfunding platforms lack.
Now on top of the platform fees, Indiegogo also charges processing fees for each payment that comes in. For Indiegogo, processing fees are 3% plus .30 cents per pledge. Keep in mind that these rates will vary from 3-5% depending on your country.
Again, Juicebox works a bit differently and doesn’t charge any processing fees for incoming payments. That said, since it is built on Ethereum, supporters will need to pay a transaction fee (also known as “gas”) when paying your project which could cost $20 or more depending on network congestion. To be clear, this is an Ethereum network fee and does not benefit Juicebox in any way.
Indiegogo offers 2 options for campaigns; “all or nothing” and “flexible funding.” In all or nothing, a project sets a specific fundraising target and if it reaches that goal it gets to keep all of the money… however, if it doesn’t, then all of the money gets returned to backers. “Flexible funding” is the second option, which lets the project owner keep all the funds raised even if they don’t meet their goal.
With Juicebox, project settings are locked for a period of time that you decide: this is called a Cycle. This could be 3 days, 14 days, 1 month, whatever you set it to be. If you want your fundraiser to last 8 weeks, you could set your cycle to 8 weeks and decide on Payouts which are like your fundraising goal. Juicebox lets you set Payouts in three ways:
Option 1: Limited
The first option is Limited which lets you withdraw only a set amount each cycle. This gives a 100% guarantee to backers that you can’t withdraw more than that fixed limit. So if you set-up a Limited Payout of 2 ETH and you end up raising 3 ETH, you can only withdraw 2 ETH for that cycle. The remaining 1 ETH could be redeemed by backers by burning their tokens for ETH, but if nobody redeems then the surplus ETH will stay in the project and can be used for future cycles. You can think of Limited Payouts as an anti-scam mechanism for backers because the project owner can’t just disappear with all of the funds: you know how much they can withdraw each Cycle. Limited Payouts are a great option for campaigns that want to grow with their backers: you can set new goals as you reach new milestones, while giving your supporters full transparency along the way.
Option 2: Unlimited
The second option is Unlimited, which lets you withdraw as much ETH as you raise with no fixed limit. With Payouts set to Unlimited, backers cannot get money back during that cycle. This can be changed by setting Payouts to None in a future cycle which gives backers the option to get refunds by redeeming their tokens. Unlimited Payouts are a great option for fundraisers that don’t have a set goal and want to raise as much money as possible, but this can also present some risk to potential supporters.
Option 3: None
The last option is “None” which means that none of your project's ETH can be withdrawn in that cycle. All ETH will stay in your project which gives backers the freedom to redeem their tokens for ETH and get their money back at any time. This can be changed in a future cycle if you want to withdraw the funds. Setting Payouts to None is useful for campaigns that want to give backers the option to get a refund whenever they want.
Overview of Payout Settings on Juicebox
Unlike Indiegogo, projects on Juicebox can adapt over time so you can change your Payout limits and Cycles as the needs of the project evolve. For example, maybe your first cycle is 60 days long with a limit of 50 ETH for your initial fundraise to cover manufacturing costs, whereas your second cycle is 120 days long with a limit of 20 ETH to go towards marketing. Instead of being locked into a fixed campaign length of 60 days or less, you can fundraise long-term on Juicebox and edit your project settings over time. You can also put your project on Pause and stop accepting payments, if you need.
Moving on, the next category we’ll look at is Rewards, so if backers meet a certain funding criteria they can receive perks. Crowdfunding campaigns that use rewards often have a higher success rate than those without because they create incentives for a variety of backers to support your project at different price points.
Indiegogo’s rewards allow backers to contribute multiple times (up to $50,000 in a single transaction) to a project to receive multiple rewards. Projects on Indiegogo can only list up to 10 reward tiers.
On Juicebox, you can offer as many reward tiers as you’d like using NFTs. These NFT rewards can be listed at any price and can be represented by an image, GIF, or video. You can choose to set a limited or unlimited supply for each tier, so for example, you can make higher tiers more exclusive with only 10 available vs. more accessible lower tiers with up to 100 available. Supporters can contribute as many times as they’d like, with no contribution limit, and can receive multiple rewards if they choose.
Juicebox also offers advanced tokenomics features which allow you set aside tokens for members of your team and create incentives for backers to support your project early and stay engaged long-term. If you’d like to learn more about tokenomics for Juicebox projects, check out Part 1 and Part 2 of our tokenomics tutorial.
The next category we’ll talk about is global reach. Indiegogo used to support 225 countries when they first launched but have since cut down to 33 countries.
On Juicebox, it doesn’t matter where you’re from, you can launch a project from anywhere in the world and backers from around the globe can support your project. Anyone can launch a campaign on Juicebox, whether they’re an individual, a non-profit, a company, a DAO, or any other organization.
As long as you have an internet connection, you can use juicebox.money.
On Indiegogo, once you reach your crowdfunding target, you have to wait 15 days before you can receive the funds from Indiegogo.
On Juicebox, you can send payouts from your project anytime during the cycle, within the limits that you set when creating your project. For example, if your project has 14-day cycles and Limited Payouts of 10 ETH, then you can withdraw funds at any point in that 14-day cycle up to the limit of 10 ETH. You could do this all in one transaction or several smaller transactions along the way. And if you have Unlimited Payouts set instead, you can withdraw at any time during the cycle with no limit.
The last category that we’ll cover is customization.
Indiegogo lets you choose your project title, add a description, images, and videos from YouTube or Vimeo.
On Juicebox you can set a display picture, banner image, add a description, and customize your project URL with an ENS handle. Adding images and videos to your project description isn’t supported on juicebox.money but the frontend team at Peel is releasing a brand new project page within the next month. Stay tuned for a fresh new design and new features like the ability to add images, text with markdown formatting, and post updates as your project develops.
What makes Juicebox stand out from traditional crowdfunding platforms is its flexibility when it comes to how you want to run your campaign. You can launch your project and get support from anywhere in the world, set new goals for your campaign as it grows, use tokens to build community & offer perks and incentives for supporters, and stand out in a marketplace that’s not oversaturated. Best of all, this all happens transparently and out in the open with clear rules in place: you can see how much money can be withdrawn, where funds go, who else has backed the project, and if project settings are changed for future cycles.
I think Indiegogo and Juicebox both have their pros and cons, so my advice is that you should combine traditional crowdfunding platforms like Indiegogo with crypto crowdfunding on Juicebox. This lets you get the best of both worlds while bringing your project to a new audience by accepting payments in ETH. And since you don’t have a 60-day deadline like on Indiegogo, funds kept in your Juicebox project may actually appreciate in value if the price of ETH increases. That said, always keep in mind that ETH is a volatile asset so please do your own research about the risks of cryptocurrencies.
When it comes to launching a campaign, the choices for crowdfunding are abundant. Kickstarter is one of the most recognized traditional crowdfunding platforms, while Juicebox has recently emerged as a pivotal force when it comes to crypto fundraising. In this article, we’ll look at the advantages and disadvantages of both tools in terms of fees, funding models, rewards, global reach, payout time, and customization.
When launching a campaign on Kickstarter, there’s no initial fee, but they do charge 5% of all funds raised. Juicebox on the other hand, charges a mere 2.5% fee whenever funds are withdrawn from a project. Keep in mind that while creating a project on juicebox.money is free, since Juicebox runs on Ethereum mainnet, there are transaction fees that could cost $100 or more when launching a project. This will change down the road as Juicebox is made available on Layer-2 chains like Arbitrum and Polygon.
It’s worth noting that because Juicebox is community-owned, any fees paid will earn you $JBX tokens. These tokens grant you the power to actively participate in JuiceboxDAO governance, shaping the future of Juicebox. In other words, the community that uses Juicebox also owns Juicebox… which is pretty cool.
Now on top of the platform fees, Kickstarter also charges processing fees for each payment that comes in. For US-based projects, the fee stands at 3% plus $0.20 per pledge, which may vary from 3-5% depending on your country.
In contrast, Juicebox does not take a cut of any payments that are made to your project, but because the protocol is built on Ethereum, supporters will be responsible for paying a transaction fee, also known as gas, when contributing to your project. These gas fees could amount to $20 or more, depending on network congestion. It's important to note that these Ethereum network fees do not benefit Juicebox in any way but are associated with the network itself.
Moving onto funding models, Kickstarter is infamous for its “all or nothing” approach where a project sets a specific fundraising target and if it reaches that goal it gets to keep all of the money… however, if it doesn’t, then all of the money gets returned to backers.
With Juicebox, you have the power to lock project settings for a timeframe of your choosing, known as a cycle. Whether it's 3 days, 14 days, or even a month, you have the freedom to decide how long all of your settings stay in place for while choosing between three different funding models:
1. Limited Payouts
This option allows you to withdraw only a predetermined amount each cycle. It provides backers with a 100% guarantee that you cannot withdraw more than the fixed limit. Imagine setting up a Limited Payout of 2 ETH and raising 3 ETH during a cycle. In this scenario, you can withdraw only 2 ETH, while the remaining 1 ETH can be redeemed by backers by burning their tokens for ETH. If unclaimed, the surplus ETH stays within the project, and can be used towards future cycles. Limited Payouts serve as an anti-scam mechanism, offering transparency and trust to your backers. It's an ideal choice for campaigns that thrive on growing alongside their supporters, with the flexibility to set new goals as milestones are achieved.
2. Unlimited Payouts
With this option, you can withdraw as much ETH as you raise, without any fixed limits during the cycle. Backers, however, cannot claim refunds during that particular cycle. Refunds can be enabled by switching payouts to "None" in a future cycle giving backers the option to redeem their tokens for refunds. Unlimited Payouts are perfect for fundraisers seeking to maximize their funding potential, although it's essential to consider potential risks associated with this approach.
3. None
In this scenario, none of the project's ETH can be withdrawn by the project owner during that cycle. All ETH remains within the project, allowing backers the freedom to redeem their tokens for ETH and obtain refunds at any time. In future cycles, you have the flexibility to change the Payouts setting as per your requirements. Setting Payouts to None is particularly useful for campaigns that prioritize giving backers the option to request refunds whenever they desire.
Overview of Payout Settings on Juicebox
Unlike Kickstarter's rigid campaign duration, Juicebox enables projects to adapt over time. You can modify Payout limits and Cycles as your project evolves. For example: your first cycle could be 60-days long with a limit of 50 ETH for your initial fundraise to cover manufacturing costs, followed by a 120-day cycle with a limit of 20 ETH dedicated to marketing efforts. On Juicebox, you're not constrained by fixed campaign lengths, allowing you to fundraise on your terms. Moreover, you have the freedom to pause your project and stop accepting payments if needed.
Moving on, the next category we’ll look at is Rewards, so if backers meet a certain funding criteria they can receive perks. Crowdfunding campaigns that use rewards often have a higher success rate than those without because they create incentives for a variety of backers to support your project at different price points.
On Kickstarter you can offer as many pledge reward tiers as you want, but backers can only choose one reward per project. It’s also worth noting that all US-based projects have a limit of $10,000 in place for pledges, so you can’t offer rewards at higher price points than that and you can’t raise more than $10,000 from a single supporter.
On Juicebox, you can offer as many reward tiers as you’d like using NFTs. These NFT rewards can be listed at any price and can be represented by an image, GIF, or video. You can choose to set a limited or unlimited supply for each tier, so for example you can make higher tiers more exclusive with only 10 available vs. more accessible lower tiers with up to 100 available. Supporters can contribute as many times as they’d like, with no contribution limit, and can receive multiple rewards if they choose.
Juicebox also offers advanced tokenomics features, enabling the allocation of tokens to team members and offering incentives to early supporters, fostering long-term engagement. For an in-depth understanding of Juicebox project tokenomics, be sure to explore the comprehensive tutorial provided in Part 1 and Part 2.
The next category we’ll talk about is global reach. While Kickstarter is limited to 25 countries, primarily in North America and Europe, Juicebox is fully permissionless, you can launch a project from anywhere worldwide, attracting backers from across the globe. Whether you're an individual, a non-profit organization, a company, or a decentralized autonomous organization (DAO), Juicebox welcomes everyone with open arms.
As long as you have an internet connection, you can use juicebox.money.
Time is of the essence when it comes to accessing your funds, so that your campaign can scale successfully. Kickstarter imposes a 14-day waiting period after reaching your funding goal before releasing the funds to you. Juicebox, on the other hand, offers you complete control over payout timing. You can send payouts from your project at any point during the cycle you set, as long as they fall within the pre-defined limit. For example, if you had a project with a 14-day cycles and Limited Payouts of 10 ETH, you could make a single withdrawal or multiple smaller transactions anytime, up to the total limit of 10 ETH. If you opt for Unlimited Payouts, there are no limits to when you can withdraw funds during the cycle.
Lastly, let's explore customization options for your campaign.
Kickstarter allows you to select your project title, add descriptions, and include images or videos of your product. Similarly, Juicebox provides a range of options to personalize your project. You can set a display picture, a banner image, and craft a description that captures the essence of your initiative. Additionally, you can customize your project URL with an Ethereum Name Service (ENS) handle, adding a unique touch to your campaign. While adding images and videos to the project description is currently unavailable on juicebox.money, the Peel frontend team has an exciting update in store. Stay tuned for a brand new project page design, featuring new features like image integration, text with markdown formatting, and the ability to post updates as your project progresses within the next month.
To summarize, Juicebox sets itself apart from traditional crowdfunding platforms through its unparalleled flexibility in campaign execution. It enables you to launch your project and receive support from anywhere globally. As your campaign evolves, you can set new goals and adjust your Payouts while maintaining a healthy and transparent relationship with your backers. By utilizing tokens, Juicebox empowers you to build a thriving community, offer perks and incentives, and stand out in a less saturated marketplace.
Moreover, accepting payments in ETH on Juicebox provides exposure to a new audience and the potential for increased value if the price of ETH rises. However, it's important to note that ETH is a volatile asset, and it's crucial to conduct thorough research and understand the associated risks of cryptocurrencies.
If you’re not sure which way to go for your next campaign, you should consider launching your campaign on both Kickstarter and Juicebox. By launching your project on Kickstarter and supplementing it with crypto crowdfunding on Juicebox, you can leverage the benefits of both worlds. This approach allows you to tap into a wider audience while accepting payments in ETH. With Juicebox, you also enjoy the added advantage of an extended campaign duration, potentially benefiting from any appreciation in the value of ETH, however, please do your own research about risks of cryptocurrencies.
Since the launch of the Juicebox Protocol, crypto crowdfunding has emerged as a transformative force, redefining the traditional fundraising paradigm.
With its ability to connect projects directly with a global network of anons and bypass the limitations of traditional financial systems, crypto crowdfunding has a huge potential for the next generation of projects seeking new models of funding. Over the last couple years, this has been arguably the most popular way to use Juicebox. This article will dive into success stories of past projects on the protocol that launched successful crowdfunding campaigns on Juicebox.
You can follow along in this article, or a video by Matthew on the JBDAO YouTube:
In November 2021, ConstitutionDAO raised over $46 million in ETH to purchase an original copy of the U.S. Constitution on auction at Sotheby’s. The whole project started out as a meme on Twitter when the auction was announced with friends joking, “what if we put our money together and bought the Constitution???” A week later, the campaign managed to raise 11,600 ETH with over 19 thousand individual payments.
In late 2021, MoonDAO rallied a community of space enthusiasts and raised $8.3 million to send a DAO member to space on a Blue Origin rocket. Their ambitious long-term roadmap goals include building a settlement on the Moon by 2030. Raising over 2600 ETH with 2600 individual payments, their unique mission demonstrates that setting ambitious and even outlandish goals can pay off when they resonate with your audience.
In both of these examples, it all started with a meme-worthy idea that went viral. There’s definitely something to learn here: a thriving community is a necessity for a successful fundraiser. ConstitutionDAO leveraged Nicholas Cage from National Treasure as a meme and managed to get thousands to join their Discord within 48 hours. But in most cases, you’ll need to have an audience established before starting your campaign.
So, how does Juicebox work for fundraising? You can create a project on juicebox.money, put rules in place to build trust with potential supporters, and set-up payouts so that your community knows where funds will go. You can also issue fungible tokens or NFTs which can be used for governance, token-gated perks, or refunds if you need. You can also use NFTs to create pledge rewards if people meet a minimum funding criteria.
A crowdfunding campaign on Juicebox might look something like this:
supporters put ETH into your project and receive tokens in return
ETH in the project can be paid out and put toward the goal of the campaign
if the campaign goal isn’t met, refunds can be enabled via redemptions so supporters can burn tokens for ETH remaining in the project
Crowdfunding on Juicebox means crowdfunding transparently and out in the open, so supporters can see where funds will go and what guardrails are in place to prevent scams. Rules like Payout limits and Cycles are hard-coded into smart contracts, so you don’t need to trust the project creator because it’s onchain. There are still risks though, so please do your own research before contributing to a project.
Since launching over a year ago, Juicebox has improved its features and security for programmable treasuries to its current and third version of contracts. The jump from V1 to V2 gave more control and flexibility around tokenomics, and now the V3 contracts include new NFT rewards functionality as well as small security patches following the audit report on V2.
All project owners can migrate their projects to V3 easily and quickly by essentially reconfiguring their project on V3. In this tutorial, we’ll show you how STVG, a Juicebox contributor and project owner of Marin County Swim Association migrated his project from V2 to V3 in less than 5 minutes.
To learn more about Marin County Swim Association, check out Juicecast episode 11 with STVG on Youtube, Spotify, and Apple Podcasts.
tip
Project owners can choose to reconfigure their V2 treasury to be paused and converge onto V3 protocol, or operate both treasuries at the same time. Not sure what strategy is best for you? Hop into the Support Channel in the Juicebox Discord and a fellow Juicer will help you out.
You can follow along in the video made by STVG or step-by-step in this article. Note that you must be the owner of the Juicebox project in order to migrate to V3.
Once you’re in project settings, scroll down to Project upgrades on the left side panel at the bottom. Next you’ll see what version you’re currently on and a button that says Start upgrade.
This is where you’ll begin to reconfigure your project settings to launch a V3 funding cycle.
The first thing to set is theStart time. You can set this to whatever time you want to relaunch your project on V3. If you want it to start immediately you can just leave it blank. Note that if you have a specific time you want, it will have to be set in a Unix timestamp, which you can easily determine by using this online unix converter here.
In this example, STVG wanted to launch his V3 funding cycle on December 1st, 2022 at 1:00AM PST. You can enter whatever time you want your project to start here and simply copy and paste the timestamp into the Start time on the Juicebox project upgrade page.
tip
Fun fact: Unix time is a date and time system widely used in computing that measures time by the number of seconds that have elapsed since 00:00:00 UTC on 1 January 1970.
When you’re done setting a start time, click Funding.
Here you can set your Funding Cycles (how long all the settings on your project are locked for) and Payouts (what address(s) the funds in the treasury can be sent to once per funding cycle).
This process is similar to the latest create project flow on Juicebox, where you can have Automated Funding Cycles or Manual Funding Cycles. You can keep the same settings from your old contract if you don’t want to change things like the payout address(s) or funding cycles, or you can use this opportunity to update changes to reflect the needs of your project.
For Payouts you can decide if one address is receiving all the funds that get distributed or you could configure it to add other people, for example if you had a second person working on the project you split the payouts 50/50. You can do this either through Percentages of Specific amounts denominated in ETH or USD. When you’re done making any changes, click Save funding configuration, then click Token.
This is where you can customize different settings for the tokenomics of your project including:
Mint Rate (number of tokens per 1 ETH minted)
Reserved token allocation (option to set aside a percentage of all tokens that get minted when people contribute ETH to the project)
Discount Rate (option to decrease how many tokens are issued over each funding cycle to incentivize early contributors)
Redemption rate (determine what proportion of treasury assets can be reclaimed by a token holder by redeeming their tokens, AKA incentivize contributors to hold their tokens longer to get a better rate if they decide to burn the tokens in exchange for ETH in the future)
In this example, STVG left most of these settings untouched but added himself to the Reserved Token Allocationby clicking Add Token Allocation. then adding his ENS address in the field for the Beneficiary address and changing the Percentage allocation to 100% and confirming by clicking Add Token Allocation.
These token settings are turned off by default. If you’re not sure what to do, the Default Token Settings will work for most projects. You can always reconfigure these settings in the future, depending on the strategy of your Juicebox project. You can always hop into the Juicebox Discord if you need help! When you’re done, click Save token configuration.
Here you have the option to add NFTs to your Juicebox project so contributors can receive an NFT if they meet your minimum funding criteria. You can add as many NFTs as you want and determine the supply and price of each NFT. Next you’ll add a Collection Name and Collection Symbol, as well as an optional description of the NFTs. If you’re not ready, you can always add NFTs later on. You can also check out this tutorial on how to use NFTs. When you’re done, click Save NFTs.
Last but not least, you'll need to set the rules for your project before deploying.
Make sure to set your Reconfiguration Rules, which essentially creates a safety measure of how soon you can reconfigure your Juicebox project settings before they take effect. You can choose the 3-day delay (default) 7-day delay, No delay, or a Custom Strategy.
You can also decide to Pause Payments, Allow Token Minting, and Allow Terminal Reconfiguration. When you’re all done, click Save Rules.
