You can learn more about these updates in this article, or this walkthrough by Brileigh on JBDAO YouTube:

Step One: Connect Wallet and Manage Project​

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.

Step 2: Basic Details​

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.

Step 3: Introduce yourself​

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.

Step 4: Add images to break up text​

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

Step 5: Tell people your “Why”​

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.

Step 7: Save project details​

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!

Conclusion​

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.

Relevant links​

🐦 Follow Juicebox on Twitter: @juicebox_money

📬 Subscribe to Juice News, our weekly newsletter

💬 Join the Juicebox Discord

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

🎙️ Listen to an episode of The Juicecast

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:

What is Juicebox?​

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.

Example 1: Planet​

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.

Example 2: Etherfunk​

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.

How Juicebox works for open source software​

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.

Juicebox tokenomics for developers​

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

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.

Example of Buy Me A Coffee NFT

Conclusion​

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.

Resources​

If you have any questions about using Juicebox, come join the Discord or book an onboarding session at juicebox.money/contact.

🐦 Follow Juicebox on Twitter: @Juicebox_Money

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

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.

Step 2: Add project update​

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.

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.

Step 3: Post Update​

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.

Reasons to use Project Updates and tips​

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.

Relevant links​

🐦 Follow Juicebox on Twitter: @juicebox_money

📬 Subscribe to Juice News, our weekly newsletter

💬 Join the Juicebox Discord

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

🎙️ Listen to an episode of The Juicecast

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.

Artwork by Sage Kellyn from WAGMI Studios

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.

🐦 Follow Juicebox on Twitter: @juicebox_money

💬 Join the Juicebox Discord

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

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:

Example 1: MCSA​

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.

Example 2: Fighting Childhood Cancer​

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.

How Juicebox works for charities and non-profits​

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.

Conclusion​

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.

Resources​

If you have any questions about using Juicebox, come join the discord or book an onboarding session at juicebox.money/contact.

🐦 Follow Juicebox on Twitter: @JuiceboxETH

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

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.

Platform Fees​

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!

Payment Processing Fees​

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.

Funding Models​

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.

Rewards​

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.

Global Reach​

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​

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.

Customization​

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.

Conclusion - What Makes Juicebox Different​

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.

Resources​

If you have any questions about using Juicebox, come join the discord at discord.gg/juicebox or book an onboarding session at juicebox.money/contact.

🐦 Follow Juicebox on Twitter: @JuiceboxETH

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

🎙️ The Juicecast

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.

You can follow along in this blog post, or check out this video on the JBDAO YouTube which covers the differences between Kickstarter vs Indiegogo vs Juicbeox.

Platform Fees​

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.

Payment Processing Fees​

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.

Funding Models​

Next, let’s talk about funding models.

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.

Rewards​

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.

Global Reach​

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.

Payout time​

The next category we’ll look at is payout time.

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.

Customization​

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.

Conclusion - what makes Juicebox unique​

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.

Resources​

If you have any questions about using Juicebox, come join the Discord or book an onboarding session at juicebox.money/contact.

🐦 Follow Juicebox on Twitter: @JuiceboxETH

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

🎙️ The Juicecast

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.

You can follow along in this blog post, or this video on the JBDAO YouTube which covers the differences between Kickstarter vs Indiegogo vs Juicbeox.

Platform Fees​

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.

Payment Processing Fees​

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.

Funding Models​

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.

Rewards​

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.

Global Reach​

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.

Payout time​

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.

Customization​

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.

Conclusion - What Makes Juicebox Different​

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.

Resources​

If you have any questions about using Juicebox, come join the discord at discord.gg/juicebox or book an onboarding session at juicebox.money/contact.

🐦 Follow Juicebox on Twitter: @JuiceboxETH

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

🎙️ The Juicecast

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:

Example 1: ConstitutionDAO​

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.

Example 2: MoonDAO​

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.

Tips​

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.

How Juicebox works for fundraising​

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

Conclusion​

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.

Resources​

If you have any questions about using Juicebox, come join the discord at discord.gg/juicebox or book an onboarding session at juicebox.money/contact.

🐦 Follow Juicebox on Twitter: @JuiceboxETH

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

After countless workshops, discussions, and pull requests, the website for juicebox.money is now live featuring the new homepage, About page, and Success Stories, as well as some exciting new features like improved search and project tags. The new website was made possible by PeelDAO, the front end team building and maintaining juicebox.money, and WAGMI Studios, whose juicy artwork is featured throughout.

You can follow along in the video below or in this article.

The Homepage​

Let’s get started with the homepage. At the top we’ve got a call-to-action: create a project and Fund your thing. And right below you can see a few trending projects built on Juicebox, so you can browse what creators are building and find some projects that align with your values and interests.

Hero: Fund your thing, trending projects

You’ll also notice some categories at the top like DAO, NFT, and Fundraising. Those are a new feature: Project Tags! So for example, if you click on DAO you’ll be able to find projects that have added that tag. You can also use tags to filter your searches. Keep in mind that this is a new feature and not too many projects have added tags yet. Give it a try next time you’re browsing projects.

Explore Projects​

Once you’re on the Explore page, you’ll also notice that search has been completely revamped so it’s now way easier to find specific projects or browse to find new ones. Looking for projects by Krause House? Try searching terms like “NBA”. If you’re feeling nounish you can search “nouns” and find projects in the Nouns ecosystem like SharkDAO.

Explore page

Mental Models for Juicebox​

So going back to the homepage, you’ll see a few examples of the different types of projects that you can build with Juicebox. Whether you’re starting a DAO, crowdfunding for a cause, launching an NFT project, or building something else, you can manage the funds transparently with your community.

Mental models for Juicebox

Introducing Success Stories​

If you’d like to know more about past projects that have been successful, we’ve created a new Success Stories section which tells the story behind projects like ConstitutionDAO, MoonDAO, SharkDAO, and StudioDAO. Each case study will tell you how the project got started, how they set-up their project on Juicebox, and how they found success.

Success Stories

How, What, and Why you should Juicebox​

Back to the homepage, next we have a quick summary of how Juicebox works, including setting up your project with rules to build trust, managing your treasury onchain, and building your community with token and NFT issuance. You can also find a link to the docs if you want to learn more. Next we have a section highlighting some of Juicebox’s core strengths. Juicebox is:

• Community owned
• Reliable and transparent
• Trust minimized
• Flexible
• Extensible

What is Juicy Picks?​

After that we have the Juicy Picks section, which is a new section of curated projects on Juicebox that really stand out from the crowd. These projects will rotate on a monthly basis and will be chosen by the Juicebox community. Below this section you’ll find a number of categories you choose to find a project that’s right for you.

Juicy Picks for May 2023

New FAQ​

If you still have some questions, make sure to check out the FAQ section near the bottom of the homepage.

How to get in touch​

Last but not least, you’ll see a button at the bottom to contact onboarding. So if you’d like more personalized assistance while setting up your project, reach out via the contact form or join the Discord.

Shoutout to Sage Kellyn from WAGMI Studios for the amazing art and illustrations throughout the website. Juicebox really wouldn’t be the same without it.

New hero illustration for juicebox.money by Sage Kellyn

Banny, along with a fruity assortment of new characters have been reimagined to embrace Juicebox’s new brand identity. Paired with a slick sans serif Agrandir, a font that “celebrates the beauty of being imperfect,” the Juicebox brand update keeps the protocol fresh while acknowledging its punk origins.

New About Page​

Under Resources in the top navigation bar you’ll find a new About page for Juicebox. Here you can read about our mission statement, goals, learn about about the protocol and Juicebox DAO, the contributors at Juicebox, as well as our values.

Sections of the new About page on juicebox.money

The Juicebox protocol has grown a lot since its launch in July 2021. From contract versioning and audits to feature developments like tiered NFTs, to metaverse concerts at the Juice Lounge, countless members of Juicebox DAO have shaped what it is today through its active governance. Juicebox doesn’t drink from the kool-aid, it leverages the power of collective action through its community to help passionate creators and builders successfully launch and scale projects, openly on the Ethereum blockchain.

Screenshot of old version of juicebox.money

What are you waiting for, anon? Come explore the world of community-owned DAOs, fundraisers, non-profits, and other projects running on Juicebox today.

🐦 Follow Juicebox on Twitter: @JuiceboxETH

💬 Join the Juicebox Discord

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

Got JBX? This guide is for you!

Juicebox V3.1 contracts are now live and the V3 JBX token has been deployed to mainnet. If you hold V1 JBX or have unclaimed tokens from the Juicebox V2 project, you can now migrate to the V3 JBX token.

V1 JBX token address: 0x3abf2a4f8452ccc2cf7b4c1e4663147600646f66

V3 JBX token address: 0x4554CC10898f92D45378b98D6D6c2dD54c687Fb2

Before you start​

Here are a couple things to keep in mind before starting:

• The migration process will ask you to submit 3 or 4 transactions
• This process can take 15 minutes or longer
• You can migrate your tokens over time

The following guide assumes the following:

• you have V1 JBX and/or unclaimed Juicebox V2 tokens
• you use Metamask as your browser wallet

Your steps may vary depending on your situation. If you have questions, please visit the Support channel in Juicebox Discord.

Step 1: Navigate to the JuiceboxDAO project​

Connect your wallet and navigate to the JuiceboxDAO project: https://juicebox.money/@juicebox.

Step 2: Tokens tab​

Select the Tokens tab and refer to the Legacy tokens section. If you have JBX from JuiceboxDAO's V1 or V2 project, you should have legacy tokens. Click Migrate tokens.

Step 3: Grant permission for V1 tokens​

Click Grant permission for your V1 JBX and confirm the transaction in your browser wallet.

This transaction grants the V3 JBX contract permission to transfer your JBX on your behalf. If you have V1 JBX, this step is required for migration.

Step 4: Grant permission for V2 tokens​

Click Grant permission for your V2 JBX and confirm the transaction in your browser wallet.

This transaction grants the V3 JBX contract permission to transfer your Juicebox V2 tokens on your behalf. If you have Juicebox V2 tokens, this step is required for migration.

Step 5: Approve migration and set spending cap​

This transaction approves the V3 JBX contract to spend your V1 JBX on your behalf. If you have V1 JBX, this step is required for migration.

Click Approve and in Metamask select Use Default. This will approve the spend of your total claimed V1 JBX balance.

Click Next to proceed and then Approve to confirm the transaction.

Step 6: Migrate all approved tokens​

Click Migrate all approved tokens and confirm the transaction in your browser wallet.

This transaction migrates all approved V1 JBX and unclaimed Juicebox V2 tokens to JBX V3.

Step 7: Success!​

Refresh the page and revisit the Tokens tab. Be sure to verify the following:

• Your balance: should be greater than zero
• Legacy balance: should be zero

That's it! If you have questions, please visit the Support channel in Juicebox Discord.

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.

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.

Step 1: Project Settings​

Go to your project page that you are the owner of and click on Project Settings.

Step 2: Project Upgrade​

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.

When you’re done setting a start time, click Funding.

Step 3: 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.

Step 4: 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.

Step 5: NFTs (Optional)​

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.

Step 6: Rules​

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.

Step 7: Review and Deploy​

Last but not least, you can review a summary of all your new V3 settings before you deploy.

When you’re good to go, click Launch V3 funding cycle. This will prompt a transaction in your wallet which you’ll have to confirm and you’re done!

And that’s it! You’ve successfully migrated to V3.

If you need help along the way, jump into the Support channel in the Juicebox Discord.

🐦 Follow Juicebox on Twitter: @JuiceboxETH

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

Juicebox enables creators and communities to create and launch NFT projects with powerful yet simple tools tailored to your needs in an ongoing basis. In this tutorial we’ll guide you through how to configure a Juicebox project to sell NFTs in less than 10 minutes. Whether you’re a creator selling content, managing a DAO, NFT project or cryptocurrency crowdfund, you can sell NFTs easily on Juicebox with complete control and transparency.

You can follow along in this article or the Youtube video.

The example for this tutorial is an NFT project called Flamingo Sunday. We’re using Juicebox to sell flamingo NFTs at 0.1, 1, and 10 ETH tiers and anyone who contributes at those amounts will receive the corresponding NFT.

So head to juicebox.money, connect your wallet, and click Create a project.

Step 1: Project Details​

Here you’ll provide general information about your Juicebox project including the name, description, a logo, and add social links. You can even customize the Pay button, for this example we could make it say “we love flamingos.” Once you’re done, click Next.

Step 2: Funding Cycles​

If we set this to 14 days then all of our project settings will be locked for 14 days and we can only distribute funds from the treasury once during that 14-day cycle. This helps build trust so contributors feel safe that they won’t get rugged.

You can decide what’s best for your project and if you need the flexibility to change at any time, you can choose Manual Funding Cycles. If you’re not sure, you can start with Automated Funding Cycles.

Step 3: Funding Target​

This is where you decide how much money from the project can be distributed per 14 days (the length of your funding cycle)

If we set a Specific Funding Target of 10,000 USD, we can distribute up to 10,000 USD worth of ETH per 14-day funding cycle. This is like a hard cap on the amount that can be distributed from the treasury so the project owner can’t take all the funds and disappear. Anything over 10,000 USD worth of ETH will be considered Overflow and can be redeemed by anyone who contributed to the project, almost like a refund.

Another way to do this is an Infinite Funding Target which means you can distribute as much as you want from the treasury, but this can be perceived as risky to contributors to your project because you could take all the money and run. So for this example, we’ll go with a Specific Funding Target of 10,000 USD worth of ETH.

Step 4: Payouts​

Here you can decide where to distribute the ETH that we receive every 14 days. We can do this with percentages or specific amounts.

For example, with percentages, let’s say I am the artist that made Flamingo Sunday and I want to receive 100% of the funds that come in every 14 days.

If we were doing specific amounts, I could say that I want to receive 10,000 USD worth of ETH which is the total amount that can be distributed every 14 days to myself.

Both of these can be configured to add other people, for example if you had a team of four people (including yourself) working on the project, you could split the payouts 25% to each address by clicking Add Payout and adding their address and 25%.

But for this tutorial we’ll keep it simple and stick with 100% going to the project creator.

Step 5: Project Token​

Here you can decide how your project’s tokens will work. There’s a lot of things you can customize here but the Default Token Settings will work for most projects. You can always reconfigure this setting in the future, depending on the roadmap for your NFT project.

Step 6: NFTs​

Click Add NFT choose an image, and give it a name, a description, and the minimum ETH contribution in order for someone to buy the NFT. This is also where you can decide the supply. You can either have a limited supply—for example, only 10 can be minted—or an unlimited supply. You can also add an external link to point to a website of your choice.

You can repeat this process as many times as you like for each NFT you have. They can be priced and supplied all the same, or you can create tiers. Using tiered NFTs is a great way to create different incentives for people to support your Juicebox project at different price points.

Once you have all your NFTs added, you can create a collection name, description, and custom token symbol. For this project, we’ll call it “Flamingo”

There’s also an option to add a message that appears when contributors receive an NFT as well as a button with a link, this could be a project website, Twitter, Discord, etc.

Step 7: Confirm all settings (rules)​

The default is a 3-day delay, which means that any changes to the project settings need to be submitted at least 3 days before the next funding cycle starts. You can think of this as a safety measure. In other words, the project can’t suddenly change all of their settings.

You can change this to be longer, shorter, or no delay, but we’ll stick with the 3-day default.

Before deploying, review your settings and make any changes needed. You can always go back and tweak things before you deploy. Check the Terms of Service box and you’re ready to go! Click Deploy, confirm the transaction in your wallet, and your project is live!

Note that the NFT images might take awhile to display properly. If someone wants to purchase an NFT at the 0.1 ETH tier, for example, they just click on the NFT, click the customized pay button, click I understand to acknowledge the safety warning, and then click Pay. You can even leave a little on-chain memo like “we love the flamingos”, an image, or Banny sticker with your contribution.

So we’ll refresh the page and now you can see the NFT that we just purchased in the Activity feed on the right.

If you need help along the way, jump into the Support channel in the Juicebox Discord.

🐦 Follow Juicebox on Twitter: @JuiceboxETH

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

Setting a handle for your project on Juicebox is a great way to customize your page by linking your ENS to your project. Project handles on Juicebox make it easier for people to find your project and help set it apart with a vanity URL. This guide will show you how to set the handle directly from juicebox.money and manually using the ENS app in less than 5 minutes.

You can follow along in this article or the Youtube video.

Before you start, you need to have:

• An ENS name that you own and control
• A Juicebox project that you are the owner of

Step 1: Add Handle​

Click right underneath the Project title where it says Add handle.

Step 2: Set ENS name​

Enter an ENS name that you own, and click Set ENS name This will prompt a transaction that you’ll have to confirm with your wallet.

Step 3: Set text record​

After the transaction is confirmed, you’ll see that it lists the ENS chosen as the project handle, but you’re not done yet. Next you need to set the text record for that ENS name, so click the button below that says Set text record. Then confirm the transaction with your wallet.

It might take a few minutes to update, but you can refresh your project page and see the project handle below the project title. The project URL with the project ID number will still work, but you can also use your new URL which is juicebox.money/ @yourensname

And that’s it!

You can also set this text record manually using the ENS app.​

Before you do that, take note of your project number which you can always find under the project name or you can look at the URL for your project. In this example, our project is #368.

(Using ENS) Step 1: Add / Edit Record​

Go to app.ens.domains, go to My Account on the left and choose the ENS address that you want to use. Then you’ll click Add / Edit Record on the right side

(Using ENS) Step 2: Create juicebox_project_id​

You’ll choose text in the drop-down menu on the left and in the next drop-down where it says key we’ll click and start typing juicebox_project_id and then click the message that appear below that says create juicebox_project_id. Then we’ll click the field to the right and enter our project number which is 368.

(Using ENS) Step 3: Save and confirm​

Press Save and then scroll down to the bottom of the page to click Confirm. This will prompt a transaction that you’ll need to confirm your wallet. Once confirmed, you’ll see that it’s been added to the list of text records for that ENS address.

Now you can go back to your project on Juicebox, refresh the page, and your handle is now set to your ENS name! Please note that your old URL with the project ID will still work but we can now use juicebox.money/@flamingosunday.

And that's it!

If you need help along the way, drop into the Support channel in the Juicebox Discord.

🐦 Follow Juicebox on Twitter: @JuiceboxETH

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

In this article, we’ll cover how ConstitutionDAO used Juicebox to fundraise ~ $46 million (11,500+ ETH) in less than a week.

Nicolas Cage in National Treasure

The estimated value of the U.S. Constitution prior to the auction was $10-15 million dollars. In order to build trust with the crypto community and the wider public, the core team set up a 9/13 multisig with core team members and well-known figures in web3. They also set up a Juicebox project to fundraise transparently and out in the open with the community. And if they lost the bid, project contributors could get a refund using Juicebox’s overflow mechanism.

Spoiler alert: ConstitutionDAO did not win the auction. As a result, the core team enabled refunds and burned the keys to the project. In other words, the core team is no longer associated with or in control of the ConstitutionDAO project or the $PEOPLE token. On the Funding Cycle panel on the left, we can look in the History tab to see past funding cycle configurations. This article will break down the settings from Funding cycle #1 to see how they raised funds and Funding cycle #3 to see how they winded down the project.

Understanding ConstitutionDAO’s fundraising project configuration 🔎​

Taking a closer look at the configuration settings for Cycle #1, we can see that the following settings were used for their fundraise:

• Target: No target means that there is no predefined funding target (e.g. $15 million USD). This gave ConstitutionDAO the flexibility to raise as much as they could in order to try and win the auction. In other words, even if they raised $50 million USD, they could distribute the entire amount.

• Please note that Target is now Distribution Limit for v2/v3 projects on Juicebox, so in this example they set Distribution Limit to Infinite.

• Duration: Not set means that the project owner can start a new funding cycle with new configuration settings at any time without notice. This is a very flexible strategy but can seem risky to potential contributors because the project owner might change the project rules at any time. In ConstitutionDAO’s case, Duration could have potentially been set to 7 days to match the deadline for the auction at Sotheby’s.

• Redemption rate: 100% means that when claiming overflow i.e. funds in excess of the funding target, project contributors will be able to redeem their $PEOPLE tokens for ETH in the treasury at any time at the same rate at which they initially contributed. In other words, there is no incentive for holding tokens longer and redeeming later: all tokens have equal value regardless of when they are redeemed.

• Please note that since Target is set to No Target (same as Distribution Limit: Infinite), funds in the treasury will never be considered as Overflow and will therefore not be redeemable.

• Contributor rate: 1,000,000 PEOPLE/ETH means that project contributors would receive 1,000,000 $PEOPLE tokens per 1 ETH. This rate is the default setting when creating a Juicebox project but can be set to any amount desired.

• Discount rate: 0% means that the amount of tokens issued per 1 ETH will not decrease over time by a certain percentage. In other words, there is no incentive for contributing in Funding Cycle #1 vs. later funding cycles.

• Reserved $PEOPLE is set to 0% so project contributors would receive 100% of the 1,000,000 $PEOPLE per ETH with none set aside for addresses on the Reserved List. The core team made this choice to ensure that everyone had equal access to $PEOPLE tokens with no special team allocation.

• Payments: Enabled simply means that the project is currently accepting payments.

• Reconfiguration strategy: No Strategy means that there is no delay required before submitting a new Funding Cycle reconfiguration. If this were set to 3-day delay, the team would need to submit any changes 3 days before the next funding cycle begins. Delay periods give project contributors peace of mind by giving them advance notice of any changes being made to the project rules. Setting this to No Strategy has the same perceived risk as Duration: Not set.

ConstitutionDAO’s configuration for Funding Cycle #1

How ConstitutionDAO changed its project configuration after winding down 🤝​

After losing the auction at Sotheby’s, the core team reconfigured the project to indicate that they stopped fundraising and enabled refunds. We can see a few settings in Funding Cycle #3 that reflect this:

• Target is set to Ξ0. Instead of setting Target to No Target, the team set a target of Ξ0 meaning that since the target has been surpassed (obviously) all funds in the treasury are considered Overflow. $PEOPLE tokens could therefore be redeemed by project contributors for ETH in the treasury.

• Redemption Rate is set to 100%, meaning that ETH in the treasury could be redeemed at any time at the same rate as when funds were initially contributed. In other words, there is no incentive to hold the tokens longer and to redeem later: the same redemption rate will apply.

• Reserved PEOPLE is set to 100%. This looks confusing at first but due to the limitations of v1, this setting was the best way to disable the “Pay” button on the juicebox.money frontend in order to prevent any further project contributions. For v2/v3 projects, a project creator can simply reconfigure their project to Payments: Disabled instead.

• Duration: Not set and Reconfiguration Strategy: No Strategy typically present risks for project contributors since the project owner can start a new funding cycle with new configuration settings at any time without notice. In this case, the core team revoked ownership by sending the project to a burn address which meant that they could no longer control the project in any way. Therefore, this risk is no longer a factor and the project configuration settings are impossible to change.

ConstitutionDAO’s configuration for Funding Cycle #3

Relevant links 🔗​

🎙️ Listen to The Juicecast ConstitutionDAO Retrospective Part 1 (Apple Podcasts, Spotify), Part 2 (Apple Podcasts, Spotify), and Part 3 (Apple Podcasts, Spotify)

📙 Read the full story of ConstitutionDAO on the JB blog

🧃 See ConstitutionDAO’s project on Juicebox: https://juicebox.money/p/constitutiondao

🐦 Follow Juicebox on Twitter: @JuiceboxETH

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

A brief origin story of the Constitution of the United States 🇺🇸​

detail from the Dunlap & Claypoole original printing of the U.S. Constitution, 1787

Before we get into ConstitutionDAO, let's start with the Constitution itself.

In a way, you could say that the Constitution wasn't even the first Constitution. Before the Constitution came the Articles of Confederation which was an agreement between the thirteen original states that was approved by the Second Continental Congress on November 15th, 1777 and later came into effect after being ratified by the states on March 1st, 1781. The Articles of Confederation were drafted to establish and preserve the independence and sovereignty of the states. Over time, though, delegates found that the limitations of the central government were in fact too limiting and revisions began to be discussed.

Fast forward to the Constitutional Convention which took place between May 25th and September 17th, 1787 in Philadelphia. Initially intended to revise the Articles of Confederation, the four month convention was in fact the birth place of an entirely new Frame of Government: what is now known as the Constitution of the United States, the longest continuing charter of government in the world.

Scene at the Signing of the Constitution of the United States, Oil on Canvas, Howard Chandler Christy (1940)

What does the Constitution say? Here's the tldr;

• Articles I-III outline the three branches of the federal government: the legislative (bicameral Congress), the executive (the President and his lackeys), and the judicial (the Supreme Court).
• Articles IV-VI outline the rights and responsibilities of state governments, how states relate to the federal government, and the process of constitutional amendments.

The Constitution to ConstitutionDAO pipeline 📜​

Even though the story of ConstitutionDAO isn't about any particular person, we have to start somewhere. Our story begins with Graham Novak on Thursday November 11th, 2021. It's 9:55am and Graham is sitting in an office in Atlanta, Georgia where he manages crypto investments at 28th Street Ventures. A friend in a non-crypto group chat shares the link to an upcoming auction of the U.S. Constitution at Sotheby's with an estimated price of 10-15 million dollars.

The bid estimate seemed shockingly low to Graham. At the same time, he was researching group purchases by digital communities and in particular a recent acquisition made by FlamingoDAO. It also seemed odd to Graham that the Constitution was privately owned instead of being a public good: it was the longest continuing charter of government in the world and one of only thirteen remaining copies. Soon after, consensus was reached: let's buy the U.S. Constitution.

And from there it snowballed. Within the first day, ConstitutionDAO went from a group chat of friends to a Discord of over 2000 members with National Treasure memes spreading like wildfire. An initial email was sent to Sotheby's to start coordinating logistics.

First email sent to Sotheby's on behalf of the ConstitutionDAO campaign

Later that day there is a kick-off call around 8pm to start going over logistics and next steps. Some attendees were focused on the memes and having fun while others were deadly serious. Alice Ma, engineer and co-founder of Mad Realities, was one of the attendees for that first kickoff call:

On that first Friday night it was very obvious to us: why should this document be on sale to the highest bidder? Why is this not public property? That was the drive from the beginning. This was a National Treasure-style heist where we're heisting it from the next billionaire.

— Alice Ma

ConstitutionDAO pfp of Nicolas Cage from National Treasure

As they wrapped up the call, the clock started ticking. They had less than a week until the Sotheby's auction in New York City on November 18th, 2021.

ConstitutionDAO 🤝 Sotheby's​

Because Sotheby's wouldn't allow a DAO to bid, ConstitutionDAO partnered with a non-profit called Endaoment. They would hold custody of the document and bid on behalf of ConstitutionDAO at Sotheby's. Once the DAO won the auction, they would allow DAO members to draft proposals and vote to decide where the document would be displayed.

Nicolas Cage Banny by Sage Kellyn

ConstitutionDAO 🤝 Juicebox​

When it came time to raise money for the auction, ConstitutionDAO had three options: Mirror, Syndicate, and Juicebox. While each platform had a history of raising funds and starting DAOs, there were still concerns about putting millions of dollars into unaudited smart contracts. In the end, the team chose Juicebox because the overflow mechanism would allow refunds in the event that ConstitutionDAO didn't win the auction. It also seemed (somewhat) battle tested with SharkDAO previously raising several million dollars to buy the Shark Noun.

At 8:31pm on Sunday night (day 4), the Juicebox project launched on mainnet and the $PEOPLE token was deployed shortly after. Within ten minutes accepting contributions, ConstitutionDAO had already amassed $250,000 USD.

Artwork by Sage Kellyn

By Monday November 15th (day 5), the media narrative started to heat up. Core team members of ConstitutionDAO were being interviewed on CNBC, The New York Times, Bloomberg, and more. Everyone, including your neighbour, was starting to learn what the word DAO meant.

Core team members Alice Ma and Packy McCormick appear on CNBC news

Slowly and then all at once 📈​

At a certain point, fundraising started to plateau. Money was coming in but the momentum wasn't enough for the campaign to pass Sotheby's proof-of-funds requirements by Thursday, the day of the auction. Jon Hillis, core team member and co-founder of Cabin, had a plan:

We needed a big whale to make a contribution that would restart the hype engine and get us to the fundraising goal. So I set out to find a whale and in the end it was actually an anonymous address that put in $1 million right as things started to look stagnant. We then started seeing a lot more larger amounts coming in as well as a tremendous number of small dollar donations which set up the next meme cycle.

— Jon Hillis

Once the hype kicked in, money pouring into the Juicebox project was slow at first and then all at once.

ConstitutionDAO crossing $10 million dollars worth of ETH on Juicebox

Metaversal also committed $1MM live on the Andreesen Horowitz show on Clubhouse. The ball was rolling again and over the next 24 hours the treasury miraculously grew to over $40MM dollars. The money coming into Juicebox on the 17th going into the 18th made up more than half of the entire amount raised by ConstitutionDAO. The meme had reached escape velocity.

The last minute $46MM USD swap that saved the campaign 💵​

Leading up to the auction, the price of ETH fell 15% from $4800 to nearly $4000 USD. In response to this, Sotheby's informed the core team that they would no longer accept ETH as proof of funds as previously agreed upon. This meant that ConstitutionDAO needed to swap 11,500 ETH ( $46MM) OTC with FTX and they needed to do it fast.

The core team was (literally) sprinting to execute this transaction. They were calling family members and running around town to track down multisig signers in coffee shops they frequented or offices where they worked. The multi-sig was set up as a 9/13 meaning that nine signers were needed for this critical transaction to go through. It was set-up this way both for security and for the memes as the Constitution only became law once it was ratified by nine of the thirteen original states.

Not all of the multisig signers were core team members. Some were well known figures in web3 with a strong reputation and including them on the multisig was a way of building trust with the public. But beyond the challenge of public trust, there was also the challenge of coordinating 9/13 people to sign a transaction. For the OTC swap via FTX, ConstitutionDAO needed to execute a single transaction of 11,500 ETH to $46MM US dollars. On the afternoon of the 18th with only hours to spare before the auction, they managed to get the signers needed and were able to provide proof of funds to Sotheby's. The campaign was saved.

ConstitutionDAO's final act: the auction at Sotheby's 👨🏻‍⚖️​

Bidding escalated quickly and in the end, the winning bid was $41MM. ConstitutionDAO had raised $46MM, so they must have won... right? That's what most people thought, at least.

Over 11,500 ETH was raised by 17,000 contributors around the world, and in that final moment it all came down to... Brooke or David? Which bidder was representing ConstitutionDAO? While some core team members knew the answer, nobody in the broader community knew exactly what was happening.

Sotheby's had many requirements in order to bid on the Constitution. For one, the DAO needed to be able to care for the document. They couldn't just walk out of the auction with the Constitution in a plain manilla envelope, they needed to have funds set aside for proper care and maintenance of the document. And there was also the sales tax and other applicable fees which would be added onto the final hammer price. So even $41 million wasn't really $41 million, and the final sale price for the document ended up being $43,173,000 US dollars.

In the end, the winning bid went to hedge fund billionaire Ken Griffin, CEO of Citadel and founder of Citadel Securities. In the coming days, narratives emerged around a billionaire winning the auction instead of the 17,000 people who came together for the ConstitutionDAO campaign. It is worth noting that Ken has never collected historical documents prior to buying the Constitution. And given that he has publicly criticized crypto as “anti-American” and stated that Citadel would never invest in cryptocurrencies, his motivations for pursuing the auction may have been largely ideological.

Brooke Lampley representing Ken Griffin at the Sotheby's auction

Takeaways from this epic saga​

While ConstitutionDAO didn't win the auction, they raised over $40 million in less than seven days, onboarded thousands into crypto, and introduced the idea of a DAO to the public. And just as we had to start our story somewhere, we also need to end somewhere. So we'll come full circle to conclude with Graham:

ConstitutionDAO is a democratic story. It's a story of the people, a story of the underdogs. At some point, there's going to be enough capital, interest, and coordination in web3 that when you've got a large aggregate of people who are attempting to buy, launch, or build something and they're going against a titan of the traditional world, they're going to overcome that. And it's going to be done with distributed technology, teams, and more effective coordination of people. I think [ConstitutionDAO] signifies where we're going with governance and blockchain.

— Graham Novak

ConstitutionDAO2 and second chances​

Almost exactly a year later, Sotheby's has announced another copy of the U.S. constitution is going up for auction on December 13th, 2022. You can listen to episode 17 of the Juicecast to learn more about how ConstitutionDAO2 (UnumDAO) are trying to win the auction on Spotify and Apple Podcasts.

Relevant links 🔗​

🎙️ Check out the Juicecast ConstitutionDAO Retrospective Part 1 (Apple Podcasts, Spotify), Part 2 (Apple Podcasts, Spotify), and Part 3 (Apple Podcasts, Spotify)

📜 Follow ConstitutionDAO on Twitter: @ConstitutionDAO

🧃 See ConstitutionDAO's project on Juicebox: https://juicebox.money/p/constitutiondao

🐦 Follow Juicebox on Twitter: @JuiceboxETH

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

Author: matterturbulent
Date: (2022-12-04)

Synopsis​

E Pluribus Unum — Out of Many, One

15 Web3 groups (and counting) have come together to fundraise and bid on a private copy of the US Constitution going up for auction at Sotheby’s on December 13. This movement—called UnumDAO is the spiritual sequel to ConstitutionDAO, with many of the orgs being born from or inspired by the movement last year. We are utilizing the private multisig application Nucleo to obfuscate a portion of the donations to make our bid more competitive, and we plan to raise the remaining funds publicly on Juicebox. We’re prepared to show the world how far crypto has come in one year and to give our community and industry a positive signal. The goal is to start with the Constitution, and then continue acquiring important civic artifacts in order to create a “People’s Museum,” totally controlled by governance NFT holders, rotating to new locations, and educating the public about the history and innovations of democracy.

We are proud to partner with Juicebox given its status as the go-to decentralized platform for projects to raise funds in Web3. We are requesting a $150,000 USD grant from Juicebox at the initiation of the fundraise to seed it. Additionally, we want to use the holdFees flag⁽¹⁾ to enable us to refund donors in full should we lose the auction.

If bid fails then all funds become refundable, including the grant. All donors have the opportunity to reclaim funds within a 30 day window. After the 30 day window then remaining the funds get sent to the UnumDAO multisig for acquisition, curation, and care of other civic artifacts.

Motivation​

This proposal will cement the partnership between JuiceboxDAO and “ConstitutionDAO2,” while simultaneously kickstarting the fundraiser. We recognize that Juicebox plays an essential role in the ecosystem, championing the value of decentralization. Juicebox is an essential tooling in Web3 and unlocks the ability for regenerative projects to establish their governance communities. This proposal represents a middle ground between shutting off fees and leaving them as is.

Specification​

1. JuiceboxDAO to distribute $150k worth of ETH to the UnumDAO project fundraiser from the v1 JuiceboxDAO treasury in FC#37.
2. Utilization of the holdFees flag to enable full refund should UnumDAO lose the auction.
3. Vocal support from Juicebox as a partner in the movement.

Rationale​

Sotheby’s valued the Constitution copy at $20 - $30 million USD. If Juicebox fees are 2.5% and gives the project fundraiser a $150,000 grant then the fundraiser has to raise at least $6 million for Juicebox fees to exceed the initial $150,000 put in.

Risks​

If the fundraiser undershoots $6 million but still wins the Constitution in the auction then JuiceboxDAO will not receive more fees than the initial amount of the grant.

Timeline​

Within the next couple of days the fundraiser will go live and JuiceboxDAO should make the 150k donation upon initiation of the fundraiser. Should UnumDAO lose the auction we expect to do the refund based on the reasonable timeline for such activity. All donors have the opportunity to reclaim their funds within the 30 day window. Throughout the auction leading up to Dec 13 the coalition will advocate for Web3 to once again come together and buy a Constitution. Except this time we will win.

Note:

Hold fees:

By default, JBX membership fees are paid automatically when funds are distributed out of the ecosystem from a project's treasury. During funding cycles configured to hold fees, this fee amount is set aside instead of being immediately processed. Projects can get their held fees returned by adding the same amount of withdrawn funds back to their treasury. Otherwise, JuiceboxDAO or the project can process these held fees at any point to get JBX at the current rate.

This allows a project to withdraw funds and later add them back into their Juicebox treasury without incurring fees.

This applies to both distributions from the distribution limit and from the overflow allowance.

Defifa is an experimental pop-up NFT game that accompanies the 2022 FIFA World Cup. Minting started Nov 8th and will close before the first kickoff of the competition on November 21st. The game definitively ends on December 25th—7 days after the final whistle of the competition—at which point all treasury funds will be made available to those that wish to redeem their NFTs.

There are 3 novel ideas worth calling attention to that make Defifa possible:

NFT Distribution​

Over the past five months, engineering contributors at Juicebox DAO have been developing an NFT distribution mechanism that project owners can configure and attach to any of their funding cycles. With this NFT extension attached, inbound payments have the opportunity to mint a token from an ERC-721 contract if certain conditions are met. This 721 can contain any number of payment tiers, which can define their own visual and descriptive metadata, minimum contribution thresholds, max supply, a ratio of tokens to reserve for a pre-programmed beneficiary, voting weights, and other properties to ensure confidence for both the project owner and community.

Defifa uses this system to define 32 tiers corresponding to the 32 teams competing at the World Cup. All tiers are contained within the same NFT collection. Each tier has no max supply and requires a contribution of 0.022 ETH into the Defifa treasury. All contributions to this treasury qualify and must specify the desired teams from which to mint. Clients can specify if the payment’s value must be used in full towards mints — if the payment is not quantified in 0.022 ETH increments, it will revert.

Project ownership​

Project owners have the exclusive ability to configure a project’s future funding cycles. Most Juicebox projects created thus far have been owned by a person or a multisig. The Defifa project is instead owned by a contract that automates the queuing of four hard-coded funding cycles which define the game’s four phases. Funding cycles are sequential and each is bound by timestamps defined at the game’s instantiation.

The first funding cycle is the mint phase:

• Payments into the treasury are accepted and team NFTs are minted as described above.
• Redemptions are honored for a full refund of the mint price.
• Reserved tokens cannot be minted during this phase.

The second funding cycle starts at the exact time of the FIFA World Cup’s first kickoff:

• Payments are paused to prevent any future mints.
• Redemptions are paused to prevent access to the treasury’s funds.
• Reserved tokens can now be minted for each tier such that 1 of every 10 tokens belong to the Defifa Ballkids who developed the game and encourage fluid gameplay.

The third funding cycle starts at the kickoff time of the tournament’s quarterfinals:

• Transfers for all NFTs from all teams are locked and become temporarily soulbound.
• All other rules are the same from funding cycle #2.

The fourth funding cycle starts seven days after the final match is played:

• Transfers for all NFTs are unlocked.
• Payments remain paused to guarantee no new mints.
• Redemptions are reopened so that NFTs can be burned to reclaim an underlying share of the treasury. More on this in the Scorecards section below.
• This phase lasts forever.

Each phase must be queued before the current phase ends. This transaction can be sent by any player.

Artwork by gabobena.eth

Scorecards​

The game is entirely self-refereed, meaning that it does not rely on on-chain oracles to convey real world outcomes. Instead, NFT holders are solely responsible for attesting to the correct scorecard that represents what happened in real life. A “correct” scorecard is determined only by social consensus.

This version of the game justifies correctness as follows:

• There are 100,000 total points to be distributed. 20,000 points are available to each of five rounds of the FIFA tournament, divided evenly between the winner of each game in the round.

• There are 48 group stage games total, 8 round-of-16 games, 4 quarterfinal, 2 semifinal, and 1 final. This means that each group stage game is worth 416 points, each round of 16 game worth 2,500, each quarter final worth 5,000, each semi final worth 10,000, leaving the final with the remaining 20,032. The correct scorecard should represent the amount of accumulated points by each team divided by the total available 100,000 points.

• Each team has 1 vote, divided evenly between all of its NFT holders. Scorecards can be submitted by anyone at any time and voting opens during the World Cup final. During phase 4, a scorecard can be ratified once 50% of all teams have agreed on the correct treasury distribution. Once ratified, each NFT has access to the treasury along the same distribution as the scorecard. Each individual NFT can be redeemed to reclaim a proportional share of the team’s value. This is the only way to access the game’s treasury.

• Funding cycle 4 lasts forever, meaning an NFT can be redeemed (burned) at any time for its underlying ETH. It can also be collected and traded forever.

Defifa is an experiment and will work as long as it has been configured correctly, however players should participate at their own risk. The code is open source and players are encouraged to fork the framework to run similar experiments for subsequent tournament-style competitions. Boa sorte!

Artwork by Sage Kellyn

The Juicebox protocol has its eyes set on the FIFA World Cup this year. A new project called Defifa is set to launch on November 5th, and will allow players to purchase NFT flags of any of the 32 World Cup teams set to play this year.

(example of the Argentina flag NFT)

Where it gets it exciting is when the World Cup starts. From the first kick-off, all NFTs become non redeemable. The treasury that has amassed all the ETH for the NFTs will become locked, as well. As each phase of the World Cup takes place, the NFTs claim on the treasury will change proportional to their finalist ranking. Midway through the World Cup, the NFTs will also become non-transferable, meaning holders will be locked into waiting for the outcome of the games. At the end of the competition, all participants must ratify a scorecard to attest to the accurate results of the World Cup, at which point the NFTs will be come unlocked and can make their claim on the treasury. So if you purchased an NFT of a team that ended up winning, redeeming that NFT at the end of the World Cup could give you back more than you paid for it. For a short video breakdown, check out this explainer on twitter.

A protocol more flexible than an olympic gymnast​

The entire defifa.net is run on the very same protocol that ran ConstitutionDAO last year, and that is currently home to a variety of projects including, including MoonDAO and JuiceboxDAO. But for Defifa, there were some important tweaks.

The protocol has no idea who will win or lose in the world cup, and who will get knocked out. While one obvious solution is to appeal to an off-chain oracle, a much more interesting one was to have the NFT holders participate themselves. When a new game has happened, anybody can submit a scorecard which NFT holders must then vote on to ratify. Doing this allows the protocol to run more purely, but it also introduces some interesting dynamics.

A game of chance or cooperation?​

Anybody working on defifa will tell you that this is a grand experiment, the outcome of which can’t be predicted. In theory, the game should run smoothly— NFTs are minted, held, participants vote and at the end the NFTs can be redeemed against the treasury with their new (adjusted by the game’s outcomes) value. But what if that doesn’t happen?

What if some people refuse to vote, or vote in bad faith? Or what if so many people purchase the NFT of a favored team, that the claim on the treasury between all those holders is actually quite small? Statistically speaking, what is the expected value of purchasing a highly favored versus a long-shot team, and when does it make sense to trade your NFT and when doesn’t it? The beauty is that nobody knows, and those that play will all find out in real-time.

Where to learn more?​

Head over to defifa.net to learn some of the details of each game phase and to see the NFTs offered. To hear a short podcast episode with the defifa.net creator, jango, head on over to spotify. And if you’d just like to hang out and say hi, come to the Juicebox discord and feel free to ask any questions there.

MoonDAO is a worldwide collective of people working together to decentralize access to space research and exploration. To learn more about how MoonDAO is uniting all earthlings to have a say in how the Moon and other planetery systems should be governed, check out this deep dive on the JB blog as well as episode 7 of the Juicecast with co-founders Pablo and Kori on Spotify and Apple Podcasts.

In this article, we’ll cover how MoonDAO used Juicebox to fundraise ~ $8.3 million (2600+ ETH) to buy two Blue Origin tickets.

Banner from MoonDAO introduction article on Pablo’s Mirror

Case Study: MoonDAO sends someone to space 🌌​

The second phase of MoonDAO’s roadmap was to send a person to space in 2022. To achieve that goal, they created a Juicebox project in December 2021 to start raising funds to bootstrap the community wallet governed by the DAO and buy tickets for two flights on Blue Origin.

Since achieving their goal, MoonDAO is no longer minting $MOONEY tokens and has stopped fundraising. This article will cover how the project was initially configured for their fundraise. On the Funding Cycle panel on the left, we can look in the History tab to see past funding cycle configurations. This article will break down the settings from Funding cycle #1.

Funding cycle history for MoonDAO on Juicebox

In the Funding distribution panel, we can see that 100% of funds withdrawn were distributed to the MoonDAO Treasury (0xce…b2c9), a multi-sig Safe (formerly Gnosis Safe) wallet.

Funding distribution for MoonDAO on Juicebox

Understanding MoonDAO’s project configuration 🔎​

Taking a closer look at the configuration settings for Funding cycle #1, we can see that the following settings were used for their fundraise:

• Target is set to No target which means that there is no predefined funding target (e.g. $1 million) and project contributors will not be able to redeem against the treasury when/if it surpasses that amount (”overflow”). Please note that Target is now Distribution Limit for v2/v3 projects on Juicebox.
• With Duration set to 30 days, the project owner can start a new funding cycle with new configuration settings every 30 days. This gives a sense of security to project contributors knowing that the project can only be reconfigured once every 30 days.
• Discount Rate is set to 0% which means that token issuance will stay the same after each funding cycle. In other words, there is no added incentive for early contributors.
• Redemption Rate is set to 100% which means that tokens can be redeemed against the overflow of the treasury for equal value at any time. In other words, there is no added incentive for redeeming later vs. earlier. Please note that since this project was set to No Target, the treasury will never be in overflow and contributors will not be able to redeem against the treasury.
• Contributor rate is set to 500,000 + 500,000 reserved, meaning that when someone contributes 1 ETH to the project, 1,000,000 $MOONEY tokens are minted: 500,000 for the project contributor and 500,000 for the address(es) on the Reserved Token Allocation list.
• Reserved MOONEY is set to 50%, which dictates the percentage of newly minted tokens set aside for the address(es) on the Reserved Token Allocation list.
• Token minting is disabled which means that the project owner cannot mint tokens at any time. Only project contributions will mint new $MOONEY tokens. This gives project contributors confidence that the token supply cannot be inflated by the project owners.
• No reconfiguration strategy was set, meaning that the project can be reconfigured and take effect immediately after the current cycle ends. This presents some risk to project contributors as the upcoming funding cycle parameters can be changed with very little notice. Since MoonDAO’s project has a Duration set to 30 days, any reconfiguration would take effect once the current cycle ends.

Funding cycle #1 configuration for MoonDAO on Juicebox

Reserved token allocation 🪙​

There is currently no Reserved token allocation since MoonDAO has stopped fundraising. If we look back at their configuration for Funding cycle #1, we can see that 50% of all tokens were reserved. In MoonDAO’s case, these tokens were set aside for a community wallet governed by the DAO for future use like rewarding contributors.

Reserved $MOONEY allocation from MoonDAO’s funding cycle #1 configuration

Relevant links 🔗​

🎙️ Listen to Kori and Pablo tell the story of MoonDAO on episode 7 of the Juicecast on Spotify and Apple Podcasts

🌜 Follow MoonDAO on Twitter: @OfficialMoonDAO 

💬 Join MoonDAO’s Discord: https://discord.gg/5nAu7K9aES

🐦 Follow Juicebox on Twitter: @JuiceboxETH

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