Angor - Decentralized Crowdfunding
What is Angor?
Angor is a decentralized crowdfunding platform designed exclusively for Bitcoin. It enables founders to raise capital directly from investors without intermediaries, using the power of Bitcoin and decentralized protocols like Nostr. Angor provides a secure, transparent, and efficient way to fund innovative projects while giving investors control over their contributions.
Key Features of Angor
1. Bitcoin-Only Investments
Angor focuses solely on Bitcoin for all transactions. This ensures that all funding activities are conducted in a secure, decentralized, and universally recognized cryptocurrency. By using Bitcoin, Angor eliminates the complexities and risks associated with traditional fiat currencies.
2. Decentralized Infrastructure
Angor operates on a fully decentralized infrastructure. There are no central servers or intermediaries managing the transactions. Instead, Angor utilizes the Bitcoin network for all financial transactions and Nostr for storing and managing project metadata. This approach ensures that Angor is resilient, censorship-resistant, and open to anyone worldwide.
3. Staged Funding with Fund Recovery
One of Angor’s unique features is its staged funding model. Funds are released to project founders in stages, based on predetermined milestones and timelines. This provides transparency and ensures that funds are only released as the project progresses. Additionally, investors have the ability to withdraw any unspent funds at any time, providing an extra layer of security and flexibility.
4. Taproot-Enabled Security and Privacy
Angor leverages the latest advancements in Bitcoin technology, including the Taproot update, to enhance security and privacy. Taproot allows for conditional spending and multisig transactions, providing robust protection against fraud and unauthorized access. Nostr, a decentralized communication protocol, ensures private and secure interactions between founders and investors.
How Angor Works: Step-by-Step
1. Project Creation by Founders
Founders begin by creating a project on the Angor platform. This involves providing essential details such as:
- Project Title and Description: A clear overview of what the project aims to achieve.
- Funding Target: The total amount of Bitcoin the founder seeks to raise.
- Project Duration: The overall timeline for the project.
- Staged Funding Plan: A breakdown of the project into specific milestones, each with a corresponding percentage of the total funds to be released.
- Token Rewards (Optional): Any reward tokens that will be distributed to investors as incentives.
2. Browsing and Investing by Investors
Investors can browse through a list of available projects on the Angor platform. Each project is presented with its description, funding target, and staged funding plan, allowing investors to make informed decisions. Once an investor selects a project to support, they commit Bitcoin to the project. This Bitcoin is then held in a secure, timelocked contract on the Bitcoin network.
3. Timelocked and Staged Fund Release
As the project progresses, funds are released to the founder according to the pre-defined milestones and timelines. This staged release ensures that founders remain motivated to meet their project goals and provides investors with confidence that their funds are being used appropriately. Each stage completion triggers the release of the corresponding percentage of the total funds.
4. Investor Control and Fund Recovery
One of the most powerful features of Angor is the ability for investors to withdraw any unspent funds at any time during the project. This provides flexibility and reduces financial risk, allowing investors to reclaim their Bitcoin if they are unsatisfied with the project’s progress or if they simply need access to their funds. The recovery process is designed to be smooth and typically involves a short waiting period to avoid excessive funding volatility for founders.
5. Decentralized Communication via Nostr
Angor integrates Nostr, a decentralized communication protocol, to facilitate direct and secure interactions between founders and investors. This communication channel is essential for keeping investors informed about project updates, milestone completions, and any changes in the project plan. Nostr ensures that all communications are private, secure, and resistant to censorship, enhancing trust and transparency on the platform.
6. Project Completion and Final Settlement
Upon successful completion of all project milestones, the remaining funds are fully released to the founder, and any final token rewards are distributed to the investors. If the project is terminated early or if an investor decides to withdraw their funds, the remaining Bitcoin is returned to the investors according to the Angor protocol.
Benefits of Using Angor
1. Enhanced Security
Angor uses Bitcoin’s blockchain technology and Taproot’s advanced security features to provide unmatched security for all transactions. Investors can trust that their funds are safe, and founders can be confident that their projects are protected from malicious actors.
2. Transparent and Decentralized
Angor’s decentralized nature ensures full transparency in all transactions. Investors can monitor the progress of their investments in real-time, while founders can build trust by providing regular updates. The decentralized infrastructure eliminates the need for central authorities, reducing the risk of censorship and manipulation.
3. Flexibility and Control for Investors
Angor’s staged funding model and fund recovery feature provide investors with greater control over their investments. This flexibility reduces financial risk and encourages a more engaged and active investor community.
4. Aligned Interests Between Founders and Investors
By releasing funds in stages based on project milestones, Angor ensures that the interests of founders and investors are closely aligned. Founders are incentivized to deliver on their promises, while investors can feel confident that their funds are being used effectively.
5. Community-Driven Innovation
Angor is an open-source project, inviting contributions from developers, designers, and enthusiasts. This community-driven approach fosters innovation and ensures that the platform continuously evolves to meet the needs of its users.
Getting Started with Angor
To start using Angor, visit our GitHub repository where you can find the full source code, documentation, and installation instructions. Whether you are a founder looking to raise funds or an investor seeking new opportunities, Angor offers a powerful and secure platform for decentralized crowdfunding.
Community and Support
Angor is supported by a vibrant community of developers and users. Join our community discussions on GitHub, or reach out to us directly if you have any questions or need support. We welcome contributions and feedback to help improve the platform.
Download Angor
Ready to start your journey with Angor? Download the Angor software from our releases page and begin exploring the future of decentralized crowdfunding today.
Last updated: August 31, 2024