We are proud to announce the FEX team’s new nonprofit product We are proud to announce the FEX team’s new nonprofit product DonationCash, which aims to leverage Cashtoken and Native Introspection Opcodes to achieve a better user experience than FlipStarter.
FlipStarter has played a very positive and critical role in the development history of Bitcoin Cash, and almost all major projects have used it to raise funds. However, because FlipStarter leverages the old anyone-can-pay functionality, it has a number of limitations, including at least:
- Fundraisers are required to rent a cloud server to run
- Donors must use the ElectronCash wallet and must install a plug-in for ElectronCash
- Information about the project and the donation process is kept on the cloud server, and once the server is lost, these details disappear
- The donation amount cannot be arbitrarily specified, you need to drag a progress bar to set it
- You can only set a low limit (Soft Cap), not a high limit (Hard Cap).
- If the fundraising is unsuccessful, donors cannot be automatically refunded. Instead they are required to use the ElectronCash plugin to retrieve their funds
Taking advantages of the capabilities added by BCH upgrades since 2021, DonationCash will make up for the above disadvantages:
- All the information and fundraising logic is kept on the BCH chain, and fundraisers do not need to rent a dedicated server
- All donors need to do is go through the DonationCash web page and they can choose to withdraw from CeFi or make the payment with any BCH wallet.
- The information about the project and the donation process are saved on chain and never lost. Donors also receive an NFT as a permanent souvenir.
- Donors can specify any amount they want, as long as it is larger than the minimum amount set by the fundraiser
- Fundraisers can set both a minimum and a maximum target amount
- If the fundraising is unsuccessful, anyone can initiate transactions to refund the donor without having to pay the miner fee themselves
In the meantime, like FlipStarter, DonationCash will always remain non-custodial, free and permissionless. The fundraiser will receive 100% of the donated fund, and the FEX team will not charge any fee. At the same time, the FEX team does not do any background checks or endorsements for fundraisers, and it is up to you to determine for yourself whether the fundraiser is honest and capable of delivering the promised items.
At present, DonationCash has completed the first stage of development and is a complete product that can serve the fundraising of community projects. First, we decided to use it to raise some money for itself, for open source code and subsequent maintenance upgrades. Please note that this fundraising is not to complete its code, which is now already completed and you can see it here.
After raising the target funds, we will open-source all of the source code of DonationCash, including the Cashscript code for covenants and the Javascript code for the web front end. We hope that this code will serve as a reference example for developers to better understand and use Cashscript’s latest features, especially those related to Cashtoken and Native Introspection Opcodes.
The funds raised here will also be used for the future upgrade of DonationCash, we will add new functions and optimize the interface according to the needs of the community. The funds will not be used for any profitable projects developed by the FEX team.
We appreciate the community’s support for FEX team all the time, and hope that DonationCash can play a good role in promoting the future development of BCH., which aims to leverage Cashtoken and Native Introspection Opcodes to achieve a better user experience than FlipStarter.
FlipStarter has played a very positive and critical role in the development history of Bitcoin Cash, and almost all major projects have used it to raise funds. However, because FlipStarter leverages the old anyone-can-pay functionality, it has a number of limitations, including at least:
- Fundraisers are required to rent a cloud server to run
- Donors must use the ElectronCash wallet and must install a plug-in for ElectronCash
- Information about the project and the donation process is kept on the cloud server, and once the server is lost, these details disappear
- The donation amount cannot be arbitrarily specified, you need to drag a progress bar to set it
- You can only set a low limit (Soft Cap), not a high limit (Hard Cap).
- If the fundraising is unsuccessful, donors cannot be automatically refunded. Instead they are required to use the ElectronCash plugin to retrieve their funds
Taking advantages of the capabilities added by BCH upgrades since 2021, DonationCash will make up for the above disadvantages:
- All the information and fundraising logic is kept on the BCH chain, and fundraisers do not need to rent a dedicated server
- All donors need to do is go through the DonationCash web page and they can choose to withdraw from CeFi or make the payment with any BCH wallet.
- The information about the project and the donation process are saved on chain and never lost. Donors also receive an NFT as a permanent souvenir.
- Donors can specify any amount they want, as long as it is larger than the minimum amount set by the fundraiser
- Fundraisers can set both a minimum and a maximum target amount
- If the fundraising is unsuccessful, anyone can initiate transactions to refund the donor without having to pay the miner fee themselves
In the meantime, like FlipStarter, DonationCash will always remain non-custodial, free and permissionless. The fundraiser will receive 100% of the donated fund, and the FEX team will not charge any fee. At the same time, the FEX team does not do any background checks or endorsements for fundraisers, and it is up to you to determine for yourself whether the fundraiser is honest and capable of delivering the promised items.
At present, DonationCash has completed the first stage of development and is a complete product that can serve the fundraising of community projects. First, we decided to use it to raise some money for itself, for open source code and subsequent maintenance upgrades. Please note that this fundraising is not to complete its code, which is now already completed and you can see it here.
After raising the target funds, we will open-source all of the source code of DonationCash, including the Cashscript code for covenants and the Javascript code for the web front end. We hope that this code will serve as a reference example for developers to better understand and use Cashscript’s latest features, especially those related to Cashtoken and Native Introspection Opcodes.
The funds raised here will also be used for the future upgrade of DonationCash, we will add new functions and optimize the interface according to the needs of the community. The funds will not be used for any profitable projects developed by the FEX team.
We appreciate the community’s support for FEX team all the time, and hope that DonationCash can play a good role in promoting the future development of BCH.
Also, DonationCash itself is the first fundraising campaign on this site. Our goal is to raise at least 30 BCH, starting at block height 823224 and ending at 827544.
The campaign page is https://donation.cash/159fb5440cb2d38019bb41f2758621417659ac8d0a4c21e45ada3ab22a7587c2