Founders FAQ
What is Angor, and how can it help me as a founder?
Angor is a decentralized crowdfunding protocol that offers secure funding channels for projects. It helps founders attract serious backers by guaranteeing fund security, which fosters trust among investors.
How do I create a project on Angor?
To create a project:
- Register the project through Angor App.
- Define milestones and funding goals.
- Use Angor Hub to update investors and engage with the community.
How does Angor ensure fund security for investors?
Angor implements robust security through Bitcoin smart contracts with multiple safeguards:
- Milestone-based Fund Locking: Funds are securely locked and only released upon milestone completion.
- Direct Access Control: Only investor and founder cryptographic keys can authorize fund movements, eliminating third-party risks.
- Exit Protection: Investors maintain the ability to withdraw unspent funds through a secure exit mechanism.
- Trustless Architecture: The entire process operates on Bitcoin’s secure network without intermediaries or centralized control.
This comprehensive security framework creates a trustless environment that protects both investors and founders throughout the funding lifecycle.
What happens if my project doesn’t reach full funding?
If funding goals are not met:
- You can co-sign an exit transaction to return unspent funds to investors.
- Alternatively, the penalty process allows unspent Bitcoin to revert to investors securely.
What are the key advantages of using Angor as a founder?
- Increased trust: Secure funding attracts serious investors.
- Transparency: Updates through Nostr keep investors informed.
- Decentralization: No intermediaries or backend systems to compromise your project.
How do I communicate with my investors?
Angor uses Nostr for direct communication. You can share updates, milestones, and progress reports in real-time via Nostr relays.
What currency will I receive from investors?
All funding on Angor is conducted using Bitcoin.
Can I use Angor for any type of project?
Yes, Angor is suitable for a variety of crowdfunding projects. However, projects that benefit from transparency and milestone-based funding are ideal.
Do I need permission to use Angor?
No. Angor is permissionless and censorship-resistant. You can launch and manage your project without requiring approvals from any central authority.
What happens if an investor exits my project?
If an investor exits, their Bitcoin becomes locked for a predefined penalty period. This ensures that funds allocated for milestones remain secure until the next step.