Title
Inverter
Description
Inverter Network is inspired by the Operations Portals that are being used to fund over 1.2 trillion USD for development projects across the globe by organizations like United Nations, World Bank, and European Union. Data Operating Systems of the World Bank, EU, and UN are called Operations Portal. They are used to increase the effectiveness of development initiatives by creating a shared platform for all involved stakeholders to coordinate a continuous process of funding, evaluation, and accountability for supported projects. It is a searchable database that contains profiles of every development project since its operations began. Each profile provides key project information such as development processes, finances, and approval dates as well as access to project reports and lists of project records.
Our aim is to interconnect the novel technologies of web3 to the grounded funding infrastructures of traditional organizations to improve access to funding and inspire distributed ownership for builders and funders of the next generation of the internet regardless of their backgrounds.
Simply said Inverter is an ‘Operations Portal’ for organizations to manage their grants programs, funding operations, and treasuries. Funders have the ability to fund internal workstreams, give grants and co-fund projects with other organizations with other treasury operations on a single platform. Inverter also has a built-in accountability mechanism that allows funders to withdraw funds if they find the proof of completion documents unsatisfactory “and provide continuous feedback.
For projects and contributors, Inverter is a one-stop-shop for contributors to apply for funds, manage funds and maintain feedback loops with funders and community stakeholders. It allows contributors to apply to multiple organizations at once for funding using a single proposal instead of a separate proposal for each organization, and have the ability to manage their funds, communicate with the funders, and document their progress on a single platform.
Inverter Product MAIN Features TL DR
- (2022)Initial Release:
- Milestone-based Long term project/workstream funding and joint funding with reduced overhead
- Transparency around funded projects for communities
- Organizations can manage and track their incoming proposals and funded proposals from one organizational page
- Teams can have one common proposal that can be used for applying to, streaming funding from, maintaining accountability with, and receiving continuous feedback from many organizations.
- Ability to withdraw funding from a project
- (2023) Funder Treasury accounts that can run yield earning and diversification strategies with continuous payment abilities
- (2023) On-chain milestone-based investment based on KPIs and Due Diligence
- (2023) Multi-token funding with fluid funding governance
- (2023) Tax-deductible donations
- (2023) On-chain organization(DAO, Association, etc.) establishment
- (2023) Community Conviction Signaling
Manifesto/Vision
Inverter network aims to provide the lacking infrastructure for co-funding long-term collaborative initiatives such as open source work, research proposals, joint ventures, NGOs, startups, and local community initiatives. It does this by reducing the administrative burden and increasing accountability and transparency for both funders and contributor teams. We also aim to connect traditional organizations with the Web3 ecosystem and enable funders to impact more communities by supporting them in realizing their potential.
Problem
The web3 space lacks a funding infrastructure that enables organizations to manage their grant/funding process with increased accountability and transparency and decreased administrative efforts.
Solution
The Inverter is designed to act as this lacking infrastructure.
- How are we bringing transparency to the grant process?
Inverter provides a proposal dashboard for funders and their communities to be able to see important information about proposals in one clear reference place.
- Who is already funding this proposal
- Who is contributing to this proposal
- Public discussions about the proposal in community forums
- The proposal’s target funding goal
- Established Milestones and Deliverables
- Proof of Deliverable Completion reports
- Feedbacks on Proof of Deliverable Completion reports from funding
By having access to all that information without navigating through different governance mediums and communication channels allow a more transparent and better decision making process for funders.
- How are we bringing accountability to the funding process?
Inverter brings accountability to the funding process by its built in accountability mechanism that allows the funders to withdraw their funds if they are not satisfied with the progress of the project, such as the deliverables are not met and the milestones are not complete. Inverter adopts an optimistic approval process for the completion of the milestones where work is considered satisfactory until a funder objects and decides to withdraw the funds. If a project isn’t capable of producing a satisfactory Proof of Deliverable Completion report, funders can withdraw their funds (except their funding amount towards milestone 1, which is treated as a guaranteed payment for the project).
- How are we reducing the administrative efforts in the funding process?
Inverter allows anyone to create a proposal open for co-funding and collaboration from an infinite number of entities. We provide an easy-to-use platform for the proposal owners to manage their collected funds from various organizations and stream them to a group of contributors. With the Inverter, contributors don’t have to track payment schemes from different entities; Inverter allows proposal owners to collect all the funds received and create a unique stream of funds for every contributor working on the project according to the customizable settings of the proposal.
Also our platform helps projects to save time and headaches of creating multiple proposals for multiple organizations. With Inverter, project teams will have one proposal that can be used for many organizations.
Inverter enables organizations such as MetaCartelDAO to manage the projects that they are funding on a single platform. Funders are able to communicate with the proposal owners/projects, give funding, receive proposals and, send notifications to their subscribers. Simply said everything related to the grants program is handled on a single platform with much ease.
Validation
- We have received grants from TEC, PrimeDAO, and AAVE, Ceramic.
- Currently, we have 15 soft committed organizations to become funders during our beta launch. We have +10 soft committed projects to create a proposal on the Inverter dApp. We are hoping to register the MetaCartelDAO to Inverter as a funder and establish a long-standing partnership.
- We have already built feedback loops with our initial set of partners that have collaborated with us to address an organic demand for funding infrastructure. This includes organizations such as BlockScience, PrimeDAO, TEC, TE Academy, Climate Collective, Celo Network, and Aave.
- We are currently finalizing our roadmap and technical requirements to be able to successfully complete our first real-world project, which is going to be facilitating funding for the Tanzanian Startup Ecosystem.
Progress
Phase I: MVP Development (Q4 2022)
- Defining core feature set (complete)
- Finalize MVP scope (complete)
- Shape core feature set (complete
- user journeys
- Hifi mockups
- prepare high-level solution designs for frontend
- HiFi UI designs (complete)
- Development Kickoff (complete)
- Smart Contract development (ongoing)
- Landing Page development (ongoing)
- Proposal creation wizard implementation (ongoing)
- Data management structure to handle: (ongoing)
- Users
- Proposals
- Notifications
- My Account page implementation (not started)
- Discovery page implementation (not started)
- Frontend backend integration (not started)
- Regression tests (not started)
Closed Beta (Q1 2023)
- Bugfix and Improvements
- Test Coverage
Phase II: Smart Contract Audit & Second Feature Set Implementation (Q4 2022- Q1 2023)
Differentiation
| Inverter | Gitcoin | Questbook | Giveth | Colony | Utopia Labs | |
|---|---|---|---|---|---|---|
| Transparent Project Funding | Yes | Yes | Yes | Yes | Yes | Yes |
| Internal Workstream Funding | Yes | No | No | Yes | Yes | Yes |
| Funder Directory | Yes | Yes | Yes | No | No | No |
| Feedback | Yes | Yes | Yes | Yes | No | No |
| Crowdfunding | Yes | Yes | No | Yes | No | No |
| Common-App | Yes | No | No | No | No | No |
| Co-funding | Yes | No | No | No | No | No |
| Accountbility Mechanisim | Yes | No | No | No | No | No |
Team
Alp Ergin: Head of Strategy at Inverter
Head of Partnership & BD @PrimeDAO
https://www.linkedin.com/in/alp-ergin-401a9883/
Ataberk Casur: Head of Business Development & Mechanism Design
Ex-Steward at PrimeDAO; Researcher and Designer at Curve Labs
https://www.linkedin.com/in/ataberk-casur-136513196/
Carlo Mallone: Head of Product at Inverter
Ex-CTO of Molecule
https://www.linkedin.com/in/carlomallone/?originalSubdomain=it
Baran Canbaloglu: Product Owner & Solutions Architect at Inverter
Solution Designer at Vodafone
https://www.linkedin.com/in/barancanbaloglu/
Marvin Kruse: Head of Backend Development at Inverter
CEO and Founder at Byterocket; developed with Kollektivo and PrimeDAO
https://www.linkedin.com/in/marvinkruse/?locale=en_US
Elif Nisa Polat: Lead Program Manager at Inverter
Consultant at World Bank
https://www.linkedin.com/in/elif-nisa-polat-b122b6141/
Lea Filipo: Head of Design at Inverter
DAOStack/Genesis, Gnosis DAO, Glassnode
Grant Request $
10K USD
Funds
This grant will be used to fund a portion of our product development and auditing. We want to fund a portion of the back-end development and the completion of the UX/UI design. Being able to fund these milestones will put us one step closer to the completion of our MVP and eventually launching the closed-beta testing by end of January.
Milestones:
Milestone #1: Finalize Smart Contract Development
- Finalize hi-fi product design
- Have the MetaCartelDAO do a product review
Milestone #2: Register the MetaCartel DAO to the Inverter as funders
- Establish a feedback loop with the MetaCartel Team
- Organize a community AMA with the MetaCartel Community about the Inverter and the Inverter Team
- User interview with the MetaCartelDAO Team
- MetaCartelDAO to participate in the Inverter Beta Testing
- Have 50 new contributors subscribe to the MetaCartelDAO on Inverter
Help
We would love your feedback on our project and would love to establish a feedback loop with the MetaCartel DAO grants team to understand the needs of our future funders and accommodate them the best way possible.
Additional Resources
Latest blog piece on Inverter: The birth of Inverter Network, Team and Feature Updates- Part 2 — Inverter Network
Previous blog piece on Inverter: Proposal Inverter-The next stage in DAO2DAO Coordination, Part 1 — Inverter Network
Initial Research Piece on Inverter (Proposal Inverter) by Blockscience and Curve Labs Exploring DAO2DAO Collaboration Mechanisms | by BlockScience | PrimeDAO | Medium
Gitbook: Introduction to Inverter - Inverter Network-Docs (WIP)
Twitter: @inverternetwork