FAQ

By using Starbase, innovative projects can hire or work with supporters investor-like minds. They invest their skills and time, and get the project’s tokens. It’s still very difficult to share project’s “stocks” or “options” globally at low costs. But in the blockchain ecosystem that’s already happening. Starbase makew it easy to create those kinds of incentives. For instance, you can encourage your supporters by giving a certain amount of coins to people who share your social media posts. Here’s Iconomi example about token based crowdsourcing, they share their tokens and have worked and made a successful funding campaign raising more than $10M https://medium.com/iconominet/iconomi-ico-bounty-distribution-71e763cf8346#.2rcmfhoum

In kickstarter, when you support a project you get a product or a thank you. In a lendingclub, you get interest. In Seedrs, or CrowdCube, you get shares of unlisted companies. In Starbase, you will get global tokens on blockchain. Starbase will have a multisignature web wallet functionality called STARAccount which can be held by users on the platform. You can deposit BTC and ETH on STARAccount

By using Starbase, people unfamiliar with the blockchain technology can easily issue blockchain tokens and pay or sell them. And STAR holders also have their issued tokens’ as incentive, and Starbase users accept innovative projects token payments. Starbase wants to be the place to launch more rockets to the "Internet of Value" universe with many STAR holders and supporters

Not only fundraisers and investors can benefit from this platform, but also engineers, designers, marketers and anyone who’s already part of the blockchain world can support your innovative project with their money or work to earn your project’s tokens. Also, startup projects in development or prototype stage usually don’t have a large amount of cash, so Starbase can help all of them!

New projects will have to through a verification proccess before being listed on Starbase. After you register your profile at Starbase, our team will verify your identity and do a background check

After verification, you need to specify what kind of tokens you would like to issue. This is what we call token creation phase. You will also need to prepare your service’s technical documentation, business plan, and a short video for your business presentation. If you don’t have a video yet, Starbase can arrange a crowdfunding solution with our partner design company.

There are 3 basic types of properties that can be attached to new tokens, and you can build your own custom token from these. Starbase provides “adaptable” token templates. These tokens can be 1. Consumable 2. Rewardable 3. Inflational. You can combine these properties when you submit your token issuance request. Starbase’s team provides the technical support neccessary for you to fill in the “Token templates” to creat the tokens you will use to fundraise and gather your team.

After your token is reviewed, you can issue and send the tokens as a reward to your early purchasers and contributors. After that proccess, you can start your ICO.

After you have enough early purchasers and contributors, you can submit us a request to start your public token sale (what we call “crowdsale”) and we will review it. We strongly recommend you to start your marketing campaign before the public crowdsale starts. It’s the same as Kickstarer, IndieGoGo or other crowdfunding services

It takes between 3 days to 2 weeks to start your sales, we will also support your marketing campaign through our platform.

You can send project-updates to token purchasers and interested users (followers) via email newsletters, social media, and you can update your profile on Starbase’s website.

All funding is returned to the purchasers, but you can try again. Stay hungry, never give up.

Congratulations! You should celebrate and announce the funding campaing success on your website and social media! You should also announce your project’s schedule.

Yes you can fundraise through Starbase or traditional stock-fundraise means, because the tokens on blockchain are totally separated from your company’s stocks. To do your VC or to search for angel funding, you need to clearly state so for the platform and separate your company’s profit and revenue flow from the revenue of the tokens you issued.

The digital tokens you issued and the stocks of your company are totally independent from each other. So M&As or IPOs have no effects on the project’s token holders.

Yes, for example Factom raised $4.2M from Draper by selling their company’ stocks around Oct 6th, 2016 http://www.reuters.com/article/us-factom-blockchain-draper-idUSKCN1251RG and also raised funds by selling Factoid’s tokens which is Factom’s software license. Because the tokens on blockchain and traditional company stocks are separated as London Stock exchange said, there is no conflict between these two operations. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/FFWD/12538849.html

You can set your maximum cap for you token campaign and we strongly recommend you to do so. You also need to set a minimum fundraising target, which will be reviewed by our team, if we think your goals are not enough to finance the project, Starbase’s team may reject your project.

Yes, you can set multiple goals and announce them as reference to your potential token purchasers. Doing so helps to prepare for uncertainties concerning the public funding amounts

You should update your project development & marketing update at least weekly.

You need to submit a failure report to the Starbase team, and we will review it. If the failure reason is reasonable, we can change your project status to failed. You don’t need to refund the value raised on our platform, but if you were developing a software, you need to make everything developed open source, and if it’s a product, you need to sell everything that was manufactured

If the project is either a failure or a success, every token purchaser can sell tokens purchased on crypto currency markets in the world

Blockchain token crowdfunding is a fairly new and frontier environment, but we can arrange most of your legal necessities with our partner law firm with the template documents we provide. After Starbase platform launches, when you submit the campaign and it is approved, you will receive the legal template documents which you can use.

Starbase provides crowdfunding & crowdsourcing functionality with built-in web wallet. The wallet can be used with Bitcoin and Ethereum. Through the Starbase platform, you can join and work in very innovative projects, and earn Bitcoin, Ethereum, and other blockchain tokens. The Innovative Projects’ tokens are shared incentives between you and all the other token holders of the project. If the project becomes successful, then you have the possibility to earn more, because the token prices will go up.

Upwork and Freelancer are some of the biggest, and most stable crowdsourcing platforms, but most of the projects there are not visionary or global. And you usually can’t expect much return from working there. In addition to that, workers can not earn shared incentives from the employer. In the current world economy, shared incentives are similar to stocks. By using the Starbase platform, any workers (whom we refer to as “supporters”) can receive shared incentives from the employers (and Innovative Projects). Supporters become partners of the project, and if the project becomes successful, they gain more. Will Starbase be used for visionary, global and innovative projects? Our answer is “Yes”, because most of the visionary and big projects require a lot of money and a lot of stake holders, which makes Starbase an optimal choice for their fundraiser/team-recruiting.

There are 3 ways of profiting by earning blockchain tokens. 1. Sell project tokens on crypto-currency market. > here you can see list of tokens on blockchain and which exchanges trade them: http://coinmarketcap.com. 2. Receive regular rewards from the Innovative Project. 3. Use the project token in exchange for the project’s services or products.

Yes. You are not required to use Starbase’s web wallet, and you can withdraw what you earn on the platform to other external wallets. You should carefully choose and use these wallets on your own responsibility. For Ethereum, web: http://jaxx.io/ mobile: http://token.im/ For Ethereum token, web: https://www.myetherwallet.com/ mobile: http://token.im/ For Bitcoin, web: https://copay.io/ mobile: https://breadwallet.com/ There are many other wallets services avaliable on the internet

You can instantly get payment because all payments will be made via the blockchain tokens. A withdrawal generally takes from 30 seconds to 30 minutes on the Starbase platform.

Bitcoin, Ether, or Ethereum tokens issued by the Innovative Projects.

You can check Starbase’s project details pages for updates. Of course the official website of the project keep announcements up to date and Starbase team strongly recommends them to do to build a more trustable relationship

Starbase platform provides a forum for servicers who want to actively communicate with investors, they might not be able to spend a lot of time on the forums, but all project’s contacts will be displayed on Starbase.

You will be able to get tax remediation form from us after Starbase platform launch. But you should bear the responsibility to determine if the investment or the potential appreciation or depreciation in the value of Bitcoin, Ether, tokens on Blockchain over time has tax implications.

Starbase charges fees only from fundraisers and crowdsourcers, investors and contributors are free of fees for the moment.

Startups and new projects may fail, you have to be aware of the risks of investing in the projetcs, it is possible for the businesses in which you invest to return less than you invested or nothing at all because of expected product/service does not launch. We require every project to report at a daily or weekly basis, and require that they mantain active communication through forums, mail magazine, community chat, or other media. If the project can not finish the product/service with the raied funds, they can extend the fundraise. After this, if they are still unable to deliver the product/service, they should make all tokens transferrable and announce the project’s failure

Yes, this is radically different from traditional equity or debt finance. You can sell your bought project tokens at 3rd party crypto currency exchanges in the world. There are more than 100 crypto currency exchanges which trade different tokens and currencies on various blockchains. Starbase helps users to issue tokens on Ethereum blockchain as standard type tokens which can can be accepted on most crypto currency exchanges. By using Ethereum tokens, core teams can gain more liquidity, more security and more synergetic value.