Crowdfund your next big innovative idea
Is Starbase similar to Kickstarter? What’s the difference?
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.
Why would innovative projects use Starbase for fundraising?
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.
Is Starbase designed only to fundraisers and investors?
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!
What will be the process to start Value-creation (Fundraising) on Starbase?
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 our profile is verified, what should we do?
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.
What kind of tokens can I issue?
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 our token sale request is reviewed, what should we do?
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.
When can we start the public sale after the tokens are reviewed?
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.
How long does it take start sales after the public sale review?
It takes between 3 days to 2 weeks to start your sales, we will also support your marketing campaign through our platform.
What will be Starbase Platform’s fees?
Fees will depend on the service Starbase provides for fundraisers (innovative projects), but they will be generally between 5 ~ 10 %. Starbase’s services include global token creation support, tax & legal support
What can we do during our campaign?
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.
What if our company acquired or IPO’d after fundraising through Starbase?
All funding is returned to the purchasers, but you can try again. Stay hungry, never give up.
What if the fundraising campaign is successfull?
Congratulations! You should celebrate and announce the funding campaing success on your website and social media! You should also announce your project’s schedule.
Can we do further fundraising through Starbase or stock-fundraise after the initial Starbase fundraising campaign?
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.
What if our company M&A’d or IPO’d after fundraising through Starbase ?
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.
Are there any projects that did both token sale and stock fundraise?
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
How much we can raise through token sales?
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.
Can we make multiple goals for crowdfunding?
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.
What should we do during development?
You should update your project development & marketing update at least weekly.
What if our project failed after the funding tokens are spent?
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 failed, can the token holders sell the tokens purchased?
If the project is either a failure or a success, every token purchaser can sell tokens purchased on crypto currency markets in the world
How do we prepare for blockchain token related legal issues?
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.