Inverter dApp 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. 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. It is a one-stop-shop for contributors to apply for funds, manage funds and maintain feedback loops with funders and community stakeholders. 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

Here is the problem we want to address

The web3 space and the ENS ecosystem itself lack an infrastructure that increases accountability and transparency; and decreases administrative effort for long-term funding initiatives. There are many entities in the web3 ecosystem looking for opportunities to collaborate such as DAOs, protocols, research groups, and skilled individuals. Teams often must seek consensus from all the funders at every work cycle to continue the work, jump through the hoops of a governance process of approval, and then manage payments from different funders with different tokens. In the status quo of collaborative funding in organizations, contributors often have to contend with a plethora of differences in DAO payment schemes - networks, tokens, paperwork, and pay periods. Thus, contributors spend more time on administrative work and less time on building. Currently, there isn’t an infrastructure that allows the coordination, collaboration, and co-funding of these entities to happen. Including Optimism, many organizations operate their grant programs on their governance forums.

Inverter is built to provide the lacking infrastructure for the funding of long-term collaborative initiatives such as joint ventures, open-source work, or research proposals. Inverter will allow funders to manage their funding applications, track funded proposals and interact with its community on a single platform. Along with that Inverter also enables multiple entities to co-fund a project.

Here is how the Inverter help solves these issues:

Inverter offers accountability to long-term funding ventures by offering milestone-based funding. Inverter requires project teams to specify milestones and deliverables. To access funding, the working team is expected to provide proof of work documents at the end of each milestone duration. By default, the proof of work document is perceived as satisfactory and triggers the streaming of funding. The mechanism optimistically approves the document as satisfactory which reduces the administrative burden of seeking much approval in each milestone. However, to protect funders from the negative effect of optimistic approval the mechanism allows them to withdraw funds and interrupt streaming if they are not satisfied with the proof of completion document.

We believe that increased transparency throughout the funding process will help increase community participation and help reduce the issues that arise within the community due to lack of transparency and communication. 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 the information above without navigating through different governance mediums and communication channels allow a more transparent and better decision-making process for funders. On top of increased transparency and accountability, Inverter eases the funding process for both the funders and the contributors by providing an infrastructure with a better user experience, a simpler application process, and a better communication platform.