Please welcome Help Each Other Finance

Hi, my name is Greg Solovyev, and I am the CTO and co founder of help each other the platform for crowdfunding without borders. It is no secret that crowdfunding is one of the fastest growing segments of the internet. By some estimates, the amount of funds raised annually in centralised platforms will reach almost 30 billion in just four years.

So you may ask, why do we need another crowdfunding platform. This may come as a surprise, but only about 10% of the world population can access the three leading crowdfunding platforms. On this map we have coloured the regions where these platforms are available, you may notice that the colour covers most prosperous and democratic parts of the world. So those who need these platforms the most are left out.

But even if those platforms expanded to more countries, their dependency on the banking system makes them practically unusable in countries with authoritarian government, the inspiration for our idea came from multiple conversations that we have with NGOs and charities in Russia and Eastern Europe, as well as with donors in the US and the Western Europe.

The big problem with fear based donations, is that authoritarian rulers routinely freeze accounts of anyone they don't like. On this slide we have just a small sample of headlines, describing how government seizes accounts related to political opposition. They openly and shamelessly steal the donations, I have donated thousands to some of these organisations and their accounts have been seized. Just recently, some of my friends told me that they're afraid to use their bank accounts and credit cards to donate to these organisations, because they're concerned that they may get arrested for doing so,when they come back to Russia to visit their friends and relatives.

In addition to these problems, all major crowdfunding platforms are ran by centralised corporations that have unilateral control over who gets to raise funds and how the donations get from donors to fundraisers for the most part, fundraisers cannot access the donations until their campaign reaches a certain time based or amount based goals. At the same time, access to those funds may be critical to the livelihood of their organisations and even to their personal safety.
Finally, donors are usually rewarded,only when they're contributing to commercial projects, but not when they're contributing for charity.

Enter Help Each Other(HEO)

We're building a stable coin based global and decentralised crowdfunding platform that rewards donors provides immediate access to donations, and will be governed by the community of donors and fundraisers.

Here's how it works

Users buy and use heal tokens in order to start fundraising campaigns, donors, donate stable coins and are rewarded with HEO tokens for their donations, fundraisers, received the latest stable coins immediately. Users also buy and use HEO tokens to promote campaigns, liquidity providers take LP tokens for governance and liquidity mining, and as long as the platform grows rapidly donors can even make profit on their donations.
When growth slows down the others can recoup part of their donation by selling farmed HEO tokens, using QR tokens to raise funds for themselves, or providing liquidity and the centre of this ecosystem is the HEO DAO.

HEO DAO guarantees the long term sustainability of the platform by managing the HEO fund. The fund is created with the money raised from private and public sales of HEO tokens. After that HEO DAO receives HEO tokens from users who start and promote campaigns, and then the DAO sells your tokens on decentralised exchanges to replenish the fund. After the platform is launched, and becomes stable governance of the DAO will be transferred over to the community.

We started working on the project in November last year, in five months since we have first discussed the idea, we have developed the token economics, wrote the white paper, and developed the basic prototype and agree our team. We're currently working on an MVP, that we plan to launch this summer.

We have already had multiple conversations with several NGOs and charities that are ready and excited to start raising funds on here when we launch, we're developing the platform on near blockchain, which provides lower costs and faster transactions than Ethereum the founding team brings a wide range of relevant experience from working with various NGOs and running a major news website to building highly scalable software and running technology startups. Last month, we have also added the second software engineer and a designer to our team. We're currently looking for advisors with experience in decentralised finance crowdfunding and global philanthropy.

We have already raised the small pre seed round, and we're raising $2 million in tiered private sales of HEO tokens, if you would like to find out more please reach out via Telegram, or email, or get our information from the open web collective

Learn more

HEO Finance|Twitter|Medium

*** The above piece is an edited transcript of HEO finance presentation in the Open Web Collective Demo day***