Bitchanga: Revolutionizing crowdfunding on Internet Computer

I am applying for a $5k Developer Grant.

Please review my application and discuss! See DFINITY’s directions for becoming a registered reviewer here. They will be collected by DFINITY. When two weeks passes, DFINITY will release them and they will appear as a new section on this post.

Please review my application and discuss! If you would like to submit an official review, then please use the links below to register, see the rubric, and submit a review.

I’m looking forward to everyone’s input!

Reviewer Registration | Rubric for Evaluating | Submit a Review

MY APPLICATION:

REVIEWS:

Project Overview

Bitchanga is reimagining crowdfunding by leveraging ICP’s robust infrastructure to create a more equitable, transparent, and efficient funding ecosystem. Our platform introduces revolutionary features including automated fund management, tiered NFT rewards through Ordinals, and a DAO-driven governance structure, all while maintaining low platform fees.

:computer: GitHub: github.com/tufstraka/bitchanga

Technical Architecture

Our platform harnesses multiple ICP capabilities:

  • Chain-key signatures for secure transaction verification and transparent fund management
  • Internet Identity integration for robust user authentication and security
  • Blockchain-based KYC implementation ensuring full regulatory compliance
  • Smart contract automation for trustless fund distribution and campaign management
  • HTTPS outcalls for real-time data verification and updates
  • Canister-based storage optimized for campaign data and user information

Current Progress

We have developed an MVP demonstrating core functionalities:

  • Basic crowdfunding infrastructure with wallet integration
  • Campaign creation and management interface
  • Initial smart contract implementation with automated distributions
  • Beta platform available at bitchanga

Detailed Milestones

Q1 2025 (In Progress)

  • Enhancement of existing MVP core functionality
  • Implementation of advanced security protocols
  • Integration of ICP-native features
  • Completion of tokenomics research and development

Q2 2025

  • Launch of Ordinals Marketplace
  • Implementation of tiered NFT reward system
  • Platform token deployment with complete documentation
  • Smart contract audit and security verification

Q3 2025

  • Community governance framework deployment
  • Marketing initiatives focused on crypto-native entrepreneurs
  • Integration with major ICP ecosystem projects
  • Performance optimization and scaling improvements

Q4 2025

  • Global expansion through strategic partnerships
  • Advanced analytics and reporting tools
  • Enhanced automation features
  • Cross-chain integration capabilities

Technical Innovation

Our platform introduces several groundbreaking features:

  • Automated fund management using ICP’s native capabilities
  • Integration with Ordinals for unique reward mechanisms
  • DAO-based governance ensuring community-driven development
  • Blockchain-based KYC system for regulatory compliance
  • Low-latency transaction processing through ICP’s architecture

Ecosystem Impact

Bitchanga will significantly contribute to the ICP ecosystem by:

  • Providing open-source components for future DeFi projects
  • Demonstrating ICP’s capabilities in handling complex financial systems
  • Creating new economic opportunities for entrepreneurs
  • Attracting traditional crowdfunding users to the ICP ecosystem
  • Establishing standardized patterns for DAO implementation

Market Opportunity

We’re targeting a $21B crowdfunding market with a focus on:

  • Crypto-native entrepreneurs seeking decentralized funding
  • Technology innovators requiring transparent fund management
  • Community-driven projects benefiting from DAO governance

Open Source Commitment

Our entire codebase will be open source, allowing the ICP community to:

  • Learn from our implementation patterns
  • Contribute to platform development
  • Fork and adapt our solutions for other use cases
  • Audit and improve security measures

Why ICP?

Internet Computer provides the ideal infrastructure for Bitchanga due to:

  • Native support for complex smart contracts
  • Robust security features
  • High scalability potential
  • Strong community and ecosystem support
  • Advanced features like Chain-key signatures and HTTPS outcalls

We believe Bitchanga represents a significant leap forward in crowdfunding technology, demonstrating the full potential of ICP’s capabilities while creating tangible value for the ecosystem. Our existing MVP and clear development roadmap show our commitment to delivering a production-ready platform that will serve as a showcase for what’s possible on Internet Computer.

3 Likes

Hi, I have some quick questions for you.
There are many crowdfunding platforms on the IC, such as Funded App, BoBDotFun, and ICTO.

  1. What makes “Bitchanga” different and stand out among these applications?
  2. can you explain how the “Blockchain-based KYC” solution works?
    Do you have an available MVP for this?
  3. What capabilities of the IC do you plan to use?

Looking forward to a reply on this.
Thanks

2 Likes

Tired of traditional crowdfunding platforms with their high fees and lack of transparency? Meet Bitchanga - where builders and investors connect directly through the power of blockchain. We’re leveraging ckBTC on the Internet Computer Protocol to make project funding faster, safer, and more transparent than ever before.

What makes us different
Ever tried raising funds for your project only to get lost in a sea of paperwork and intermediaries? Or invested in a project only to wonder where your money really went? We get it. That’s why we built Bitchanga with both builders and investors in mind.

This info is in the link but might be good to post here.

2 Likes

Hi @ishaaqziyan

I hope you’re doing well! Here are my thoughts in response to the questions

  1. Fees and Decentralization:
    I’ve observed that most crowdfunding platforms charge significant fees. If they don’t, they often lack true decentralization. Many platforms also require you to submit your project for review by a small group of individuals before approval. What if we changed the approach?
    With us, users can submit projects directly and pay minimal fees through micro-transactions. Instead of centralized reviews, the public will evaluate projects before they go live. We may introduce a voting mechanism where users cast votes based on the native tokens they hold on our platform. This fosters a fairer, community-driven approval process.
    This is in addition to the information in the link @Jonathan mentioned.

  2. Blockchain-based KYC:
    We’re exploring decentralized KYC platforms, leveraging APIs that integrate with such systems. This approach allows us to assess users’ credibility based on their crypto transactions. The focus remains on the project and its traction, rather than revealing the identity of creators. Anonymity will not be a barrier for participation, as long as trustworthiness is proven through their blockchain activities.

  3. MVP and Escrow Demonstration:
    We do have an MVP, which I’ve linked. It primarily showcases the escrow functionality of our canister. While it’s a simple demonstration, it illustrates our ability to handle secure transactions effectively.

  4. ICP and Automation:
    We’re using the Internet Computer Protocol (ICP) to automate fund management for blockchains like Bitcoin. ICP provides a seamless developer experience, and through integrations like ckBTC (Bitcoin on ICP), we can offer low transaction fees and other significant advantages. Over time, we aim to expand payment options beyond Bitcoin to cater to a broader audience.

Regards,
Keith

1 Like

Hi!
Thank you for the response
I see these are valid points.
Another small question on Blockchain-Based KYC:
Are you planning to use the APIs from popular service providers such as Sumsub, Veriff, and WithPersona to do the verification and then save them in the IC or are you building related tooling from scratch?
Thanks

1 Like

I’m planning to use the API’s. But i’ll only be working with decentralized identity verification platforms.

Noted.
Thank you for your explanation.
Can you disclose the “decentralized Identity services” you are planning to use on this project?
In addition, can you explain why there is a simple form submission in the MVP, curious to know why Internet Identity is not there
Looking forward to a reply
Thanks