On WHIRL, you can only create a fundraising campaign after you’ve already contributed to others, inspiring a positive feedback loop of generosity. WHIRL is not a typical crowdfunding platform tacked onto the blockchain; it offers key improvements and innovations over legacy crowdfunding platforms.

WHIRL’s vision is a world that’s inspired to support one-another in an endless loop of giving and generosity. It is to make an impactful difference on a massive scale in how people’s dreams, projects, passions, and necessities get funded, removing the need to take out expensive and often never-ending loans from banks, ship rewards to backers, or beg friends and family for donations. It is to usher in the next generation of crowdfunding platforms with a product that’s truly global, blockchain-based, and dramatically increases campaign funding success stories. It is to be at all times socially driven, with an emphasis on helping nonprofits access a game-changing source of new capital. Ultimately, WHIRL’s vision is to create a whirlwind of good.

USP

• Giving economy. WHIRL’s core innovation is that you can only create a crowdfunding campaign after you’ve contributed to others. And the amount you’ve contributed determines how quickly your campaign goes live and how much it can raise. All of this is managed by an internal points system called “karma,” which creates a pay it forward, giving economy that will inspire a whirlwind of good across the globe.

• 100% success rate. Second, while crowdfunding success rates have precipitously declined over the last few years, WHIRL guarantees a 100% success rate. This is made possible by WHIRL’s karma economy and the fact that WHIRL brings the entire community’s attention on only a few active campaigns at once. When combined with karma limitations and incentives, WHIRL ensures a 100% campaign success rate.             

• Truly global. Because it’s built on the blockchain and accepts cryptocurrency, anyone can participate without worrying about the banking restrictions inherent to legacy crowdfunding platforms. WHIRL does not segment its audience by region, enabling campaign creators to connect with an audience of international backers.

• First major blockchain-based crowdfunding platform. Unlike other blockchain projects, WHIRL isn’t empty, future hype. The platform is working today after more than a year of development, and portions of its technology have been in development for three years. WHIRL lets anyone back campaigns with a dozen major cryptocurrencies, infusing a new source of capital into crowdfunding.

• Socially driven. WHIRL works with leading nonprofits around the world and gives them featured placement, white glove support, waived platform fees, and bonus backer incentives. WHIRL will also prioritize campaigns that relate to urgent humanitarian crises, helping drive fundraising to people with desperate, short-term needs. WHIRL understands that the most effective way to improve the world is by helping those who are already improving the world.

How WHIRL Works

Karma points

Backing a campaign on WHIRL earns the backer Karma for every dollar they contribute. Different sums of Karma can be earned depending on (1) the cryptocurrency used to support a campaign and (2) whether that campaign is for a non-profit organization, in which case it offers a Karma bonus. Karma is required to create a fundraising campaign on WHIRL (500 required) and determines when a campaign can go live and how much it can raise. Karma is not a cryptocurrency; it is an internal accounting system that cannot be bought, sold, or transferred. Once a member completes a fundraise on WHIRL, their Karma balance resets to 0 and they pay forward the benefits they’ve received to help others and build Karma once again in pursuit of another campaign.

WRL token

WRL is WHIRL’s platform cryptocurrency. Backing a standard campaign with WRL yields 10 Karma per dollar instead of 7 Karma per dollar. Unlike Karma, WRL is a cryptocurrency and can be bought, sold, or transferred.

Active campaign slots

In the beginning, WHIRL will list only 1 active fundraising campaign at a time. This is to ensure that every campaign meets their funding goal. Over time, WHIRL will expand the number of active slots but will keep the count small. WHIRL also has special campaign slots devoted to nonprofit organizations. In the beginning, there will be 2 such slots, though that number will expand as the community grows.

Fair & transparent queue

After a campaign is created, it enters WHIRL’s queue in the last position. The queue is comprised of a series of rows with two slots in each row. Once a campaign leaves the queue and launches on WHIRL, its spot in the queue becomes empty. The two campaigns immediately below it compete for the empty slot. The winner is determined depending on (1) which campaign creator has the most Karma or (2) how many times has the campaign been overtaken. At any moment, any member may inspect the queue to see what campaigns are forthcoming. WHIRL will fast-track campaigns that relate to an urgent humanitarian crisis.

Platform fee

WHIRL charges a 5% platform fee. All fees earned in WRL are burned. This fee is waived for verified nonprofit organizations and will be reduced to 3% once the platform reaches a sufcient scale.

Moderator review

WHIRL has very strict rules on the types of campaigns that can raise money on WHIRL. For example, illegal or adult content is prohibited. To maintain these rules, every campaign on WHIRL is vetted by a moderator before it’s allowed to list.

Nonprofit initiative

WHIRL works closely with leading nonprofits around the world to help them access a new source of capital. WHIRL educates them on the ins-and-outs of cryptocurrency, waives all platform fees, helps them set up their campaign, fast-tracks their campaign, gives it special visibility on the site, and then incentivize backers with bonus Karma.