Frequently Asked Questions
How is the reputation score (impact score) calculated?
The impact score is calculated using a detailed methodology that measures contributions and ecosystem influence. For details, see Impact Score Calculation.
Can I support projects without donating money?
Yes. Users can vote using impact scores alone. Someone with a high impact score who doesn't donate can have a bigger influence than a low-score donor.
How do you prevent wealthy donors from controlling voting results?
The platform uses quadratic voting mechanics. A $10,000 donation yields only 100 votes, while twelve $1 donations from high-impact users can outvote it. The quadratic funding formula determines allocation amounts. The Socious Fund team retains final discretion over all funding allocations as described in our Terms of Service.
How is the complex system kept simple?
Proposers get clear guidelines, handy templates, and step-by-step support. Voters enjoy an intuitive interface where supporting causes requires a single click.
Are smart contracts audited?
Yes. The platform uses battle-tested smart contracts from well-established, trusted libraries and subjects custom contracts to rigorous audits by independent third parties.
What is your platform fee?
- Transaction Fee: $0.30 per donation
- Platform Fee: 12% (decreasing 0.5% per $50 donated)
- Minimum Fee: 2% ($1,000+)
- Fiat: Stripe adds 5.6%
Fee structures are subject to change. See our Terms of Service for the most current fee information.
How do you prevent collusion?
Methods include reputation incentives, penalties (reputation loss/bans), economic disincentives via fee structures, and Connection-Oriented Cluster Matching technology.
What behaviors are prohibited?
Vote buying/selling, multiple accounts, automation bots, coercion, misrepresentation, hacking, vote coordination, and actions undermining platform fairness. Violations may result in investigation and enforcement action, including account termination. Disputes are resolved in accordance with our Terms of Service.
In what currencies can I receive funds?
Cryptocurrency directly (no fees). Fiat conversions incur a 5% processing fee.
What are fundraising requirements?
- Create and verify organization profile
- Submit aligned project (social, environmental, innovation, community development)
- Mobilize supporters for verification and voting
What KYC documents are needed?
National Identity Card, Passport, or Residence Permit.
What are ecosystem contributions?
For-profit entities receiving funding are required to contribute equity (shares) to the matching pool as a condition of eligibility. This requirement constitutes a binding commitment upon receiving funding. Projects may also offer supplementary contributions such as tokens, revenue-share, or carbon credits. See Ecosystem Contribution for details.
What are milestones?
Milestones are measurable deliverables derived from your project's Key Deliverables and Goals as stated in your proposal. They serve as the basis for phased fund release and ensure accountability to the voters and community who supported your project. The Socious Fund team retains final discretion over the approval, modification, and structure of all milestones. See Milestones for details.