📖Glossary

• Accrual rate - The rate (linear, non-compounding) at which shares in Ideas and Solutions grow each cycle. This is set by the Updraft contract owners.

• Address - A string of hexadecimal characters prepended with 0x that uniquely identifies a person or team and their wallet.

• Airdrop - To distribute funds to previous supporters of an Idea while forgoing any future 🎁 funder rewards. Airdrops don't create positions.

• Anti-spam fee - A fee set by the contract owners to discourage spam. Anti-spam fees go to the 🚰 faucet. Anti-spam fees come in two forms:

  • fixed fee - the fee paid when editing a profile or drafting or editing a Solution. Also used to set a minimum for other anti-spam fees; if the percentage fee is lower than the fixed fee, the fixed fee will be used instead.

  • percentage fee - a percentage fee paid when creating or supporting an Idea.

• Campaign - Committed funds plus a set of tags that identify a concerted effort to fund Ideas and Solutions fitting a certain theme or topic.

• Committed funds - funds that a campaign has set aside to fund related Ideas or Solutions.

• Contract owners - set the following for Updraft.

  • Accrual Rate

  • Cycle length

  • Fee token address (UPD)

  • Anti-spam fee

    • fixed (min fee)

    • percentage

  • UPD faucet address

• Contribution - Tokens used to support an Idea or fund a Solution. Making a contribution creates a position.

• Cycle - A period of time during which all supporters or contributors get the same rate of 🎁 funder rewards proportional to the size of their contribution. The default cycle length is 12 hours.

• Draft - Create a Solution.

• Drafter - The creator of a Solution.

• 🚰 Faucet - A pool of UPD tokens used to help people get started using Updraft.

• Fee token - The token that is used to support Ideas and pay anti-spam fees and funder rewards. This is UPD.

• 🎁 Funder reward - A percentage of each contribution that goes to past contributors. The 🎁 funder reward is an opportunity for supporters and funders to earn money. The default 🎁 funder reward is 10% for Ideas. It may be set to any % (including 0) for Solutions.

• Idea - An idea to change your community, your project or the world.

• 🔥 Interest - How much support an Idea has over time. More concretely, it's the sum of the shares of all the positions in an Idea.

• Position - A person's contribution to an Idea or Solution. Can be withdrawn (in the case of Ideas), or refunded (in the case of a failed Solution). 🎁 Funder rewards and 💎 stakes can be collected in some cases. A position's shares (earning potential) grows linearly each cycle.

• Shares - A position's potential to earn 🎁 funder rewards and 💎 stakes. It's the original contribution times the number of cycles that have passed.

• Solution - A concrete plan to implement an Idea.

• 💎 Stake - UPD set aside by a Solution drafter to be divided among funders if the Solution fails to reach its funding goal by its deadline. 💎 Stake from a failed goal is divided proportionally among funders according to their shares in the Solution.

• Support - A contribution to an Idea.

• 🍬 Sweetness - The product of a Solution's 💎 stake and its 🎁 funder reward. Used to order Solutions.

• Tags - Words or phrases used to categorize Ideas. Campaigns use combinations of tags to help people find related Ideas and Solutions.

• Wallet - Holds funds related to an address and allows a person or team to take actions on Updraft.