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Milestone Pools

How it works

Milestone Pools lets a group of people fund one piece of work together, and release the money in steps as the work is shown. This page walks through who does what, what happens at each stage, and what the limits are.

Who takes part

Backer

You contribute to an initiative you believe in. Your money sits in the contract, not with the creator. You can see every vote and payment, and you can claim a refund if the initiative fails or stalls.

Creator

You propose the work: the milestones and what each one pays, a funding deadline, a minimum to proceed, and the review committee. After you create it, none of that can be changed, including by you.

Grantee

The person or team doing the work. When a milestone is ready, you submit a link to the evidence. If the committee approves, that milestone's amount is credited to you and you withdraw it.

Reviewer

One of 3 to 9 wallets named at creation. You look at the evidence for each milestone and vote to approve or reject. A majority must approve before anything is paid.

The stages

  1. 1

    Funding

    People contribute for 1 to 90 days. If the goal is reached early, it starts right away.

  2. 2

    Choosing a grantee

    Only for open calls. Once funded, anyone can offer to do the work and the committee votes. They have 30 days.

  3. 3

    In progress

    The grantee submits one milestone at a time. The committee reviews it for up to 14 days. Approved milestones are paid in order.

  4. 4

    Finished

    Completed when every milestone is approved. Failed after three rejections of the same milestone. Cancelled if the grantee is silent for 60 days.

What happens if

The goal is reached before the deadline
The initiative starts immediately. Contributions stop at the goal.
The deadline passes below the goal but above the minimum
Anyone can close the funding. The initiative goes ahead and every milestone is scaled down in proportion to what was raised.
The deadline passes below the minimum
The initiative fails and every backer can claim all of their money back.
The committee approves a milestone
That milestone's amount is credited to the grantee, who withdraws it when they like. The next milestone opens.
The committee rejects a milestone
The grantee can submit again, up to three times in total for that milestone. The third rejection fails the initiative.
Reviewers do not vote in time
After 14 days anyone can close the review. A review with no decision counts as a rejection.
The grantee stops responding
After 60 days without a submission anyone can cancel the initiative. The money not yet paid out is shared back to backers.
The initiative fails or is cancelled
Each backer claims their share of what has not been paid out, in proportion to what they contributed. Money already paid for approved milestones stays with the grantee.

The fixed limits

These are written into the contract. Nobody, including the people who built this site, can change them.

Funding period
1 to 90 days, chosen by the creator
Minimum to proceed
At least 10% of the goal, chosen by the creator
Review committee
3 to 9 wallets, and the grantee cannot be one of them
Approvals needed
A majority of the committee, chosen by the creator
Milestones
Up to 10
Review time
14 days per submission
Attempts per milestone
3 submissions, then the initiative fails
Grantee silence
60 days without a submission and anyone can cancel
Choosing a grantee (open calls)
30 days, otherwise everyone is refunded

The part that depends on people

The contract makes sure a majority of the committee voted before money moves. It cannot check that the work was good. If a majority of reviewers agree with each other, for any reason, they can release money for work that was not done, or hold it back for work that was. That is why the committee is shown on every page, and why you should look at who is on it before you contribute.

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