Good day everyone.
I hope all is well with our fund boosters.
As you all know, we've been back up and running since we ironed out our compliance issues with the OSC. Unfortunately, we still have other issues that has come up, and seems to be en even harder hurdle to climb.
We've been pushing our sponsorship program very hard for the last year, as there is nothing like it on the market. But, no matter how great it is in theory, people have to buy into the concept. We have made great strides in improving the program and we're proud of what we've accomplished. However, only 30% of campaigner X's are fulfilling their sponsorship requirements. The rest are not doing anything. With those numbers, the sponsorship program is unsustainable.
So with heavy hearts we've decided to pull the plug on the sponsorship program.
This means no one can sign up as campaigner X or sponsor. Although the program was our main focus sincel our launch, we still have attractive options available on our crowdfunding platform. Members can sign up as a campaigner at any level. It's a great way to raise money for your projects. Remember, 50% of all donations raised by your campaign supporters will fund your campaign. Also remember that you can receive 100% of any guest donation bring.
If you are were a Sponsor, whatever balance you had in the pool resources has been transfered to your campaigner donations balance. For your unfulfilled sponsorships, we will still abide by our word that we will try to reimburse all your unfulfilled sponsorships.
Thank you for your support, patience and understanding.
Good Day Everyone.
This is a quick update letting all members know that we have scrapped the 1:1 rule feature. It hasn't been working out as we intended. We have now implemented our old feature. Which is that a Campaigner can refer as many Campaigner-X as they like, provided their previous Campaigner-X have fulfilled their Sponsorship.
To give you an example.
Step 1: Campaigner refers a Campaigner-X.
Step 2: Campaigner-X fulfills their Sponsorship.
Step 3: Campaigner can now refer a new Campaigner-X.
Most of you are already familiar with this setup.
One other thing we forgot to update you on in the last email is the numbers for the Sponsorships. Here is a quick example.
Sponsorship amount = $4
Sponsorship goal = $6.8
Sponsor receives $5.78
The Sponsor received their original $4 plus $1.78 in new donations from a single fulfilled Sponsorship.
Our current funding level is at $4 because we want to faciliate large amount of Campaigner-X joining. If we do have an increased number of Sponsors joining, we will raise the funding amount to what's more appropriate.
Good Day Everyone.
First of all, we would like to thank you all for your patience during the last several months as we're dealing with compliance issues.
The great news is that we're back in full effect. We've made a few changes that I'm sure you would all like.
Since most of you are from the old system, here are the new terms we are using.
Sponsor = Referrer
JVP Program = Sponsorship Program
Funder = Sponsor
Fundee = Campaigner-X
Before the Sponsorship program went offline there were members who signed up as Campaigner-X. It's been a long time since then. Since much as changed in the program, we have converted those members into regular Campaigners. If you are one of those members, you can once again become a Campaigner-X by signing into your account by going here. https://www.fundboost.net/sign-up?p=4&v=2
We have also cancelled all the pending Sponsorships. Unfortunately they would not have worked with the new changes we've made. But have no worry. That's why we setup the "Security Pool" in the first place. It'll be used to reimburse all the unfulfilled Sponsorships. This will only apply to Sponsorships before August 4th. All new Sponsorships will be left open until they have been fulfilled. There will be no Security Pool to back them up. Once all the old unfulfilled Sponsorships have had their original donation back, the Security Pool will be removed completly.
Here is a list of things we have updated.
(1) A Campaigner-X now only need to refer two Campaigner-X, whereas before it was three.
(2) A Campaigner-X's account will not be approved until they have referred two Campaigner-X. And the two Campaigner-X you referred needs to find their two Campaigner-X in order for you to fulfill your Sponsorship.
(3) 10 day limit has been removed. All new Sponsorships will not have an expiry date. They will be left open ended until they have been fulfilled.
(4) The clawback function has been removed as well.
(5) There will be no reimbursement of any new unfulfilled Sponsorships starting from August 4th, 2018. All the unfulfilled Sponsorships before August 4th, 2018 will be reimbursed, starting from oldest to newest. This will be done using the Security Pool. It will take time, so please be patient.
(6) 10:1 Accelerator function is now fully automated. It'll automatically deduct the donation that is owed and send it to the referrer of the member.
(7) There are couple new functions.
- Start Auto Resources: If started and you have a "Donations Received Balance" of $4 or more on your Sponsorship Dashboard, that amount will by automatically added to your sponsor pool resources. This way you don't have to manually add pool resources every single time.
- Start Pool Resources: If started, your sponsor pool resources will be used to match you with Campaigners-X. Otherwise you will not be matched with any Campaigners-X.
(8) All accounts will now require to choose the type of account they are.
(9) We have added a new field in the "Withdrawal Methods" page. It's called "Account Currency". We noticed an issue with some of the members who had a bank account in a Currency different from the country they are located in. This will ensure us that doesn't happen again.
(10) ALL members are required to have a Campaign in order to receive donations of any type. Even Sponsors need an active Campaign in order to be matched with Campaigner-X.
(11) To receive "Referrer" donations, you must be at minimum of level 1.
(12) A 1:1 rule will apply to all Campaigners referring Campaigner-X. This means that for every Campaigner-X referred, you must also refer a regular Campaigner @ level 1 OR receive a Guest Donation. You can refer as many Campaigners-X as you like, as long as you are following this rule.
(13) We have add a "Perks" option when you create a Campaign. You have an option to give certain perks to people who donate to your Campaign.
(14) A lot of members are still not understanding the concept of posting an attractive Campaign. Which is why they are being rejected. When creating a Campaign, please add proper details and a proper sized photo. If you do not do that, it will keep getting rejected. If your Campaign is not approved, it will not appear on the public side of the site. Only you and your referrals will be able to see your Campaign. Having said that, even though your Campaign is not approved but is active, you will still be able to receive donations.
We will no longer be hosting any conference calls. All communication will be done through email. We will also host webinars in the near future to educate people about our platform.
Please remember that Fundboost is a donations platform. Any donation sent on the site is freely given. It is NOT a loan or an investment.
If you do not understand something about our platform, let us know and we'll be glad to educate you on it.
Good morning everyone,
There are some new things we would like to mention in this update.
1. We have a new promotion running from Monday 7th to Friday 11th at midnight. The promtion is simple. Anyone who joins at level 1 during this period, will be automatically be upgraded to level 3. You can be a brand new member signing up or you could be a current member at level 0. As long as you upgrade to level 1,
you will qualify for this promotion.
2. We added a new feature called "SEND IT FORWARD". This will allow you to forward your donations to any member in the platform. You can do this three ways.
- Using your Credit card
- Using your Campaign donations
- Using your Sponsor donations when it becomes available.
No admin fee is charged when fowarding your donations.
3. For members who are submitting their campaigns, please follow the instructions.
Your campaigns are being denied because of any one of these reasons.
- The campaign details are less than 600 characters long.
- The campaign photo does not have the correct dimensions(400 x 600 pixels).
- The campaign photo looks stretched or condensed.
Correct your campaign with the above instructions and resubmit them.
We have also added a new option when creating a campaign. Now you will have to choose whether your campaign is either a Personal, Business, or Non-Profit.
Good day everyone,
It's been a while since our last update. We appreciate your patience and support.
Here's an update regarding some of the changes made to our platform.
1. We switched crowdcoinclub.com to fundboost.net. This is our new domain. And our new email is firstname.lastname@example.org. All your accounts, data, and donations are still the same.
2. We've added three new levels to make it easier for people to join with their own money. All previous members were upgraded 3 levels up to accommodate this change.
3. The JVP program will now be referred to as the Sponsorship Program. Please read the faq and terms and conditions to get familiar with it. Here are the new terms you should be using.
Sponsor = Referrer
JVP Program = Sponsorship Program
Funder = Sponsor
Fundee = Campaigner-X
Please do not use the old terms anymore when describing this program. The Sponsorship program is under development. It may take up to 3 weeks for it to be completed.
If you were a Campaigner-X(fundee) in the old system, you will see a message on your member dashboard that your account is pending for approval. Since the Sponsorship Program is not going to be live for a while, you can choose to cancel your request and pay with your own money for level 1 @ $4.
All the old Sponsors(Funders) will still retain all their old data and donations once the Sponsorship Program is live.
4. ALL campaigns will have to be approved before they are allowed to be visible on the public side. So we encourage all of you to update your current campaign(s). Make it as detailed as possible and have a good relevant photo with proper dimensions. The dimensions are 400 x 600 pixels. Once it's updated, resubmit it for approval by going to "Campaigns List" page and clicking on "Details" for the individual campaign.
If you do not do this, your campaign will not be approved. If your campaign is not approved, it will not be visible to the public. Only your direct referrals will be able to view it.
We added this rule because we noticed that vast majority of the members were not putting any effort into creating a proper campaign. We only want proper detailed campaigns to represent fundboost.net.
5. Our new platform sharing fee is 7%.
6. All the bank wire and e-Transfer withdrawals will still be sent under Crowd Coin Club Inc. CCC basically owns Fundboost.
That is about the gist of it. We will send out another update specifically regarding the Sponsorship program once we are ready to go live with it. In the mean time, you can get started by updating your campaign and start marketing it.