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The fee does go towards hosting the campaign page. Also GiveHongBao doesn't charge for the deployment of the campaign contract--- that is paid out of my own acc
by vincentchu 9y ago
The fee does go towards hosting the campaign page. Also GiveHongBao doesn't charge for the deployment of the campaign contract--- that is paid out of my own account, so charging a small nominal fee felt fair to me.
I think an interesting point is to compare the fee to what GoFundMe and other similar sites are charging.
My motivation was mainly to make a competitive version that took advantage of Ethereum's native advantages:
- It's Global. You can use GiveHongBao anywhere in the world. You can't use GoFundMe unless you're in the western world
- It's direct. Your donations go straight into your wallet. You don't have to wait for a minimum donation size, nor do you have to wait for a certain time.
- It's cheaper. Ethereum transfers are a flat fee regardless of size (vs. credit card processing fees). I thought a fair thing to do would be to mirror this and charge only a flat fee (for hosting, etc..) then pass the savings on to campaign creators.