Want to raise funds with a Juicebox project? There’s a few important decisions you should make so that your project does what you want it to.
You should figure out if you want to raise money indefinitely or only for a certain amount of time. You can set your “duration limit” to specify this. Only want to raise money for a week? Set a duration limit for 7 days and you’re all set.
Have a certain amount of money in mind that you want to raise? You can set that with the distribution limit. If you want to raise money as much as possible, you can also leave your distribution limit off. Careful though, this may scare away contributors.
Let’s look at some examples of successful Juicebox fundraisers.
ConstitutionDAO - Total raised: 11,613 ETH (Approximately $47 million USD at time of fund raise)
This project raised funds so that it could bid on a copy of the US constitution. They wanted to raise as much money as possible leading up to the auction. They didn’t set a “Distribution limit” or a “Duration” because they needed to deploy their project as quickly as possible and stay flexible. They were able to do this because the communtity trusted them and they had a multisig. Because of these settings, the project was able to accept as much money as possible on an ongoing basis.
AssangeDAO - Total raised: 17,422 ETH (Approximately $56 million USD at time of fund raise)
This project had a deadline to raise funds by. For this reason the project opened up accepting funds for a period of 3 days, leading up to an auction that they hoped to bid on. They did not have an upper limit of funds that they wanted, so they kept their “Distribution limit” off, but they did set a 3-day duration during which they accepted funds.
MoonDAO - Total raised: 2,623 ETH (Appoximately $8 million USD at time of fund raise)
MoonDAO raised money to send a guy to space. They did it in 30-day fundraisers, so they set a “Duration” of 30 days with an open “Distribution limit”. This was to create a donation-window, and when they determined they needed more funds, they created more donation windows in 30 day durations. They succeeded and sent a guy to space.