# Projects (WIP)

<mark style="color:blue;">**Over the last years, the market has seen enough imitation of activity and rug pulls from project founders.**</mark> On the other hand, there were lots of startups aiming to create real value and so are now. Unfortunately, the reputation of crypto-fundraising has suffered.

Lots of voices are voting for tightening the legal regulations for Web3 entrepreneurs, but we are sure that this is not the solution. <mark style="color:blue;">**The root cause is not in the lack of consequences for the misbehavior, but in the fact, that misbehavior is very much possible.**</mark> It’s irrational that there is still no mass adoption of Vault controlling  the Web3 fundraising market.

Vaults can address the lack of transparency for investors and decrease fundraising difficulty for fund managers. It comes through:

<figure><img src="/files/bqNJsMm5lagYNYi3DowA" alt=""><figcaption></figcaption></figure>

<mark style="color:blue;">**ASPIS introduces cutting-edge Vault tolling for projects.**</mark> Every startup can be now managed like Vault and all investors/contributors will be able to participate in its governance and profit-sharing absolutely securely and equally.

<figure><img src="/files/zhIR5ZQSWVqarU6MFXGu" alt=""><figcaption></figcaption></figure>

What can you do with ASPIS:

* <mark style="color:blue;">**Fundraising**</mark> - public placement, on-chain agreements, LP/Governance token issuance;
* <mark style="color:blue;">**Operational management**</mark> - Governance mechanisms (incl. Vault-to-Vault), on-chain execution, real-time dashboards (both for manager and investor);
* <mark style="color:blue;">**Collective decisions**</mark> via on-chain voting and be sure that the community acts with integrity.

### <mark style="color:blue;">How it works</mark>

<mark style="color:blue;">**The project founder goes to Aspis.finance and creates a project**</mark> using Aspis Vault Constructor and specifies all the rules that will be used to settle project members:

* <mark style="color:blue;">**General info about Vault**</mark>, onboarding rules (how to join), fees, etc.;
* <mark style="color:blue;">**Membership token**</mark> - representing the amount that project member has invested in the project;
* <mark style="color:blue;">**List of wallets allowed to join the newly created Vault**</mark> (Optional). You can find more details about the Vault creation process on the ASPIS gitbook.

If the project needs funds, the <mark style="color:blue;">**founder lists Vault on ASPIS Vaults Marketplace**</mark><mark style="color:blue;">.</mark> Founder must:

* Specify the fundraising target and timeline;
* Describe future budgeting rules;
* Setup controlling mechanics.

<mark style="color:blue;">**Afterward, members still will be able to join Vault**</mark> and earn their membership tokens for contribution.

<mark style="color:blue;">**Vault members can change their managers and make proposals**</mark> on changing their permissions and other project rules. Any project member who has membership tokens may propose changes to the project rules. Other project members vote for the proposal using their membership tokens. Once the proposal is accepted, it is automatically executed at the DAO smart-contract level.

<mark style="color:blue;">**Project managers are able to make transactions on behalf of the project**</mark>, but their permissions are limited. The project manager's permissions are determined by the project members via a voting process. This mechanism allows to prevent the project manager from malicious behavior, for example, it makes it impossible to withdraw the project's assets to a personal wallet.

<mark style="color:blue;">**All project members get shares from the project’s earnings and assets represented by their membership tokens.**</mark> All earnings are accumulated on the project’s balance sheet and can be automatically distributed among the members in proportion to their membership tokens.

<mark style="color:blue;">**Project members can burn membership tokens to get back their assets and accumulated earnings**</mark> if they want to exit the project.

### <mark style="color:blue;">**Key ASPIS benefits**</mark>

<figure><img src="/files/OhB6qYbmjIyu8T4v8F4z" alt=""><figcaption></figcaption></figure>


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