Depositing Into A Funding Round
NFT Deposits Enabled
With Lore, you can deposit NFTs into a Funding Round. However, the creator of the Funding Round needs to enable NFT deposits when setting the parameters.
Once the Funding Round is open, you can deposit an NFT into it by selecting "NFT" in the open Funding Round deposit card.
The deposited NFT must be valued in the Funding Round's base currency to ensure fair equity distribution. This can be set during the contribution process.
Make sure to discuss and agree with your team on the valuation of an NFT before contributing it to a Funding Round. If a signer wants to remove a contribution, they can do so but can't change the value of another user's NFT deposit.
When the funding round ends, the contributor of the NFT will receive equity based on the NFT valuation.
- 1.Can I Update NFT Valuations? Yes, users can update their NFT deposit value before a round closes. It's important to note that only the user who deposited the NFT can update their valuation. Signers or other users cannot update a valuation that a user has set.
- 2.Can I Issue a Refund? If you accidentally contribute to a Funding Round and want a refund, you can remove your contribution by clicking "..." and then "Remove from the round." You can then get a refund by launching a Refund Contribution Proposal or through the Inbox. This can be done during or after the funding round. If you don't remove the contribution during the Funding Round, you'll need to create an Exit/Payout Proposal for a refund.
- 3.Can I Deposit Any NFT? All NFTs that are available in your wallet will appear. Select the NFT you want to deposit from your wallet. To ensure fair equity distribution, the NFT value must be set in the base currency of the Funding Round during the deposit. You can do this in the contribution flow.