Stitchia | Docs

Operational Model

Here we are clearing all the operating connections and main Stitchia Network processes.
The Stitchia Network operating model includes 3 main stages:

1. Initiation stage

This initial stage includes all necessary steps to start the crowdfunding project realization on Stitchia Network.
A Genesis ticket holder or a holder of at least 10,000 STITCH tokens can propose (endorse) a project by submitting an application form with basic details attached.
Then, our core team members will check these details and set the project(s) to be listed for voting by our Genesis ticket members. We are aiming to decentralize the entire process of how each and every project is being approved, listed and so under the sole governance of the StitchiaDAO members (all the Genesis ticket owners and for future releases — holders of a min of 10,000 staked STITCH tokens).
After a project is pre-approved (basic info checked and validated), it would be listed on the Stitchia Network for community voting. The vote shall be considered successful under two conditions:
  • at least 10% of the 1,111 Genesis ticket holders are actively voting for the pre-approved project, AND
  • any number of holders of a min of 10,000 staked STITCH tokens are actively voting for the pre-approved project, AND
  • the project must collect at least 51% positive votes of the actively participated members (from both Genesis ticket holders and STITCH tokens owners).
Once approved by the Stitchia core team initially, and later by StitchiaDAO, the project moves to the next, so-called Inception stage.
People outside Stitchia Network can also present their own ideas and projects before StitchiaDAO members. This is possible if a project developer connects with Stitchia core members /until the StitchiaDAO start to fully function/ or at least one Genesis NFT ticket owner, who could like the idea and endorse it before the other members in StitchiaDAO. All future steps like voting, NFT collection development and others remain the same as described.

2. Inception stage

The next step in the line is the design and development of the NFT collection related to the real-life project (also, the creators could use one of our available artists to create that collection).
Stitchia team, together with the entrepreneur, is preparing the mint of the NFTs and the marketing of the upcoming private and public sale.
Remember that all the Genesis ticket holders will receive guaranteed allocation for all upcoming Mints of future projects. Also, the Tailors will take guaranteed free airdrops.
By holding the project’s NFT, a user supports the idea or cause behind this project. Also, all the users could benefit from the project's popularity and would have exclusive access to the project's features or other incentives throughout their project’s NFTs.

3. Rollout stage

Relocation of funds will take place in the final Rollout stage. It would be delivered in 3 phases, based on pre-agreed deliverables/milestones proposed by the person or people behind the idea. The progress of the particular NFT collection sale will be tracked transparently and fairly processed.

User segregation in Stitchia Network

We are building one stable and trustworthy community where all the members and end-users have their specific roles, which is crucial for maintaining the working mechanism of the network. There are three groups of users as we see it.
On one hand, there are the DAO members charged with the difficult task of driving meaningful projects to the path of their realization and keeping the network working as one. All the Genesis ticket holders, along with the STITCH token holders, come together to form the Stitchia Network core Community, which would be the driving force behind every decision made on the network.
On the other hand, there are the artists and creators (digital, physical, or non-profit), which will continue of growing their art by listing and selling it on the platform.
Thirdly, there are stepping the Entrepreneurs & Startups, which represent sustainable practices and cool ideas.
Last but not least, there are the valued end-users: all NFT collectors out there, or perhaps all the people in this world, that are interested in crowdfunding and support good causes and cool ventures.