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A review of the FundRequest website, white paper (WP) and encompassing information was conducted by the team from CryptoCentral.io (CC).


A review of the FUNDREQUEST website, white paper (WP) and encompassing information was conducted by the team from CryptoCentral.io (CC). This process is going to speed the process of the ICO by becoming officially certified by the CC team, with our stamp of approval. By being ICO certified, potential investors will have the confidence they need to know that the ICO information has been studied, and a thorough investigation into the ICO was conducted. By showing the stamp of ICO certified, it will give extra credibility to the team, and entice investors to trust the team. The investigation was conducted with utmost care, and is understood to be above what the average investor would conduct during a due-diligence investigation. All information from the website, WP, and provided information is taken as true and factual.


In the world of computer and platform programming, code perfection is an absolute must. Usually a program will have closed source coding which is to say, nobody is allowed to view the actual coding behind the program. In recent years that has changed as more and more applications are moving toward being open sourced. Being open sourced is allowing all users to freely view, edit, improve, and change the code. Since the code is able to be viewed by the community for the platform or application, it serves as being self-policing. Much in the same as articles are sent to be peer-reviewed before being published, open source communities constantly review the coding for the applications they are passionate about. One of the key reasons for open source coding and transparency is to keep the program up and running. In today’s computer driven business world downtime for applications or having an exploit, can cause huge problem financially and to a business’ reputation. By having the open source code database, companies will be able to see potential problems before they arise, and have many skilled coders looking and monitoring the process as a whole. Sadly, a common problem to open source communities is that they are predominantly run by volunteers. After some time these people can become burned out, or be forced to move on from the project due to financial reasons. This is where FundRequest is going to be providing a solution. Instead of open source verification being a, mainly, volunteer effort, companies and groups will be able to provide financial incentives for coders to review their source code. One of the most common places for open source coding is GitHub. With the FundRequest platform, there will be financial rewards offered to coders to dive into the code and look for problems, design content, or provide a general review. This will solve the issue of the coders getting burnt out from too much volunteer work, and will allow for a more financially sustainable environment for the companies and groups to “hire” experienced programmers and coders.

White Paper Review

The WP reviewed was FundRequest Whitepaper Version 1.2 published November 1, 2017 No information or consideration will be given concerning grammar or spelling, unless it is extreme. One of, if not the, most crucial pieces of information that an ICO can give potential investors is their White Paper (WP). It is of utmost important to have a clear, concise, and professional WP. With this document the company will have the opportunity to get their message across to the readers, and convince them that the project has merit and is worthy of receiving their investment funds. The WP for FundRequest is easy to read, and does a good job describing how the process will work. However, there are some key sections missing in the WP. These include, team information, token information, company/legal information, and internal forecast models. Adding sections regarding the legal incorporation of the business is especially important. Potential investors want to be assured that the project they will be investing in is complying with all rules and regulations in their chosen country. As well as the information regarding the token and the sale itself. While it is available on the website, it should also be included in the WP. Clear definitions of the tokens and how they will be used is advised. If possible, include planned financial forecast to solidify value. The WP for the project needs to be a one stop shop for all things related to FundRequest. The WP is essentially the complete guide to what the project, team, and technology is. After reading the WP a potential investor should be able to understand at least the basics of all aspects of the project. The graphs and figures within the WP are well put together and easy to follow. It is especially important to use graphs when explaining difficult concepts to the reader. After reading about the general flow of the project and then seeing the graphs and figures, the readers will better understand how the process works. Disregarding the sections that are advised to be added the WP does a good job covering the current situation and describing the solution the platform brings. The team will need to prove there is actually a need for their product and that the marketspace they are breaking into is actually viable. Both of these are detailed well in the WP and provide the reader with a sense that the market has been researched and the team is confident of the projects success.

Business Key Products

The FundRequest platform will be a third party meeting place for open source content creators, and users who are looking to monetize their coding and programming knowledge. The marketplace that will be built into the FundRequest module will provide a way for people to quickly and easily come together for open source coding needs. The main example given is that a company that open source code can post a reward for having a certain section added to their code, or a review to find security flaws. There will be two ways for people to interact via the system. They can be either Funders or Solvers. As was explained in the example above, Funders will be companies or groups that have code they are trying to have reviewed. Solvers will be people with programming and coding knowledge, who looking for a way to capitalize on their skills. A main issue with the current open source doing community is burnout. Since most of the open source code review work is done voluntarily, people can spend an enormous amount of time working and not receive any financial benefit from it. This will be alleviated with the FundRequest platform as Funders and Solvers will come together to have their issues resolved. The entire process will be done via smart contract, so the entire process becomes trustless. A Funder will put certain parameters into a smart contract, and once the Solver has fulfilled the requirements, the funds will be automatically send to the solver. A very interesting twist to this is that the Solver will also have to stake their funds to win the contract. By having this system the marketplace is protected against spam, because, as the team says, the solvers will have skin in the game. After completion of the project, the Solver gets both the reward and their staked tokens returned. Please refer to the WP for further information regarding the key business plans for FundRequest.

Team Review

After reading the WP, the next place that potential investors will closely scrutinize is the project team. It is imperative that the team information is accurate, up to date, and all information is readily available. An in-depth review of the team was conducted in order to identify any potential weakness in the presentation or areas of concern. Investors will want to see that the team has the past experience, and strategic partnerships in order to fulfill the promises in the WP, and deliver on the milestones set forth in the road map. From the information provided on LinkedIn the executive team of FundRequest is experienced in the field of programming and coding. Each of the team members have many years of experience in the field. They have held high ranking positions at previous companies and are well respected in their field. According to their online profiles, they also have experience in startups and running their own small consulting companies. This is a key area to highlight as it shows they have the previous experience for launching a new company. Each of their combined experience will be useful in developing FundRequest into the company they hope it to be. The Advisory board for the FundRequest team is very professional. They consist of early stage investors, and skilled managers. One area of the advisor team that is missing (according to the website) is the Legal counsel. 
Executive team:

Karel Striegel: Karel is the Founder and CEO of FundRequest. He has a degree from Katholieke Hogeschool 'Sint-Lieven', Gent in Belgium. He has many years of practical coding and programming experience. He has run his own Linux Engineering consulting firm for the last several years. As CEO Karel is responsible for the overall vision and goals that FundRequest is set to achieve.

Davy Van Roy: Davy is the CTO of FundRequest. He has a Master’s in Applied Informatics from KU Leuven. He has held numerous consulting, software development and engineering postions before joining the FundRequest team. As CTO Davy will be in charge of the overall architecture and development of the FundRequest platform.

Gerbert Vandenberghe: Gerbert is the Business Analyst for the FundRequest project. He holds a Master’s degree from Vrije Universiteit Brussel. His previous work experience include his own business called Mispel & Kwee, as well as being a Project Manager at several other IT related companies. Gerbert’s main role will be to maximize value for the company via business relationships to ensure the best possible experience for the users of the platform.


Lasse Clausen: Lasse is an Advisor to the FundRequest project. His main role will be to provide guidance on the tokenization process of their platform. He has degree from the European Business School Madrid. He is a partner at 1kx, which is a blockchain angel fund.

Christopher Heymann: Christopher is an Advisor to FundRequest. He will be advising on technology and token economics. Christopher is also a member of the 1kx blockchain angel fund. He has a Master’s degree from Leipzig University.

Nico Haelterman: Nico is an Advisor to FundRequest. His main areas will be as technical analyst. He has 3 Master’s degrees from the KU Leuven. He is a Project Manager and Scrum Master at IPC in Belgium.

Website and Social Media Review

The website for the FundRequest project was visited and inspected on November 15, 2017.  Having a clean and professional website is absolutely critical to impressing potential investors who are investigation your project. The website is the visual, and written representation of the company as a whole, if the website is not up to par, potential investors will leave without a second look back. The overall feel for the FundRequest.io website is artsy and fun. It has the information that is required to allow readers to fully understand the project, but it is difficult to maneuver. An example of this is for the sections on learning more about how each style of user interacts with the platform. By clicking on the links, it is hard to tell exactly where a person is, and there are no clear links to follow a logical order to the next steps. It is not detrimental, just a minor inconvenience.  The information regarding the token sale is front and center and is easy to find upon reaching the website. The ICO section explains in detail all the relevant information that is needed to understand the token structure and the planned distributions. The social media links are well marked, and available. All of the main social media channels are in use. This is especially important as having a strong community is one of the most important correlations for the success of a project. A google search for “fundrequest” shows that the website and information regarding the website is well optimized for search engines. All of the relevant information came up, and is easily distinguishable. The Bitcointalk thread is from 2016, but has updated information from now. It is recommended to delete the old thread, and then make a new thread. Finding a high level account to post it will allow graphs and figures to be displayed within the post itself. Having an active Bitcointalk thread will make sure that ICO investors in the community are constantly seeing the FundRequest thread pop up. Information regarding the legal counsel and company incorporation is not on the website. One of the main pushes in the current ICO realm is to be fully transparent and open about legal proceedings. Having all the information regarding company incorporation and/or legal counsel will help potential investors to have confidence in the project.

The website and community structure is in place for the ICO. A route to go be considered is to work with a PR firm or company in order to drive organic growth towards the project.  Also starting a bounty campaign for the FundRequest platform is a great way to get people engaged as is a very common marketing tactic.

Technical Discussion

The main idea behind the FundRequest platform is to bring together open source coding developers, and companies that need help with their code. The open source community is very large, and faces one major problem – burnout. Since open source coding improvements and checks are almost exclusively voluntary, it can be difficult to keep a project running. The solution to this problem is the FundRequest project. The project will leverage blockchain based smart contracts in order to give monetary incentive to coders and programmers. This will bring a number of benefits to the open source community as a whole. The two main ways people will interact with the platform is as a Funder or a Solver. A Funder will be a person, group, or company that has coding that they wish to have reviewed, added to, or security checked. They will be able to post a bounty via a smart contract, and decide the parameters as per the requirements. Since the problems will be structured via a smart contract, the exact details of the contract will need to be fulfilled before it is completed. The Funder will then be able to offer the smart contract to Solver’s as a reward to have them work on their project. This can and will be a significant savings from other consulting fees, and provide the Solver with a financial incentive to complete the work. The counterpart to the Funder will be the Solver. A Solver is a coding or programming expert who will accept the contract from the Funder in order to do the work that is prescribed. Once the work has been agreed upon and completed, the Solver will be rewarded the tokens from inside the smart contract. An anti-spam system has been built into the platform as the Solver will have to stake their own funds in order to secure a contract. This ensures that the Solver will do his best effort to complete the project as agreed, in order to get his original input back along with the reward. As is obvious from how the system will work, Funders will be able to have their projects prioritized by the community, and Solver’s will be financially compensated for their time. This will be a win-win situation for the entire open source community, and will contribute to a healthier, more involved ecosystem.

Economic Evaluation

An economic evaluation is one of the trickiest parts of due diligence for an ICO. Going off of publically available information regarding the industry the ICO is breaking into, and drawing conclusions is often the norm. The total amount of tokens sold during the token sale will be 85 million. The sale price is 1800 FND (FundRequest tokens) per one Ethereum. At the current Ethereum price (November 15, 2017), it works out to approximately $0.19 per token.  The hard cap for the sale will be 50,000 Ethereum. The tokens will be the only currency used inside of the system, so for each of the Funding and Solving of a contract, FND tokens will be distributed. An interesting note is that a small portion of each transaction will be taken as a fee, and the fees will be burnt. Due to this burning, the remaining supply of tokens will be reduced, introducing scarcity into the system. The FND tokens is a pure utility token, as it is used within the platform. The value of the token will come from the use of rewarding Solvers. Due to the nature of the project, as more people begin to use the platform, more Funder’s will want to offer their bounties. As more Funder’s offer their bounties, more Solvers will come into the platform, thereby creating a positive cycle. Since the token will adhere to the ERC20 standards, it will be able to be traded on a number of exchanges, and the free market will determine the value of the token.

SWOT Analysis

Strengths FundRequest has a strong team with a solid team of advisors. They will be breaking into a market with a viable solution to a serious problem. Their use of smart contracts will create a trustless system, and take out (for the most part) the middle man. Funders and Solvers will be able to work together with complete confidence since the smart contract will remove all uncertainties. 
Weakness The FND tokens is a utility token. If the use of the platform and token are not supported by the community then it will be difficult for the token to have value. There is also an element of difficulty within the platform, as the market may be small for its initial start. It may be competing against other freelancing website for coders.
Opportunities The opportunities for this platform are vast as the use of blockchain technologies is solving a real issue. If successful and adopted, the FundRequest platform could become the go to open source coding and bounty claiming marketplace.
Threats One of the larges threats to the success of the operation is its utility status. As the tokens will be used inside of the platform. Both sets of users will want to use the token, and marketplace. Another threat will be from lack of adaptation as there are other services out there such as Fiverr.


The open source community is vitally important to the overall health and safety of the coding and programming world. Without this peer-reviewed style of authentication a significant source of trust will be lost. However, dealing with burnout and lack of prioritization is a real problem. FundRequest will be solving this issue by allowing coders and programmers to team up with companies who have code to be reviewed. By allowing a trustless system in which both parties are assured of the outcome, they are bridging the gap of trust in the open source ecosystem. Now, thanks to smart contracts, the community will be able to clearly define an area to prioritize their work as rewards will be granted to coders. Battling burnout and loss of interest will be done away with as the programmers and coders will be incentivized via a monetary gain in order to continue their work and provide a quality product. By breaking into this niche industry FundRequest is positioning itself to be a major player in the incentivized open source world. Overall, the presentation of the project is good, there are a few areas that can be improved and are outlined below. After reading through all of the information on the website, a potential investor will be able to make an informed decision concerning partnering with the FundRequest team and investing in their ICO. This is a project that is being developed to form a community. However, since the value of the token is derived from its use, if the community does not rally behind the platform the business venture could falter. The biggest strength of this project may also be its Achilles heel. However, given the size of the open source coding community there should not be a problem adapting to these technologies.  The project aims at delivering value to both sides of the coding world. Giving companies and groups a way to prioritize and entice users to focus on their code, while also giving volunteers a chance to start monetizing their work. What follows is a summary of the P1 suggestions from the entire report.


Founders: Karel Striegel, Davy Van Roy, Gerbert Vandenberghe and Tim Dierckxsens.
Team : Quinten De Swaef, Steve Maris , Nico Haelterman.

Disclaimer This is not an investment advice. It is of paramount importance that everyone should do his or her own due diligence before investing in any product, platform, tokens etc. Cryptocentral.io does not endorse any content or product published on this page. Our aim is to simply provide all the readers with the latest information in the field of cryptocurrency / blockchain industry that might be of interest to our readers.

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