How Milestone payments work

Your first payment will be released on successful completion of onboarding including Proof of Life and agreement on your Statement of Milestones.

The first payment will be your costs up-to completion of Milestone 1 divided between the number of months needed to complete milestone 1.

Milestone Funding Amounts will be paid in equal monthly installments depending on the proposed Milestone Achievement Date for each Milestone. In other words, if a Milestone is scheduled to be completed over a period of 3 months, the Milestone Funding Amount for that milestone will be paid in 3 equal monthly installments.

Example

Total project request: 300,000 ADA

Time to complete: 12 months

Milestones: 6 including completion

M1 cost: 75000 ADA will take 3 months to complete

M2 cost 60000 ADA will take 3 months to complete

M3 cost 45000 ADA will take 2 months to complete

M4 cost 45000 ADA will take 2 months to complete

M5 cost 30000 ADA will take 1 month to complete

M6 cost 45000 ADA will take 1 month to complete

After Proof of Life and agreement of Statement of Milestones a project is set to Live. The first payment will be:

M1 cost 75000 ADA / number of months to complete (3) = 25000 ADA per month (maximum 3 payments) = 25%/75000 ADA divided over 3 months.

Once M1 is marked as complete after achievements have been demonstrated, the next batch will be made based on costs to complete M2 and duration for M2 completion.

M2 cost 60000 ADA - 3 months to complete = 20000 ADA per month

This process continues until the final payment which is made only after the Final Milestone Approval, and submission of a project closeout report and video.