- How do I sign up for this website?
Click on Register tab on the homepage and enter your details. You will receive an email with the activation link. After activating the link you will be able to successfully log in to ObenUp.com
- Will I be able to earn money from by posting ideas?
No. All the money you see on the website is virtual only. You cannot redeem the wallet worth for anything unless specified by the ObenUp.com adminstrator or Oben.me adminstrator.
- How old do I have to be to enroll?
This version of the site is specifically aimed at teenagers. You have to be 13 years or older.
- What is pledge?
When you like a project that is posted on the Obenup.com and you want to show your support, you can show your support by pledging some amount of money from your wallet (virtual) towards the project.
- What do I get by pledging for a project?
Your Pledges are similar to investments in other's projects. If a Project meets its goals, then you get 5X of your Pledge amount back as a return on your investment.
- What is the difference between flexible and fixed funding?
Fixed Funding is when the amount transfer to project owner only happens when it reaches the needed amount within the project end date.
- What is end date?
This is the last date by when your project/ idea should be pledged for. Beyond this date the idea will not be displayed or available for funding/ pledging.
The end date cannot be more than a year from the date of project/ idea posting.
- What is percentage funded mean?
This is the percentage amount of pledges you have received with respect to the final goal that you have.
- Who are the target audience viewing my ideas?
Your friends, peers at school, and any user on ObenUp.com can view the projects listed.
- Are all projects featured by ObenUp.com?
Although ObenUp.com displays all the projects/ ideas that qualify the initial check from the administrator, it is upto the discretion of the Oben team to feature the projects best suitable for the company.
- Can everyone view my profile and what can they see on it?
Your profile is inaccessible to other users, unless you posted a comment or pledge for a project. If you do either of the things, you will be visible to other on ObenUp.com. The users can only view your display name, location and when you joined ObenUp.com. Users can message each other via the message option on the website.
- How does the project pledging system work?
When a user registers for ObenUp.com there is a default 100 Oben dollars credited to your ObenUp wallet. You can use this as your fund to invest into projects or pay listing fee for projects that you post on ObenUp.com.
When you are posting a project on ObenUp.com there are few funding options that you can select from- fixed funding and flexible funding. If you choose fixed funding, it means that you will be able to cash the investor's money only after there is enough or more money pledge for the project. It is an all or nothing scenario.
If you choose the flexible funding scenario, you can cash out the money invested into your ObenUp wallet, even if the project does not receive the required amount that was anticipated.
- Why would anyone prefer the fixed funding option over the flexible funding, if they can more Oben dollars in flexible funding?
In flexible funding, any investor who pledges for a project receives only 2x times his pledge amount on the end date of the project whereas an investor in fixed funding gets 4x his returns. This would encourage and drive the investors to invest in a fixed funding project than in flexible funding project model and hence the chances of the user who posted the project, achieving his goal is higher.
- What do I do with all the Oben dollars I accumulate?
You can use these Oben dollars to redeem for special Oben merchandise and any other merchandize of ObenUp.com partners.
- What does fixed and any amount pledge mean?
In fixed pledges the user posting the project decides that each investor can only buy pledge a maximum of some amount on the project, where as in any amount funding, you could have a user pledge any amount he/she wants. It has no upper or lower limit.