GIVLING 3.0 - How It Works
- This is a competition where each Player tries to collect the most points with the goal to be selected as the recipient of a round of crowdfunding.
- The points are called Queue Points (QPs) and are accumulated or lost through “Spins” on a wheel called the Spinner.
- At the time funding is completed for the current funding recipient, the Player with the most QPs on the Leaderboard will be featured for crowdfunding in the amount of $50,000 in the next GIVLING® crowdfunding round.
- Players can either receive Spins when they crowdfund or they may acquire Spins by watching ads or participating in promotions (collectively, “Incentives”).
- Only crowdfunded Spins advance the crowdfunding goal.
- When Players crowdfund by buying Spins for the game, the net amount after deducting transaction and bank processing fees are allocated as follows: 80% funds the Crowdfunding Queue, 10% funds the Exchange, 10% funds Givling.
- The only thing that Givling guarantees is that paying Players are crowdfunding toward the $50,000 goal in the featured Crowdfunding Queue.
- Incentives may change daily or at intervals expressly designated in Givling.
- Spins expire according to the schedule shown in Givling. If no expiration date is noted, then Spins will expire every 14 days.
- In addition to competing for the most points on the Leaderboard, Players have the option to enter a random drawing to win smaller amounts of money. To enter the drawing, a Player must surrender points through an opt in procedure. The surrendered points are set by the Player and designated as an offer to the “Exchange.” The offered points are deducted from the Player’s account only if they randomly drawn for the Exchange.
- Players who have opted into the “Exchange” will be entered into a random drawing.
- The result of the random Exchange Drawing will reveal a single Player’s name and set a funding goal.
- The funding goal for the Exchange Round is determined by the amount of the chosen Player’s point offer at the Exchange Drawing. The dollar funding goal is calculated based upon the chosen Player’s offered points and the dollar value of those points designated within Givling when offered. In no case will the funding goal or the dollar amount awarded in an Exchange Round exceed $10,000 at a time.
- When the Exchange Round goal is reached, a new Player who has opted into the Exchange is randomly selected in the Exchange Drawing and the process starts again. The Exchange Rounds may occur many times before the $50,000 Crowdfunding Queue goal is reached.
- In summary, Players have two pathways to be funded through Givling:
- Through the featured Crowdfunding Queue for $50,000, and
- Through the random Exchange Drawing equal to a dollar amount matching the points offered (contingent upon the points valuation upon entering the drawing but in no case more than $10,000 per round).
- Players can be chosen for an Exchange Drawing multiple times, until that player reaches the maximum lifetime amount of $50,000.
- Players can be featured for crowdfunding only once for a maximum lifetime amount of $50,000.
- Givling users can be funded for a lifetime maximum of $100,000. This includes all Givling funding sources, including the Crowdfunding Queue and Exchange Rounds.
- Users can simultaneously compete in the Crowdfunding Queue and, at the same time, have Exchange Points offered in the Exchange and be eligible for the Exchange Drawing.
- A Player can designate to exchange all available points or a specific lesser number of points to offer in the “Exchange My Points” page.
- An Exchange toggle in the upper right area next to the Spinner can be used to opt in and out of the Exchange on a Spin by Spin basis.
