[Transparency Report] October 2023 Transparency Report

Wadiz has been publishing monthly transparency reports since August 2020. A transparency report is a report containing reports submitted by Wadiz members and the results of actions taken against them, and is organized around funding report submission data.Through this report, Wadiz transparently discloses actual data on how it responds to project issuesto create a platform environment where members can use it with greater trust.

1. Report Submission Data

• The number of reports received is measured based on the number of reports submitted through the 'Report' 'Report' function on the right side of the funding project page, and if there are multiple reports for a single project, they are counted as plural according to the number of reporters.
• The types of reports received include ‘intellectual property infringement’, ‘false information in stories’, ‘distribution of identical products through other channels’, ‘community policy violations’, etc. and are comprised of reasons that go against the purpose of funding or undermine Wadiz community order.
• Report submission data is a key indicator showing potential risks that can directly or indirectly cause supporter damage and complaints.

<October Report Submission Data>

2. Number of Reported Projects

• ‘Number of reported projects’ refers to the number of projects that received one or more reports, and if multiple reports are submitted, projects with the same report target are counted as one.
• The proportion of reported projects compared to open projects is a key indicator representing the proportion of projects among all projects that may cause supporter damage and complaints.

<Monthly Number of Reported Projects>

3. Pre-Launch Report Ratio

• ‘Pre-Launch’ refers to a pre-disclosure service that allows supporters to review a project story before the official funding launch.
  On the pre-launch project page, a notification request function is provided when the official funding is launched.
• Reports at the pre-launch stage function to detect risks before official project launch, and through this, proactive problem-solving is possible before official funding launch.

<October Pre-Launch Project Report Ratio>

4. Statistics by Reported Project Category

• This is categorized data of projects that received reports in the current month.
• In the current month, out of 17 total project categories, 9 categories received reports.

<October Reported Project Category Statistics>

5. Report Project Processing Results

• All reports submitted that meet the reporting requirements are undergoing fact verification.
• For projects where issues are confirmed, follow-up actions are taken according to the funding report policy.
• During the fact-checking process, Wadiz requests clarification through official correspondence when necessary from the maker, and if necessary, discloses the report facts and clarification request contents to supporters as news.

<October Report Project Processing Status>

• Processing Completed
  As a result of fact verification on reports that meet the reporting requirements, if the report is determined to have 'issues' based on policy and follow-up procedures such as refunding, deletion of inappropriate content, or project cancellation are in progress, or if the report meets the requirements and as a result of fact verification, the report is determined to have 'no issues' based on policy and the case is closed without follow-up procedures.
• Processing In Progress
  If fact verification is in progress on reports that meet the reporting requirements, or if the report is determined to have 'issues' based on policy and follow-up procedures are in progress.
• Processing Not Required
  Reports where ‘requirements are not met’ or ‘previously concluded issues’, and no follow-up procedures have been taken.

⁕ Reports with unmet requirements: Reports submitted where the requirements are not met, or where supporting evidence is insufficient to support the report, making it difficult to proceed with follow-up procedures.

⁕ Previously concluded issues: Issues where the requirements are met, but based on the current month, fact verification was already conducted in the past and the issue was determined to have ‘no issues’ and concluded, or where necessary measures have been completed through ‘project cancellation’ or ‘refunding’, making follow-up procedures unnecessary.

6. Service Monitoring Data

• Wadiz is constantly working to build and protect a safe funding ecosystem that users can trust.
  
• Service monitoring data is the number of service monitoring activities and action data being conducted by the Trust and Safety Team.
• In October, a total of 1,590 monitoring activities were conducted through service monitoring, and actions were taken in 73 cases.

<October Service Monitoring Results>

• Types of Wadiz Service Monitoring

⁕ Distribution of identical products through other channels monitoring: If rewards from a funding project are sold through other channels with products identical to the rewards or if funding is conducted before the rewards are sent, they are included in the monitoring targets for distribution of identical products through other channels.

⁕ Monitoring for uses beyond news purposes: If news is written with information unrelated to the original purpose of project progress (promotion of other sales channels, link guidance, etc.), they are included in the monitoring targets for uses beyond news purposes.

⁕ Monitoring for funding achievement rate manipulation : If a maker or a third party with a conflict of interest intentionally participates in funding to increase the project's funding achievement rate, they are included in the monitoring targets for achievement rate abuse.

⁕ Story false information monitoring: If suspicious circumstances of false information in project stories are confirmed, they are included in the monitoring targets for story false information.

For questions regarding the Transparency Report, please contact Wadiz Trust and Safety Team (team.trustsafety@wadiz.kr) and we will provide answers.