[Transparency Report] December 2023 Transparency Report

Wadiz has been issuing monthly transparency reports since August 2020. A transparency report is a report containing complaints received from Wadiz members and the action results on such complaintsand is structured around funding complaint receipt 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. Complaint Receipt Data

• The number of complaint receipts is measured based on complaints received through the ‘Report’ feature on the right side of the funding project page , and if there are multiple complaints for a single project, they are counted as multiples according to the number of complainants. 
• Complaint receipt types include ‘Intellectual Property Rights Infringement’, ‘False Facts in Story’, ‘Distribution of Identical Products Through Other Channels’, ‘Community Policy Violations’, etc. These are reasons that contradict the purpose of funding or undermine Wadiz community order.
• Complaint receipt data represents a key indicator showing potential risks that can directly or indirectly cause supporter damage and complaints.

<December Complaint Receipt Data>

2. Number of Reported Projects

• ‘Number of reported projects’ refers to the number of projects with one or more complaint receipts, and even if multiple complaints are received, if the complaint target project is the same, it is 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 can cause supporter damage and complaints.

<Monthly Number of Reported Projects>

3. Coming Soon Report Rate

• ‘Coming Soon’ refers to an advance preview service that allows supporters to check the project story before official funding begins.
  On the Coming Soon project page, a notification request feature is provided for when the actual funding opens.
• Reports at the Coming Soon stage function as early detection of risks before official project opening, enabling proactive problem-solving before official funding opens. 

<December Coming Soon Project Report Rate>

4. Reported Project Statistics by Category

• This is categorical classification data of projects with complaints received in the current month.
• In the current month, 9 out of a total of 17 project categories received complaint reports.

<December Reported Projects Statistics by Category>

5. Complaint Project Processing Results

• All complaints meeting complaint requirements are undergoing fact verification.
• For projects with confirmed issues, follow-up actions are taken in accordance with the funding complaint policy.
• Wadiz requests clarification from makers when needed during the fact-checking process by sending official correspondence, and when necessary, discloses the complaint facts and clarification request contents to supporters as news updates.

<December Complaint Project Processing Status>

• Processing Completed
  As a result of fact verification on complaint contents meeting complaint requirements, if determined as ‘problematic’ based on policy and follow-up procedures such as funding refund, inappropriate content deletion, and project cancellation are in progress, or as a result of fact verification on complaint contents meeting complaint requirements, if determined as ‘no problem’ based on policy and closed without follow-up procedures
• Processing In Progress
  If fact verification is in progress on complaint contents meeting complaint requirements, or if follow-up procedures are in progress after being determined as ‘problematic’ based on policy
• Processing Not Required
  In case of ‘complaints not meeting requirements’ or ‘previously concluded issues’, when follow-up procedures have not been undertaken

⁕ Complaints not meeting requirements: Complaint receipts that fail to meet complaint requirements or lack supporting materials to back up the complaint contents, making it difficult to proceed with follow-up procedures

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

6. Service Monitoring Data

• Wadiz is constantly making efforts to build and protect a safe funding ecosystem that service users can trust.
  
• Service monitoring data is the number of service monitoring activities and action data being conducted by the Trust & Safety Team.
• In December, through service monitoring, a total of 1,863 monitoring activities were conducted, of which 107 cases were subject to action.

<December Service Monitoring Results>

• Types of Wadiz Service Monitoring

⁕ Distribution of Identical Products Through Other Channels Monitoring: If the reward of a funding project is sold through other channels with the same product before the reward is sent out, or if funding is raised through other channels, it is included in the monitoring targets for distribution of identical products through other channels.

⁕ Monitoring for Use Outside the Purpose of News Updates: If news updates contain information unrelated to the original purpose of project progress (promotion of other sales channels, link guidance, etc.), it is included in the monitoring targets for use outside the purpose of news updates.

⁕ Funding Achievement Rate Manipulation Monitoring : If a maker or a third party with an interest relationship with the maker intentionally participates in funding to increase the project's funding achievement rate, it is included in the monitoring targets for achievement rate abuse.

⁕ Story False Facts Monitoring: If suspected evidence of false facts in the project story is confirmed, it is included in the monitoring targets for story false facts.

For inquiries related to the Transparency Report, please contact Wadiz Trust & Safety Team (team.trustsafety@wadiz.kr)and we will be happy to assist.