[Transparency Report] October Transparency Report - Focused on Key Funding Data #TrustAndFundWithWadiz

Wadiz has been publishing monthly transparency reports since August 2020. 

The Transparency Report contains reports submitted to Wadiz by members and the results of actions taken in response. Through this report, we aim to disclose actual data to our members about how Wadiz manages and responds to project issues. Wadiz does not just voice the goal of minimizing project risks; rather, we transparently disclose the current status of our response to issues, creating a platform environment where members can trust and use it.

1. Number of Reports Received in October 

• The number of reports received was measured based on reports received through the "Report" function on the right side of the funding project page, and when there are multiple reports for a single project, they are counted as multiple according to the number of reporters.
• The number of reports received is a key indicator showing potential risks that could directly or indirectly cause supporter damage and complaints.
• Report types include intellectual property infringement, false statements in stories, distribution of the same product through other channels, community policy violations and other reasons that contradict the purpose of funding or undermine the Wadiz community order.
• The funding project reporting function underwent service revision on October 6, with some changes to report types*; until October 5, reports were received under the existing report types

* "Maker Contact Loss" is consolidated under the "Other" type, and "Social Public Interest Harm" is consolidated under the "Community Policy Violation" type

2. Number of Pre-Open Project Reports in October

• "Pre-Open" is a pre-disclosure service that allows supporters to preview project stories before official funding begins, and the pre-open project page provides a feature to sign up for funding open notifications.
• Previously, only ongoing projects could be reported, but pre-open projects were also made reportable through service revision, enhancing the function to detect project risks in advance

3. Number of Projects Subject to Reports in October

• The number of projects subject to reports means the number of projects with one or more reports, and even if multiple reporters submit reports, if the target project is a single one, it is counted as 1
• However, this figure also includes the number of reports that were determined to be "No Issues" after fact verification following report submission.
• The ratio of projects subject to reports relative to the number of open projects is a key indicator representing the proportion of projects among all projects that could cause supporter damage and complaints

4. Statistics by Category of Reported Projects in October 

• All funding projects at Wadiz are classified as one of 16 category types 
• As a result of categorizing 46 project reports received in October, Tech & Home Appliances, which was the most reported category in the previous month, was selected as the most reported category type in the current month

5. Results of Report Actions in October

• As a result of fact verification, if product defects and shipping delays are confirmed, guidance on funding refund requests is provided according to the "Funding Refund Policy"
• During the fact verification process, when a maker's statement is required, a statement is requested through official notice, and if the maker fails to provide a statement, the report and statement request contents are disclosed through news updates

* If the reporting requirements are not met, subsequent procedures will not be conducted

*Non-qualifying Reports: Cases where reporting requirements are not met or there is insufficient supporting evidence to support the report content, making it difficult to proceed with subsequent procedures 

*Closed Issues: Cases where reporting requirements are met but fact verification was already conducted in the past as of the current month, determined to be "No Issues" and closed, or where "Project Cancellation" or "Funding Refund" etc. have been completed through necessary measures, making it unnecessary to proceed with subsequent procedures 

*Issue Resolution Completed: Cases where reporting requirements are met and as a result of fact verification of the report content, it is determined to have "Issues" based on policy, and subsequent procedures such as funding refunds, project cancellation, or deletion of inappropriate content are conducted 

*Issue Resolution In Progress: Cases where reporting requirements are met and fact verification of the report content is in progress, or where it is determined to have "Issues" based on policy and subsequent procedures are in progress 

*No Issues Determined: Cases where reporting requirements are met and as a result of fact verification of the report content, it is determined to have "No Issues" based on policy and closed without any subsequent procedures   

6. Results of Pre-Open Project Report Actions in October

If you have any questions regarding the above content, please contact us at the official Wadiz email (info@wadiz.kr) and we will provide a response.