[Transparency Report] March 2021 Transparency Report - Focusing on Key Funding Data #TrustAndFundWithWadiz

Wadiz has been publishing a monthly transparency report since August 2020. The Transparency Report is a report containing the details of reports submitted by members to Wadiz and the resulting measures taken, centered on funding report data. Through this report, we aim to transparently disclose the actual data on how Wadiz responds to project issues, creating a platform environment where members can use the service with greater confidence.

1. Number of Reports Received

• The 'number of reports received' is measured based on the number of reports submitted via the ‘Report’ feature on the right side of the funding project page; if multiple reporters submit reports against a single project, each reporter's submission is counted separately.
• The types of reports received include ‘intellectual property infringement’, ‘false information in the story’, ‘distribution of the same product through other channels’, ‘violation of community policy’, and other reasons that go against the purpose of funding or undermine the Wadiz community order.
• The number of reports received is a key indicator showing potential risks that could directly or indirectly cause damage and dissatisfaction among supporters

2. Number of Reports for Pre-open Projects 

• ‘Pre-open’ refers to a pre-disclosure service that allows supporters to preview a project's story before the official funding launch; the pre-open project page offers a feature to sign up for notifications when the funding officially opens.
• Reports submitted during the pre-open stage serve the function of detecting risks before the official project launch
• By receiving and processing reports at the pre-open stage, issues can be proactively resolved before the official funding launch

3. Number of Reported Projects

• ‘Number of reported projects’ refers to the number of projects that have received at least one report; even if multiple reporters file reports, if the target project is a single project, it is counted as 1.
• However, this figure also includes cases where, after fact-checking following receipt of a report, the report was determined to be 'no issue found'.
• The ratio of reported projects to the total number of open projects is a key indicator representing the proportion of projects among all projects that could cause damage and dissatisfaction to supporters

4. Statistics by Category of Reported Projects

• This data classifies the projects for which reports were received in the current month into 16 funding categories  

5. Processing Results for Reported Projects 

• All reports submitted that meet the requirements are subject to full fact-checking, and measures such as refunding of funding amounts and deletion of inappropriate content are carried out.
• If a maker's explanation is required during the fact-checking process, a formal letter is sent to request the explanation; if the maker fails to provide the explanation, the report and the request for explanation are disclosed through a news update.

*Insufficient Requirements: Cases where the reporting requirements are not met, or where there is insufficient supporting evidence to proceed with follow-up procedures  

*Processing Complete: Cases where the reporting requirements are met and fact-checking of the report content was conducted, resulting in a determination of ‘issue found’ based on policy, leading to follow-up procedures such as refunding of funding amounts, deletion of inappropriate content, and project cancellation. Or cases where the reporting requirements are met and fact-checking was conducted, resulting in a determination of ‘no issue found’ based on policy, and the case was closed without follow-up procedures.

*Processing In Progress: Cases where the reporting requirements are met and fact-checking of the report content is ongoing, or where a determination of 'issue found' has been made based on policy and follow-up procedures are in progress 

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