[Transparency Report] April 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 composed primarily of crowdfunding report receipt data. Through this report, Wadiz transparently discloses actual data on how it responds to project issuesto create a platform environment where members can trust and use with greater confidence.

1. Report Receipt Data

• The number of reports receivedis measured based on the number of reports received through the 'Report' feature on the right side of the funding project page , and when there are multiple reports for a single project, they are counted as multiples according to the number of reporters. 
• The types of reports receivedinclude 'Intellectual Property Infringement', 'False Information in Story', 'Other Channel Distribution of Identical Products', 'Community Policy Violation', etc. These are issues that contradict the purpose of crowdfunding or undermine the Wadiz community order.
• Report receipt data represents a key indicator showing potential risks that could directly or indirectly cause supporter damage and complaints.

<April Report Receipt Data>

2. Number of Reported Projects

• 'Number of reported projects' refers to the number of projects that have received one or more reports, and even if multiple reports are received, if the target project is the same, it is counted as one.
• The proportion of reported projects relative to open projects is a key indicator representing the proportion of projects within all projects that could cause supporter damage and complaints.

<Monthly Number of Reported Projects>

3. Coming Soon Report Ratio

• 'Coming Soon' refers to a pre-release service that allows supporters to preview a project story before the official crowdfunding begins.
  The Coming Soon project page provides a notification request feature for when the official crowdfunding opens.
• Reports at the Coming Soon stage serve as a pre-risk detection function before project official opening, and through this, proactive problem resolution is possible before official crowdfunding opening. 

<April Coming Soon Project Report Ratio>

4. Statistics by Report Project Category

• This is category-wise classification data of projects that received reports in the current month.
• In this month, 13 categories received reports out of a total of 17 project categories.

<April Report Project Category Statistics>

5. Report Project Processing Results

• All reports that meet the reporting requirements proceed with fact verification.
• For projects where issues are confirmed, follow-up measures are taken in accordance with the crowdfunding report policy.
• Wadiz requests clarification from makers when their clarification is needed during the fact-checking process through official notice, and when necessary, discloses the fact of the report and the contents of the clarification request to supporters through updates.

<April Report Project Processing Status>

• Processing Completed
  As a result of fact-checking reports that meet reporting requirements, it is determined as 'Problem Exists' based on policy and follow-up procedures such as refund, deletion of inappropriate content, project cancellation, etc. are carried out, or reports that meet reporting requirements are fact-checked and determined as 'No Problem' based on policy and concluded without follow-up procedures.
• Processing In Progress
  When fact-checking is in progress on reports that meet reporting requirements, or follow-up procedures are in progress as it is determined as 'Problem Exists' based on policy.
• Processing Not Required
  Cases of 'Non-compliant Reports' or 'Previously Concluded Issues' where no follow-up procedures were carried out.

⁕ Non-compliant Report: A report that fails to meet reporting requirements or lacks sufficient evidence to support the report content, making it difficult to proceed with follow-up procedures.

⁕ Previously Concluded Issue: An issue that meets reporting requirements but, as of the current month, fact-checking was already conducted in the past and determined as 'No Issue' and concluded, or necessary measures have been completed through 'Project Cancellation' or 'Refund', making further follow-up procedures unnecessary.

6. Service Monitoring Data

• Wadiz is constantly striving to build and protect a safe crowdfunding ecosystem that service users can trust.
  
• Service monitoring datais the number of service monitoring activities and action data conducted by the Trust & Safety Team.
• In April, a total of 4,096 monitoring activities were conducted through service monitoring, and among these, 456 cases involved actions.

<April Service Monitoring Processing Results>

• Wadiz Service Monitoring Types

⁕ Other Channel Distribution Monitoring of Identical Products: When a reward from a crowdfunding project is sold through other channels before the reward is sent, or crowdfunding is conducted for the same product, it is included in the monitoring target for other channel distribution of identical products.

⁕ Update Use Monitoring Beyond Intended Purpose: When information unrelated to the original purpose of project progress (promotion of other sales channels, link guidance, etc.) is written in Updates, it is included in the monitoring target for update use monitoring beyond intended purpose.

⁕ Crowdfunding Achievement Rate Manipulation Monitoring : When a maker or a third party with an interest in the maker intentionally participates in crowdfunding to increase the project's achievement rate, it is included in the monitoring target for achievement rate abuse monitoring.

⁕ Story False Information Monitoring: When suspected false information is found in the project story, it is included in the monitoring target for story false information monitoring.

For any questions related to the above, please contact the Wadiz Trust & Safety Team (team.trustsafety@wadiz.kr)and we will provide answers.