Key Takeaways
- EarthFund to launch a DAO-as a service system that will help fund real-world causes
- The new EarthFund system will simplify the processes of creating funding DAOs, equipping all participants with the tools they need to drive worthwhile causes
- The EarthFund system will launch with two pilot initiatives, NeverAlone (to battle mental health crisis), and Carbon Removal (to support community-led carbon removal projects)
- EarthFund can have a dramatic impact on charity giving efficiency, helping to make the world a better and happier place
EarthFund (1EARTH), a decentralized platform that aims to solve as many real-world problems as possible, is set to launch a system that will simplify setting up DAOs for noble causes and funding them. The new project will launch on June 15, 2022.
The concept of creating decentralized autonomous organizations (DAOs) for real-world causes has become mainstream, following the stories of projects like ConstitutionDAO and UkraineDAO. Regardless of the outcomes of previous attempts, crypto proponents now understand the limitless power of blockchain technology and how it can be applied to create positive changes.
Simplifying the Process of Creating and Funding DAOs
Not too long ago, setting up a DAO was a big deal, and only experienced Solidity developers dared. Considering that this class of programmers is in short supply, there has been a need to simplify the process. EarthFund has cracked the code and is set to make the necessary infrastructure available to everyone.
With the launch of its latest system, Eathfund will make setting up funding DAOs as easy as possible. The infrastructure includes an intuitive UI that can be used by anyone to create a funding DAO for a cause he/she believes in. The system also provides users with everything they need to attract the necessary funds for their projects and give token holders a say in how the organization is run.
A Complete Tool-Kit to Turn Dreams into Realities
Though the primary goal of EarthFund’s new project is to simplify the processes of setting up a funding DAO, it is a complete package made for all three classes of participants in DAO initiatives.
For intending founders, EarthFund provides an intuitive, plug-and-play platform that greatly simplifies the processes of launching an ERC-20 token and DAO with gasless governance.
For DAO users, the EarhFund platform provides incentives for lending their voices and voting to advance the causes they believe in and are committed to.
For donors, EarthFund provides a reliable platform where they can donate crypto without fear. It gives room for vetting projects and monitoring donations to ensure that funds make as much impact as possible.
Launching With a Duo of Great Initiatives
The launch of EarthFund’s “DAO-as-a-service” system will usher in two pilot initiatives from Deepak Chopra and Dr. Lucy Tweed. While the former will focus on raising funds for mental health projects around the world, the latter will launch a “Carbon Removal” cause to support community-led carbon removal projects.
Speaking about his initiative and the new EarthFund system, Chopra enthused:
“We’re seeing a shift in the crypto space from a focus on short-term profits to using it to build a better future for everybody. That’s why we partnered with EarthFund to launch our NeverAlone token and democratize and decentralize the way that projects focused on tackling the mental health crisis get the funding they need to make a difference. By launching causes like ours, the EarthFund platform won’t just change the crypto space, but make the whole world a better, happier place.”
Sanitizing the “Charity” Space and Helping People Donate to Worthwhile Causes
By launching the DAO-as-a-service system, EarthFund will eliminate some of the issues that prevent people from donating to causes they believe in, especially accountability issues. Many people refuse to donate to causes they believe in when they are not sure that donated funds will be properly managed and accounted for.
The problem with many charities is that between 26% and 87% of donated funds are used for “administrative” purposes. The rest of the funds are used just as the organizers see fit. Some notorious charities embezzle up to 90% of donated funds without facing any major backlash. The new EarthFund system will solve these problems.
Thanks to the transparency of the blockchain ecosystem, it will be impossible for individuals and groups of individuals to run fraudulent charity organizations. The decentralized governance model empowers every participant of a DAO with governance rights, meaning everyone can vote to determine how the organization is run. This also implies that everyone in a charity-focused DAO (founders, users, and donors) will vote to determine how funds are deployed.
Speaking about the potential impact of the incoming project, EarthFund’s co-founder, Adam Boalt, said:
“We think crypto has an unparalleled opportunity to be a massive force for good, but it hasn’t been fully adopted yet mainly because of usability. So far, crypto native folks have spent their energy on often frivolous causes, such as trying to buy a piece of paper or a virtual monkey profile picture, but with EarthFund, we’re focused on making crypto accessible so everyone can harness its potential and help truly world-changing causes to get the funding they deserve.”
