On June 15, 2022, EarthFund, a decentralized platform that enables anybody to set up financing DAOs for causes they care about, will go live. The launch involves pilot projects from Deepak Chopra and Dr. Lucy Tweed. Chopra plans to use the platform to raise money for global mental health initiatives. On the other side, Dr. Tweed will start the Carbon Removal cause to fund community-led carbon removal projects.
Why the EarthFund stands out
EarthFund’s user-friendly interface makes it simple for anybody to create a decentralized autonomous organization (DAO) to raise money for a cause they care about. After that, they can use the platform to raise money and provide token holders with incentives. As the blockchain ecosystem becomes more transparent and decentralized, the efficiency of charitable giving will improve significantly.
“We think crypto has an extraordinary capacity to be a big force for good, but it hasn’t been widely adopted yet mainly because of usability,” said Adam Boalt, Co-Founder of EarthFund.
A variety of obstacles have discouraged individuals from donating to worthy charities, and EarthFund is attempting to address them. Key among these concerns is the accountability of finances, with charities normally taking between 26% and 87% of donated monies for “administrative” expenses, while managers typically use the remaining funds whichever way they deem fit.
Each of the three types of DAO members will find something useful in the EarthFund toolbox. Founders can use it to build an ERC-20 token and a DAO with gasless governance on a simple, plug-and-play platform. For users, the site delivers rewards for expressing their voice and voting to further the cause they committed to. For contributors, EarthFund gives a way to donate crypto to professionals dedicated to reviewing initiatives. Furthermore, there’s a mechanism in place for ensuring that their money makes as great impact as possible.