EarthFund, a decentralized platform that allows anyone to set up funding DAOs for causes they care about, is launching on June 15, 2022.
Following stories such as ConstitutionDAO or UkraineDAO, the concept of creating a Decentralized Autonomous Organization to fund real world causes has become mainstream. Previous attempts, while perhaps situational and ultimately not that impactful, were a great showcase of the power of incentives and the force crypto can play for good.
Unfortunately, setting up a funding DAO was strictly a task for experienced Solidity developers, a class of programmers in extremely short supply. Regular companies and individuals were unable to set up the infrastructure required for a , which limited the potential impact of the technology.
With EarthFund, the situation changes completely. Everyone can use its intuitive UI to set up their funding DAO for a cause they love, to be able to create the real and meaningful impact they are aiming for. Users can attract funds, and offer token holders both a genuine say in the project and the incentive needed to turn the dream into reality.
The EarthFund toolkit is made for all three classes of participants in DAO initiatives. For founders, it offers an intuitive, plug-and-play platform that allows launching an ERC-20 token and DAO with gasless governance. For users, the platform brings rewards for using their voice and voting to advance the cause they committed to. For donors, EarthFund offers a place to donate crypto to people dedicated to vetting projects and making sure the money makes as large of an impact as possible.
The launch brings pilot initiatives by Deepak Chopra, who will focus on raising funds for mental health projects around the world, and Dr. Lucy Tweed, who will launch the Carbon Removal cause to support community-led carbon removal projects.
“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,” commented Chopra. “By launching causes like ours, the EarthFund platform won’t just change the crypto space, but make the whole world a better, happier place.”
EarthFund aims to solve a number of issues that have disillusioned people from donating to worthwhile causes. Chief among them is the accountability of funds, with charities usually taking between 26% and 87% of donated funds for “administrative” purposes, while the remainder is deployed as the creators see fit. The decentralized governance model, as well as the transparency of the blockchain ecosystem, can make a dramatic impact on charity giving efficiency.
“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,” said Adam Boalt, Co-Founder of EarthFund. “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.”