GLO is a centralized stable coin like USDT and USDC but the profits go to GiveDirectly instead of to shareholders
The data is here (you can find the contract address for every chain here too):
They have a deployment on every chain we have except Gnosis and even tho celo and optimism dont have a lot of liquidity, I think we should add them anyway, as they will soon.
I also want to add pyUSD, this is also centralized and backed by Paypal… Hopefully we could use this so that eventually anyone with paypal can donate on Giveth.
Hello!
I want to suggest to add a stable token to this list: BREAD!
You can think of it as a local currency that funds post capitalists (web3) projects. How?
It is 100% backed by DAI: it is only minted (baked) by depositing DAI on the crowdstaking application. Try it out here!
ReGM!! I would like to propose that $BUZZY on Solana be added to the list of tokens that can be donated on the Giveth platform.We will be directing funds generated the project to Airbeenbee.xyz which is a charity verified on Giveth. Please let me know if this is possible!!
Would like to propose adding $EARTH as a token with which the community can grownate to projects on Giveth.
$EARTH is a digital currency that is purely backed by regenerative real world assets. Simply by holding $EARTH you fund projects directly addressing climate change and catering to humanities core needs.
Treasury funds projects from the following sectors -
Clean Energy
Regen Agri
Clean Transport
Ecosystem Conservation
Solarpunk spaces/eco villages
All projects funded by the treasury are also earning real yield for the services they provide to society.
We currently have 5 real world projects from Clean Energy, Regen Agri and Eco Village sectors backing all $EARTH in circulation.
We think grownating with $EARTH on Giveth is a powerful combination as the currency is by default regenerating the real world and using it as a medium of exchange to fund more IMPACT on chain can really create a great example of the regen flywheels we can create in web3.
Happy to answer any queries emerging from this post.
Warm Solarpunky regards,
Utkarsh
PS - We are launching a native point system soooon to incentivize $EARTH being used as a medium of exchange and would love it if Giveth is the first place we can do it on.
As a user I would definitely love to see the opportunity to grownate in $Earth and it could potentially motivate a lot to do it using this token.
How could we make sure projects keep $Earth and don’t trade it when they receive their donations? I was under the impression that it should be HODLed.
But then yes, hopefully Giveth will take it into consideration. Not sure what’s the proper liquidity pool size that should be achieved but wishing you all the best to make it to the list of eligible to donate and eligible to GIVbacks tokens
I think HODLing $EARTH is quite lucrative with the APYs we offer - 20-42% (cobination of real + crypto yield) depending on your contribution to grow $EARTH so projects can decide to hodl $EARTH received as grownations while using the matching amounts for their operations.
Liquidity pool amount might look small in absolute nos but its 20% of Mcap. As token supply increases, LP will also increase proportionately.
I would love to see $EARTH as an option. The idea of programable money is cool. Programing that money to automatically help keep the Earth cool and livable is the true promise of ReFi. Great step in the right direction if you ask me.
I think listing it as a donateable token on the App shouldn’t be a problem, however you’ll need significantly more liquidity to allow it to be GIVbacks eligible - somewhere in the realm of $100k
You mentioned the token is backed by regenerative real world assets, what would those be? Do you have documentation to back that up?
We require relatively deep liquidity to mitigate attack vectors on the GIVbacks program since the amount of GIVbacks depends on the dollar value of the token donated.
If you go through these tweets you will find the details of the projects and in the replies we have posted the transaction to the assets we have funded -
Eco Village in Lisbon by Traditional Dream Factory - x.com
We have details of 3 on these on our current website, havent put others up as our new website goes live this week and you will find detailed descriptions of all projects there.
I understand the need for deep liquidity otherwise donors could pump the price, get eligible for more Givbacks in low liquidity pools.
$EARTH is designed as a range bound currency which means the real world assets backing each $EARTH provide a floor value and pricing positive externalities in terms of ecosystem services and solarpunk values creates a soft ceiling. You can see the price chart so far to see how it operates - https://dexscreener.com/polygon/0x40da612b7803892ed002e4f9effd746dc3cf4a5c
You can mint unlimited $EARTH at the protocol level simply by paying 10 $DAI for each $EARTH. When anyone mints $EARTH, the corresponding $DAI is directly funneled into regen projects.
So whenever the price pumps on the Dex due to higher demand, NODES (wallets eligible to mint) are incentivized to mint at the protocol and sell it on the dex to make the difference. This means higher demand for $EARTH would never be able to pump the price but rather will incentivize NODES to mint more $EARTH that can be funneled into regen projects.
Having said this, it is always possible $EARTH price drops due to excessive sell pressure but in that case the donor is eligible for lesser Givbacks so i am assuming that is not a real concern for Giveth.
As a protocol we will always ensure that the LP value is atleast 20% of $EARTHs market cap, so as $EARTH grows so will LP.
Hoping the explanation addresses potential attack concerns. Tokenomics governing $EARTH do not have an exact precedence because they are uniquely designed to funnel more money into real world projects than pump price, so feel free to shoot any queries that may arise from my explanation here.
I admire what you guys are doing with $EARTH, fueling that DAI to Regen projects, and appreciate the explanations detail.
Unfortunately, I don’t think we can make EARTH GIVbacks eligible because there isn’t enough liquidity on DEXs to prevent the price volatility right now. I think as the market cap increases and the LP increases, we can revisit… but right now, in order for a token to be GIVbacks eligible our rule of thumb is that a swap of $10k to the token needs to have less than 2% price impact, but if I tried to swap 10k DAI for EARTH it would have an 80% price impact. This kind of impact would make the GIVbacks program too vulnerable to attacks.
We can add the token to the list to be donated! It just won’t have the GIVbacks eligible label.
Keep us in the loop though as the market cap increases, so that we can look again once it grows!
