EarthFund update | November 2023
Get ready to vote on the next step in our path to full decentralization
Next month, we’re starting the process toward full decentralization and we need your help to get there.
👋 We’re EarthFund, the decentralized platform using blockchain, decentralization, AI, and crypto to revolutionize the giving economy and give you more of a voice in the shape of tomorrow.
This is our November 2023 update in which we’ll mostly focus on our efforts to make EarthFund more decentralized and ready to go global.
Happy November, Earthlings!
This update is going to be a little different from normal as we switch focus from building the platform to growing the platform and brand awareness.
But before we get into that, a couple of quick notes on the platform.
We’re seeing lots of interest in the platform 🚀
Since 2.0 went live, we’ve had 50+ users create and launch communities on the EarthFund platform.
Now, those numbers aren’t anywhere near where we want EarthFund to be — or where we know it can be — but for a platform that has been in stealth mode during the crypto winter, it’s a massive step in the right direction.
On top of that, it’s a concrete validation of our thesis that making it easier to set up a community (through AI and smoother onboarding) will result in more communities being launched.
We’re not seeing a huge number of communities claimed 🔧
While we’re not seeing huge numbers of people launching communities yet, this isn’t a surprise.
In fact, it’s exactly what we expected.
On top of the fact that market and macroeconomic conditions (both crypto industry and the wider economy) have seen a huge drop in interest in Web3.0, any product that lets you build a website — which, in many ways, is what EarthFund does — always has a delay between those first experiments and launching a product.
Human beings don’t have an idea and then launch it out into the world within a few hours.
We have an idea. We test it out to see it in real life. We close the tab. We think about it. We revisit to tweak it. We think some more. Then we launch.
It’s why Squarespace offers a 14-day trial to new users.
It’s why Webflow and Framer are built on a free-until-launch model.
However, that doesn’t mean that we’re just waiting for people to take action.
After the community vote (which we’ll talk about in a second) we’re going to get back to reaching out to non-profits, charities, and philanthropic individuals to use the EarthFund platform.
We’ll be leaning on our track record of raising donations fast (did somebody say $100K in a day?), our press coverage, and our partnerships with other non-profits.
By reaching out to non-profits that are already committed to fundraising, we’ll be able to build a platform full of active decentralized communities and build a ton of social proof.
We’ll also start marketing the platform more aggressively — just like we did before — to get new users interested in launching a decentralized fundraising community.
But all of that is Stage 2. What comes first is adding Earthlings to our decentralized team.
And that all starts with our next proposal.
Get ready to vote on our next Snapshot proposal đź‘Ť
On November 8th, we’re going to be publishing a vote on Snapshot to push back the start of team and investor token vesting until June 1st 2024.
(These vest over the course of 5 years and will be programmatically liquidated to not affect the market except for increasing the circulating supply.)
If that vote passes, we’re going to speak to the investors and team to hold a vote on donating a significant portion of their tokens to the EarthFund DAO to set it up with a treasury that it can use to really make a difference.
Right now, the DAO has $619,949.39 under management.
To grow EarthFund into what we know it can be — and to cover operating expenses like exchange fees, market making (providing liquidity to the exchanges), hosting, and software costs — we need a bigger budget than this.
So we’re going to propose a vote that postpones the vesting until we can speak to the investors and see if we can all prime the pump for the decentralized team to get off to a flying start.
(Think liquidity for new exchanges, money for marketing, etc…)
Why do we think our investors will do this?
Firstly, because a rising tide lifts all boats. We’ll all be better off if EarthFund is a roaring success.
Secondly, because we’re all invested in seeing EarthFund succeed.
For the last 9 months, most of the work on the platform has been funded out of pocket by our founders OR carried out by our team volunteering their time. That’s how dedicated we are to the project. We saw an opportunity to pivot and make EarthFund stronger, so — despite using all of the treasury budget for EarthFund 1.0 — we made it happen.
Our two asks for you, the EarthFund community
1. Help us bring more people into the community and onto the team.
We’ve been quietly building for a while during the crypto winter, but now it’s time to start getting loud and assembling the world-changing Avengers.
(We’re going to update the DAO handbook soon to reflect the new changes and some internal practices, etc…)
So, if you know anybody across the worlds of Web3.0, entrepreneurship, philanthropy, etc… that would like to be part of running, leading and growing this incredible platform into THE go-to platform for decentralized fundraising and making the world a better place, hit them up.
Get them into Telegram. Get them to follow us. Get them to fill out this Typeform 👇
2. Move your 1Earth into your wallet before November 8th
To vote on the proposal and start the next phase of EarthFund 2.0, you’ll need all of your 1Earth in your wallet — not staked or on exchanges — before the vote is published.
So if you haven’t already, make sure you move them off of any exchanges and into your wallet so they’re on-chain.
(This is the way Snapshot works. Only those with 1Earth in their wallet when the vote is published can vote.)
We know this has caught people out before, so we wanted to give you a heads-up this time.
Oh, and if you want to ask any questions beforehand, here is the proposal that will go live 👇
🌍 Proposal EFP-06: change to team and investor token vesting contract
Summary
‣ Protect the long-term goals of the project by locking team and private sale tokens for a further period of time
‣ Delay unlocking of locked tokens from 11/19/2023 to 06/01/2024, two and a half years after 1Earth was minted and launched on KuCoin.
Motivation
We’ve just launched EarthFund 2.0 and are gearing up for a push when the market turns. These efforts should bolster interest in 1Earth. We don’t believe it makes sense to start unlocking team tokens that will increase the circulating supply.
As such, the team has decided to propose postponing the start of the 5-year vesting period for until 01 June 2024 (by then 2 and a half years post-token launch) so that the project can grow and flourish unencumbered by an increased circulating supply.
We will reevaluate the situation again in May 2024 to decide whether to push the team and investor vesting back further.
Technical information
This extension will continue to use the Liquidity Pool token (1EarthLP) that entitles each token holder to a pro-rata portion of the liquidity every month until all of the tokens in the pool have been sold.
All investment and team tokens have been added to a liquidity pool that supports the security of the project and ensures optimal price execution.
Once the vesting period begins, a trusted and vetted third party will act independently to liquidate the available pool of private tokens based on a percentage of the previous daily volume, so it does not negatively impact the market. All proceeds will be distributed to investors proportionately according to their LP tokens.
This liquidation will be done sustainably to protect the long-term health of the project and is likely to result in 5 years of monthly distributions for private investors and the team to collect from the EarthFund investor portal.
TLDR: Let’s kick-start phase two of EarthFund’s story!
We know this update is a little less exciting than the usual updates of new features, AI updates and partnerships, but we think it’s equally important.
What we’re doing is evolving EarthFund from a decentralized community and a core team to a fully decentralized organization — with full access to the treasury, the open source code, the marketing budget — to grow this into what we all know it can be: the greatest decentralized fundraising platform on the planet and the future of doing good.
Let’s go! 🚀
Help us spread the word
- Make some noise about our AI update on social media! 🔥
- Leave a positive comment on KuCoin’s new comment functionality
- Follow us on X and give our posts a like/retweet → this would be huge for us. Our X profile is key to spreading the word beyond crypto and into the kind of spaces where future community members (and maybe even founders) hang out.
- Join our Telegram community (if you’re not a member already)
- Talk about EarthFund in EarthFund-adjacent spaces (maybe mental health communities or carbon/climate change communities on Twitter)
- Post about EarthFund on X or interact with us on social media (got to feed those social media algorithms!)
- Ask us questions — we’re always available to answer questions in Telegram. (And if our community team doesn’t have the answers, we’ll get them for you.)
- Leave a positive comment and bullish rating on CoinMarketCap
- Like 1Earth on CoinGecko
Until next week, a massive thanks for being part of this journey with us!
Let’s build a better tomorrow, together.
New to EarthFund? Here’s everything you need to know 👇
Start a world-changing community with its own token.
Join a community of like-minded people.
Donate crypto to change the world.
All from one place.
EarthFund takes the power of centralized organizations like governments and global charities and gives it to communities dedicated to causes.
It allows everyday people like you to affect change. And using crypto and the blockchain, it lets you have a voice in decisions and fund the causes you believe in.
Powering it all is the 1Earth token, an ERC-20 token that can be staked in exchange for governance tokens that give you a voice on the platform.
By buying the token and joining the EarthFund DAO, anybody in the world will have a vote on how the EarthFund treasury is used to fund planet-saving projects around the world.
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