EARTHFUND PLATFORM UPDATE 10/17
Our DAO creation wizard starts end-to-end testing 🙌
Plus important updates on team/private sale tokens, the role of EarthFund DAO and other tweaks as we get closer and closer to launch.
👋 We’re EarthFund, the decentralized platform using blockchain, DAOs, and crypto to revolutionize the giving economy and give you more of a voice in the shape of tomorrow.
This is post #16 in our new weekly update on everything that happens behind the scenes at EarthFund’s (distributed) HQ.
Happy Monday, Earthlings 👋
We’re back with more good news this week: things are moving along very nicely indeed.
At the end of last week, our team did the first complete end-to-end test of the platform and all we found was one hiccup and some UX/UI tweaks we can make to improve the flow and useability.
That’s huge.
Over the weekend, our team has already fixed that error and this week we’ll be repeating that end-to-end testing again to launch a beta test DAO for Megan Pormer, the host of The Megan Pormer Show on Fox, to help fund a project close to her heart. (More on that later.)
In other words, we’re nearly there. The platform works exactly as we want it to.
That means, with no technical Web3.0 knowledge whatsoever, you can use our platform to launch a DAO in ~30 minutes and get set up with your own:
- ERC-20 governance token
- ERC-20 smart contract
- Gnosis multi-sig wallet
- ENS domain (for example, yourcause.earthfund.eth)
- Snapshot governance system for gasless voting
- Your own no-code landing page with Unsplash integration for images
- Subdomain on the EarthFund platform
- Crypto donation page and router
- Rewards module to reward your community
- The ability to list your token on Uniswap and create liquidity pools
- A quick and easy way to list your token on CoinMarketCap and Etherscan
- A Coinshift integration to manage your treasury and pay your team
- A quick and easy way to add team members as multi-sig signatories
Why is this so huge? 👇
1. Lowering the barrier to entry for DAOs
For starters, it saves new DAO founders a lot of mental energy to have an all-in-one place to launch a DAO and have everything they need to start making an impact immediately.
And sure, this solution isn’t likely to appeal to the hardcore cryptoheads or people that live and breathe Solidity code. But we’re not building the Linux solution for DAOs, we’re building the Apple solution. Clean, easy-to-use, intuitive, powerful…
And because of all the hard work that our team has put into automating the whole process (making us the only DAO launch platform that automates everything) we’re going to make it easy for anybody to launch a DAO dedicated to making the world a better place.
That’s huge.
2. Making it faster and easier to launch a DAO
Take a second to look up how long it would take to do all of those things individually and the level of technical knowledge and understanding they all require.
Even if somebody knows their Snapshot from their Etherscan, we’re still saving them hours and hours of manual, confusing and sometimes hair-pulling work by launching a DAO through our platform. We’ve made it as easy to launch a DAO as it is to get insurance through Lemonade or launch a website with Squarespace.
3. We’re establishing DAOs as a new form of fundraising and community management
Every non-profit or world-changing organization we’ve spoken to has been struggling with three things:
- Trust: how do you build trust with your community? How do you help them trust that you’re using their donations for good?
- Engagement: how do you move beyond the black box charity model to a more engaged community that helps you find better projects and creates a better ecosystem?
- Fundraising: how do you adapt to the huge potential of decentralized fundraising? Is it as simple as embedding a crypto donation widget, or is it about something more? A holistic approach to not just accepting crypto donations, but adapting to this new world of decentralized decision-making?
And every single person has said that the idea of a DAO they start but don’t control ticks every single one of those boxes.
The first challenge has been getting started. We’ve talked ad nauseum about how we’ve solved that problem.
But the second challenge relates to our next phase of growth. How can we get a critical mass of non-profits and organizations launching DAOs and creating a new movement of decentralized giving? Because once we achieve that, that will create FOMO and awareness leading more organizations starting DAOs, and so on…
That’s where we’re going to be spending our efforts once we have funding: to create an ecosystem of philanthropic communities that sells itself to any prospective DAO founder.
End-to-end testing is underway 🚀
Last week, we completed an end-to-end test on the automated DAO creation wizard.
And it went really well.
We had a slight issue with the automated ENS creation (that our team has already fixed) and spotted some UX/UI tweaks that we’ll be making this week, but aside from that, it went perfectly.
Very soon, we’ll be able to launch the platform and let anybody launch their own DAO. No tech knowledge required.
Here are a few gifs we took during testing to give you an idea of just how easy to use our platform is.
No-code landing page creation:
Super-simple token minting:
Building your team of world-changers:
Setting your tokenomics:
Last week, Megan Pormer — host of The Megan Pormer Show — reached out to us for help raising money to send 4 women who have suffered abuse and trauma to a 3–day event to help them heal and overcome their past.
These women are going to be the subject of a documentary on Fox to raise awareness of the issue.
We saw this as a perfect opportunity to test the platform end-to-end and make a real difference with microgrants dedicated to a good cause.
So, this week, we’ll be launching the Female Empowerment DAO with Megan Pormer to raise the money for this project and get EarthFund featured in the documentary on Fox, featured on The Megan Pormer Show, and promoted to Megan’s 6M+ social media followers, further establishing EarthFund as the platform you go to when you want to make a difference.
We’ll have more updates as the week goes on. Keep your eyes peeled 👀
Last week, we talked about the corporate restructure and how that would affect the EarthFund DAO.
Missed it? Here’s a recap:
In order to secure investment, our advisors have recommended establishing a new company — EarthFund Inc — to own and control the assets and intellectual property of EarthFund. (That means the brand, the software, etc…)
To do this, EarthFund DAO will own a portion of the new company and contribute the EarthFund DAO-owned assets to the new company in return.
This means that the new company is now set up like a traditional software company (making it more viable for investors) without ceding any of the control the EarthFund DAO has over the causes listed on the platform, etc…
The other benefit? EarthFund DAO will be entitled to and receive regular distributions of the profits from EarthFund Inc (the new company) and have full control over how these are used.
That means that the DAO will receive regular payments from EarthFund Inc that can be used to do things like pay and reward 1Earth holders (in lieu of the yield), buy back 1Earth, hold in the treasury, donate to worthy causes on the platform or undertake activities to promote the platform…
Under the new remit, 1Earth holders will have full control over:
- Which DAOs are featured on the platform
- Which DAOs should be removed from the platform
- Which DAOs should be promoted
- How to spend the distributions (AKA, $$$) from EarthFund Inc
- When to give EarthFund grants to DAOs on the platform
- If/when to buy back 1Earth from the open market
- If/when to use distributions to reward users
That first point is important.
Having done a lot of market research, we realized that having the EarthFund DAO approve all causes on the platform created a bottleneck and a huge barrier to entry for all DAOs.
When there are several other tools that let you set up a DAO no questions asked, why would DAOs use our platform and spend the time creating a DAO with no guarantee it will go live?
Instead, we’re moving the EarthFund DAO’s responsibilities to oversight rather than admissions:
- You will be able to report and remove DAOs from the platform
- You will be able to vote on which DAOS to promote and feature on the EarthFund homepage
- You will be able to donate some of the profits from EarthFund Inc to DAOs voted on by EarthFund DAO
By doing this, the DAO still has real control over which DAOs are allowed on the platform without creating a barrier to growth.
Thus, we can scale faster, make more of an impact and create real buzz around philanthropic DAOs without creating a free-for-all platform full of meaningless DAOs.
After all, a huge part of our proposition is being the go-to home of impact DAOs. We don’t want to lose that.
Quick update here: the vote to push back the vesting schedule of the team and private sale tokens passed. That means those tokens won’t start their 5-year unlock for another year. 🙌
That’s huge for the project and another show of faith that the investors and team have in the long-term prospects of this product.
How can you help? Help us spread the word
- Leave a positive comment on KuCoin’s new comment functionality
- Follow us on Twitter and give our posts a like/retweet → this would be huge for us. Our Twitter profile is key to spreading the word beyond crypto and into the kind of spaces where future DAO 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)
- Tweet about EarthFund 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 DAO 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.
CoinTelegraph
We’re building a better world, together. Come join us.
Read our whitepaper
Join us on Telegram
