🌍 EarthFund Rewards
Rewarding the NeverAlone community in USDT for making the world a better place
Find out more about the first EarthFund airdrop, how rewards were calculated, and how we’re automating the rewards process for the future.
👋 We’re EarthFund, the decentralized platform using blockchain, DAOs, and crypto to give you more of a voice in the shape of tomorrow.
This is a short post to give you some insight into the airdrop payout for the first NeverAlone community rewards.
In a hurry? Skip to the important bit here 👉 Airdropping the rewards
Or here’s the TLDR· Do good. Feel good. Get rewarded.
The entire EarthFund platform is built on a simple idea:
You join communities dedicated to causes you’re passionate about. You vote on what projects get the funding they need. And you get rewarded for being part of a better tomorrow.
In practice, that means that every time a fund pays a grant out to a project, you and everybody else who have your governance tokens staked get a share of the community rewards.
💡 What are community rewards? Community rewards are decided by each community and are a percentage on top of the grant amount that goes back to everybody who has staked the token in the cause. It’s a bit like a yield you’d earn for supporting a protocol, except you’re earning a yield for building a better tomorrow.
$7,000 USDT of rewards for the NeverAlone community
This week, the Mental Health and Wellbeing cause voted unanimously to fund further development of PIWI, a mental health chatbot that has already helped almost 100,000 people struggling with their mental health.
And thanks to the super-fast fundraising of $116,014.62 during the first 24 hours the cause was live, the Mental Health and Wellbeing Cause has enough in its treasury to fund the project and the community rewards.
EarthFund earns its first bit of revenue🚀 It’s also worth noting that EarthFund has made its first piece of revenue now with a 3% fee from this project. It’s a small figure, but it’s a big milestone. As more causes join and more projects get funded, we’ll have more money to fund further development, which will lead to more causes, more projects getting funded and the world becoming a better place, one project at a time.
Airdropping an average of $130USDT to every member of the NeverAlone community
In the future, you’ll be able to claim your rewards straight to your wallet from the EarthFund platform.
However, we’ve literally just deployed the smart contract that functions as the brains of the whole platform. This innovative, first-of-its-kind contract handles all of the behind-the-scenes cleverness to calculate rewards, distribute grants, automatically calculate the EarthFund platform fee, keep projects in the right order in the queue, etc…
Although it’s been audited thoroughly, we want to run a few more tests on it before we send $110K through it.
So, we’re going to be airdropping the rewards directly to the wallets of everybody in the NeverAlone community on Friday July 22.
How we calculated rewards
The rewards were calculated on a pro-rata basis based on how many NeverAlone tokens you hold.
Essentially: $7000 rewards pool/26873.22124 NeverAlone tokens = $0.2605 of rewards for every NeverAlone token you’ve staked.
đź’ˇ We used Etherscan to see all tokens locked in the staking contract.
The vast majority of community members staked 500 NeverAlone tokens, so the average reward will be around $130.24 for each member of the Mental Health and Wellbeing Cause.
You don’t need to do anything. The rewards will be automatically airdropped to your wallet. (We’re using the Gnosis Safe Airdrop, an industry gold-standard tool for safe airdrops.)
Changing philanthropy for the better
For the EarthFund team, this is a huge moment.
Not only are the community earning an average of $130 USDT each for participating and making the world a better place, but it’s a huge proof of concept moment for us.
With just one cause and one project, we’ve proven out:
- That decentralized crowdfunding is viable and effective (over $100K raised in under 24 hours)
- That decentralized communities for good are the future (a major organization like Chopra Foundation said as much on the Twitter Space yesterday)
- That you can reward communities for making a difference. ($5 in NeverAlone has yielded $130 in rewards so far. As the cause funds more projects, those rewards will continue to grow.)
And with the Carbon Removal cause launching soon and more causes after that, we’re psyched that we’ve created an ecosystem that not only helps crucial, world-changing projects get the funds they need to make a difference, but a model that rewards everybody for getting involved and using their voice to make the world a better place.
Let’s go!
TLDR: Do good. Feel good. Get rewarded.
📱 $100K is going to fund further development of PIWI, an open-source chatbot that helps prevent suicide. (More on PIWI in our last update.)
đź’° $130 on average is going to everybody who staked their NeverAlone tokens (or got them during the community drop) and helped create a community around Mental Health and Wellbeing.
🚀 This proof of concept — philanthropy + community + rewards — is huge for us. It vindicates everything we’ve built so far. And this is only the beginning.
So, as always, we’re going to keep building, keep pushing and keep adding more causes.
Let’s build a better tomorrow, together.
Team EarthFund
PS. Stay tuned for our tech/product/marketing update next Monday đź’Ş
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 power from 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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