As the role of governance in blockchain projects takes on newfound importance and meaning, decentralized autonomous organizations (DAOs) are expanding their role across multiple areas, especially for non-profit and charitable initiatives. Still, the learning curve for developing and coding a DAO remains steep, and the scarcity of developers can make these projects even more challenging.
The News
To help individuals and organizations overcome the technical challenges of forming a DAO, decentralized crowdfunding platform, EarthFund, has rolled out its DAO-as-a-service offering. Every cause on this platform is a DAO and uses smart contracts, granting users complete transparency and accountability. By leveraging blockchain technology and cryptocurrencies, EarthFund empowers anyone to build or join a cause they believe in.
At the outset, DAO-as-a-service will launch pilot initiatives by Deepak Chopra focused on raising funds for mental health initiatives worldwide. Also included will be Dr. Lucy Tweed, who is advancing a Carbon Removal cause to support community-led carbon removal initiatives.
Previous DAOs, such as ConstitutionDAO, which was formed to purchase a copy of the U.S. constitution, or UkraineDAO, which distributed aid funds across Ukraine, raised greater awareness surrounding the model but were impactful only to a certain extent. This is mainly because setting up a DAO from scratch requires Solidity developers with ample experience. The technical requirements to construct the infrastructure for a funding DAO limit this novel approach’s potential impact.
To address this problem, EarthFund has developed an intuitive user interface (UI), which enables anyone to readily set up a funding DAO, engage in fundraising activities, and provide token holders with an avenue to share their opinions. Moreover, it provides the necessary incentive for DAO members to transform a cause into an achievable goal.
Deeper Details
The EarthFund toolkit is designed to support all three categories of participants that join DAO initiatives. Founders can leverage the platform’s intuitive, plug-and-play features to launch an ERC-20 token and DAO with gasless governance features. On the other hand, users can earn rewards by voicing opinions and voting for causes they support. At the same time, donors can confidently contribute crypto to legitimate causes, ensuring their donations make the most meaningful impact possible.
According to Adam Boalt, the co-founder of EarthFund, “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. 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.”
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