Charity DAO is a decentralized charitable organization that aims to make charity simple and more efficient without political interference and geographic restrictions. Currently it has established partnership with about 50 countries and districts’ charitable organizations around the world, and they made their first cryptocurrency donation to Ukrainian Red Cross Society for humanitarian assistance.
Donors are the starting point of the Charity DAO organization. By donating cryptocurrencies such as BNB, they receive CHD tokens, participate in the governance of the DAO, and get the dividends of CHD.
The Treasury will accept BNB donated by donors and, produce the corresponding amount of CHD tokens according to the mining algorithm. 80% of the CHD will become rewards for the donors and the remaining 20% will be put into the Public Donation Pool. And 95% of the BNB in the Treasury will be used to maintain the value and liquidity of CHD, and 5% of the BNB will be used for rewarding volunteers and occasional airdrops of DAO.
Public Donation Pool:
For the CHD in the public donation pool, DAO will vote to decide who will receive the donation of 20% of the total existing CHD in the pool and get the NFT of the donation certificate given by the corresponding organization; or it can choose not to donate the CHD and destroy half of the 20% CHD and distribute half of them in the DAO organization with the NFT recording this selfish behavior.
Users stake Charity DAO into DAO to participate in voting on all governance events of the Charity DAO, and more staked tokens mean more votes. The option with the most votes in the current period will be the result; if the top two or more options have the same amount of votes, the current voting result will become nullified and invalid.
Direct Donation Pool:
If donors do not want to join the economic system of the Treasury, they can donate to the Direct Donation Pool after noting the donation target or usage of the donated BNB. 90% of the coins will be donated directly to the target and 10% will be put into the Treasury to attract more people to generate charitable giving ideas. If the donor has not noted any donation target or usage, all the donated amounts will be put into the Treasury.
Charity DAO Coin is based on EVM and implemented using Solidity. Its initial offering will be based on the Binance Smart Chain (BSC) ecosystem, and it will support cross-chain implementations of Ethereum, Polygon, and Avalanche, among others in the future. Charity DAO is governed by a Decentralized Autonomous Organization (DAO), and it has a reserved migration module for future upgrades.
CHD Economic Model
Value linkage. When the Treasury exchange ratio is lower than the market exchange ratio, donors will choose to obtain CHD by donating to the Treasury. As donations increase and more CHD flow into the market, the Treasury exchange ratio will be higher than the market exchange ratio, then a proposal will be initiated through the DAO to determine the timing and amount among the 95% BNB in the Treasury to enter the market, to make the Treasury exchange ratio lower than the market exchange ratio. Thus, the DAO will initiate the next stage of the cycle.
Charity DAO Coin Ecosystem development. NFTs made from donation certificates issued by charities have a limited amount and collection value and thus can add vitality to the original ecosystem. The portion from the Direct Donation Pool that flows into the Treasury, in turn, keeps the Treasury running. Meanwhile, 5% of the BNB distributed to volunteers can motivate volunteers to publicize for us. Moreover, planned functions for the later stage can also promote the development of the ecosystem and thus motivate people to donate.
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