Summary
Creation of charity vault/farm that fills a pool which is then distributed to charitable causes as voted on by the community.
Abstract
Create variable deposit charity pools (1% - 100%) whereby liquidity providers can donate a portion or all of their yield to a charity pool. The pool will then be used to donate to various organizations across the globe. Grants can be randomly selected, applied for, or submitted by community for consideration in a potential sub governance section…?
Motivation
It’s a good look for defi, it promotes crypto adoption, it helps out your fellow human, and is probably tax deductible in most places. plus, wouldn’t it be fun to just randomly blast good causes with funds?
Specification
• I’m not technically adept enough to fill out this part, but perhaps minds could come together and help flesh out the details. One thing to note is that perhaps there could be a separate governance token? It would be nice for it to include those not holding YFI to be able to vote on grants/donation recipients - maybe just create a faucet and give a pile to anyone that wants them? lots to be considered here.
this is obviously a very broad idea and there is more to cover/consider here than i could think of, much less fit in a proposal, but i figured this was the best place to start, so yeah - if i’m doing it wrong, please let me know.
Without sounding cheap or ungrateful for all that has been created in crypto – I think we should focus on Yield-bearing defi products. We have just passed compensation proposals, BABY, and now is the time to build Yearn.
I have no doubt that we will be able to donate in the future as a company, but we really need to capitalize on the first mover advantage — products are coming online quicker. Let’s build and make the money first – then we can decide on the most charitable causes. I think with a DAO – we should stay focused on the business at hand. The charity portion could become a distraction if the donation entities were not universally decided.
Just my two cents, I like many others incorporate giving into my private financial plan. I can’t imagine my life without giving to charity — just don’t feel this is the job of the Yearn DAO.
I agree in spirit with both points. The making of money without selling a commodity or tangible product (corn, grain, cars,) means are gains are derived from others, and/or the developers are smarter than competitors, or providing a monetary hedge against inflation (I hate set interest rates , while beneficial, they can also destroy many for the benefit of a few). I was attracted to the concept of Crypto after seeing so many of my friends buckle under the boot of the 2009 meltdown, only to see the government bail out the very people involved in risky financial products that almost destroyed our economies. Charity is a choice and should be an individual choice, not a collective. That said, yearn should at some point in the future set up a voluntary vault to help those struggling in a world fixated on material gains…