EarthFund, a decentralized autonomous organization, has launched to promote simple and democratic funding for world-changing causes.
Blockchain technology and cryptocurrencies have a huge potential to improve the world and become a big force for good, but they’ve mostly been utilized for short-term gain with little influence on those who need it. According to Adam Boalt, co-founder of EarthFund, the technology “hasn’t been widely adopted yet mostly due to usability,” which is something his business is working to rectify. Decentralized autonomous organizations (DAOs) have previously been favored by blockchain projects as a transparent method for raising donations, tracking them, and ensuring that every dollar reaches people in need. The concept of using DAOs to fund real-world causes has gained traction since the stories of ConstitutionDAO and UkraineDAO. Despite demonstrating the power of token incentives and crypto as a force for good, many of these benevolent DAOs have turned out to be ineffective.
Setting up a funding DAO, on the other hand, was firmly reserved as a task for experienced Solidity engineers. Regular businesses and people were unable to build up the infrastructure required for a funding DAO, limiting the technology’s potential influence. EarthFund wants to alter this by providing a simple and straightforward user interface that allows anybody to create DAOs to finance causes they care about that have a real and meaningful impact. Founders, donors, and users can make their opinions known in the real world with a simple UI and a full-stack ecosystem approach. Founders may easily create DAOs, raise funds, and even offer token incentives to encourage more people to contribute.
All three types of DAO members can use the EarthFund toolkit. It gives creators a simple, plug-and-play platform for creating an ERC-20 token and a DAO with gasless governance. Users are rewarded for speaking up and voting in support of causes they care about on the platform. Deepak Chopra and Dr. Lucy Tweed, two well-known benefactors, will launch the platform with pilot operations to establish funding DAOs for mental health and carbon reduction, respectively.