I was at work today and was thinking of ways to give back to the community. We all know that the **ETH APY is decreasing** as more and more people on the network and it’s frustrating to see that number go down. That being said, I think many of us believe that the **value of ETH will appreciate much faster** and over greater magnitudes than the staking rewards. Even though it doesn’t look like much to some of us individually, a pooled income would add up quickly and could be used by charitable organizations in dire need of funding. After watching a few videos on the terrible charity crypto-scams pushed by influencers, I wanted to see if there was a way to do this legitimately and without extra bells and whistles when necessary. I was brainstorming and I was so infatuated with the idea that I felt I had to share, so here it is.
The platform **will not include its own cryptocurrency** but will be a means for people or organizations to **passively produce an income stream for charities** with the highest demand. This of course requires a way to gauge demand for these funds. An organization or a targeted set of organizations would be selected based on their Need Scores which would be calculated by something like comparing the charity’s current funding to their specific goals. This protocol will take a customizable percentage of each staking transaction and will pool them for a certain amount of time (weekly? monthly?) and distribute payouts to selected organizations whose wallets have been verified and claimed.
As someone who is looking to stake ETH, you could for example choose 40% of your staking proceeds to your target organization plus another 20% to the current organization with the highest need, while blacklisting certain organizations that you don’t trust from that second list (need-based). This would look like a couple of sliders for the percentages followed by a series of check boxes which would either be auto-selected (whitelisted) or deselected (blacklisted), with an adjacent star to be your priority organization.
It’s pretty late but that’s the gist. Is there anything like this currently? Do you all think there’s a market for this kind of protocol? Do you all feel the same way about making the most of your staking rewards? There are currently UBIs and BAT which are ways to donate and distribute money but I think we could use a more **sustainable and effortless** donation protocol in order to help real people.
I have neither the funds nor the experience to pull this off but I want to see if anyone sees my vision the way I do. I’m thinking of integration into major exchange (Coinbase, Kraken, etc) staking systems, Metamask overlays, the whole thing. Let me know what you think. If you are seriously interested, think you are capable of pulling this off, and have some credibility to your name, DM me.
As an easy way to think why I think this is different, I think of this like taxes being taken out automatically before you even get the paycheck instead of seeing the money in your bank account and willingly letting go of it. Just seems like it would have less friction.