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DAO enables social assistance with income-generating DeFi products

4 min reading

At the interface between DeFi and ESG, a new paradigm shift is taking place which has something bigger and better to offer.

DeFi https://www.freepikcompany.com/legal

Cryptocurrencies were once an unknown asset to the world. With the opportunities that decentralized finance (DeFi) offers to the masses, it is almost an essential financial tool today. As more institutional money infiltrates the market, questions about the ability of assets to do good and do better in the world remain. After many have experienced the devastating impact of the Covid-19 pandemic, reality reminds us that humans are not the rulers of this planet, but have a responsibility to preserve their living space.

Institutional investors have built portfolios that address environmental, social and management issues in traditional markets; Therefore, this invasion is expected to carry over to the cryptocurrency market. While some thought has been given to the impact of digital currency extraction, the market is much wider and ongoing projects are only scratching the surface. Popcorn combines these two concepts with the slogan "Do good with Defi". Basically, consumers have the ability to earn high returns on their crypto assets while making an impact in the real world. By developing profitable DeFi products that pay a fee for non-profits, social good becomes part of the industry at no premium and harnesses the power that comes with community.

In evaluating this niche, a member of the popcorn team shared:

  • "If TradFi undergoes a tectonic shift in its investment strategy, with ESG assets expected to exceed $50 trillion by 2025, what does that mean for ESF in DeFi?" Currently only a few impact-based projects have been launched and represent only a small part of the total TVL. Assuming the current growth rate of TVL with ESG DeFi continues to grow in the ecosystem, what can we expect from a good project? Will they be responsible for bringing the next 100 million users to DeFi? If ingenuity and authenticity are indicators to measure success, then it is WAGMI.
  • The project has raised $6 million to date from Jump Capital, New Form Capital, Kenetic Capital, Cakebox Capital, The LAO, Impossible Finance, The Crypto Founders Network, Big Brain Holdings, Hestia Holdings, Amino Capital, Drop Ventures, XTBO Humla Ventures applied as well as angels from MakerDAO, IBM, NASA, Google and Deloitte, to name a few.

Also read: Carbon offsets are a nuisance for crypto

Fight for social impact

In practice, this is done through a decentralized autonomous organization or DAO model. Unlike DeFi, DAO looks at the community, not the financial industry, by shifting the ability to resist decisions from organizations to people.

Popcorn started its project with Butter, a lucrative basket of packaged stablecoins made from DAO government bonds, and gas-conscious consumers that around 20% APY to Tether (USDT), USD Coin (USDC), Dai (DAI) or LP 3pool Curve ( 3CRV) along with stable coins for social impact. Not only is the coin the first of its kind, it also allows consumers to make an impact just by holding the coin. In fact, stablecoins are the product of a highly secure lending and payment process that works through smart contracts for popcorn.

As consumers add value, some of the fees – between 20 and 50% – are transferred to socially emerging organizations, some of which are nominated by the token holders themselves. The team is currently inviting social organizations to learn more about how to become beneficiaries.

This network is integrated with Patch, the first API platform focused on eliminating and offsetting carbon emissions through high impact carbon removal projects.

Since then, Popcorn has worked with organizations such as the Crypto Climate Accord, public commitments to net zero emissions, The Giving Block, and the Vanderbilt University Blockchain Club.

Reserved for future impact

The network plans to initially deploy popcorn on Mainnet and Polygon (MATIC), with future plans to deploy Fantom Opera (FTM), Binance Smart Chain (BSC), Solana (SOL) and Avalanche (AVAX). Your skills as a multi-chain profitability optimizer will fulfill other future plans to engage beneficiaries, further develop mobile apps and eventually become a fully decentralized exchange.

The future is waiting and definitely looks green.

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