This proposal aims to optimize Popcorn’s methods of donating to nonprofits and social impact organizations beyond a portion of protocol transaction fees by implementing the following functionality on the app:
- Donate a percentage of redeemable tokens i.e. 3X and Butter
- Donate staking rewards/claimable tokens as stated in PIP-7
- Charity Vault version of all yield-generating asset strategies that donate yield in its entirety
The above donations and yield in aggregate from Charity Vaults will be sent to an on-chain Charity Fund controlled by a PopcornDAO multi-sig to be used to donate to nonprofits and charitable organizations determined by PopcornDAO on snapshot until on-chain beneficiary and grant governance is complete.
- Enable Popcorn users with more options to give back to charitable organizations
- Create more positive global impact by allowing users to donate beyond just protocol fees
- Create more revenue streams for PopcornDAO to be used for strategic growth and development
To honor the social contract Popcorn has with its community to create positive global impact, there is no reason we should not optimize the app with more donation functionality. Streaming, performance, and management fees can also be applied to generate revenue that can be used for strategic growth and development purposes.
- Implement donate functionality when redeeming tokens
- Implement functionality to donate a percentage of staking rewards and claimable tokens as stated in [PIP-7]
- Launch a Charity Vault version for each yield-generating asset strategy. The goal is to offer two versions of yield-generating products, one where users earn yield on their crypto for themselves, and the other where yield is donated to PopcornDAO-determined charitable organizations
- Administer a streaming, performance, or management fee that will be redirected to PopcornDAO to be used for strategic growth and development
This proposal draws inspiration from a conversation I had with an Ivy League endowment where we discussed how Popcorn could expand on its DeFi offering by creating yield-generating products that donate yield directly to charity. This would be an easy lift given we would use the same infrastructure but point the fire hose to nonprofits and social impact organizations.