RCF00 - Crypto Giving Pledge

Forum discussion: https://forums.rari.capital/d/111-rcf00-crypto-giving-pledge/6

Summary: Make a long term commitment to philanthropy and giving back by donating 1% of smart treasury (protocol revenues) assets on a yearly basis, distributed monthly.

Background: In November 2020, the Rari Capital team created and seeded the Rari Capital Community Foundation on Endaoment.org with an initial gift generated by the protocol’s fee base over a multi-week period.

Read more here: https://medium.com/endaoment/rari-capital-leverages-endaoment-for-new-rari-capital-foundation-6f4b4810585e

Endaoment is DeFi’s first community foundation, and enables donations directly to US based 501(c)(3) nonprofits.

The Giving Block’s has launched the Crypto Giving Pledge where individuals and organizations can pledge to donate 1% of their assets to nonprofit organizations.

Abstract: Rari Capital will sign The Giving Block’s Crypto Giving Pledge and commit to transferring 1% of the smart treasury (protocol revenues) assets per year through the Rari Capital Foundation at Endaoment to non-profit organizations. Although these contributions may be smaller than the RGT treasury, it will allow us to sign the Giving Pledge and allow it to scale up as the protocol grows.

The Smart Treasury currently holds ~$16,000 (https://etherscan.io/address/0x10dB6Bce3F2AE1589ec91A872213DAE59697967a)

Deposits of treasury assets into the Rari Capital Foundation at Endaoment would occur on the 1st of every month, starting July 1st 2021, in the amount of 0.083% of smart treasury assets over the prior month. The stablecoins contribution will be exchanged each month and the entire balance will be granted out to organizations as determined by the community. The top voted organization will receive the balance of the fund each month.

These deposits will continue into perpetuity unless adjusted by a future governance proposal. Deposits would be held in the Rari Capital Foundation until distributed to US based 501(c)(3) organizations based on monthly governance proposals. RCF01 will inform the first distribution from the fund if this proposal is passed.

Motivation: To direct funds in the Rari Capital smart treasury to nonprofit organizations to give back through philanthropy. Additionally, this offers an opportunity to further engage and gather the community in Rari Capital’s governance through direct-impact grant making.

For: Sign the Crypto Giving Pledge Against: Do not do anything