metadata: {"type": "project", "title": "Doughn8.io", "logoImg": "bafkreiadqgcskwcxpzqqnkr7sdgsys6brdzczrbxnwhesy253pdhyy7lx4", "website": "https://doughn8.io", "bannerImg": "bafkreigp6jybmqpwqqhuktln5gppiax2wxdkmx72itzitjd2azt234ey2e", "createdAt": 1681830693930, "credentials": {}, "description": "\"Give without giving\", you get all the benefits of giving money to charity without actually giving money to charity - now that's magic.\n\n\n\nIntroduction\n\n\n\nAt doughn8, we\u2019re building the \u201cgive without giving\u201d app. The app takes advantage of Defi to create community donation pools. These global pools earn interest which will be donated weekly to charity through our charity partners. Of course, the best part is that you can always get back your deposit at any time.\n\nWe aim to be the first block in the regen public goods economy, providing donations for charities around the World. \n\n\n\nThe problem\n\n\n\nThe most significant barrier to charitable donation is insufficient money to give. \n\n\n\nIn a 2020 \u2018global trends in giving\u2019 report*, 42% of participants indicated that they don\u2019t give money to charity simply because they lack financial resources. 22% of participants volunteer instead of donating money, and 17% donate food or goods instead of donating money.\n\n\n\nThe report also indicates that transparency and trust are significant reasons people don\u2019t donate money.\n\n\n\nThe solution\n\n\n\ndoughn8 is a savings account linked to an interest-earning Defi protocol (Aave V3 on Arbitrum).\n\nUser deposits will be pooled together, and all resulting weekly interest will become charitable donations. \n\nUsers will, in essence, be making a loan that they can withdraw at any time.\n\n\n\nTo continually increase the pool size, doughn8 will add 50% of protocol token revenue and all swap fees.\n\n\n\nOver to you......\n\n\n\nHow it works\n\n\n\n1. Deposit & Withdrawals\n\n\n\nConnect wallet. You can connect using social media, user name & password, or a web3 wallet.\n\n\nDeposit. When you deposit a stablecoin (e.g. DAI), we give you a 1: 1  exchange for DOUGH (our app token)\n\n\nWithdraw. When you want to withdraw, give back the DOUGH, and we will give back your stablecoins (e.g. DAI)\n\n\n2. Interest\n\n\nWhere? Donation pools are sent to \u201cAave V3\u201d and earn a variable interest rate.\n\n\nWhen? Donations are automatically donated to charity weekly. \n\n\nHow long? Donations continue for as long as the pool is funded - so it may never stop :)\n\n\n3. Charity\n\n\nPartner. We\u2019ll work closely with The Giving Block & Giveth.io. They\u2019ll help us to donate in cryptocurrency directly.\n\n\nWho we give to. We\u2019ll only donate to verified internationally accredited charities with a high charity navigator score.\n\n\nCharitable causes. We focus on global water, hunger, relief, wildlife, the environment, and education projects.\n\n\n\nCompany Revenue\n\n\n\nRevenue Streams\n\n\nProtocol tokens. Using a Defi protocol, like Aave, doughn8 will receive protocol tokens. For every block doughn8 supply to the protocol, tokens are accrued.\n\n\n\nSwap fee. Using the 1inch API doughn8 will allow users to swap tokens directly in the Dapp and charge a small fee that gets re-invested into the donation pools. \n\n\n\nProtocol token revenue split (subject to change)\n\n\n\n50% of revenue is deposited back into the donation pools\n\n\n25% of revenue will go to the doughn8 treasury and be used to pay out user incentives\n\n\n The doughn8 team keeps 25% of the revenue  \n\n\n\n\nUsers\n\n\n\n1. Retail users\n\n\n\nRetail users are our everyday donators eligible for all quarterly NFT giveaways, yearly cash prizes, and participation NFTs. \n\n\n\n2. Sponsors\n\n\n\nSponsors can be high-net-worth individuals, organisations, or even governments. Sponsor donations will be included in the donation pools, but they won\u2019t be eligible to win giveaways or cash prizes.\n\n\n\n\n\nGIVeconomy\n\n\n\nTo maximise the amount donated to charity, doughn8 will work closely with Giveth.io and the GIVeconomy.\n\n\n\nBy donating our weekly interest to verified projects on the Giveth platform, we\u2019ll earn GIVbacks as GIV tokens.\n\n\n\nAll GIV tokens earned from doughn8 will be re-donated into the Giveth Matching Pool, making every donation go even further to help charities around the World.\n\n\n\n\n\nTechnology\n\n\n\nWe aim to release the app directly onto Ethereum layer 2 solutions, starting with Arbitrum & Optimism. This has been made possible with the release of Aave V3. \n\n\n\nMoney market\n\nOur primary lending platform will be the Aave V3 protocol, allowing us to earn interest on our pools on various L2 blockchains and possibly EVM-compatible L1.\n\n\n\nSwapping\n\nWe will integrate the 1inch API and use one of the leading decentralised exchange aggregators. This will also allow us to implement a small percentage fee for each swap and reinvest 100% of the fees back into the doughn8 pools.\n\n\n\nAuthentication\n\nLogging in should be as easy as possible. Our MVP will allow users to log in via web3 wallets, Metamask, and wallet connect. In a later version, we would like to use login services like web3auth to sign users into our app. This will allow users to log in with social media accounts, email & password, and web3 wallets. This should enable us to onboard more users unfamiliar with web3.\n\n\n\nFiat onramp\n\nOur users can buy crypto directly in the app using a fiat-to-cryptocurrency service. This will allow new users to purchase crypto and donate without leaving the app. \n\n\n\n\n\n\n\nHigh-level Roadmap\n\n\n\n\n\nDevelop MVP doughn8 smart contract with doughn8 token\n\nDevelop App MVP with limited functionality & limited charities\n\nIntegrate with Aave V3\n\nSet up the architectural framework\n\nDeploy MVP on L2 Testnet\n\nComprehensive testing\n\nPrepare contracts for audit\n\nObtain a smart contract audit\n\nLaunch MVP on L2 Mainnet\n\n\n\nImplement new functionality:\n\nTrue donations\n\nUser incentives \n\nApp integrations\n\nMore...\n\n\n\nLinks\n\n\n\nHow we donate: https://giveth.io/ & https://thegivingblock.com/\n\nWhere we earn interest: https://aave.com/\n\n\n\n\n\nCharities we'll donate to\n\n\n\nWater.org https://water.org/\n\nThe Hunger Project https://thp.org/\n\nDirect Relief https://www.directrelief.org/\n\nWild https://wild.org/\n\nPure Earth https://www.pureearth.org/\n\nMona Foundation https://www.monafoundation.org/", "logoImgData": {}, "bannerImgData": {}}
name: Doughn8.io