Grow Open Source Bounties Hackathons Grants Quests Kudos
Back to Grants

Deploying a community currency UBI with 10k+ Kenyans

Grant Accepts Any Token

Last Update: 2 weeks, 6 days ago




661 DAI



464 DAI
58 contributors


{"ops":[{"attributes":{"bold":true},"insert":"🌟Update🌟"},{"attributes":{"header":1},"insert":"\n\n"},{"insert":"Check out the latest impact data on the 24k users and "},{"attributes":{"link":"https://gitcoin.co/grants/853/launching-a-community-currency-web-wallet-into-23k"},"insert":"updated Gitcoin Grant here"},{"attributes":{"header":1},"insert":"\n\n"},{"attributes":{"color":"#000000","bold":true},"insert":"Multiply the impact of charitable donations by providing liquidity in credit tokens where the legacy financial system fails "},{"attributes":{"header":1},"insert":"\n"},{"insert":"\n"},{"attributes":{"color":"#000000"},"insert":"Each 1 DAI donation to our contract is "},{"attributes":{"color":"#0000ff","link":"https://www.grassrootseconomics.org/single-post/Enabling-Leverage"},"insert":"locked up as collateral"},{"attributes":{"color":"#000000"},"insert":", automatically issuing 4 DAI worth of community credit tokens to one of our local currency network members- low income Kenyan people in rural villages and slums. Accessing their tokens on feature phones or smartphones, users can buy goods & services from any of our partner’s 10.000+ local community currency members. "},{"insert":"\n\n"},{"attributes":{"color":"#000000"},"insert":"Compared to cash donations, like "},{"attributes":{"color":"#0000ff","link":"https://www.givedirectly.org/"},"insert":"GiveDirectly"},{"attributes":{"color":"#000000"},"insert":", this process has two major advantages: The credit tokens 1) fill a demand for liquidity (which banks fail to deliver), thus increasing the incentive to produce goods and services and 2) stay in the local economy longer, resulting in a larger impact (or lower cost overhead) per donation. Early field tests demonstrate up to 20x impact over traditional donations and double the velocity (the rate at which the money is traded) of the US Dollar. These indicators are transparent, because all transactions happen on the xDAI chain. For more info "},{"attributes":{"color":"#0000ff","link":"https://multiply.charity/#faq"},"insert":"see our FAQ"},{"insert":".\n\n🌱 "},{"attributes":{"color":"#000000","bold":true},"insert":"Piloting a real world Ethereum based economy"},{"attributes":{"header":2},"insert":"\n"},{"insert":"\n"},{"attributes":{"color":"#000000"},"insert":"We run our first pilot in collaboration with the "},{"attributes":{"color":"#0000ff","link":"https://www.grassrootseconomics.org/"},"insert":"Grassroots Economics"},{"attributes":{"color":"#000000"},"insert":" Foundation which has 9 years experience and peer-reviewed documentation in successfully operating inclusive community currencies in Kenya. Grassroots Economics is currently working with Red Cross & Sempo to provide 10.000+ end-users within the xDAI based Sarafu currency to buy and sell local goods and services using their smart and feature phones. In its current form the local Safaru currency has more than "},{"attributes":{"color":"#0000ff","link":"https://www.grassrootseconomics.org/single-post/CIC-Pilot-Impacts-and-Plans-Feb2020"},"insert":"doubled the impact compared to GiveDirect"},{"attributes":{"color":"#000000"},"insert":" M-PESA direct donations. "},{"attributes":{"color":"#000000","background":"transparent"},"insert":"This pilot provides a unique opportunity to apply Ethereum based real world payments, recurring UBI, social impact donations, token bonding curves and transparent economies into a real development economy. This will provide the whole Ethereum community with tremendous learnings regarding actual deployment of DeFi tools in the hands of non-technical users in a developing country. "},{"insert":"\n\n📊 "},{"attributes":{"color":"#000000","bold":true},"insert":"Commons Funding & Analytics Dashboard"},{"attributes":{"header":2},"insert":"\n"},{"insert":"\n"},{"attributes":{"background":"transparent","color":"#000000"},"insert":"Multiply will use the funds raised in this grant to create a dashboard for donors to donate directly to Kenyans in need and see the impact of their donation. We are aiming to maintain the privacy of the local people and the businesses that they use but transactions can be tagged by categories such as food / water supplies, farming, labour, shops, transport, fuel / energy, savings groups and health. This anonymized data enables researchers and donors to "},{"attributes":{"background":"transparent","color":"#0000ff","link":"https://www.grassrootseconomics.org/single-post/Economies-into-Ecosystems"},"insert":"get insights into how the money is circulating"},{"attributes":{"background":"transparent","color":"#000000"},"insert":" in each community. This insight serves donors as an indicator of how their donation was spent, how big an impact it had, and on how their future donations are likely to contribute to the community. "},{"insert":"\n\n"},{"attributes":{"background":"transparent","color":"#000000"},"insert":"Multiply’s collaboration with Grassroots Economics will support the research currently being done by the BlockScience and the Commons Stack. This impact data will eventually be able to be fed into cadCAD models of the system ("},{"attributes":{"background":"transparent","color":"#0000ff","link":"https://community.cadcad.org/t/bonding-curves-to-fight-poverty/63/3?u=griffgreen"},"insert":"which are being built right now"},{"attributes":{"background":"transparent","color":"#000000"},"insert":") to optimize the injection of donations into this system for a desired impact, enabling "},{"attributes":{"background":"transparent","color":"#0000ff","link":"https://medium.com/commonsstack/computer-aided-governance-cag-a-revolution-in-automated-decision-support-systems-5d15aec2c3d5"},"insert":"Computer Aided Governance"},{"attributes":{"background":"transparent","color":"#000000"},"insert":". Multiply is excited to work alongside the Commons Stack to see this pilot become the first prototype of a Commons Dashboard, one of the 4 core components of the Commons Stack. "},{"insert":"\n\n"},{"attributes":{"bold":true},"insert":"💸 Support us"},{"attributes":{"header":2},"insert":"\n"},{"insert":"\n"},{"attributes":{"background":"transparent","color":"#000000"},"insert":"With your help, our results will bring DeFi to the real world and inspire real-world bottom-up communities benefiting with transparent programmable economies."},{"insert":"\n\n \n"}]}

Activity Feed