Inspiration
The GIVE Protocol team has been around since the beginning of DeFi and has seen the creation of wealth that came alongside the innovation. Understanding the efficient and trustless nature of Decentralized Finance, we believed there was an opportunity to make a real world difference using the high yields and speculative environment. Seeing platforms like Pool Together do "No-loss" Lotteries drove us to take it one step further with a "No-loss" donation stream.
What it does
GIVE Protocol earns yields on user's investments and connects the new capital with on-chain charities and non-profits. We plan to use Rari Capital's Stable coin and Ethereum pools to generate yield and we will auto-claim interest earned and send it to the DAO. GIVE aims to be fully community driven and the governance token will drive which charities the capital will go towards.
How we built it
We built a team through the Chainlink Discord, established marketing, backend, and frontend teams and started working. We relied heavily on Rari's contracts to generate yield and we manage the funds from there. We are hoping to integrate Keeper in order to help us with auto claiming yield and establishing the optimal timing for gas efficiency.
Challenges we ran into
It was difficult working with a brand new team in such a short time frame. We had some conflicting views between devs and founders that had to be worked out that led to somewhat of a time crunch. We did not get our product completely live on mainnet which is unfortunate, but we will continue working hard post-hackathon.
Accomplishments that we're proud of
We are proud of how passionate the whole team was about GIVE Protocol and how big of a difference it could really make. We all came together to really understand the DeFi space and create a product that would be accepted and loved by the community. The GIVE team is very excited to work on this product into the future!
What we learned
We learned a vast amount about the DeFi space which was insightful and important to know going forwards. Being a part of a relatively small team, I think we all gained knowledge on every end of the project. It is great to be on the business development end and learn the basics of Solidity, and vice-versa.
What's next for GIVE Protocol
Currently, GIVE Protocol is in a semi-functioning state on the Kovan testnet with a basic UI for testing. Going forward, we hope to integrate GIVE Protocol onto the Arbitrum testnet, integrate our GIVE token with the contracts, and deploy it onto mainnet. Once deployed, we would prioritize raising capital in order to generate interest for charities, while also reaching out to programs such as Gitcoin to be one of our first live charities on mainnet. We would hope to develop a community, gain feedback, and improve upon the protocol so that we can expand upon the charities we can onboard, such as the Red Cross, United Nations, and even local organizations that DAO members care about.
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