Inspiration
Money, education and wealth are some of the foremost enablers of upwards mobility. The Give protocol provides the opportunity for under-privileged communities to pursue their dreams while not worrying about their ability to pay for their needs while chasing their dreams. The give protocol enables this by forwarding the interest accrued over Defi protocols on the Give network platform to sponsor an individual or donor organization in need there by enabling low-income communities' capacity to aspire, build socio-emotional skills, and, ultimately, to pursue economic opportunities. Well you may think, interest accrued would be a small fraction. We argue that even fractions speak louder than words.
What it does
We believe access to a free and open financial system is a basic human right. Out of over 7.5 billion people in this world, over 2 billion people have no access to financial services. It is very important to note that most of them have no knowledge of alternative ways of fund raising that exists in other parts of the world or have access to very expensive local cash loans provided at interest rates higher than 100 percent. Money has a different value depending on the part of the world it is located. The give protocol is a research oriented decentralized autonomous organization that hopes to connect people and donor organizations with necessary financing to improve the standard of living of the recipients. The protocol encourages users of the platform to indulge in incentivized group savings schemes and have a profitable investing for themselves while also enabling and incentivizing them to donate a percent of their earned interest for charitable activities. We believe the give protocol holds the promise for generating more sustained long-run impact in the communities it is adopted.
Benefits of Give Protocol
The Give protocol would facilitate a multi-faceted economic inclusion program which aims to improve participation in income-generating activities, raise earnings while also facilitating economic diversification through donations.
- Encouraging individuals to save their hard earned money and who are interested in donating to the needy without losing their savings
- Incentivize individuals who are willing to donate with prizes and other value added services Onboard a new generation of users to blockchain who are not just interested in riding on speculation of Tokens value but people who are non-technical should be able to use the platform. 3.Giving with dignity - Enabling donations to individuals while also protecting recipients privacy
- Create a new revenue stream for donations which is different from existing models of donations. 5.Build the best tools to enable charity at Global scale. 6.The give protocol team will be engineering and research focussed and work on the long term vision of building a more equitable world.
How we built it
The give protocol is built on top on Ethereum Blockchain and the end to end architecture is completely decentralized. The Give network is hosted on decentralized storage network IPFS and Fleek.co. We leveraged a forked version of Sushiswap for implementing Give protocol features and we are planning to leverage Rari capital for interest generation workflows in our roadmap. For more details, please refer to the following idea and architecture commits from different members of our team - Give Improvement Proposal 1 and Give Improvement Proposal 2
Challenges we ran into
Since we wanted the team to be as inclusive as possible and open about team forming during hackathon, we were open about inviting non technical members with zero coding experience and from diverse backgrounds into our core team and encouraged them to contribute to the overall effort as long as they shared our vision. While we were able to onboard people from diverse backgrounds onto our team and help them learn about blockchain in general, a fully engineering heavy team would have made greater progress if all members of our team contributed to engineering side as well at-least in the initial phases of the project given the tight deadlines.
Accomplishments that we're proud of
We wanted to be a community which doesn't say no to non-technical folks who might be interested in the hackathon and help them learn about blockchains at a fundamental level even if it means we don't win this hackathon. While we understand that for this effort to be successful, we needed an 100% engineering focussed team and founders who can contribute actively to code, we onboarded non-technical talent from diverse backgrounds and people who are completely new to technical side of blockchains and helped them learn a thing or two about blockchains :)
We were able to assemble a team who would like to keep contributing this effort even beyond the hackathon timelines.
What we learned
- This was a great learning experience for the entire team and those who managed to stay and contribute to the team effort until the last day of the hackathon.
- We had some interesting conversations around open source licensing very early on this project and licensing model of Uniswap V3 drove the discussion.
What's next for The Give Protocol
- Continue working protocol implementation based on the current design specifications
- Work with Chainlink to integrate DECO
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