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Main Screen
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Future prizes
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Prize info
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Proof of Donation (PODs) NFTs
(All the info about the links, tracks & sponsors can be found at the end)
Wooy is the first Web3 platform where users can win incredible prizes and once in a lifetime experiences, while they donate to important causes.
Inspiration
We created Wooy as a result of our previous experience working with NGOs and our love for technology. We don't say that they have a problem that has to be solved, because every donation or contribution is positive. But we do believe that with the correct use of technology and an excellent team we can create modern solutions that generate for example, a great increase in the number of donations or generate an action that makes the cause known to millions of people. Or why NOT, even reward those people who donate, trying to make a change in the world.
Our objective is to help Nonprofits and causes all around the world. We not only want to help fund causes, but also want to help raise awareness for them and get people to know what’s happening, how they can help and how their donations are helping change the life of others. We want to help these causes get funded in the long run and for that they need a way to get the people to know them and what they are doing.
Impact
We don’t want to be just another web that has a checkout option to donate, there are already lots of companies who provide that service and that do it very well. What we want to do is to really make the “pie” bigger, we believe that we incentivize donations in a very rewarding way and that we can disrupt an industry by doing something totally different from what is being done today. And the best of all is that is “free” for the users who only want to donate the yield, it’s really a no-brainer.
We provide the technology, marketing and collecting effort for NGOs while allowing them to focus on doing more and better impact!
What it does
We created a lossless participation model where just by depositing you are already participating, without losing or risking your tokens. Users tokens generate interest in well-known crypto protocols, such as Aave or Compound and they only use this interest to participate, that’s why we like to say it’s “free”!
Basically, we have created a no-brainer model based on three main pillars where users can:
- Win unique prizes.
- Withdraw whenever you want, we are non-custodial.
- Generate donations with their funds in an intelligent way.
For every prize we will partner with an NGO, aligned with the SDGs, to whom we will help raise funds and will allow users to vote on which one they want to donate.
We will have all kinds of prizes, from unique trips to experiences with celebrities. By working with celebrities we can talk directly to their fan base and onboard those fans to crypto in an easy and rewarding way.
Potential impact for web3
Just imagine having the opportunity to go to the Rolling Stones tour, where you travel with the band, go to see the concert from exclusive places and experience all from the inside. Imagine how many people will give everything to have this once in a lifetime experience… these millions of users you are imagining are the users we will help onboard on crypto and create a new generation of donors.
Our impact to the ecosystem could be incredible. On one hand users can win once in a lifetime experiences for free, and by creating experiences for everyone we can potentially onboard the next hundred million users to the ecosystem. On the other hand, we work with B2B companies who act as sponsors for our content and in this way we will be onboarding companies to a better way of donations and their first steps in web3.
Accomplishments that we're proud of
We did an MVP off-chain in Argentina in partnership with the Red Cross. Where we worked with 9 important celebrities. Our business model generates viral content organically and that's how the MVP managed to raise more than 3 thousand users in ~3 months without any marketing budget whatsoever. We also had great media coverage in important channels like newspapers and tv.
What we learned
During this MVP we realized that we had two main problems that come from using traditional web2 concepts. The first is transparency and the second was friction with the users.
What we realized is that when working with donations its very important the trust of the users. One of the things we were getting asked is how can they be sure that the donation to the RedCross was really made. That is one of the main reasons why we started thinking that blockchain was an excellent solution to give transparency and traceability to our model, allowing users to audit what is being made and where their donations are going.
Another thing we started to realize is that we were interacting with the users with a model that is very inefficient and full of frictions, the lottery tickets. Basically, users bought tickets with their interaction and those tickets were the chances they had to win on the sweepstake. This model has, among other problems, the issue that when a user participates one, two or three times without winning they will stop participating and how can the user trust that the draw was made without compromise. That’s when we started thinking of different ways of evolving this outdated participation method and started thinking about blockchain/crypto solutions to eliminate the frictions with the users. This led to our actual model where we have a lossless participation method, being “free” for the users to participate and we use technologies like Chainlink VRF to determine the winners, allowing us to eliminate the frictions with the users, improving their lifetime value and decreasing the churn.
B2B opportunity
During our MVP we were approached by companies who wanted to participate in our content. Basically, we are connecting celebrities, nonprofits and fans sharing incredible experiences, this creates highly viralizable content where they can promote their brands, generating awareness and encouraging sustainability causes.
We created a tool for businesses where they can get different kinds of benefits without doing anything more. Most companies have an annual budget that they donate to nonprofits in order to improve their ESG performance. What we allow them is to make the same donation but get two extra benefits by doing it with us. The first one is that they can participate as sponsors in our prizes getting marketing campaigns without having to invest more and the second is that we allow them to deposit those funds and donate the original donation budget + the yield generated.
It's really a no-brainer for them, they don’t spend more money, they get highly viralizable marketing campaigns and can get more tax benefits from their donations.
Additionally, this is very useful for companies because consumers make them more and more responsible for their environmental impact.
Soulbound tokens as Proof of Donation PODs
We want to create the concept of POD, giving a purposeful use to NFTs. This works as an excellent tool for people to track their donations and impact; with the PODs, we register all the transaction information in the metadata such as who donated, when, how much, and to whom. Being able to record and allow users to see the transaction from “user to use” adds transparency to donations. Also, people having an NFT have a constant reminder of the causes they have been helping and show others what causes they could also help.
Another additional benefit of all this is that users can get donation receipts and have tax deductions for the donations they made around the year. This is not only useful for the users but also useful for companies who sponsor our prizes while making marketing campaigns and improving their ESG performance.
By making our PODs a soulbound token we can use them as badges for users to show the causes they are supporting and as a way of really tracking who is making the donations. Allowing us to strengthen our community and give them additional benefits along the way, such as voting on which nonprofits they want to help next, which types of prizes they want or doing airdrops from partners.
What's next for WOOY
Being Cross Chain: We believe that the future is cross chain, and that blockchains need to be connected in order to improve the user experience and the ease of adoption. This is why we want users to be able to stake on the main blockchains and the main tokens. We want to be able to speak to those who are hodling tokens and give them a purpose use for them. No matter what token the user has and in which network, they will be able to participate without having to swap them and we will do it so users can have a place where they can hodl while having the chance to win incredible experience and helping nonprofits.
Fiat users adoption: Creating once in a lifetime experiences with celebrities allows us to have an excellent tool to onboard the next hundred million users to crypto. By working with them we can talk directly to their fan base and onboard those fans to crypto in an easy and rewarding way. We will have the onramps and education for these users and help them on their first steps on crypto so they can start having financial freedom and in this way help towards financial inclusion.
How we plan to continue
For our go-to market strategy we are planning a couple of MVP test first and then raising a funding round to make a full launch.
We are starting partnership with different companies to create the first couple of prizes and make the first tests with their communities. This allows us to continue validating our model and start leveraging on other communities to jump start our own.
From there we plan on making the first experiences with Argentinian/Latam crypto users for our first season. For our second season start targeting users and prizes for the US crypto community. For our third season, after testing with crypto users, we plan on start focusing in fiat users to onboard them into Wooy.
Hackathon Info, Tracks & Sponsors
- A)https://hackathon-polygon-front.vercel.app/ (for testing you need Aave in mumbai)
B) https://xd.adobe.com/view/08ff3364-8f59-418c-978e-456f7761aa1b-5dac/ (Most updated UX/UI design)
- The summary of the interactions is we allow users to deposit for the chance of winning unique prizes while generating donations. The users when they deposit generate yield in Aave and at the end we use chainlink to choose a winner, the more time and amount you deposit the more chances of winning. Once the pool ends we give a Proof of Donations NFT to all the users for the donations generated with the data of their donations in the metadata of the POD.
https://github.com/wooy-donations‣ (public smart contracts)
- We deployed a smart contract where we allow users to deposit Aave in our platform and they provide liquidity to Aave to generate the yield to participate and donate. The basic interaction we made is the deposit and withdraw function which can be tested.
https://github.com/kitkatfour/pod-polygon
- We made a Proof of Donation (POD) NFT in the form as Soulbound Token. This POD will record all the transaction data of the donation in the metadata (more on the description).
- In this case in the NFT section of the platform you can mint one of the PODs (for obvious reasons in this case there is no donation metadata).
Smart contract Address:
- Pool: 0x26e507ce8ce828abc7fc986c8a19f4354d5b8cd2
- POD: 0x3e8106c9b28a9ABC35a2Fae90909f82c3822049e
TRACKS:
- Main track Public goods: Basically our objective is to help nonprofits raise funds for their causes.
- Secondary tracks:
- DEFI: We allow users to deposit Aave and provide liquidity to Aave to generate yield that is used for donation.
- NFT:We use Proof of Donations NFT to add transparency to the donations.
- Web3 integration in web2: Our source of inspiration for our off-chain MVP was Omaze. But with web3 we eliminated a lot of the frictions on their model.
SPONSORS:
- Filecoin: We used Filecoin to store our Proof of Donation NFT image.
- Chainlink: We use Chainlink VRF function to choose the winner of the prizes in order to be transparent and auditable by everyone.
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