tl;dr — Proof-of-Donation
Sprout’s initial distribution helps confirm altruism as one of our core values with Proof-of-Donation. Forgive us, it’s a bit tongue-in-cheek. There’s no new chain of work for PoD or any sort of liquidity proof token.
Say you want to participate in this new world of altruistic capitalism we call Sprout, but maybe you’re not feeling bullish enough on the coins our community has selected for staking pools. How else are you gonna join the SEED revolution?
You’ll do it with Proof-of-Donation!
Once the DApp launches at https://sprout.money, you’ll see the option to provide Proof of Donation. There, you merely send ETH in any amount to the contract and receive SEED — Sprout’s native token — in return.
Why is this different than just buying into (swapping for) SEED at a DEX? Because it’s called Proof of Donation for a reason. That ETH doesn’t go to us, or any pool, or anyone. It’s going to the charities pre-selected by our community. And what’s cool is it’s a microcosm of what the Sprout Treasury DAO will be able to do after launch, picking and choosing new targets and causes for the Treasury, which itself is funded by the protocol’s burnfee as discussed in prior articles.
The inaugural charities are:
- Gitcoin
- Ethereum Foundation
- 350.org
- Andreas Antonopolous — note: Andreas’ team has yet to respond to our requests for an address and so his percentage of donations is being sent to a multi-sig until they claim
You’re wondering, what’s the going rate? This is the really fun part. We hope you all like auctions and game theory.
It starts at 10 SEED per donated ETH….
… but then it starts going up, as a 100-day countdown begins ticking.
If you wait a bit longer, you’ll get more and more SEED per your donated Ether. Halfway through the countdown, it’s up to 2x Seed/Eth. Day 90? 10x. And it goes up to 100x on the final day.
And remember, all of this ETH goes to charitable causes and you still get your entry tickets to Sprout as you start receiving SEED.
So if you’re feeling charitable, give a little and get a little.
Only with Sprout!
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