Title: Own the Impact: Own The Doge Community Initiative
About (short intro): The OTD community has always prioritized social impact, donating millions to charity. However, this has typically been handled on an adhoc basis. This proposal suggests an operational process that can be implemented on-chain in order to maximize impact and community engagement while developing a sustainable donation fund.
Grant Requested: None directly, this proposal is primarily suggesting the framework to operationalize, but previously @tridog has suggested $4200/month sent to different organizations based on community vote.
Please provide a detailed rundown of your proposal: We suggest that our OTD community set up an Angel Smart Treasury through Angel Impact once relaunched on Polygon in August. With a mission to democratize access to financial opportunity, Angel Impact provides fundraising, coordination & investment infrastructure for nonprofits and impact enterprises. Angel Impact’s nonprofit fundraising solution Angel Giving has raised more than $6M for over 180 nonprofits around the world. Using this infrastructure, OTD can easily launch a community donation fund with the following features:
- Allow contributions to the donation fund from anyone, or whitelist contributors as desired
- Allow on-chain community vote to direct funds, can base voting power on $DOG
- Grow donation fund over time similar to how an endowment functions: principle amount is protected and invested into secure low-volatility tokenized yields such as US Treasury Bonds through Ondo Finance. 25% of yield compounds the principle, 75% gets sent to the Current acct to distribute via community vote. In this way, a one-time grant into the donation fund can provide in perpetuity without needing additional OTD contributions. Give once, give forever.
- Optional: Restrict beneficiaries to organizations on Angel Giving with non-custodial on-chain charity accounts, allowing the OTD donation fund to act as a Donor Advised Fund (DAF) and provide immediate tax deductible receipts for contributions
In what ways will this proposal directly benefit the OTD community? (utility, revenue, growth): This will not increase OTD revenue directly, but should positively impact growth while also providing additional utility. By setting up OTD as an on-chain foundation granting funds out on a monthly basis and documenting the impact generated, we create a new reason for people to join the community and have a say in the allocation of funding.
Elevator pitch (why should it be funded?): Beyond growth and utility, this proposal is true to OTD’s spirit and history. It cements OTD’s status as a leading charitable impact project while leading by example and utilizing blockchain technology in it’s purest form: decentralized, non-custodial, and governed on-chain by the community.
Please provide a cost breakdown with reasoning: Please see above, there is no direct budget ask as part of this proposal. It is the first step of a process to determine the right operational mechanism to achieve our OTD charitable community goals.
Is there a revenue element to this proposal? Not directly, although additional growth and utility will likely lead to revenue. In addition, if we take the path of making this an on-chain DAF accepting public contributions for tax receipts, we can add any contribution, withdrawal, or AUM fee we’d like on top.
Are there legal considerations? No legal considerations other than the choice to limit beneficiaries programmatically to nonprofits, which enables tax receipts for contributions. Neither option involves any legal consideration as the tax receipts are provided by Angel’s official nonprofit, Altruistic Partners Empowering Society (APES).
Will this project require developer build time/needs? Only if the OTD community chooses to implement a bespoke branded front end, which may be a good choice as it effectively creates a whitelabel solution. If this is chosen, the lift is relatively light as Angel provides open source front end components and whiteglove service.
Can you receive payment in installments or do you need the full budget up front?: Completely up to the discretion of the community, as these funds would be owned and managed by the OTD community directly.
Meet the Team
Angel is comprised of a global team of individuals with backgrounds in philanthropy and technology, passionate about building a world where humanity is empowered with the financial security to solve our grand challenges. We’re fully doxxed with more information on the team here. Also sharing my personal Twitter and LinkedIn.
Our incredible community raised over $6 million dollars in donations to more than 160 charities, with $1.5M raised to fight climate change, $500k in humanitarian relief for those impacted by Typhoon Rai, and over $200k to support Ukranian refugees.
OTD previously donated through Angel Giving in 2021, but unfortunately the solution was on the Terra blockchain at the time and funds were lost. After the Terra crash, the Angel Giving team pulled from our own runway to make 97% of charities on our platform whole. Lessons learned included (1) offering only non-custodial solutions so donating organizations such as OTD would maintain full control over their funds at all times, (2) relying on safer and less volatile investment options for endowments such as tokenized US Treasury Bonds, and (3) utilizing a more proven and battle tested blockchain ecosystem such as Polygon. To honor OTD’s contributions, we’ve committed to featuring Own the Doge branding on all future photos and videos of relief work in the Philippines from a $500K grant made to a local nonprofit relief organization, Yellow Boat of Hope. The OTD community will be able to take proper credit for helping fund this relief work and publicize on social media, and no action is required from the OTD community to do so (regardless of the outcome of this specific proposal).
Approximately how long will this take from start to finish? The primary critical path is Angel Impact relaunching on Polygon in August (formerly built on Cosmos). Creating an Angel Smart Treasury takes minutes.
Please include a basic chart that identifies the key goals in relation to your timeline.
Provide input on a checks and balances system to ensure consistent progress and optimal utilization of the grant. The solution proposed is fully transparent, on-chain, decentralized, and non-custodial. Funds would flow from an OTD wallet to the OTD donation fund on-chain with admin governance provided by a multi-sig determined by the OTD community and community token governance utilized for grant disbursements. The OTD community would have full control over funds at all times.