Charitable donations are steadily growing each year. In 2021, over $480 billion was donated to charities established in the United States. This large and well established sector of society and the economy has benefited tremendously from the Internet in general, social media, and targeted advertising tools. It is now time to develop and implement tools that bring the benefits of blockchain and specifically decentralized finance (DeFi) to the charity space.
Thanks to innovations in the field of blockchain technology, several new DeFi and regenerative finance (ReFi) protocols are looking to positively impact the world. By creating more transparent and efficient systems, DeFi protocols like IHELP can act as a new bridge between capital and charitable organizations.
What is IHELP?
IHELP is a donation protocol currently deployed on Avalanche that allows anyone worldwide to support established charitable causes via traditional donation or an innovative yield donation mechanism. The protocol’s mission is to serve DeFi tools to crypto holders to securely and efficiently express their charitable intentions.
The protocol provides an efficient direct donation mechanism to crypto holders. 95% of the crypto donated is directed to the charity and the remaining 5% is split equally between the HELP staking rewards pool and the IHELP protocol treasury wallet.
IHELP’s yield donation mechanism is delightful. IHELP has created a system where donations are deposited in AAVE or Trader Joe to generate yield that is then programmatically and efficiently distributed to the charity’s wallet. Specifically, 80% of the yield generated is directed to the charity selected by the donor and the remaining 20% is split equally between the IHELP staking rewards pool and the IHELP treasury.
IHELP rewards yield donors with $HELP tokens. These tokens can then be staked for a claim on a portion of all yield and direct donations that flow through the protocol. 10% of all yield and 2.5% of all direct donations are distributed daily to all wallets that stake HELP tokens.
The initial deployment also includes a basic leaderboard that ranks donors and charities by activity. Users can add a nickname in their Dashboard that is then displayed in the Leaderboard ranking. Many features will be developed to improve the leaderboard module, so stay tuned.
We welcome all to join us in this journey. For more information, please visit our official website and socials (Twitter, Discord)
