Please describe your proposed solution.
Sustainable Goals Token Research into the Proof of Impact Token (PIP)
This proposal is to take our past research and development on the SGT and use our experience and knowledge to develop a Utility token for the Impact Web3 Ecosystem.
This token will be used for the operations of the Proof of Impact Platform and the Domino DAO. It will also be used for educational resources and developments in the Sustainable ADA ecosystem.
The token will be used for incentivizing actions by DAO members. It will also act as an exchange of value for stakeholders investing in projects through the PIP platform, including the use of incentive pools.
We will be finalizing our new white paper for the PIP token.
We also will be diving deeper into the research to explore efficient and useful ways we can connect the PIP token to Sustainable ADA, Proof of Impact Platform (PIP), and Domino DAO (DD).
Pre-funding research and development:
We were funded for the research of a token for a platform similar to the Proof of Impact platform. An overview of the idea is below.
The Sustainable Goals token to the PIP Token:
The objective of the Sustainable Goals Token (SGT) is to act as an enabler and investment vehicle facilitating investment in impact-focused projects or businesses. Thanks to the innovative Sustainable Goals Platform and Cardano’s technology, anyone with an internet connection and device can become an impact investor. They can connect directly to entrepreneurs worldwide, and not only measure their financial returns but also the impact of their investment.
Main Principles
- A platform and native token that allows you to track, monitor, and support impactful projects, and allow anyone to support working towards achieving the interconnected Sustainable Development Goals (SDGs)
- Assess, track, and verify/audit projects and companies on the SGT platform so users and projects can share data transparently to customers/impact investors, and have a ‘proof of SDG support document (A NFT designed and made by our carefully curated pool of #NFT4Good artists and partners)’.
- Employ and advocate for principles of Blockchain 4 Good, and best practices from the finance industry, and go beyond it with a clear code of Ethics, enabling users to have trust in our platform.
- Collaborate with teams across the Cardano community initially, and the wider Blockchain4Good ecosystem to deliver on the SGT platform.
- Actively report updates on the development of the SGT roadmap, and ways the platform is expanding through partnerships and ongoing progress.
SGT Mission
A platform and token facilitating impact investing, using the advantages of blockchain and crypto, directly connecting you to projects you're passionate about to maximize positive social, environmental and economic impact, and get a return on intention and investment.
SGT to the Proof of Impact Token PIP
What is the PIP Token?
The Utility & Governance Token of the Proof of Impact Platform & Domino DAO
Token Utility:
The PIP token will be designed to have multiple utilities within the Impact Web3 ecosystem which includes the Proof of Impact Platform and Domino DAO.
These utilities include:
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Governance: PIP token holders can participate in the decision-making process of the platform and DAO, voting on proposals, and influencing the direction of the projects.
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Reward mechanism: Users will be rewarded with PIP tokens for supporting NGOs, participating in the platform's activities, and contributing to impact assessment and evaluation.
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Staking: PIP token holders can stake their tokens to earn rewards and participate in the platform's governance.
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Payment: The PIP token can be used as a payment method within the platform for services and access to premium features.
Example of a Token Allocation:
Note: This is not the final token distribution and is subject to changes in the release of our White Paper.
Why does this matter?
"When it comes to the 2030 Agenda, we are all developing countries." - UN
There isn't a user friendly, transparent way to directly invest towards positive social, environmental and economic impact and make progress towards achieving all Sustainable Development Goals (SDGs) you're passionate about.
Investing in SDG's is investing in our future…
This should be accessible for any person all over the world, if we, as a global society, are to make the necessary and urgent strides to accomplish our Sustainable Development Goals by 2030.
<https://act.unfoundation.org/a/sdg-donate>
At the moment via the Joint SDG Fund, people can donate their money and then the funds go towards SDG projects.
Currently, people can make a contribution to the SDGs and ‘Donate’ but there is not any transparent data and proof of impact leaving the donors in the dark and unsure if their contribution actually went toward an SDG, and how much of an impact their donation made.
With Cardano’s blockchain technology and its ability to enable trust, track and trace data transparently, the Proof of Impact Platform PIP will work to address the gap in the market, and help close the financing gap needed to build a better world for all.
According to the World Economic Forum,between $5-$7 trillion USD is needed, annually to achieve the SDGs by 2030. The need for new solutions and ways to get more investment directed towards the SDGs is as urgent as ever.
Currently, “the world is in danger of missing crucial sustainability goals, but the provision of funding can get things back on track”… “investment is sorely needed, especially in emerging markets which tend to be disproportionately impacted by climate change”.
<https://www.weforum.org/agenda/2021/01/the-sustainable-development-goals-can-get-back-on-track/>
Value added:
Providing such a tool like PIP for anyone to use, facilitating citizens and change agents globally in becoming impact investors will be revolutionary.
Giving people the means to have insights and transparency into the actual impact their investments and chosen companies are having, will help catalyze and build greater momentum and trust for other more risk averse investors and institutions.
Emerging markets and economies will become accessible to millions if not billions of potential impact investors who are either entering the digital economy for the first time, or are digital natives looking out for the next unicorn.
Through Proof of Impact NFTs and a PIP token utility token for the platform we can facilitate the conversion of illiquid assets into a digital asset that is accessible and tradable, unlocking new streams of funding and capital that can leveraged to solve global and local problems.
The PIP Token's importance:
A utility token designed for facilitating the transfer of value and providing a means of funding impact projects transparently on Cardano’s public and open source blockchain.
The PIP Platform and Utility token will enable and facilitate the exchange of value, transparently, at competitive rates for any stakeholder, impact company and impact investor. Companies applying to be listed on the PIP Platform will be audited and evaluated by our expert team and will receive a diagnostics as to whether they would benefit from integrating blockchain technology, and are aligned with our PIP values and code of Ethics as an impact-focused organization.
With the use of Cardano’s technology, native tokens & NFTs, the creation and transfer of value will help overcome the challenges and hurdles of Web 2.0 and status quo legacy systems, in favor of the realization of the promise of Web 3.0 and the 4th Industrial Revolution, accelerating the movement of driving power to the people and pushing it to the edges.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
The proposed solution, the Proof of Impact Token (PIP), addresses the challenge by leveraging past research and development on the Sustainable Goals Token (SGT) to create a utility token for the Impact Web3 Ecosystem. By using the PIP token, the operations of the Proof of Impact Platform and the Domino DAO can be facilitated, along with educational resources and developments in the Sustainable ADA ecosystem.
The PIP token serves multiple purposes within the Impact Web3 ecosystem:
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Governance: PIP token holders can actively participate in the decision-making process of the platform and DAO, thereby influencing the direction of projects and initiatives.
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Reward Mechanism: Users will be incentivized with PIP tokens for supporting NGOs, engaging in platform activities, and contributing to impact assessment and evaluation.
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Staking: PIP token holders have the opportunity to stake their tokens, earning rewards and actively participating in the platform's governance.
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Payment: The PIP token can be used as a payment method within the platform, allowing users to access services and premium features.
The proposed solution benefits the Cardano ecosystem in several ways:
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Enabling Impact Investing: The PIP token, along with the Proof of Impact Platform, provides a user-friendly and transparent way to directly invest in projects that drive positive social, environmental, and economic impact. This accessibility helps democratize impact investing and attract a wider range of investors globally.
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Transparency and Trust: By utilizing Cardano's blockchain technology, the PIP platform ensures transparent data tracking, verification, and proof of impact. This transparency builds trust among investors, as they can confidently see the real impact of their investments.
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Closing the Financing Gap: The PIP platform addresses the funding gap required to achieve the Sustainable Development Goals (SDGs) by attracting more investment towards impactful projects. With the ability to track and trace data transparently, the platform encourages more funding and investment in emerging markets, where climate change impacts are often more significant.
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Global Accessibility: The PIP token and platform enable anyone with an internet connection to become an impact investor. This accessibility unlocks investment opportunities for individuals worldwide and fosters collaboration between global citizens and change agents, driving momentum towards sustainable development.
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Unlocking Illiquid Assets: Through the use of Proof of Impact NFTs and the PIP token, the platform enables the trading and accessibility of illiquid assets. This unlocks new streams of funding and capital, providing resources to tackle complex challenges.
By implementing the PIP token and its associated platforms, the proposal aims to enhance the Cardano ecosystem by promoting impact investing, transparency, trust, global accessibility, and unlocking new avenues for funding impactful projects.
How do you intend to measure the success of your project?
We will be looking to measure the following KPIs:
KPIs:
- Number of early supporters
- Number of development updates
- Number of funds raised in token launch
- Number of team members onboarded
- Number of Partnerships
Please describe your plans to share the outputs and results of your project?
We plan to share the outputs and results of our project through various channels, including social media platforms, community forums, and the Sustainable ADA website.
We will publish regular updates of discussions held in Cardano for Good twitterspaces, and feature the achievements of the showcased projects. We will share updates on our milestones and increase marketing efforts to create an impactful PIP token research and development for the Impact Web3 community.