“Protocol” is an uncommon word for many and rarely used in a charitable organization. Readers may wonder: what is a “protocol” and how does it operate? We at Angel Protocol are here to answer that question! At its simplest, a protocol is a set of rules. Anyone reading this document is familiar with at least […]
Blockchain giving and surveillance philanthropy: Challenges and opportunities Blockchain technology is reshaping the way nonprofits conduct business. Blockchain participants represent a new donor pool that could prove attractive as a potential revenue source. According to a Fidelity survey, 45 percent of cryptocurrency investors donated $1,000 or more to charity in 2020—compared to 33 percent of […]
Gm, Angel community! Your friendly Angel Protocol team has been heads-down (builders gonna build), focusing on a number of updates to the product and user experience. With the relaunch of our charity marketplace, we wanted to take a moment to share some of those updates with you, our awesome community. In this article – the […]
Gm, Angel community! Your friendly Angel Protocol team has been heads-down (builders gonna build), focusing on a number of updates to the product and user experience. With the relaunch of our charity marketplace, we wanted to take a moment to share some of those updates with you, our awesome community.
In this article – the first of a series – we’ll bring you up to speed on the highlights of what the team has been shipping. Future installments will provide regular product updates to share what we’re doing and what we’ve got coming.
Angel Protocol is fortunate both to run validators across multiple ecosystems and to channel the donations of many (over $6M raised for charity to date) into social impact. Transparency is part of our ethos, and that includes showing you what we’re building.
Grab a beverage (coffee, tea, Red Bull – we don’t judge) and let’s dig in.
Maximizing donation capability means supporting multiple chains and currencies. Donors should be able to donate in their currency of choice – whether fiat or crypto – and maximize their tax advantages.
To that end, Angel has built support for the following ecosystems:
What does “support” mean? In brief: donors can send their donation in their chosen currency, and the Angel Protocol smart contracts will do the swapping and bridging to route the donation to the charity endowment of their choice on JUNO.
Immediate tax receipt generation makes it a cinch for donors to keep records of their charitable deductions (they can also request receipts from their ‘My Donations’ tab).
Angel Protocol’s automatic routing also avoids incurring a taxable event, as users don’t have to perform a swap function that would trigger capital gains tax. Combined, these features make donating a seamless process for the end user.
Setting up a traditional endowment is a marathon. At Angel Protocol, we’ve turned that process into an easy walk. Part of the magic is establishing a CW3 (voting) multi-signature wallet for each endowment. We’ve built an Endowment Admin UI that allows users to easily manage that multi-sig. For example, users can:
For Locked withdrawals, we ensure security with a 2-step approval process, in which the Endowment multisig proposes to their members to withdraw funds. Once that vote passes and is executed, their multisig automagically sends the proposal to the Angel Team CW3 (this will be the Governance contract in the future) to approve the Locked early withdrawal.
Additionally, we’ve established an admin area UI to allow users to create proposals to help govern their funds. Simple endowment management, made possible by smart contracts.
Have a look at the dashboard interface – and if you have ideas to make it better, let us know!
In case you missed it, our charity marketplace is live! Charities are grouped according to the Sustainable Development Goals they serve, with new charities being added week in, week out.
Clicking into a charity shows you key facts about that charity and makes donating super-simple: just connect your wallet. Angel will continue to add charities and to provide widgets & tooling to make the giving process as easy as possible
We’ve been working on many exciting additions in our product pipeline. For example: we’re improving the registration process to make it easier for nonprofits to onboard into the charity marketplace. As well, we’re adding a wallet widget to provide more information.
Perhaps most important, we’re enhancing our support for both fiat and crypto donations with support from Kado Pay & Axelar to maximize donor flexibility and appeal to the widest possible group of donors. If there’s a currency/token you’d like to see added on priority, please let us know!
Nothing above even touches on our upcoming Angel Impact Funds for social entrepreneurs to coordinate, fundraise, and invest, or our complete design overhaul. And we haven’t even mentioned our “RWA” (real world asset) integrations tapping into impact-oriented yields uncorrellated from the broader crypto/financial markets such as emerging market lending through Goldfinch and others. Stay tuned!
Want to learn more? Join Twitter spaces for regular updates (including one today, October 6!) Join us, and find out how Angel Protocol is making it possible for thousands of people to give millions of dollars to hundreds of deserving charities and nonprofits.
Want to contribute to our further development? Send an email to [email protected] with the subject “Volunteer for product development task force”
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