Charitable giving marketplace & ESG platform for companies, to be deployed on web3. eSolidar is now moving into web3 and raising a new investment round to position themselves as a leading charitable giving marketplace and ESG player on the web3, while having the potential to become a powerful growth engine for Harmony network, as all users, charities and business clients would need to connect to its chain.
eSolidar is about charitable giving to NGOs and causes (all SDGs), charity auctions with celebrities and brands, crowdfunding, engaging donors around common causes, etc… Lately, it has been more focused on ESG management for companies (SaaS business model) with employee engagement, corporate volunteering, matching donations, social projects acceleration, impact management, and other services.
eSolidar has previously raised ~€800K from Business Angels, VCs and equity crowdfunding eSolidar | EIS Crowdfunding Campaign | Seedrs and has currently over 1K charitable organizations and almost 100K users. It now aims to become a place on web3 to go when people care about any cause or SDG to support in easy, engaging and exciting ways. The transition to web3 is more pressingly needed, specially after the gofundme incident. eSolidar is still built on web2 with a B2B2C model, mostly focused on the Brazilian and European market.
eSolidar is looking to:
Allow cashin to crypto, and donate to charitable causes people care about in a transparent, trustless and efficient way.
Crowdfunding, charity auctions and sweepstakes (unique experiences, special items/NFTs), that would work much better using smart contracts. It can include funds release through donors voting.
It opens up the possibility of new mechanisms like crowdlending (where lenders deposit the collateral for the loan, or delegate credit to specific causes/communities or beneficiaries)
Gamification on employee engagement and company ESG efforts and reward good actions with tokens (maybe $ESG token), which can be with volunteer hours, donations, vouching for others, power delegation to choose which causes customers and employees think the company should focus on, etc… and companies could have shops with special items that could only be bought with that token. There could also be a leaderboard… (still WIP on several ideas)
Proposal ask
eSolidar is looking to raise up to $1.5M equity at a $7.5M post-money
Metrics for success
Deploy main funding mechanisms into smartcontracts on Harmony blockchain
Onboard over 1K charitable organizations into web3
Raise $1M+ to support several causes this year, including impactMarket.com
Bridge with Celo network
Integrate Celo and Harmony wallets
Reach profitability, have main fundraising mechanisms through smartcontracts, and make philanthropy transparent and efficient.
External links
Examples:
fight for Amazonia deflorestation, partnering with Rock in Rio Brazil, with backstage experiences and signed guitars Amazonia Live
Alex Witt and Sep Kamvar have recently joined the current investment round, and we have been working on a multi-chain implementation strategy and tokenomics. We have started to work with Prexis.io and have been in contact with Optics and Allbridge to help implement a direct bridge between Harmony and Celo networks.
eSolidar will start by deploying new ways to support causes in a transparent and direct way, without the need to spend money, while being rewarded. In this case, when donating (or redirecting the earned interest through lending protocols integration), a fee is used to buy back the eSolidar token. We’re working on the following initial steps to make it happen in the next several months:
Phase 1:
Create a dedicated Dapp where any charity already using eSolidar can choose to be listed. Charities should be categorized by SDG, and be able to create updates where donors can follow them through a feed.
Deploy eSolidar DAO reserve, where token holders can decide where to allocate its treasury, how much is the fee on donations and the split ratio of token rewards between donors and charitable causes.
Donors have 2 options, donate or deposit (and redirect the earned interest). In both cases, a fee is automatically used to buy eSolidar token and send it to the reserve.
Phase 2:
Eventually, in a later stage, charities can create campaigns like crowdfunding, auctions or sweepstake-style through smart contracts (to win special items/experiences/NFTs) to drive more donations and awareness for specific causes/initiatives, while engaging celebrities/brands.
On top of that, there will be an incentive mechanism to reward participants (both donors and charities). For example, by locking part of the total token supply to be released (slowly decreasing overtime) and allocated to donors and charities based on how much was donated (or received as donations), how many tokens they hold and for how long. In this case, both donors and charities are also able to participate in the protocol governance.
We have been also considering to deploy “mini funds/DAOs” per SDG, where charities could request funding based on their reputation and impact.
As main benefits for the philanthropy sector, this will enable:
Possibility to donate without spending money;
Earn crypto for supporting causes;
All participants, both donors and charities have governance power and decide together;
Full transparency, no intermediaries;
More donations = more token demand = everyone wins. And vice versa, the more the token appreciates in value, the more people will be incentivized to donate;
This applies to both users and companies/brands;
It can also be seen as a reputation system, that is, whoever has more tokens for the longest time is who is contributing more to the “health” of the system as a whole.
We believe this is just a starting point to reshape the philanthropy sector. Any feedback/thoughts/questions or intros to potential partners/investors are welcome.
