It is our great pleasure to officially introduce the GIVeconomy — an economy that rewards and empowers those who give to projects, to societies, and to the world.
At Giveth, we’ve been Building the Future of Giving since day one. We started in 2016 by writing the MiniMe token and the Vault contracts, building open-source infrastructure and using it for our donation applications (DApps). Fast forward to this year, we released giveth.io for streamlined P2P giving and Giveth TRACE for customizable fund management and traceable donations, both powered by blockchain technology. These are the building blocks that we’ve been developing to realize our vision for the future. A future in which…
Giving is effortless and people all around the world are rewarded for creating positive change.
Today, our dreams enter reality as we proudly announce the GIVeconomy: An economy that supports projects that create value for society and encourages on-the-ground change-makers to enter web3. An economy that empowers and rewards donors for giving. And, fundamentally, an economy that is owned and governed by those who give.
The GIV Token
GIV is the governance token that fuels and directs the GIVeconomy. GIV holders are empowered to collectively coordinate around shared resources and fund initiatives that shape the Future of Giving.
- Token Address on Mainnet: 0x900db999074d9277c5da2a43f252d74366230da0
- Token Address on xDai: 0x4f4F9b8D5B4d0Dc10506e5551B0513B61fD59e75
At inception, the GIVeconomy has an initial circulating supply of 17.05 million GIV which is available to claim by the Giveth “trusted seed” in the GIVdrop. The distribution of all GIV across the GIViverse is as follows:
Past contributors, crypto donors & Giveth users make up 17.05% of the GIViverse. We’ve allocated 26.95% of GIV to future contributors, the rGIV DAO treasury & future roadmap projects (described at the end of this post) as part of our progressive decentralization. The rest is fueling our GIVeconomy pillars:
- 33% allocated to the GIVgarden common pool to fund proposals governed by GIV holders with conviction voting.
- 13% allocated to reward donors to verified projects with GIV from our GIVbacks program.
- 10% allocated to reward liquidity providers and stakers in the GIVfarm.
To initialize a DAO led by Givers, we have created the GIVdrop. With the GIVdrop, 17.05% of the initial supply has been distributed to the Giveth trusted seed — crypto philanthropists, Giveth users & contributors, and Blockchain4good heroes. These are value-aligned individuals that have been working, directly or indirectly, to further Giveth’s mission, and now are being brought into an ecosystem of collective support, abundance and value-creation. With no VCs or presales, the GIVeconomy is kicked off by the donors, of the donors and for the donors.
The GIVstream provides a continuous flow of GIV to GIVeconomy participants. We call it the expanding GIViverse. The GIVeconomy begins humbly but as time passes, the GIViverse expands and GIV is streamed out to our community of GIVers. In this way, as the GIVeconomy grows & stabilizes, we empower those who support the Giveth ecosystem with increasing governance rights.
h/t @RodriCastillo for the awesome GIF
Those who receive the GIVdrop also receive a GIVstream. Anyone can increase their GIV/week flowrate by participating in the GIVeconomy through GIVbacks, the GIVgarden or the GIVfarm. To learn more, check out our documentation or see your GIVstream flowing.
GIVeconomy Starting Line
We’re launching the GIVeconomy with three key pillars — GIVbacks, the GIVfarm, and the GIVgarden.
GIVbacks is a paradigm shift for the donation space. Instead of relying on sacrifice to drive value creation, we are rewarding the givers. With GIVbacks, 1 million GIV is available to give to donors to verified projects on Giveth every 2 weeks!
The GIVbacks program has multiple advantages:
- It attracts donors — and therefore great projects — to Giveth.
- It ensures the quality of projects on Giveth using our Project Verification system.
- It “gives back” to donors for supporting on-the-ground teams adding value to society.
- It gives donors governance rights so they can direct the Future of Giving.
h/t @mateodaza & our #memes channel in Discord
The GIVgarden is the decentralized governance platform for Giveth and the GIVeconomy. Powered by 1hive, the GIVgarden is where GIV holders can make and vote on proposals to fund value-aligned initiatives that shape the Future of Giving. It has four main components:
- Conviction Voting for fund management
- Tao Voting for executing on-chain decisions
- Our Covenant that outlines standards for on-chain and off-chain community behaviour, and
- Celeste as a decentralized court to settle disputes.
To learn more about the GIVgarden, check out our documentation.
For the GIVeconomy to function, GIV must be easy to acquire. The GIVfarm is the place to grow and harvest rewards while supporting the GIVeconomy by providing liquidity for GIV! We have farming opportunities on Ethereum Mainnet (ETH) and xDai Network (Gnosis chain), and 35 million GIV are allocated to the rewards program for the first 6 months. A further 65 million GIV has been allocated to provide future farming opportunities. Farms are LIVE now and rewards are BOUNTIFUL! 🌾 Check it out here or read more in our documentation. h/t to our partners at DAppNode and BrightID for supporting GIVfarm development!
The launch of GIV and everything above is only the beginning for the GIVeconomy — we’re already crafting the next phase in the Future of Giving. We’re developing systems that completely change the way societies create and reward the creation of public goods.
h/t @karmaticacid & our #memes channel in Discord
We’ve pre-allocated 80 million GIV to fund the development of the following projects. These ideas are raw, exciting, and beautiful and we are heaven-bent on bringing them to fruition! Here’s a quick breakdown of what we’re planning next.
GIVcuration will decentralize GIVbacks! Community members will be able to signal support by staking GIV on projects, and their signal will grow like in Conviction Voting. In GIVbacks rounds, donors who give to community-favoured projects will get more GIVbacks, and GIVcurators will earn rewards on their staked GIV.
We plan to implement a donation matching system for projects on Giveth using Causes. Donors will be able to donate to Cause categories — like environmental regeneration or open-source software — and the funds collected will then be distributed to projects using quadratic funding, h/t to our friends at Gitcoin.
The intention with GIVfi is to create a sustainable way of maintaining funds in the GIVgarden common pool. While donations on the DApp are waiting to be disbursed, they will be generating interest that can be used to buy GIV on the open market and send it to the GIVgarden for funding initiatives using Conviction Voting.
This is the real dream! We want projects on Giveth to evolve into their own microeconomies, and for the platform to become a place for crypto impact investment. This is GURVES (working title) — GIV token holders who stake GIV on a project will eventually be able to “opt-in” to initialize a GIV-backed bonding curve for that project.
h/t @karmaticacid & our #memes channel in Discord
With GURVES, the GIVbacks program will transform! Whenever donors donate to a GURVE project, they will get GIVbacks and some of that GIV will go into the GURVE to mint them “project tokens” & in effect, raise the price of the project token. This way, non-profits who advance in the Giveth ecosystem earn their own economic systems that will turn donors into investors and volunteers into shareholders.
But wait, there’s more…
The core team at Giveth is committed to executing the above roadmap, but this is a DAO and we aren’t alone in steering the ship! 33% of the token supply has been allocated to the GIVgarden common pool to fund the proposals that the Giveth community believe in.
Giveth has been in the crypto donation scene since 2016. We rescued 210 million dollars from the Parity multisig attack, we ran the first scaling-focused Ethereum conference, we created fee-free donation applications, we implemented smooth on-ramps for nonprofits to enter the crypto scene, and that was all solely funded by donations.
The launch of the GIVeconomy is a huge milestone but still just one more step towards building a Future of Giving that we can all be proud of. A future where value-creation for society is rewarded, where altruism becomes profitable, where communities of value-aligned supporters grow and prosper. A future in which we regenerate the earth, we build meaningful connections with each other, we revolutionize economic systems, evolve human coordination and we create societies based on decentralization, freedom, community and love.