What if you could utilize the power of blockchain technology to help support critical social impact causes worldwide? That is the essence of Lido Impact Staking.
With this innovative philanthropy blockchain model, you can stake your Ethereum and donate some of your returns to financially support social causes you care about, such as poverty reduction, climate change, infrastructure, and education.
People participating in Lido Impact Staking will not donate any of their principal capital when staking Ethereum to support social causes. They only give up a small portion of their staking rewards. They can choose to donate as little as 1% of their rewards or as much as 100% of their rewards. Either way, they will still retain their principal amount of Ethereum.
Eliminating High Entry Requirements
Lido Impact Staking also eliminates the high entry requirement of other blockchains for solo staking. Previously, the only way to participate in solo impact staking was to stake a minimum of 32 ETH, which the average individual does not have nor can afford. Lido Impact Staking removes this high staking barrier to allow people to stake whatever amount of ETH they have available and contribute to meaningful causes with total transparency. It also removes the requirement for staking infrastructure.
When you are ready to donate a portion of your rewards to a particular cause, you can choose from one of several vetted social impact causes, such as CO2 sequestration by planting trees or poverty alleviation through GiveDirectly and Grassroots Economics. Lido Impact Staking provides recurring and sustainable funding to social causes rather than one-time donations. That allows it to have a more long-term impact in helping the causes achieve their goals.
Any non-profit organization can apply for support from donors that stake via Lido Impact Staking, and get approved to become part of the ecosystem. However, such organisations should note that there is application and all the impact data from your work will be on chain and public.
As a result, this impact staking model will incentivize more people to stake their ETH crypto assets and inadvertently become philanthropists who contribute to worthy social causes they care about. People who would have never been philanthropists can now create real-world impact regardless of wealth or location. That is the power of Lido Impact Staking.
The Origins of Lido Impact Staking
Jaydeep Korde, the CEO and co-founder of Launchnodes and Lido Impact Staking, developed the idea for impact staking after spending time in the Central Asian country, Tajikistan, and East African country, Rwanda. Although Korde worked in the field of software and technology as an engineer, his wife was involved in humanitarian aid and international development work that took them to these countries. Most of her work involved improving the lives of children.
Korde witnessed the massive challenges between donors and non-profit organizations in the humanitarian sectors in these countries. The donors often had limited capital and hesitation to donate too much money out of fear that the non-profits were not utilizing all the donated capital to support the social causes presented to the donors. It frequently led to the donors monitoring and evaluating the non-profits and judging them based on their progress in improving these causes.
In some cases, the non-profits had to prove to the donors that they were using the donated capital to their fullest potential to help these causes. If there were any sense of a moral or operational failure, the donors would be reluctant to donate any more money to the non-profits.
The Power of Impact Staking
Korde found a way to use his software and technology expertise to increase trust between donors and non-profits. His idea was to enable donors to support social causes without requiring them to give up any of their capital. The donors only have to donate some of their staking returns to the non-profits while keeping the rest of their returns and all their capital.
The donors are incentivized and more engaged to help support social causes on a long-term basis rather than one or two times. This long-term support from donors means that social impact organisations get funded on a perpetual basis, even if the donation amounts are smaller per each donor. Eventually, small reward donations add up, and create a greater impact.
Final Words
If you’re ready to support meaningful causes without giving up your ETH, start impact staking today. You can choose from several live social impact causes to support with a portion of your staking rewards:
Poverty relief – GiveDirectly & Grassroots Economics
CO2 sequestration – Treedom
School internet funding – UNICEF
