I am currently working to launch a new token that will be a charity/redeemable/access token.
The idea behind this token is that when users donate BTC to this cause, they receive our token in return. Instead if sending Bitcoin directly to this cause as many currently do, they will use a Tokenly swapbot to purchase our token and the bitcoin will then be donated to the cause. We are still in discussions with the cause that receives current bitcoin donations. I am not 100% sure if we will be able to have the swapbot forward the bitcoin directly to the bitcoin address they currently use, as they have legal concerns about receiving it directly. However, we will find the best way for the bitcoin to be forwarded to the causes current bitcoin address. This may be done via a multi sig wallet that will require 2/3 users to sign the transaction monthly and donate from that address. More info will come on that soon. We will be sure that it is transparent as possible since this is a charity token.
The plan is to donate 100% of the bitcoin donated to this cause minus the cost of the website/domain name which will be hosted on Squarespace and the domain is through Hover. So, minus around $125 per year, 100% of the funds will go directly to the cause. The swapbot fees will also be pulled out directly unless Tokenly decides to donate the swapbot cost free for any amount of time. This may be possible and I will speak with Adam about this when we actually launch the token.
So, what will give this token value?
The first layer of value is that as a charity token, we are giving donors who already have the ability to donate with bitcoin, the ability to purchase our token and have the bitcoin forwarded to the original cause/charity. People are already giving bitcoin to this cause, why not thank them by repaying them with a token that has value as a redeemable and access token.
The second layer of value of this token will be the access token. I cannot give away details just yet, but there will be a TCV forum here on LTB that will have a few special guests and offer access to material that they otherwise would not have access to. I don't want to ruin this by giving away who/what the access to the forum gives, but it will be a large part of the value of the token.
The third layer of the token is the redeemable ability of tokens. We want users to have a token that they can use to redeem goods or services with. Anyone can donate bitcoin to a cause, but this allows the users to build a mini-economy around a cause. This should help with visibility for a project and also with incentive for users to continue to donate or to donate more.
The final layer of the token is value for vendors/supporters. Not only do we want to support good causes through charity tokens, we want to support companies/projects/individuals who give redeemable value to our token. We can do this in a few different ways and I'm always looking for feedback from vendors in what we can do to support them in exchange for their charity. For now, anyone who donates a good or service, even in a small, limited amount, or offers a % off with our token, will be rewarded with promotion.
We can promote your project via 728x90 and 300x250 banner ads on our site, a page on the site that lists vendors/supporters (you will stay listed even after any limited goods/services or % off expires). We want people to continue to see your brand on our site as a supporter of our project. We also will give shout outs via social media, podcasts or any mainstream media coverage we receive. We will take advantage and name drop our supporters as much as possible. Many people love to support companies/brands that they identify with and charity sponsorship is a key part of any business.
If you would like more info or are interested in joining our cause, please reach out to me here on LTB or on skype at kristharp78. We need supporters in order to give our token value and we want to help grow businesses through supporting our vendors.
If you would like to offer a good or service, a % or BTC/$ amount off, no matter how limited, please reach out to us. This is for a cause that is somewhat bitcoin related and they currently accept bitcoin donations. We want to help them out and show them support.
Please leave your comments and feedback below. We also always need good people who are willing to pitch in on a project like this. PM me if you are interested in that. I look forward to hearing everyone's thoughts on this.
I believe this is just another way to show that Counterparty tokens are useful. I hope that we can find unique ways to use and implement charity tokens.