What is impactMarket?
impactMarket is an innovative poverty alleviation protocol that aims to enable vulnerable communities to access financial inclusive mechanisms, such as Unconditional Basic Income (UBI), to quickly and effectively fight extreme poverty. The platform operates as a decentralized autonomous organization (DAO) on top of the Celo network, using cUSD (Celo Dollar) as the primary digital currency and $PACT as its governance token. Through the use of smart contracts, impactMarket empowers local and social change, bottom-up economic development, and prosperity.
As a DAO, impactMarket is governed by its community members who hold $PACT tokens. They have a say in decision-making processes and play a vital role in the platform's development and success. The platform's unique design allows for quick and efficient poverty alleviation by providing access to financial services that were previously unavailable to many communities.
impactMarket's primary goal is to provide Unconditional Basic Income to vulnerable communities. However, the platform is also working on providing free access to other financial services to help individuals improve their financial situations. The Celo network's DeFi ecosystem makes it an ideal platform for impactMarket to integrate and offer DeFi solutions directly to those who need them the most.
The use of smart contracts on the Celo network ensures that impactMarket operates autonomously, eliminating the need for intermediaries, which can be costly and time-consuming. This approach also ensures that the platform is transparent, secure, and free from manipulation.
impactMarket's governance token, $PACT, is used to make community decisions about the future of the protocol, pay for protocol-specific features and services, and vote on proposals. The platform launched $PACT in 2021 with 1 billion tokens created at genesis. 50% is reserved for community rewards programs, 20% for ecosystem and treasury, 20% for team and advisors, and 10% for strategic partnerships.
The platform's founder, Peter Ladner, is a renowned social entrepreneur who has worked extensively in the field of poverty alleviation. He believes that empowering individuals with access to financial services is the key to breaking the cycle of poverty. Peter is supported by a team of experts in various fields, including blockchain technology, economics, and social impact.
impactMarket's goal is to drive DeFi adoption and retention by providing financial solutions directly to those who need them the most. By integrating DeFi solutions onto the platform, impactMarket aims to create a more equitable financial system that is accessible to everyone, regardless of their social or economic status.
In conclusion, impactMarket is a unique platform that is transforming the way vulnerable communities access financial services. With its focus on poverty alleviation, community governance, and decentralized autonomous organization, impactMarket is well-positioned to drive DeFi adoption and retention while empowering individuals to break the cycle of poverty.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.Try for Free