Make room for crypto in philanthropy

With the exponential growth of blockchain, the world has finally witnessed the use cases of cryptocurrency and blockchain technology for social undertakings and non-profit organizations. As some projects have begun donating part of their income to charities, there have been positive trends in this area.

However, there is almost no direct connection between blockchain projects and non-profit organizations that can truly benefit from transparent technology. As a solution, the DeFi protocol Baby Santa enables investors and organizations to donate to charities through cryptocurrency. The platform has the characteristics of convenience, transparency, and transaction speed. It aims to provide investors with a channel for investors to donate to charities through staking proceeds on the platform, thus becoming a new form of income for charities .

How does encryption help charities raise funds?

according to Fundraising Professionals Association (AFP) Charitable donations have fallen by 6% in 2020, resulting in substantial loss of income. Nevertheless, compared with the previous year, online fundraising activities increased by 17.2%.

Combining blockchain and cryptocurrency with charitable fundraising further expands the way organizations raise funds. It also provides a transparent medium for donations, allowing both donors and recipients to trust.

Some organizations have begun to accept donations of Bitcoin, Ethereum, stablecoins and other digital currencies. In addition, decentralized applications are now creating direct channels to contribute to social causes. With more than 150 billion U.S. dollars invested in this field, more initiatives seek ways to promote the cryptocurrency charity movement.

NFTs have recently become the forefront of fundraising, providing more than just direct monetary donations. There are several recent examples that NFTs are used to raise funds for charitable organizations. In March 2021, the Open Earth Foundation received $6 million from Beeple’s NFT sale for charitable artworks.

This altruistic movement has made tremendous progress, providing the charity sector with transparency, inclusiveness and global influence. However, there are some problems that continue to plague the charity sector.

Existing challenges in the industry

One of the main problems of crypto charities is the belief that lack of funds will achieve their goals. There are countless cases showing that donations collected through encrypted funding platforms did not reach the intended recipients, but fell into the wrong hands.For example, members of the organization Fazer Clan Suspended because their “Save the Children” cryptocurrency is a scam. Despite being recognized by popular influencers, the token is still subject to a carpet pull.

Another challenge facing charity tokens is the source of funds verification. Since cryptocurrency transactions are confidential, it is difficult for reputable charities to verify the source of funds received. If the funds come from unknown or malicious sources, this can cause problems for the organization.

Little Santa simplifies the encryption charity process

Baby Santa is a DeFi protocol that focuses on helping the unfortunate. The native cryptocurrency of the platform is Baby Santa Token, which aims to encourage the healthy development of philanthropy.

The idea behind Baby Santa is to provide value to those in need, while also incentivizing platform investors and users to donate more. Baby Santa will serve as a revenue-generating system, distributing profits to those in need. The project is not limited to this, but also aims to benefit investors by enabling them to receive secondary income in the form of BUSD rewards. Holders can also choose to increase compound income through Baby Santa’s Workshop Pools. It will also collect pledge funds from pledge tax and repurchase, which will be distributed to users who pledge their tokens.

Baby Santa will hold a 12-day Christmas NFT sweepstakes, at which time users will be selected by casting seasonal NFTs at the Nutcracker NFT Mint Event. The proceeds of this NFT Mint will be donated to the organizations and social causes that need it most. In addition, Baby Santa will mint NFTs under the names of different regions, and the funds raised from these NFTs will be donated to specific causes in these regions.

In addition, the platform will have a merchandise store, whose proceeds will be used for those in need. Even clothing collections will adopt seasonal themes to promote projects and empower charity programs that are active throughout the year.

Towards a more charitable future

Charitable intentions are never a simple matter, because lack of trust and transparency often brings challenges. However, the introduction of blockchain and encrypted philanthropy has shown some promising results. Little Santa promises to be a gift of dedication, spreading the spirit of Christmas throughout the year.

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