In addition, we will be reserving 2.5% of funds raised to cover overhead costs (1% for multi-signature wallet and Juicebox gas fees, 1.5% for enDAOment, our fiscal sponsor’s transaction fees) as managed by the core team. This project’s goal is to run on a short time frame we intend to distribute all of the funds as quickly as possible, and then spin down the project before the end of January. Holders will then vote on the proposals which will determine the distribution of funds. Are aligned with ElfDAO’s mission and confirm that they can deliver gifts within 6 months of receipt of funds.Meet Endaoment’s due diligence and funding policies.Are registered as 501c3 in good standing with the IRS.These organizations could include community centers, orphanages, churches, or other groups who meet the following criteria: The core team plans to put forward a few initial funding proposals as well. Governance token holders will be encouraged to submit funding proposals that allocate a portion of funds (min grant size: $50k) to a charitable organization. The core team has ideas listed below, but remember, we're all elves here, and we want to hear from you.
The short answer: The DAO will have the ability to choose how and where we spend the funds. Stay tuned for announcements on discord and twitter! Where will the Funds go? They hold no governance value and will simply serve as a personal memento for the project (not to be resold).Ĭlaiming will be available soon. We are also reserving some Worker Elf NFTs for community members who have made outsized contributions towards this project. If you are one of the first 970 contributors to donate 0.5 ETH or more, you can claim only the Reindeer NFT and not an additional Elf NFT. *Note that each wallet (other than that of the top five contributors) will only be eligible for one NFT. Our Santa NFTs will be airdropped to the top five contributors of our elfDAO Juicebox at the end of the fundraising period.If you are one of the first 970 contributors to donate 0.5 ETH or more, you will be eligible for a Reindeer NFT token.If you donated 0.1 ETH or more, you will be eligible for an Elf NFT token.There will be three NFTs available to the public: Santa, Reindeer, and Elf. The claim eligibility for the NFTs varies based on your Juicebox contribution amount. To thank our contributors for their generous contributions, we will be offering thank you NFTs for contributors to claim. This will be used to make sure that the team has a meaningful say in governance.Īfter the project ends, the core team’s token allocation will be burned. The core team will receive 33% of governance token supply as donations flow in through Juicebox. The tokens’ sole purpose is for governance and voting rights for elfDAO’s use of funds. Governance tokens give you voting power within elfDAO, meaning that you’ll help decide how our funds are spent. The $GIFT TokenĪll contributors will receive governance tokens proportional to your donation size, at a 670,000 $GIFT/ETH ratio. On our Juicebox site contributors can directly donate any amount in ETH before December 31st. At $25 USD per gift, our goal is to give 40,000 kids a gift this holiday season. We want to raise $1,000,000 USD by Christmas. That’s why we’re aiming for a big but worthwhile goal. That’s 7.4 million kids missing out on the joys of Christmas in the US alone! There are 74 million kids under 18 in the US. One in ten families can’t afford to buy gifts this year because of financial strain made worse by the pandemic. Join us on our adventure to work, build, and contribute to the greatest effort to spread holiday cheer in the world. In a world where we can utilize awesome tools like DAOs and Defi to fund community projects, it's a no-brainer for us to help children have a happy holiday season.ĮlfDAO is launching a 12-day fundraising campaign from December 20th to December 31st for the first ever Web3 toy drive. However, let's remember that there are many kids that don't get to celebrate Christmas like we do. As we gear up for the holiday season, we plan meaningful moments around gifting our loved ones. For many kids around the globe, Christmas marks one of the most special days of the year.
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