The Exponential Giving Fund turns 4 years old... Reaching more farmers with more funding!

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On November 13, 2018, hand in hand with the Triodos Foundation and the crowdfunding platform huertoseducativos.org, we materialized an idea to transform one-off and finalist donations into recurring funding for our farmers. 

 

And after four years of that pilot, we can inform you with great satisfaction that time has validated our hypotheses. As we announced at the time, "we wanted to give a new meaning to these altruistic actions and make them last over time, generating much more impact. We wanted these small contributions to take on a life of their own and continue to be valid over time, achieving the purpose for which they were donated but increasing the amount donated and the impact produced", over time. And so it has been.

So we raised 1,012 euros from dozens of donors of Huertos Educativos. Veteran ethichubbers will remember that on those days we were still using ether to fund the projects. So, those 1,012 euros turned into 5.5 ethers that went entirely to the San Rafael community. When the coffee farmers paid back the project, we reinvested the principal plus the interest received, in a new project and when this was paid, we repeated the operation. And so on, again and again. 

During this time, it has not only been the community of San Rafael that has benefited from these donations, but also many others, such as Chanjalé, La Boquilla, Salchijí, La Soledad or Pavencul. A total of 9 projects have been financed thanks to the generosity of donors who did not expect any economic return on their contribution, only the personal satisfaction of collaborating altruistically with an initiative that was intended to generate a social impact. 

This has been the case over the last four years. And it will continue to be so in the years to come. Because the donations received were not destined for a single final event. Within the fund, they have endured over time, going far beyond their original purpose. Today, two communities benefit from the fund's resources for a total amount of almost $1,700. In four years, the fund has grown in volume by more than 60%. Isn't that wonderful? 

We would like to point out again one of the most remarkable features of technology; the transparency it provides us with. Anyone, with a minimum of knowledge can verify what we are telling you, without the need to trust us or other central entities. 

Here is the public address linked to the fund. Although we inaugurated it on the Ethereum blockchain, now it is also operational on the Gnosis blockchain. An important fact in case you want to enter the address in a blockchain explorer to explore the life of the fund:

0xf902edca5977ae1a24414137d0e7d4561cc4ae07

Many thanks to those early donors who participated in that pilot altruistically and to the organizations involved in launching the fund four years ago. We are very proud of the success achieved and of having been able to demonstrate that "there is a new way to do things".

Topics: Impact

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