Once upon a time, cryptocurrency was an asset unknown to the world. Now, with the opportunities that Decentralized Finance (DeFi) provides, it has almost become the main financial instrument. As more institutional money enters the market, the question remains about the ability of assets to benefit and improve the world. The reality in which so many people have been affected by the devastating effects of the Covid-19 pandemic reminds us that humans are not masters of the planet, but are responsible for preserving where they live.
Institutional investors are already building portfolios that address environmental, social and governance issues in the traditional market; As such, this growth in the cryptocurrency market is expected to continue. Although the impact of cryptocurrency mining has already been accounted for, the market is much more extensive and existing projects are coming to the fore.
Popcorn combines these two concepts with the motto “Do Good with Davy”. Essentially, users have the opportunity to make high profits from cryptocurrencies while making real impact. By developing revenue-generating DeFi products that can distribute taxes to nonprofits, the social good becomes part of the industry at its core, at no cost to it, and increases the power that comes with society.
Looking at this market gap, a member of the Popcorn team shares:
“If TradFi is going through this tectonic shift in investment strategy and ESG’s assets are expected to surpass $ 50 trillion by 2025, what does this mean for ESG in DeFi? a small fraction of the total Assuming the current rate of TVL growth as ESG DeFi evolves and continues to evolve in the ecosystem, what can we expect from good projects? Will they be responsible for training the 100 million users who come to DeFi? ingenuity and reliability are indicators of success, which is why WAGMI. ”
So far, the project has raised $ 6 million from Jump Capital, New Form Capital, Kenetic Capital, Cakebox Capital, The LAO, Impossible Finance, The Crypto Founders Network, Big Brain Holdings, Hestia Holdings, Amino Capital, Drop Ventures, XTBO Humla Ventures. and Angels from MakerDAO, IBM, NASA, Google and Deloitte, to name just a few.
Chasing social influence
In practice, this is done through a decentralized autonomous organization or the DAO model. Unlike DeFi, DAOs look at society, not the financial industry, and convey the ability to direct decisions from the organization to the people.
Popcorn kicks off its project with Butter, a basket of wrapped profitable stablecoins made from DAO bonds and gas-conscious users estimated to generate 20% APY on Tether (USDT), USD Coin (USDC), Dai (DAI), or LP 3pool Curve (3CRV) and socially influential stablecoin. The coin is not only the first of its kind, but it also allows users to influence by simply holding the coin. In practice, stablecoin is the product of a secured loan and repayment process driven by smart contracts on Popcorn.
When users extract value, a portion of the commission – 20 to 50% – is redirected to organizations seeking social impact, some of which are filtered by the token holders themselves. The team is currently inviting civil society organizations to learn more about how to become a beneficiary.
More about popcorn here
The network is integrated with Patch, a leading API platform focused on decarbonization and neutralization through powerful decarbonization projects.
Since then, Popcorn has partnered with organizations such as the Crypto Climate Accord, the Public Zero Emissions Commitment, The Giving Block, and the Vanderbilt University Blockchain Club.
Laid out for future exposure
Initially, the network plans to roll out Popcorn to Mainnet and Polygon (MATIC), with plans to roll out to Phantom Opera (FTM), Binance Smart Chain (BSC), Solana (SOL), and Avalanche (AVAX) in the future. Their potential as a multi-chain return optimizer is offset by other plans for the future to include major recipients, continue mobile app development, and ultimately become a fully decentralized exchange.
The future awaits it, and it certainly looks green.