Givepact
Givepact is a Web3 charitable giving platform for digital assets.
Website: https://www.givepact.io/
HQ: New York, New York, United States
Active Markets: North America
Problem Addressed
Digital assets are growing as a market for charitable giving but are limited by the absence of sufficient off-ramps for organizations to accept donations in cash.
Project Description
Givepact facilitates crypto donations and provides documentation, receipts, and auditability. The organization is a Web3 501(c)(3) donations platform facilitating charitable contributions in the form of digital assets and cryptocurrencies. Givepact supports donor contributions submitted through the platform in over 50 tokens, including Bitcoin, Ether, and USDC, with over 500,000 nonprofits to donate to. Donors receive a Proof of Donation nonfungible token, which grants them access to vote for decisions made about the Givepact DAO treasury, which is funded by transaction fees. Givepact smart contracts split each donation 95/4/1. 95% of the donation goes to the nonprofit, 4% goes to Givepact, Inc. and 1% goes to the Givepact DAO Treasury. The donation is immediately converted into cash before being sent to the intended organization.
Givepact also offers Donor-Advised Fund (DAF) capabilities. DAFs are tax-efficient mechanisms to give to charities that, over time, allow donors to recommend grants to qualified organizations.
Business Data
Status: Active
Constituency Served: non-profits
Networks: Ethereum, Bitcoin
Known Investors: Outlier Ventures, Angeles Investors, Pipeline Angels
Additional References: N/A
Progress to date
Givepact launched their project in June 2023. Since launch, Givepact has expanded their donation capabilities to over 513,000 nonprofits.
Business Model
Givepact generates revenue and allocates funds for the DAO treasury through platform transaction fees on donations.
Traction
Givepact has facilitated $4,900 in donations through 32 total donations as of May 2024.