Addresses define identities. Following the rights confirmation standard of addresses as identities for the world of Web 3.0 and introducing decentralized governance, we designed Binance Smart Chain-based Charity DAO, a blockchain-based smart contract product connecting a group of decentralized people. Consequently, in Web 3.0, philanthropy will not incur any problems related to political positions or legal matters due to individual identities. Now Russian millionaires can donate to Ukraine refugees, and Korean entrepreneurs can also provide financial aid to the poor in North Korea regardless of restrictions from the government. Thus, the original purpose of philanthropy can be realized.
The Charity itself means value. Charity creates value in humanism, and it deserves to be recognized and rewarded, so we introduce the CHD token, which will be used as a reward for donors. Some of the donated coins will be used to maintain the liquidity and value of CHD so that more people can recognize and participate in the whole ecosystem of Charity DAO. And then CHD will become more scarce, hence the price increase, allowing early donors to be rewarded and charities receiving CHD to get more donations.
Governance rules humanity. Many other charities have gradually become political tools or wealth collection tools due to the problems of their managers. Thus, based on the concept of decentralized autonomy organization and considering humanism, we offer our participants the option to donate or not to donate, which conforms to human nature, and we also destroy and distribute the CHD that should have been donated out. If good intentions outweigh greed in a DAO organization, then the amount that should have been donated will be donated in full for targeted humanitarian aid, and each DAO member will also receive the NFT of the donation certificate, recording the glory of humanity; if the greed of the organization is greater than its goodwill, then half of the coins that should have been donated will be destroyed, and the other half will be distributed to DAO members who will get the NFTs recording the greed of human nature, and the CHD will be destroyed to reduce its circulation, thus benefiting the entire ecosystem. We fully respect the governance outcomes chosen by human nature, and both outcomes will benefit the entire ecosystem.