I wanted to propose that we, as a DAO, contribute to Crypto Relief, which is a community-driven effort to mobilize funds and resources to support COVID relief in India. It was started by Sandeep Nailwal, co-founder of Polygon. In less than a week, it has organically grown to a community of 800+ members.
Over $3 million has been raised so far, including donations from Vitalik Buterin and Balaij Srinivasan. ~$1 million has been donated to ACT, whose immediate goal is to tackle the shortage of oxygen supply. They plan to support the deployment of 50,000+ oxygen concentrators across India.
Here are a few items the Crypto Relief community is currently working on:
- Sourcing essential equipment from around the world and supplying it to under-resourced facilities
- Setting up Oxygen plants and dedicated COVID centers in underserved areas
If anyone has further questions, please let myself or @HelloShreyas know.
There are a couple of ways we could do this. One is to donate some INDEX from the Treasury outright. I don’t have a strong view on the amount - I’m sure we can come with something as a community. The second option is for Index Coop to match donations of its contributors. This is pretty common in the traditional corporate world.
I believe that DAOs and crypto protocols more broadly can have a significant role in financing public goods and charitable causes around the world. The Coop could be a leader in this space and act to catalyse action from other DAOs.
Adding a couple of quick polls to gauge support.
If you answered “Yes” above (if you support either option, please just pick one and leave a comment)
- Donate outright
- Match donations of its contributors
EDIT: It looks like there’s some general support for this, with some valid caveats. To move this forward, I’d like to propose that we make the donation from the DAO, with 50% of the total amount donated outright and 50% reserved for matching. I’m adding a poll to gauge the total amount after which I will put forward a formal IIP.
How much should Index Coop donate:
- $50k (split 25k/25k between outright and reserved for matching)
- $25k (split 12.5k/12.5k between outright and reserved for matching)