As part of our token creation process we have earmarked $200M of our coin for allocation to registered charities over 5 years following our product launch, and we are also pledging 20% of the cash raised during the token sale, with the total to be used within our pay-it- forward model. Under this model we will credit app using registered charities with a special ‘tracked and traceable’ coin called ‘Kudos’, and watch as they utilise this donation to do good deeds.
We hope that charities use the app to organise events and the income we provide to incentivise and reward participation. When an app user receives Kudoscoin they will be given information about it, for example:
The coin then becomes something of a ‘hot token’ with the oldest coins typically having done the most good within society, and we hope that by providing this data it will encourage people not to spend all of their reward but instead donate some of it back to a charity of their choice, to be used once again in charitable enterprise.
For a more detailed explanation, please see our primers on the 2-coin system and pay it forward model available to download at the top of the home page.
Each time the app is used to send a payment, or document a process via the execution of a smart contract, a fee is charged and a contribution to charity is made. App users will be given the option to select the charity they wish this money to be paid to (by asking them to choose a charity each time they execute a smart contract, and/or by facilitating a default choice via their user profile) and Canyudo will credit the nominated charity accordingly.
At its core the app asks ‘what can you do’ to make contribution within your community. If you are not an official charity worker but would like to organise a charitable event in your area, we may be able to help. Send details about yourself and your idea to firstname.lastname@example.org and we will be in touch once our token sale is complete.
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