With the introduction of ThorBlock v2, we find ourselves extremely excited about charity pooling. At its core, Charity will afford the community and those outside, a bridge to close the gap between charitable donations and digital donations. It will drive endless possibilities of adoption through impactful outreach. Affording opportunities to those less fortunate; donating to natural disaster efforts; preserving an element of our planet; these and other selfless causes will be the focus of an entirely new element: COVE
Charitable Outreach for Vibrant Efforts
Charitable Outreach for Vibrant Efforts (COVE) is the charitable outreach element of Safe Haven. COVE has been created to oversee sponsored charitable efforts deemed appropriate by the membership [of COVE]. COVE will be made up of Safe Haven management and several members. Together, they will navigate through charitable efforts worldwide to conduct:
- Research efforts
- Conduct voting efforts
- Designate entry into [COVE]
COVE members will have been considered for voluntary membership by holding a Legacy Node (SHA) [Note: not to be confused with SHA Government, these are two different structures.] Also this requirement may not always hold true, as the parties could later change the volunteer standard.
Once total membership is established and all parties are onboarded, they will look to establish the first funding period. The evolution of a funding period can be outlined as:
Members of COVE will identify worthy charities in which to approach regarding a charity period on ThorBlock.
COVE will vote on charitable organizations that they believe will garner the most interest based on their cause.
After the COVE vote has taken place, Safe Haven will reach out to the approved organizations in efforts to establish contact with their respective parties.
Discussions will be held to educate targeted charities on ThorBlock and opportunities presented therein.
Terms will then be set between Safe Haven and the charity organization. These terms will include:
- Pooling period
- Disbursement terms
- Blockchain/cryptocurrency guidance
- Marketing efforts
This period includes all community outreach efforts and those conducted by Safe Haven COVE to ensure:
- Information is available about the charity
- Pooling terms and conditions
- Ongoing support is available
Funding rounds can last up to 90 days.
Donations can be made in any VIP180.
- Any VIP-180 token can be contributed to the pool, the value of that token will then be converted into VET; the charitable organization will be the pool admin and decide whether to maintain VET or convert to fiat at the completion of the period (this can be converted into FIAT/BTC, with Safe Haven guidance).
Distribution of Funds
The charity that maintains admin status of the pool will be guided by Safe Haven on how to access and utilize the funds donated.
Effect on Burn and Community Pool
Due to the charitable nature of COVE, gas accumulated and utilized for a COVE funding phase will not be contributed to the community pool. 100% of all gas utilized will be [converted to SHA and] burned by Safe Haven.
Establishing Communication Within COVE
Safe Haven will identify Legacy holders through the Node Application and a simple verification questionnaire. Once identified, interested persons will be sent an NDA for signature and invited into the private COVE Telegram channel.
Communication within the COVE telegram will be strictly dedicated to all aspects of charity sponsored pooling.
COVE’s goal is to increase activity within sponsored charity rounds, through the use of ThorBlock. We also look to obtain more input from those within the Safe Haven community by including all Legacy holders. We expect that COVE will open doors with charities that are not aware of what a partnership with Safe Haven/COVE could mean for their own charity. COVE will allow for the introduction of the ThorBlock technology into the charity’s funding wheelhouse. Further, they will also be educated on how they can sponsor their own charity pools, which would be supported by Safe Haven’s development/technical team.
As always, we also thank our community for your continued support.
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