GenerEOS donates EOS Block Producer rewards to Charity and the community
GenerEOS is a Social Enterprise Block Producer candidate whose mission is to re-engineer the way that funds are distributed to Charities and Community Projects. This has been our primary goal since inception and now that we have accumulated funds as a paid stand by Block Producer, we can start giving back to those who need it most.
Our goal is to bring these charities and social causes into the EOS fold by providing the donations as EOS. We understand that many charities will not have the resources or know how to access EOS tokens so we plan to take them on this journey and introduce them into the blockchain realm.
GenerEOS Giving Policy
Earlier in the year, we committed to give away 20% of net profit on a quarterly basis to vetted charities and community projects. Our first quarter ended on October 1st and in total accumulated 817.348 EOS ready for allocation to worthy causes. See below for our Q1 financial breakdown:
For safe operation of the block production systems we will continue to allocate 30% of revenue to a savings float until there is enough revenue accumulated to sustain operations for 6 months. After this threshold has been reached, the percentage will be lowered or removed with the exception for market conditions and the remaining diverted back for allocation.
Expenses — breakdown
Until we develop on-chain solutions for nominating/voting on beneficiaries, we developed an interactive interim solution where we held a competition on our Telegram channel and gave away a bunch of POOR tokens and merch in return for voting participation. In total there were 77 entrants that voted on our shortlist of 7 beneficiaries. Here are the results:
Community projects — 360.9 EOS Donated
This fund will give back to the community directly by donating to key contributors that bring value to the network day in and day out. The funds allocated to this pool will be disbursed to individuals that contribute in the following areas:
- Meetups and Dev workshops — starting from $200 AUD per event
- Valuable Articles & Tutorials on EOS related subjects — Starting at $20 AUD each
- Commit valuable code on an EOS related tool — case by case
- Audit code on an EOS related tool and provide a report — case by case
Please submit a proposal for an upcoming event or work you have completed outlining the value and resources/time spent. Each submission will be reviewed for its value and worthiness, funds will be donated based on the contributions value and effort. Donations will be on a first come first serve basis until the pool has been completely disbursed. Submissions are now open, please fill out this form to apply.
Once the projects are selected, we will promote them to our community and give a report on how the funds were spent and the objectives achieved.
The Water Project — 159.2 EOS Donated
The Water Project, is a non-profit organisation unlocking human potential by providing reliable water projects to communities in sub-Saharan Africa who suffer needlessly from a lack of access to clean water and proper sanitation.
Girls In Tech — 116.8 EOS Donated
Girls in Tech is a global non-profit that works to put an end to gender inequality in high-tech industries and startups. They do it by educating and empowering women who are passionate about technology. They offer everything from coding courses to bootcamps to hackathons and startup competitions no matter age or profession. It is Girls in Tech’s mission to support women with the access and community they need to succeed in tech.
Doctors Without Borders — 84.9 EOS Donated
Médecins Sans Frontières (Doctors Without Borders) is the world’s leading independent organisation for medical humanitarian aid. Every day 30,000 field staff are providing assistance to people caught in crises around the world. With offices in 19 countries supporting these teams, MSF help millions of people in distress.
Starlight Foundation — 42.4 EOS Donated
Starlight Children’s Foundation is a non-profit organisation founded in 1982 for hospitalised kids and their families. Starlight programs offer entertainment, education and technology to critically, chronically and terminally ill children.
Sea Shepherd — 31.9 EOS Donated
The Sea Shepherd Conservation Society is a non-profit, marine conservation organisation based in Friday Harbor on San Juan Island, Washington, in the United States. Sea Shepherd uses direct action tactics and information campaigns to protect marine life and inform the public of their plight.
Guatemala Volcano — 21.3 EOS Donated
A catastrophic eruption of Guatemala’s Volcáno de Fuego on June 3, 2018 affected more than 1.7 million people in three central departments, or states. As of Aug. 9 2018, the death toll stood at 165 people, with 260 still missing. This was Guatemala’s most severe volcanic eruption in 45 years. World Vision is on the ground providing immediate relief to survivors.