Introducing CHERR.IO MVP2!

Charitable giving has long been a cornerstone of human society, and over the years, technology has played a vital role in facilitating social good activities. The rise of blockchain technology has created new opportunities for transparency, decentralization, and accountability in the world of social good, but there are still challenges that need to be addressed. CHERR.IO aims to tackle these challenges with its newly developed MVP2.

👋 Hello MVP2!

The first version of CHERR.IO introduced Proof of Charity, integrating web2 projects, but the new MVP2 takes things to a whole new level. With Proof of Charity Protocol, CHERR.IO is now combining investing and donating, and it aims to create a trusted standard for social good, where anyone can post a charity project on any platform and benefit from CHERR.IO’s features and functionalities.

🔎 Background

One of the biggest challenges in the world of charity is still the lack of transparency of where the funds went and how successful the project was, as well as high overhead costs. There are many existing blockchain-based charity solutions that make crypto donations more accessible, yet they often only enabling simple crypto donations without providing additional features or benefits.

CHERR.IO addresses this issue by enabling secure, immutable, censorship-resistant, scalable, faster, accessible and more efficient on-chain donations.

In addition to these benefits, CHERR.IO offers a range of reward mechanisms that encourage active participation in the platform. These mechanisms are part of a larger trend in Web3, which is focused on building brand loyalty through gamification and innovative earning protocols. These protocols enable people to earn passive income through their crypto holdings, which in turn incentivizes them to stay engaged with the platform over the long term. DeFi (decentralized finance) is a key driver of this trend, as it provides new and innovative ways for people to earn passive income through their crypto holdings.

🍒 CHERRIO’s Features

Integrated DeFi protocols are also a major feature of MVP2, using the “money legos” phenomenon (staking, lending, yield farming …), which allows users to earn rewards while indirectly donating to charity projects by performing DeFi-related activities. The Proof of Charity rewarding gamification system is another exciting feature, with community members acting as governors (Cherrions), who receive PoCh tokens (Points CHERR.IO Tokens) as a reward for online volunteering — that is, any activity with regard to governance, or promotion. With reaching a certain level of PoCh, they also gain social reputation, and receive SBDs (Soul Bound Token) that enables them more voting power for activating projects and greater benefits.

Other features of CHERR.IO Protocol will include an SDK for an easy integration as an added value service of web3 projects, play-to-donate games, Charity Projects Analysis Module, metaverse, NFT launchpad, and more.

Instead of developing yet another blockchain charity platform, we intend to set a trusted online standard for charity by combining different financial protocols and platforms to create a new product, a protocol in our case, that others could use.

🚀 Launch A Project

Launching or choosing a project is straightforward, and anyone can list a cause as an inactive project that needs people (Cherrions) to activate it and receive rewards for their action. To activate the project, Cherrions show support for the project and back it up with native tokens. Donors can donate in crypto, and to mark the project as successful, only 10 % of the approximate project value needs to be collected. If more than 60 % of the approximate project value is collected, activators are also rewarded for their support.

⛓️ CHERR.IO’s Platform

CHERR.IO Platform is being developed as a sandbox, where users and potential web3 developers can test the platform’s features by interacting with the platform. Users can donate, activate or add a project, as well as deposit funds into the DeFi protocol and watch their assets grow, all while indirectly donating to good causes at the same time.

🪙 CHR Token

With CHERR.IO, the tokens’ usage goes beyond governance and includes unlocking projects, voting if funds from organizations were spent correctly, rating organizations after each fundraising project is completed, deciding where funds from the emergency pool should be spent, and exchanging PoCh points for CHR tokens.

🏁 What Happened So Far

CHERR.IO MV2 has already achieved several milestones, including smart contracts deployment on Polygon, TRON and Ethereum Testnet, partnership with DSID (digitalsocial.id), and Web3StrongerTogether partnership.

🌱 Join The New Era

As we continue to evolve and expand, our goal remains the same: to create a trusted standard for charity that leverages the power of web3 protocols.

With CHERR.IO Protocol, you can make a difference, while also participating in the web3 revolution, and benefiting from the growth of the ecosystem.

Joining CHERR.IO is an opportunity to be part of the movement of people and organizations who are committed to making a positive impact on the world and creating a more equitable world, and where giving is not only selfless, but also financially smart.