Launching DIVA Donate - A conditional donation platform powered by blockchain technology
By Walodja1987 at
DIVA Technologies AG, in collaboration with Fortune Connect and Shamba Network, is excited to announce the launch of DIVA Donate, the first platform designed to facilitate conditional donations using blockchain technology, more precisely DIVA Protocol, a versatile blockchain-based operating system for derivative products. Learn more about it in one of our last posts.
In this article, we will share all the information you need to know about our first campaign, how you can participate and the rewards available to those who join us in our mission to create a positive impact on the world.
About the first campaign
The first campaign is focused on providing financial assistance to pastoralists in Kenya, a region that faces regular droughts caused by climate change and extreme weather events, resulting in reduced agricultural production, destroyed crops and extreme livestock losses.
The goal of the campaign is to raise $15’000 to provide 100 pastoralists with financial support of up to $150 per pastoralist, equivalent to the value of one livestock, in the event of a drought. The area of focus is illustrated below.
The DIVA Protocol founding team is leading the way by seeding the campaign with $5’000 and will match any donation of at least $150, up to a total of $5’000.
The initiation of the conditional donation product can be verified on the blockchain.
What is the trigger metric?
The Normalized Difference Vegetation Index (NDVI) is a commonly used metric to assess drought conditions in an area by measuring vegetation density and health. It is calculated from satellite images based on the near-infrared and red light reflectance of an area. Its value ranges from -1 to 1, with higher values indicating healthier vegetation and lower values indicating drought stress.
For this campaign, the average NDVI observed between 1st March and 31th May 2023 will be used as the trigger metric and reported by the Shamba oracle on 11th June to ensure full data coverage of the observation period. The NDVI will be shifted by 1 for technical reasons.
Donations will become available when the chosen metric falls below a value of 1.23 and the percentage of unlocked funds will increase linearly until it reaches 100% when the value drops to 1.20 or lower. This range represents the 20th to 40th percentile, respectively, based on historical data, and is much more generous than other comparable insurance products that use a binary trigger point set at the 5th percentile.
The donation profile of the first campaign is illustrated below:
Who will receive the donation?
While our ultimate goal is to enable beneficiaries like pastoralists to directly receive their tokenized contingent claims and any unlocked donations through their mobile wallets without relying on intermediaries, we recognize that we are still early and many are not yet familiar with managing blockchain assets.
Therefore, Fortune Connect will serve as the local intermediary and recipient of donations on behalf of the pastoralists. Any unlocked donations will be converted from USDT stablecoin into the local fiat currency, Kenyan Shillings, and distributed to eligible pastoralists through the local mPesa mobile payment system without them needing to do anything.
How to participate?
Participating in the campaign is simple if you have a browser wallet with USDT on Polygon. Just visit the pilot campaign page, enter the amount you wish to donate, press the "Donate" button, and confirm the transaction in your browser wallet. Note that you may be asked to "Approve" the transfer first in order to grant DIVA Protocol the permission to move the donation asset on your behalf. For a step-by-step guide, you can also check out our video tutorial 📹.
For those new to crypto, there is a one-time setup process to go through to set up a wallet and convert your local currency into crypto assets. Refer to our FAQs for more guidance. If you need support, head over to the diva-donate channel in our Discord and ask your questions.
Donations will be accepted until 13th April or until the $15’000 goal is met.
What’s in for you?
As a donor, you will receive a unique digital certificate in the form of an NFT to commemorate your contribution and showcase your social responsibility to others. The POAP will come in two different designs: one with a golden ring for those who donate $150 or more and one with a silver ring for those who donate less.
Note that POAPs will be distributed after the campaign is closed for donations, that is as soon as the fundraising goal of $15'000 is reached or latest after 13th April.
In addition, donors that donate at least $15 will receive a claim on 3 DIVA Tokens for every $1 donated, which will allow them to be among the first to participate in the DIVA governance once the system goes live on the Ethereum mainnet in April.
Learn more about the role of the DIVA Token here.
Join the DIVA Donate movement to make a positive impact on the world. If you have ideas for campaigns or can contribute meaningfully to fundraising or development, reach out to the team.
About DIVA Technologies AG
DIVA Technologies AG is a Swiss based software consulting firm that consults traditional businesses as well as DAOs in Web3 related topics. The company was founded in 2022 by Wladimir Weinbender, Co-Founder of DIVA Protocol, a smart contract-based operating system for derivative products.
About Fortune Connect
Fortune Connect is a digital financial inclusion hub enabling farmers to access market information, technical knowledge, financial literacy, and financial access tools for credit and insurance in Kenya. Fortune Connect Innovation was started in 2021 and incubated by Fortune Credit before rolling out to several places in rural Kenya.
About Shamba Network
Shamba Network powers an oracle that enables the collection, analytics and use of ecological data on-chain. It provides the web3 ecosystem with infrastructure that allows insight into the physical world, enabling things like ecological impact to be monitored. Through the Shamba oracle, smart contracts can get updated on what is happening on the ground and use this data to trigger a wide variety of actions.
The use of any smart contract-based system comes with the risk of unexpected bugs that may result in the loss of funds. To mitigate that risk for this pilot campaign, a permissioned and upgradeable version of the DIVA smart contract is being used until the audit of the contracts is completed.