Article Summary, Automatically Generated By AI
Summary of impactMarket
- impactMarket is a poverty alleviation protocol that enables vulnerable communities to implement financial inclusive mechanisms like Unconditional Basic Income (UBI).
- It operates as a DAO on the Celo network, using cUSD (Celo Dollar) as the main digital currency and $PACT as its governance token.
- impactMarket aims to provide free access to more financial services beyond UBI, leveraging the Celo network’s DeFi ecosystem.
- Key features: application-layer protocol, autonomous smart contracts, and mobile accessibility.
- Goals: fight extreme poverty, empower local and social change, and drive DeFi adoption and retention.
About ImpactMarket
impactMarket is a pioneering poverty alleviation protocol that empowers vulnerable communities to implement inclusive financial mechanisms, such as Unconditional Basic Income (UBI). As an application-layer protocol, it is specifically designed to combat extreme poverty with unprecedented speed and efficacy, while fostering local and social change, bottom-up economic development, and prosperity.
impactMarket functions as a decentralized autonomous organization (DAO) built atop the Celo network, leveraging cUSD (Celo Dollar) as its primary digital currency and $PACT as its governance token, all while operating autonomously through the execution of smart contracts. Beyond Universal Basic Income (UBI), impactMarket is dedicated to providing unfettered access to a broader range of financial services. Given the Celo network’s design and its burgeoning DeFi ecosystem, impactMarket is singularly positioned to drive the adoption and retention of decentralized finance (DeFi) solutions by seamlessly integrating and offering them directly on mobile devices to those who stand to benefit the most.