Article Summary, Automatically Generated By AI
Summary of Breadchain Cooperative
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Organization:
Breadchain Cooperative -
Goal:
Develop Solidarity Primitives to foster solidarity between individuals and collectives -
First Solidarity Primitive:
BREAD community token on Bread Crowdstaking Application -
Crowdstaking Application:
- Smart contract on Gnosis Chain
- Accepts xDAI, converts to sDAI
- Stakers receive BREAD tokens (1:1 ratio with collateralized xDAI)
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Fundraising Engine:
Crowdstaking Application earns interest
About Breadchain Cooperative: Empowering a Decentralized Future
The Breadchain Cooperative crafts innovative Solidarity Primitives, a suite of development tools designed to foster unity and cooperation among individuals and collectives. Notably, the cooperative has pioneered the creation of the BREAD community token, which is seamlessly integrated into the Bread Crowdstaking Application.
The Crowdstaking Application is a sophisticated smart contract deployed on the Gnosis Chain, which seamlessly converts users’ xDAI into sDAI. In return, stakers are rewarded with BREAD tokens, minted at a 1:1 parity with the collateralized xDAI.
All interest accrued on sDAI is channeled towards funding the collective and its diverse member projects, as determined by a monthly vote among BREAD holders. The Crowdstaking Application serves as a robust fundraising mechanism for the Breadchain Cooperative, while the $BREAD token functions as a local currency within the ecosystem, fostering financial sustainability and autonomy.