Introducing Give Together

No Loss Charitable Donations powered by rDAI

Give Together

Give Together allows you to donate to a new charity each week all at no loss to you!

Each week an Ethereum Smart Contract determines a new charity currently from this list (although we are open to adding more!). This week’s charity is Code for America and later today the interest generated will be redeemed to them (the contract became live on the mainnet last week). The interest accrues from the Compound Protocol and is redeemed to the smart contract using rDai. The contract then forwards the funds to the charity of the week!

How does this work?

DAI is a stable coin pegged to USD and serves as the main method for donating on Give Together. Activating your DAI on Give Together is as easy as paying the gas fee on the activate page. Once your DAI is activated it will be exchanged for rDAI a token that is always redeemable to DAI at 1:1. rDAI enables you to earn interest on your DAI and set a beneficiary of the interest. This is helpful for easily donating to causes or charities that you support. You can see a list of causes activate on rDAI here.

After your activated DAI is exchanged for rDAI the beneficiary of your interest is set to the Give Together smart contract. When any funds are sent or redeemed to this contract they are immediately relayed to the charity of the week. At the end of each week Give Together will redeem all of the interest accrued by its contributors. In addition to activating your DAI on Give Together you can also simply send a ERC-20 token to the contract to have it sent to the charity of the week!

Activating

  1. Navigate to the activate page

https://givetogether.app/activate

​2. Enter the amount of DAI that you would like to activate (if you don’t have DAI you can easily swap ETH for it via uniswap)

​3. Click the activate button and pay the gas fee

Paying gas fee to activate your DAI

​4. That’s it you have now activated your idle DAI to donate your interest to a new charity each week! You can view your transaction on Etherscan

Transaction Receipt from activating DAI

Success!

Connect with us and learn more

Note: this dApp is currently in beta and has not been audited

By Lucas Kohorst on January 31, 2020.

Canonical link

Exported from Medium on March 5, 2020.