impactMarket $PACT

impactMarket is a revolutionary poverty alleviation protocol committed to empowering vulnerable communities through the implementation of inclusive financial mechanisms such as Unconditional Basic Income (UBI). Designed to combat extreme poverty effectively, the protocol champions social change, bottom-up economic development, and prosperity.

How impactMarket Works

Operating as a Decentralized Autonomous Organization (DAO) on the Celo network, impactMarket employs smart contracts to run autonomously. It utilizes the Celo Dollar (cUSD) as its primary digital currency and the $PACT token for governance. In its first year, the protocol distributed over $1.6 million cUSD as UBI, impacting almost 30,000 beneficiaries across more than 25 developing nations.

Beyond Unconditional Basic Income

While UBI remains a fundamental aspect of impactMarket, the protocol is also striving to provide broader access to essential financial services. Given the design of the Celo network and its thriving DeFi ecosystem, impactMarket is ideally positioned to promote and retain DeFi adoption. It achieves this by integrating and offering DeFi solutions directly to mobile users who need them the most. The goal is to bring about a significant positive change in the lives of individuals in the most vulnerable communities globally.

Key Features of impactMarket

impactMarket is distinguished by its application-layer protocol intended to combat extreme poverty rapidly and effectively. It significantly contributes to local and social change, economic development from the ground up, and prosperity. The protocol has already proved its efficacy, having distributed substantial UBI to thousands of beneficiaries in its first year of operation.

Conclusion

Through an amalgamation of innovative technology and a deep commitment to social change, impactMarket is making strides in poverty alleviation globally. By offering inclusive financial services directly to those who need them the most, the protocol is not just fighting poverty but also paving the way towards economic prosperity for all.