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TL;DR Lucky Friday seeks a LOAN from the Polkadot Treasury in the amount of 567,570 DOT in order to improve the Teddy DAO product and co-market it alongside the Polkadot brand. The loan will be sent to a proxy staking account administered by a multisig account. Once received, Teddy DAO can use the staking rewards to directly fund the future development of the project as well as marketing initiatives aimed at bringing new users to the Polkadot ecosystem, including traditional Web2 donors.
All details regarding our team, its past achievements, as well as the plan for how we will use the funding can be found in the complete proposal <a title="Complete Teddy DAO OpenGov Proposal" href="https://docs.google.com/document/d/14vuuPImyVRqA-bITCwifkGSwG9UTads9zrFjWQ4l07s/edit?usp=sharing" target="_blank" rel="noopener">HERE</a>
Key highlights from the proposal:
<ul>
<li>We have partnered with JustGiving, one of the largest online donation platforms in the world that has raised over &pound;5bn for charity</li>
<li>100% of funds are used to support charity; 1.9% B2B fee goes to JustGiving for payment processing, and the remaining 98% goes to the charity of the donor&rsquo;s choice</li>
<li>The Teddy DAO Foundation is a registered 501(c)(3)</li>
<li>With nothing beyond organic marketing, Teddy DAO has already raised over $11K and seen 3 new users to the ecosystem win a Teddy as well as multiple others joining the community to learn more about the ecosystem</li>
<li>Our all time high donation thus far was 5000 GLMR or ~ $1200 USD at the time</li>
<li>Loaned DOT to be staked with Polkadot validators participating in the 1KV program</li>
<li>At no point will this DOT ever be delegated or otherwise used in OpenGov</li>
</ul>
We are ecosystem agents who believe in the power of Polkadot and its future promise. We believe that Teddy DAO has the potential to become the most widely recognized brand for charitable giving in all of Web3, and we hope the token holders will help us accomplish this mission on behalf of our entire community. Thank you in advance for your consideration, comments, and support. Gratefully, The Lucky Friday Team

- Lucky Friday wants to borrow money from Polkadot Treasury to improve Teddy DAO.
- The loan will be sent to a proxy staking account.
- Teddy DAO will use the staking rewards to develop the project and do marketing.
- Teddy DAO has already raised money and gained new users.
- The loaned money will be staked with Polkadot validators.

#1900 Teddy DAO & Polkadot: A New Way to Leverage Charitable Giving in Web3

No Active Proposals