impactMarket [OLD]

PACT

impactMarket is a poverty alleviation protocol that enables any vulnerable community to implement financial inclusive mechanisms, like Unconditional Basic Income (UBI). It is an application-layer protocol designed to fight extreme poverty quickly and effectively, while empowering local & social change, bottom-up economic development, and prosperity. After 1 year, the protocol already distributed $1.6M+ cUSD as UBI to almost 30 thousand beneficiaries living in the most vulnerable communities in 25+ developing countries. It operates as a DAO, on top of the Celo network, uses cUSD (Celo Dollar) as the main digital currency and $PACT as its governance token, while running autonomously through smart contracts. Beyond UBI, impactMarket is working on providing free access to more financial services. Given the Celo network design and its current DeFi ecosystem, impactMarket is uniquely positioned to drive DeFi adoption and retention by integrating & offering DeFi solutions directly on mobile to those who need them the most.