Mecenas Protocol
The Future of Giving
THE PROTOCOL
We have seen how blockchain-based projects have evolved in the last 2 years. The big bang has been in the DeFi ecosystem. And there is still a long way to go. We believe that Blockchain has come to stay.
We interpret blockchain as a social change that derives from the technological change it has introduced. And this is where we have decided to combine and take advantage of the blockchain and the DeFi ecosystem to create Mecenas Protocol.
We can define Mecenas as a Permission-less and Trust-less Non-custodial Decentralized Protocol that manages infinite pools of crypto donations generation integrated with AAVE, COMPOUND and CREAM FINANCE lending protocols on EVM blockchain networks.
We believe that Mecenas comes to cover an important need with a more inclusive crowdfunding and fundraising decentralized platform with an intelligent way of financing causes that require donations that does not have the vices of increasingly centralized entities that capture our data, invade our privacy, dictate the terms under which we can exchange value and specify the level of financial risk to which we should be exposed.
All the crypto deposited as donations are deposited in lending contracts to generate interest as yield.
The protocol handles two types of donations: Non Fungible Donations, which consists in depositing cryptos to generate interest without losing possession of the principal which can be withdrawn without restrictions of time and cost, transferring the right of those interests to the owner of the cause, and on the other hand, traditional Fungible Donations where both interest and principal rights are transferred in favor of the owner of the cause.
We make donations a fun habit. The protocol has an in-build lottery, where part of the interest generated is accumulated in a pot that is awarded recurrently among donors as long as they keep their principal deposited. Non Fungible donations participate in the lottery.
Mecenas is an infinite generation pool, since as long as the principal and interests are not withdrawn, they will continue to generate interest block by block. And in those cases where the principal is withdrawn, the interests will continue to generate interests (compound interest).
Given the benefits we believe that Mecenas is a platform that impacts on a social level to become a mass adoption mean of fundraising and crowdfunding.
The use of the platform has no cost neither for the owner of the cause nor for the donors. Obviously, the only thing that each participant will have to pay are the corresponding gas fees for the transactions of each blockchain.
The owners of the pools can at any time make withdrawals of the interest generated and the principal that they have received as fungible donations. The principal of non fungible donations can be withdrawn at any time by the donors without penalty. There is no middle-men. Everything is handled by immutable smart contracts.
The underlying token will always be deposited in the lending contracts and the protocol proceeds to withdraw them when there is a request to withdraw funds from the pool, in order to transfer them to whoever corresponds.
Beyond the definition of patron ... "person who sponsors or protects artists and intellectuals" we extend it to any person or entity that requires a means of fundraising and crowdfunding for a noble and honest causes.
HOW IT WORKS
Once you create your pool, the community will be able to deposit crypto in it. Those crypto from the first moment will begin to generate interest since they are deposited in a lending contract.
The deposited funds earn interest for each block. These are added to the capital to continue generating interest in the next block and so on. As long as you do not withdraw the interest, they will be part of the funds that generate more interest, even when the donors withdraw their principal. These interests are displayed in three groups: Interest, Reserve Fund and Lottery Fund. The interests and the reserve fund are freely available to the owner of pool. The lottery fund is managed by the smart contract. In the event that you need to make a withdrawal of interest or the reserve fund, the pool will transfer it to you at your request and will stop generating interest on that withdrawn capital.
The only one who can withdraw interest, reserves and donations is you. The funds will go directly to the wallet address you used to create your pool.
THE NUMBERS
From 100% of the interests generated by the pool, 75% corresponds to the owner of the cause and 25% accumulates in a lottery pot.
The 75% of the interests are splitted into two items: Interests (50%) and Reserves (25%). Although the total of 75% of the interests can be withdrawn from the pool by the owner of the cause, we have discriminated to raise awareness that while at least the reserves are left without withdrawing in case it is not necessary, the pool will continue to generate interests.
Once the lottery is drawn, the pot is awarded and transferred to the winner, who will receive 75% of the pot while the remaining 25% is transferred to Mecenas for development, marketing and help to kick off campaigns.
TRANSPARENCY: Once Mecenas pool contracts have been deployed, they are immutable without the possibility of modifying their operation. The contracts of each pool are duly published and verified in the corresponding blockchain in order to be audited by the public.
Visit the Protocol at: https://mecenas.mobydick.finance
Last modified 1mo ago
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