ADA + Compassion Fund

[GENERAL] Name and surname of main applicant

Wondemagegn

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Individual

[GENERAL] Co-proposers and additional applicants

No

[GENERAL] Requested funds in ada

32000

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

7

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Create ADAplus Compassion, a platform where donors use ADA for digital donations and receive token rewards, fostering transparency, trust, and motivation to continue supporting causes.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

Yes

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

Compassion Institution:

The project depends on the Compassion institution for its support and collaboration. Their involvement is essential to ensure the project’s outreach and alignment with the institution's mission. Any delays or changes in their engagement could impact the timeline and success of the project.

Cardano Community:

The project relies on the Cardano community for technical support, adoption, and promotion. The strength of community involvement is critical for building trust and expanding the project's reach. Any slowdown in community participation could affect project momentum.

[GENERAL] Will your project’s output/s be fully open source?

Yes

[GENERAL] Please provide here more information on the open source status of your project outputs

Why I Chose to Make the ADA + Compassion Funding Project Open Source

When I started the ADA + Compassion Funding Project, one of my core values was transparency. I wanted to create a platform that not only connects donors with recipients but also fosters trust through open communication and accountability. By making the project open source, I believe we can achieve these goals more effectively.

First and foremost, open sourcing the project invites collaboration from developers and contributors around the world. This collective intelligence can lead to innovative solutions that I might not have considered on my own. By sharing the code, I’m hoping to harness diverse perspectives and expertise, ultimately improving the platform for everyone involved.

Additionally, transparency is crucial in building trust with our donors. When people can see the underlying code, they can better understand how their donations are processed and utilized. This openness reassures donors that their contributions are going directly to those in need, without hidden agendas or unnecessary intermediaries.

Moreover, open source aligns with the principles of the blockchain technology we’re using. It embodies the spirit of decentralization and community involvement that is fundamental to the Cardano ecosystem. By allowing anyone to review, use, or improve the code, we’re creating a platform that reflects the values of collaboration and shared responsibility.

Lastly, I believe that making the project open source will inspire others to develop similar initiatives. By sharing our journey and code, we can encourage a movement toward more transparent and impactful charitable giving across the globe.

In essence, choosing to make the ADA + Compassion Funding Project open source is about building a community, fostering trust, and driving innovation. I’m excited to see how this decision will shape the project’s future and enhance the positive impact we can have together.

[METADATA] Horizons

Financial Services

[SOLUTION] Please describe your proposed solution

ADA + Compassion Funding Project

Problem Perception: In traditional charity donation systems, like the Compassion model, donors typically send funds through banks to sponsor children or families in need. While this process connects donors to recipients, it often lacks meaningful engagement and transparency. Donors receive occasional letters from the recipients, which creates a sense of distance and limited connection. They rarely get to see the real-time impact of their donations or track the progress of the individuals they support. This lack of direct, ongoing interaction can leave donors feeling disconnected and unmotivated over time.

Solution Approach: The ADA Plus Compassion Funding Project aims to revolutionize this donation system by leveraging the Cardano blockchain to create a more transparent, engaging, and rewarding experience for donors. This platform will allow donors to send their funds using ADA, ensuring a more secure and efficient process than traditional banking.

Instead of merely receiving occasional letters, donors will have real-time access to information about the beneficiaries. They will be able to track the educational progress of children they sponsor, see updates on how the funds are being used, and even engage in online conversations with the recipients. This interaction will go beyond simple communication, fostering a close bond between donors and beneficiaries—similar to the feeling of family.

How the System Works:

Enhanced Donor-Recipient Connection:

Donors will be able to communicate with the children or families they are helping via secure online platforms, eliminating the long waits for letters. This creates a more interactive and transparent relationship, allowing both sides to share regular updates, photos, and stories.

Donors can track progress such as educational achievements, health improvements, or other life milestones of the recipients in real-time. This enhances the emotional connection, ensuring that donors feel more personally involved in the growth and success of the people they are helping.

Donor Rewards via ADA Staking:

One of the key features of the platform is that it integrates ADA staking. When donors make contributions using ADA, they not only help those in need but also earn rewards through the Cardano staking system. These staking rewards act as a continuous incentive for donors, motivating them to contribute more regularly, while simultaneously benefiting from the growth of their ADA investments.

This way, donating becomes a mutually beneficial process. Donors not only see the positive impact their donations are having but also earn financial rewards, which can be reinvested into the system or used for personal gain.

Global Transparency and Trust:

Using the Cardano blockchain, donors will have full transparency regarding where their donations go and how they are spent. Every transaction is verifiable, ensuring that donations reach their intended recipients directly, without any unnecessary middlemen. This builds trust and ensures that donors feel confident about the impact they are making.

The system will also provide accurate and detailed information about the beneficiaries. Unlike traditional methods, where the connection is often indirect, this platform will give donors immediate and reliable insights into the lives of those they are helping. This level of detail can include family backgrounds, educational needs, and community challenges, all contributing to a more meaningful and informed donation process.

Engagement and Impact:

Who the Project Engages: The platform will engage donors from economically stable regions who seek to make a difference in the lives of those in need, primarily children and families in developing countries. It will also engage recipients, such as students and families in adversity, giving them a platform to communicate and build a close relationship with their benefactors. Charitable organizations can also benefit, using the platform to streamline donations and improve transparency.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

The ADA plus CompassionFact project positively impacts the Cardano community by integrating ADA into charitable giving, enhancing its utility and adoption. By rewarding donors with staking incentives, it fosters ongoing engagement and encourages more individuals to join the Cardano network. As donors receive tangible rewards, their confidence in the ecosystem grows, further promoting the use of blockchain in real-world applications. This initiative positions Cardano as a leader in combining financial growth with social good, ultimately creating a stronger, interconnected network that benefits both donors and recipients.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

The ADA plus Compassion Fund project significantly enhances the capability and visibility of the Cardano ecosystem by leveraging blockchain technology to facilitate transparent and efficient charitable giving. By integrating a reward system for donors, the project not only promotes the use of ADA but also highlights its potential in driving social impact.

This initiative provides a platform for donors to see the direct effects of their contributions, enhancing their engagement and fostering a sense of community. As a result, it showcases the effectiveness of Cardano's technology in real-world applications, thereby increasing the visibility of ADA in philanthropic efforts.

Moreover, by connecting donors with recipients in need, the project creates a narrative around the positive impact of Cardano, attracting attention from both potential users and investors. This increased visibility can lead to broader adoption of ADA, further establishing Cardano as a leader in utilizing blockchain for social good. Ultimately, the ADA plus Compassion Fund enhances the capability of the Cardano community to drive meaningful change while showcasing the versatility of its platform.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Project Planning and Research (Month 1)

Platform Development and Design (Months 2-3)

Testing and Feedback (Month 4)

Marketing and Community Engagement (Month 5)

Launch and Evaluation (Months 6-7)

[RESOURCES] Who is in the project team and what are their roles?

The ADA plus Compassion Fund project will be managed by a single individual, utilizing personal networks and connections with various funding organizations to engage with the Compassion community. While the main responsibilities lie with one person, additional support will come from collaborators throughout the process to ensure successful implementation and outreach. This streamlined approach will facilitate efficient decision-making and leverage external expertise where needed.

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Milestone 1: Project Planning and Research (Month 1)

Budget: 4,000 ADA

Conduct market research and define project objectives.

Network with funding organizations and the Compassion community.

Milestone 2: Platform Development and Design (Months 2-3)

Budget: 12,000 ADA

Design user-friendly interfaces for donors and recipients.

Develop backend infrastructure and integrate Cardano blockchain technology.

Milestone 3: Testing and Feedback (Month 4)

Budget: 6,000 ADA

Conduct beta testing with select users.

Gather feedback and make necessary adjustments to the platform.

Milestone 4: Marketing and Community Engagement (Month 5)

Budget: 6,000 ADA

Create marketing strategies to promote the platform.

Engage the Compassion community to build awareness and trust.

Milestone 5: Launch and Evaluation (Months 6-7)

Budget: 4,000 ADA

Officially launch the AdaPlus CompassionFund platform.

Monitor performance, evaluate impact, and plan for future enhancements.

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The AdaPlus Compassion Fund project offers great value for its 32,000 ADA investment. It increases donor participation by providing staking rewards, fostering community engagement. Using Cardano’s blockchain ensures transparency, allowing donors to track their contributions and see their impact, building trust in the system. The platform is scalable, serving more donors and recipients over time, maximizing long-term benefits. It directly supports those in need, driving social impact. With low overhead costs and continuous improvements from user feedback, the project ensures that ADA investments lead to meaningful outcomes for both donors and recipients.