Social Capital is the ERC20 token that is offered to investors into worlunteers or NGO/NPO as a reward for their engagement. Social Capital is a crypto token that runs on the Ethereum blockchain and can be traded on decentralized exchanges like uniswap. It is also the payment method on soca.market where investors can reward themselves and support artist with the acquisition of extraordinary art work.
Social Capital is expected to enhance social cohesion and aims to raise the awareness for private investment into public goods. It is also an economical factor either for the investors, the artists, the volunteers or the NGO/NPO.
Social Capital ist paid out in different ways for different groups, but before we go into detail we would like to introduce the basic necessities for your Ethereum account. Watch the following video to setup your Metamask wallet. An easy and comfortable entrance gate to the crypto economy and web3.
The Metamask browser extension is also available for Firefox. It stores all of your Ethereum token, including Social Capital, and it is required to enter soca.market.
Metamask is also available as app. You can use your seedphrase or your password to login. REMEMBER there is no password reset. In case you forget your password please use the seed phrase to login into your wallet. It will always be connected from any device.
You can use the Metamask extension for the Firefox browser also. Move to the top menu on the right handside of Firefox and search for the add-on option. Hit the option and look up for Metamask. Install, set a password and write down the seed phrase. Finished.
Now you are able to store your Social Capital token which we will send to your wallet address. It is also the Login method for soca.market, which accepts Social Capital only so far.
If you would like to trade your Social Capital token, you can use uniswap as a decentralized exchange. A decentralized exchange (DEX) is a very new technology that is developing at the moment and allows for peer-to-peer transactions of coins and token without any intermediary.
Alright, let us move on to the next chapter on How to get Social Capital. Worlunteers.org offers different options:
- Become a worlunteer. Worlunteers.org tops up any donations made below the marginal income threshold in Social Capital. That means. If you are located in Austria, e.g. and you receive 200 Euro in donations, we will compensate the difference of 260,66 Euro with 260,66 SOCA.
- Donate to a worlunteer. Worlunteers.org pays out the same amount of Social Capital for each Euro donated.
- Donate to a NGO/NPO. Donations to NGO/NPO are treated in the same way as donations made to a worlunteer.
- Donate to worlunteers.org. We treat ourselves the same way like any other NGO/NPO.
Last but not least, you can find the smart contract of and transactions made in Social Capital on etherscan. This is a trust issue that we would like to address. The amount of donations made is always equal to the amount of social capital payed out. If there is any inconvenience it can always be looked up in the public blockchain of Ethereum.
Alright thats it. Welcome to worlunteers.org and to the future of fundraising. Our work is still in progress and we are working on the white paper to publish on etherscan for the Ethereum Foundation. We are looking for supporters and participants also. Please check out jobs@worlunteers. You are very welcome.