Grace - Ethereum-based Donation Platform




  • Fundraising with Maximal Impact

    Ethereum-based Donation Platform — drastically increased exposure and donations for any fundraising campaign at no upfront costs, with economically incentivized Advocates who help spread the word.

    Core Concept

    Grace introduces a proprietary, smart contract -based incentive mechanism on the blockchain to vastly improve the current way charity fundraising campaigns are run, as well as the way donations are made. Grace allows organizations to delegate promotional work to incentivized network users, known as Advocates, without incurring marketing costs up front. This enables promotional efforts to leverage the power of social marketing, to scale limitlessly. In 2017, 63% of marketers say generating traffic and leads is their top challenge.[ 5 ] Advocate-driven social marketing is an effective solution to the problem which gives organizations the ability to focus on staffing in other areas and frees up resources to be allocated elsewhere. Advocates on the Grace network select campaigns that fit their interest, experience, and value, and help spread the word for the cause in their own ways. They are compensated for the work, by receiving a percentage reward of the donations set by the campaign creator. Professional social marketers and influencers are likely to make up a sizeable portion of the Advocate network, but the real beauty lies within the enabling nature of the platform. Relatively unskilled or low-income individuals can freely contribute to a cause by encouraging others to learn about various charity campaigns running on Grace, while receiving reasonable rewards to make the charitable work a financially sustainable one. Over time the network itself will reach an efficient state where a balance is struck between the numbers of professional and amateur Advocates, and become a viable source of income for both demographics. When Donors are ready to make a monetary contribution to a fundraising campaign, they can make their donations directly on the Grace platform. Transactions are securely stored on the Ethereum blockchain. Each donation is held in a smart contract until release conditions are met - these conditions are specified in depth during the creation of the campaign and once the campaign is live, can be reviewed by the Donor before a donation is made. In traditional settings, Donors’ impact is limited to the amount of direct donations they make. Through the Grace platform, nonprofit organizations can enlist the help of Advocates on the network, who may be informed and passionate about the cause but for various reasons may not be as suitable for monetary donations, or simply individuals who treat the promotional work as an income source. Some people are great at raising awareness about a cause, while others are more comfortable

    “earning to give”. Everyone has something valuable to offer - the collective efforts
    facilitated by a pragmatic reward mechanism are poised to maximize the exposure
    and the values created for any given charitable cause.

    Advocate Incentive Mechanism

    For many marketers, lead generation is a big challenge. According to results
    recently published by Hubspot, 53% of marketers indicate that at least half of their
    budget is allocated to lead generation, and 58% of marketers say their lead
    generation budget will increase in the coming year.[ 6 ] This represents an enormous
    opportunity where Grace can provide unique value.
    Grace elegantly solves the promotion problem with its Advocate Incentive
    Mechanism, which provides economic incentives for Advocates to promote a cause.
    Through word-of-mouth and social marketing, Advocates generate campaign
    exposure that attracts interested parties to donate, or to become Advocates on
    Grace themselves.
    Advocates are rewarded for their effort, with a percentage of the additional
    contributions generated. This reward percentage is set at the time of creation of
    each campaign.
    The diagram below illustrates this mechanism. For simplicity in the example,
    assume conversion rates of 1 ETH = $250 = 3,000 GRCE, excluding network
    transaction costs. As well, a reward percentage of 5% is used in this case.
    In example (a), Donor Bob discovers the Against Malaria Foundation (AFA)
    campaign listing by himself on the Grace platform and makes a donation. In this
    case, the Grace smart contract simply converts the contributed amount into GRCE
    tokens and transfers them to the beneficiary at the specified time of release.
    In example (b), the original Advocate Chris' promotional efforts result in two new
    users on Grace: Bob, a Donor who decides to contribute to the AFA through Grace;
    and Jessica, who is inspired by Chris’ work and becomes an Advocate herself. Chris
    receives 60 GRCE for Bob’s donation. Jessica, by bringing on an additional Donor
    Martin who donates 2 ETH (6,000 GRCE), receives 300 GRCE for her work.


    Advocate Incentive Mechanism
    The Incentive Mechanism aligns the Advocates’ interest with greater social interest.
    Every party involved, namely the campaign Beneficiary, Advocate, and Donor’s
    actions are all economically better off in terms of value generation. The potentials
    and benefits of this network effect are immense.

    Technology & Blockchain Utilization

    Overview

    The Grace platform runs on the Ethereum blockchain, which is a reliable technology
    for recording and executing smart contracts in a secure and decentralized manner.
    Cross-border transactions on the blockchain can be carried out with minimal costs,
    as opposed to the hefty fees traditional donations incur. As well, the smart contract
    releases funds only to the intended recipients, and no one else.
    The smart contract facilitates realization of the Advocate incentive mechanism.
    Quantifications of Advocate contributions reference the involved campaign, which
    determines the reward percentage. The Advocates thus automatically receive
    transfers upon successfully attracting additional donations to the campaign.
    The Grace smart contract can also be customized to include conditions for the
    release of funds, such as development milestones that the beneficiary must meet.
    In addition, since all donations are recorded on the blockchain, there is an
    increased level of transparency, allowing the public to audit the flow of money.

    Verification of Beneficiaries

    It is important to know the recipient address for donations on the Grace network is
    indeed the same entity it claims to be outside the network. Grace implements a
    multi-level verification process that assigns labels to the beneficiary depending on
    its status in the process. This gives donors more confidence when making a
    contribution.
    Each beneficiary on the network is asked to submit information such as website,
    email address, physical address, and any relevant documents for verification. Such
    information will be made public for all users to see. This means anyone on the
    network can perform audits on any beneficiary. If anything abnormal is noticed, a
    participant in the network can flag the suspicious beneficiary. Verification statuses
    can be revoked at any point, even after completing all levels of the process, if
    enough participants flag the entity as illegitimate.

    • Email verification : Grace sends an email to the address submitted,

    containing a unique verification link. It would be very difficult for the
    verification applicant to have access to the link unless the applicant has
    access to the email account.

    • Phone verification : Grace makes an automated call to the phone number

    with a 6-digit code. The applicant must enter the code on the web verification
    interface within a specified time window.

    • Website verification : Grace generates a HTML meta tag with a unique hash

    value that only the applicant of the verification can see. The applicant is to
    include the meta tag on their main website. If Grace sees the unique hash
    when visiting the website submitted by the applicant, we know the applicant
    is the owner of the website.

    • Manual verification : Contributors to the Grace platform can perform

    manual checks on the beneficiary in a variety of ways. This may include
    performing online searches, calling the phone number submitted, or even
    visiting the physical address.
    More advanced verification schemes may be added in the future depending on the
    need as decided by the community to minimize fraudulent activities - specifically to
    filter out malicious parties posing as known registered organizations.
    In addition to the general verification process, we have plans to directly reach out
    to established nonprofit organizations around the world. Since these organizations
    are onboarded manually, they may be exempt from part of the usual process.
    However, they remain subject to community vetting and verifications at all times,
    to ensure the highest level of validity and transparency.

    Seamless Integration
    There have been a number of initiatives by leading nonprofit organizations to
    implement transactions and donations using blockchain, as the technology gained
    more popularity and mainstream attention in recent months. Many of these efforts
    seek to eliminate the prominent problem of corruption by various approaches.
    Looking forward, we expect this trend to continue and there would be more
    innovative solutions addressing the current inefficiencies in the operation of
    nonprofit organizations.
    Grace is designed to be easily integrable with these new solutions. For example,
    UNICEF is working with London-based Donorcoin to curb corruption [ 7 ], by
    implementing a staged payment system where the prepaid funds are released only
    upon milestones being reached. While UNICEF and Donorcoin focus on converting
    donated funds into material impact, Grace’s role is more focused on the main bulk
    of the promotional work - to efficiently maximize funds raised in the first place. In
    general, by utilizing the Grace platform, any fundraising campaign or charity can
    benefit from additional exposure, without increasing their overhead costs, or
    spending resources recruiting marketing talents.

    Token Sale:

    Pre - Sale:

    Our presale is over. Crowdsale starts in:

    56Days12Hours32Minutes4Seconds

    Total supply is permanently fixed at 120,000,000 GRCE

    Tokens for Sale:

    96,000,000 GRCE

    Conversion rate 1 ETH : 3,000 GRCE

    For details about post-sale funding allocation, please refer to our whitepaper.

    DO NOT use an exchange-based ETH wallet address. You will not be able to receive GRCE tokens.

    A total of 120,000,000 GRCE tokens will be issued. The token supply is permanently
    capped at 120 million, making it intrinsically deflationary. 20% of all GRCE tokens
    issued are withheld and 80% are sold in the token sale.
    GRCE tokens are sold at an exchange rate of 3,000 GRCE per ETH. During pre-sale,
    purchases are rewarded with 20% extra tokens until the pre-sale period closes 7
    days later or reaches its cap of 20 million tokens. Once the official contribution
    period has started, further purchases made are not rewarded with a bonus. As soon
    as a contribution transaction is confirmed on the Ethereum blockchain, the
    corresponding amount in GRCE is released to the sender’s address.


    Token Sale and Contribution Allocation Model

    The incentive GRCE tokens for the Grace team are locked in an escrow contract and
    we will have no access to these tokens, until core features on the Grace platform
    are finalized and the platform is released. We will be keeping all of the released ETH
    contributions in cold storage as to alleviate any potential security flaws and
    malicious activities to obtain the funds. There is no plan to sell-off any amount of
    ETH raised, and we will only take from the fund when an expense occurs which can
    only be resolved in fiat.
    15% of GRCE tokens issued are reserved for market incentives - controlled
    collectively by all GRCE holders. Each quarter, holders get a chance to vote on
    utilization of the quarter’s market incentive allocation. We expect potential
    utilizations to include donations to designated charities, distribution to holders, or
    burning of the allocated tokens. Keeping the allocations to four times a year
    provides the community ample time to coordinate and decide on the best
    utilizations, as well as allows them to take reactive actions each quarter based on
    the sector’s changing landscape.
    In terms of the ETH raised, 50% are locked in an Escrow contract and will remain
    inaccessible for one year. 25% immediately go into Grace reserve and are used to
    fund the most pressing aspects of development. The remaining 25% are subject to
    a decentralized governance mechanism - a primarily community-driven way to
    control and release the funds when appropriate, to minimize potential misuse of
    funds. If the Grace team need to draw from this Community Controlled Reserve, a
    proposal needs to be made and be approved by the community, within an allotted
    timeframe which length is based on the significance of the proposed use.
    Idle ETH in the Grace Reserve are staked and are expected to yield periodical
    staking rewards, which will primarily be added to the Community Controlled
    Reserve, and are also possible to be distributed directly to GRCE holders. Exact
    allocations are to be determined.

    Budget Allocation


    Funds raised during the contribution period will be used for the development and
    benefit of the Grace Project. A budget allocation is outlined below, representing a
    scenario where our funding goal is achieved and the entirety of the 80% of minted
    GRCE tokens are distributed.

    20% Operations
    Dedicated to the day to day
    operations of the project, such as
    recruiting developer talents and
    community managers. Also
    serves as general project
    runway.

    15% Legal
    Compliance is crucial to the long
    term success of Grace. The
    budget allocated to legal costs
    ensure funds raised through the
    Grace platform will be available
    to our users in every market we
    serve.

    15% Security
    The foundation of Grace usage rests upon the security of the Grace platform. We
    plan for security audits on our proprietary technologies to ensure they are up to the
    highest standard.

    10% Marketing
    The more the Grace platform is recognized by the public, the more donors,
    advocates and campaign creators it will attract. Marketing efforts are crucial to
    expanding our network and taking us closer to disrupting the incumbent industry.

    10% Network Expansion
    Continual onboarding of recognized charities. This part of budget mainly goes into
    due diligence and verification processes related to partnering with recognized
    nonprofit organizations.
    30% Research & Development

    Development of Grace platform. A large part of this budget is used to continue
    improving the user experience of Grace client itself, as well as implementing new
    features along with improvements to the network.

    Roadmap:

    Links:

    Website:https://www.gracetoken.org/

    Blog:https://medium.com/@GraceOrg

    Team:https://www.gracetoken.org/our...

    Twitter:https://twitter.com/Grace_Toke...

    Facebook:https://www.facebook.com/Grace...

    Slack:http://gracetoken.herokuapp.co...

    Github:https://github.com/GraceToken/...



  • Official GRACE Token Sale Bounty Campaign

    BitcoinTalk announcement post: Grace — Donations Platform for Maximal Social Good

    Community involvement is the foundation of Grace platform. We believe a wide adoption of Grace is essential to the effective functioning of the network, which in turn can serve as a platform to revolutionize charity fundraising.

    Our goal is to make Grace an essential player in the world of charitable giving and nonprofits, by allowing charities of all sizes to leverage our network in their fundraising processes — such that even the many otherwise neglected but worthy causes can finally receive the exposure and donations they need.

    By participating in a bounty campaign, you can become a part of the Grace project. Early adopters can get involved by participating in any, or all, of the bounty campaigns outlined in the following sections. We have set aside 2,400,000 GRCEs (2% of total supply) for various bounties, which would be distributed to the supporters after the token sale.

    Here’s another reason to participate in the bounty campaigns: Even if you have no plan to keep your GRCE coins or utilize the network, you can always donate them to charity campaigns on Grace!

    Resources and Assets

    Bounty Campaign

    How It Works

    Each of the following campaigns is allocated a fixed number of GRCE tokens. For each of the specified actions, participants receive “stakes” which are points used to calculate the final amount of GRCE rewarded.

    The reward amount is calculated by multiplying the total GRCE amount allocated to the campaign, by the proportion of the participant’s stakes to the total stakes in the campaign.

    Consider the following example. A participant, Alice, accumulates 100 stakes in the Facebook bounty campaign by liking, commenting and sharing. If the total stakes by all participants in the Facebook campaign at the end of the token sale is 10,000 stakes, Alice receives 600,000 * 100 / (10,000) = 6,000 GRCE for her contribution in the Facebook campaign.

    Any individual can participate in multiple campaigns at the same time, provided that they meet the campaign-specific requirements.

    1. Forum Bounty: Reddit, BitcoinTalk — 20>#/h4###

    Reddit

    Apply here for Reddit: https://goo.gl/forms/VSZ2WYEnsGelaqKV2

    Post or comment on Reddit about Grace to earn rewards. Upvotes on official Grace content is appreciated, but are not counted because it is too challenging to keep track.

    Rewards

    Rewards are for upvotes received on content you generate on Reddit (i.e. post or comment). For every 1 upvote, 1 stake point is awarded.

    Requirements

    • Your account should be at least 20 days old and have 10 posts or comment karma.
    • Please keep track of the links for the posts and comments so we may calculate the rewards fairly.

    BitcoinTalk — Signatures and Avatar

    Apply here for BitcoinTalk: https://goo.gl/forms/BamTYfU3c0hHUfP13

    Signature Code: https://goo.gl/Jc3qok

    Avatar Image: https://s3.us-east-2.amazonaws.com/gracetoken.org/grace-avatar.png

    Help us spread the word about Grace on BitcoinTalk and you will receive a stake every week! Simply add the signatures provided below to your BitcoinTalk profile.

    Rewards

    • Signature for Member and Jr. Member. 30 stakes per week.
    • Signature for Full member. 50 stakes per week.
    • Signature for Sr. Member, Hero or Legendary. 80 stakes per week.
    • Avatar for all members: 30 stakes per week.

    Requirements

    • You need to make at least 5 posts a week in order for bounties to count.
    • Spammers will be banned from the entire bounty program and will not receive any GRCE for the points they may have accumulated prior to the violation.

    To ensure fairness, we manually and randomly check on the registered BitcoinTalk accounts for their signatures every week.

    2. Translation and Forum Moderation — 15>#/h4###

    If our BitcoinTalk OP hasn’t been translated into your language yet, you are welcome to contribute with your own translation and earn some GRCE tokens in return. Please contact us on BitcoinTalk or admin@gracetoken.org to confirm and reserve your translation. There will be additional stakes for each post you get in the thread of your translation.

    Rewards

    • Translation: 100 stakes
    • Moderation: 5 stakes per post in your thread

    By submitting your own translation you also get an invitation to our moderator’s internal Slack group, where we will help you answer any question for your local community.

    3. Blog Posts/ Reddit Posts/ Videos — 15>#/h4###

    APPLY HERE: https://goo.gl/forms/uPvR4hV6FVvrbLls1

    We’ll distribute 360,000 GRCE tokens for blog posts. Blog posts can be published anywhere on the internet and publicly accessible, and can be written in any language. YouTube video contents are included in this section.

    Rewards

    All the blog posts/videos provided will be divided into three quality categories in order to reward those participants who invested the most effort into their blogs:

    • Basic = 10 stakes
    • Medium = 30 stakes
    • Extraordinary = 60 stakes

    Requirements

    • Length of 1000 characters or more without spaces (for blogs)
    • Contain at least 2 links to https://www.gracetoken.org (for blogs)
    • Have unique content

    4. Facebook — 25>#/h4###

    APPLY HERE: https://goo.gl/forms/vegU48jxsJVXVil63

    On the official Grace Facebook page, we will be posting blogs, news articles, and updates about Grace. Every like counts, so be sure to join in to get your share of our Facebook bounty.

    Rewards

    • Every post (text / image / video, link) like: 5 stakes
    • Comment (at least 30 characters per comment): 15 stakes
    • Public share of any post: 40 stakes (this must be the “share now” or “share to friends” function)

    Requirements

    • For your stakes to be valid, you must be subscribed to our Facebook page.
    • All shares must be public. Any invalid share (e.g. “private”, “single person”) will cause the participant to be flagged and the participant will not receive any bounty rewards.

    This bounty program will close when either the Grace token launch has ended or the maximum amount has been reached.

    5. Twitter — 25>#/h4###

    APPLY HERE: https://goo.gl/forms/q8jfSkaDZluYxMU02

    Never miss any of our updates! Follow us on Twitter for our latest insights and retweet our news to your group, friends and followers.

    Rewards

    • Follow us on Twitter: 20 stakes per week
    • For every retweet or mention, you will get:
    • 10 stakes for between 100 and 300 followers on your Twitter account
    • 30 stakes for between 301 and 999 followers on your Twitter account
    • 50 stakes for 1,000 or more followers on your Twitter account

    Requirements

    • Your most recent Twitter Audit must be above 60%.
    • The majority of your tweets’ engagement should be crypto-oriented.

    Bounty Distribution

    Participants in the bounty campaign earn stakes by carrying out each of the aforementioned actions. The number of GRCE tokens allocated to each category will be proportionally distributed among everyone participating in the bounties in that category, according to the stakes earned by the participant.

    The total bounty pool to be distributed is 2,400,000 GRCE tokens. Neither the min/max sales target nor the amount in ETH raised from the crowdsale impact the bounty pool — the 2.4 million figure is fixed.

    Following the crowdsale, all stakes data will be calculated, whereupon the winners and bounties will be officially announced. Participants will be asked to send their ETH wallet addresses (https://www.myetherwallet.com/) to admin@gracetoken.org to claim their bounty.



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