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Shutter DAO 0x36 swaps $300,000 into Glo Dollars
Following a DAO community vote, Shutter DAO 0x36, an integral part of Shutter Network, swaps $300,000 USDC into Glo Dollars (USDGLO) to fund Web3 public goods for free.
June 27, 2024
Articles
Shutter DAO 0x36 & Glo Dollar
Shutter DAO 0x36 swaps $300,000 into Glo Dollars
Following a DAO community vote, Shutter DAO 0x36, an integral part of Shutter Network, swaps $300,000 USDC into Glo Dollars (USDGLO) to fund Web3 public goods for free.
June 27, 2024
Shutter DAO 0x36's contribution to public goods funding: a potential $12,000 annual boost
Shutter DAO 0x36 took a big step in supporting public goods by converting $300,000 USDC into Glo Dollars (USDGLO). The move will generate up to $12,000 annually for public goods funding, benefiting the broader Web3 community.
These funds will support Web3 public goods initiatives such as Giveth, Gitcoin, and Protocol Guild.
The $300,000 swap was initiated following community votes
The swap originated from an idea posted on Shutter DAO 0x36's community forum, followed by a proposal on the same forum. It was then put to an official vote on Decent, with nearly half of the community voting 'Yes', 12.38% voting 'No', and 37.89% abstaining from voting.
Shutter DAO 0x36 holds the Glo Dollar (USDGLO) funds in a smart account by Safe.
Shutter Network: a Web3 public good now funding Web3 public goods
Shutter is free, open-source software designed to protect the crypto community from blockchain manipulation. It uses threshold encryption to ensure fairness, transparency, and accessibility in trading, voting, and gaming.
As a Web3 public good, it now supports other Web3 public goods with its operating capital. Shutter DAO 0x36 plans to use the USDGLO to pay out grants to core contributors and community members, introducing Glo Dollars to a larger community.
Shutter DAO 0x36 is leading the way in donationless philanthropy, bringing us a step closer to unlock billions in free public goods funding.
Join Shutter and 40+ other organizations to help us unlock $7.4 billion in public goods funding
We're building the world's largest philanthropic funding mechanism.
With Glo Dollars, you fund public goods and charitable causes for free. We call it Automatic Public Goods Funding (AutoPGF). If you hold Glo Dollars, it also helps us showcase our AutoPGF model to other organizations, fueling a flywheel of increased Glo Dollar adoption.
Let's talk if you want join the Glo Consortium and help us unlock $7.4 billion in annual public goods funding.
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In this program, GiveDirectly identifies impoverished African villages to give their citizens $30 per month, transferred via mobile money technology, for 3-5 years. For people living on less than $2/day this is a transformational amount.
Glo's economic model is to invest its reserve in short-term Treasury bills and give the proceeds away entirely to GiveDirectly.
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Shutter DAO 0x36's contribution to public goods funding: a potential $12,000 annual boost
Shutter DAO 0x36 took a big step in supporting public goods by converting $300,000 USDC into Glo Dollars (USDGLO). The move will generate up to $12,000 annually for public goods funding, benefiting the broader Web3 community.
These funds will support Web3 public goods initiatives such as Giveth, Gitcoin, and Protocol Guild.
The $300,000 swap was initiated following community votes
The swap originated from an idea posted on Shutter DAO 0x36's community forum, followed by a proposal on the same forum. It was then put to an official vote on Decent, with nearly half of the community voting 'Yes', 12.38% voting 'No', and 37.89% abstaining from voting.
Shutter DAO 0x36 holds the Glo Dollar (USDGLO) funds in a smart account by Safe.
Shutter Network: a Web3 public good now funding Web3 public goods
Shutter is free, open-source software designed to protect the crypto community from blockchain manipulation. It uses threshold encryption to ensure fairness, transparency, and accessibility in trading, voting, and gaming.
As a Web3 public good, it now supports other Web3 public goods with its operating capital. Shutter DAO 0x36 plans to use the USDGLO to pay out grants to core contributors and community members, introducing Glo Dollars to a larger community.
Shutter DAO 0x36 is leading the way in donationless philanthropy, bringing us a step closer to unlock billions in free public goods funding.
Join Shutter and 40+ other organizations to help us unlock $7.4 billion in public goods funding
We're building the world's largest philanthropic funding mechanism.
With Glo Dollars, you fund public goods and charitable causes for free. We call it Automatic Public Goods Funding (AutoPGF). If you hold Glo Dollars, it also helps us showcase our AutoPGF model to other organizations, fueling a flywheel of increased Glo Dollar adoption.
Let's talk if you want join the Glo Consortium and help us unlock $7.4 billion in annual public goods funding.
Alexander Drummond
Director of Partnerships
Deborah Lightfoot
Head of Finance & Reserves
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Garm Lucassen
Co-founder & CTO
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Jeffrey Milewski
Co-founder & CEO
Jasper Driessens
Co-founder & Head of marketing
Bram Voets
Growth
Alexander Drummond
Director of Partnerships
Deborah Lightfoot
Head of Finance & Reserves
Garm Lucassen
Co-founder & CTO
Jeffrey Milewski
Co-founder & CEO
Jasper Driessens
Co-founder & Head of marketing
Bram Voets
Growth
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