impactMarket is an open, free, borderless, censorship-resistant, and transparent crowdfinance infrastructure to fight poverty. It operates on top of Celo protocol, uses cUSD (Celo Dollar) as the main underlying digital currency, and runs autonomously through smart contracts.

Beyond UBI, impactMarket is working on providing free access to more financial services. Given the Celo network design and its current DeFi ecosystem, impactMarket is uniquely positioned to drive DeFi adoption and retention by integrating & offering DeFi solutions directly on mobile to those who need them the most. Hence, impactMarket will emphasize but will not be limited to:

Deposit assets and redirect the earned interest (or yield) to support vulnerable communities while claiming $PACT rewards. No donation? No problem.Micro Credit: Beneficiaries will be able to use their own $PACT or $CELO as collateral for instant access to credit in cUSD.Virtual Fair, where beneficiaries can sell and buy stuff (or content as NFT) among their communities, like community-based e-commerce marketplaces.Collective Savings + prize, incentivizing beneficiaries to save together within their own communities. The higher the savings, the higher the prizes.Crowd Lending where anyone can allocate assets as collateral and delegate credit in $cUSD to specific beneficiaries, causes, or communities.Explore other possibilities, such as beneficiaries’ stories & art as NFTs (could be used as collateral, or to help raise funds for their community), access to yield farming, learn & earn, paid tasks and more.

In order for impactMarket to monitor and provide transparency and analytics about its impact on its stakeholders, the team is developing an impact measurement framework, made available via different aggregated sources, including on-chain data analysis performed on the Celo network.

Self-reporting from beneficiaries through regular specific surveys that measure life quality improvement and progress on several verticals of their life, including health, education, impact on their children, security, happiness, nutrition, etc.Identify merchants, key intermediaries, and influencers. Attach content to transactions.On-chain data analysis to understand, on a deeper level, economic development, activity, growth, and behavior. Cross public information and benchmark different approaches.Predictive analytics to forecast potential outcomes when kickstarting new communities.

$PACT tokens will act as a global medium of governance that empowers participants through decision-making and comprehensive incentive mechanisms. Token holders will be granted the ability to influence the future health, direction, growth, and impact of the protocol.

Voting power delegation any token holder can delegate voting power to themselves, someone they trust, or key participants of the protocol. Those with the most delegated voting power can be considered impactMarket ambassadors.Communities’ verification and validation Each new UBI community will be submitted as a proposal and reviewed by token holders, who can vote for its approval. Verified communities are able to request funding directly from the DAO.Manage/Update key parameters, calculation formulas, treasury allocation, and incentives Deposited assets on the DAO as treasury can be used to automatically earn interest/yield and to buy back $PACT into the DAO reserve, on a regular basis.

About 40% of total supply will be available to be claimed by participants through impact farming, an incentive mechanism that allows anyone to claim $PACT tokens as rewards for their cUSD contributions/donations to vulnerable communities.