POLYGLOT: Next Generation Fundraising and Wealth Creation.
The excitement around the tokenomics was obvious. However; the most asked questions are “What was my vision of Polyglot? What is its purpose?”
I want PGL to be a new fundraising mechanism combining charitable contributions with exposure to Crypto on Polygon. The success of PGL and this community will validify our vision leading to our tokenomics being onboarded to the world. Moreover if you have an honest cause, in the future you will be fundraising and donating it based on our vision here at Polyglot.
Imagine the minting phase as a big fundraising auction where the community starts to add funds to the charity wallet and basically decides with sales when the raising should stop and therefore move on to the next one cause. The Burning phase will act as a balancer on the total supply bringing an upward pressure on the price, rewarding long term holders and in the meanwhile preparing the market for the next Minting (or Donation) phase.
During the minting phase as you all should know by now for each buy a 10% tax is sent to a treasury wallet that will become basically a community/charity wallet and in fact the core of our ecosystem. Each minting phase will have a different charity purpose with donations all over the world and to a wide range of different good causes. The community will be asked to cast a vote to decide the percentage of the fund raised during the minting phase to be donated which will be at least 50% of it!!
Assuming we’re back to the minting phase and the community has decided to donate 60% of the fees accumulated, Alice wants to contribute to our first cause (check out our calendar down below) and she buys 1000$ of PGL, 100$ will go to the treasury of which 60$ will be donated and the remaining 40$ will be used for activities related to PGL development.
We will stick to the following calendar:
Minting phase 0
Donations will go to https://theoceancleanup.com/ The Ocean Cleanup is a non-profit organization developing advanced technologies to rid the oceans of plastic.
Minting phase 1
Donations will go to https://trees.org/ Trees for the future. When you plant trees with farmers, you aren’t just helping the planet and future generations, you’re immediately impacting the lives of families in need.
Minting phase 2
From here the community will step up, you will be given different choices or as said before you will be allowed to propose a new cause deciding together where to give our help.
Between the first chats I had with community members and now; PLG went 10x to fall back into price discovery mode after a dump. Our smart contract held strong during these market extremes. New faces have arrived and I’m really proud of the community that is building behind this. We put our money where our mouth is. More great things are coming out soon, as the POLYGLOT community drives this forward.