DEP DONATION #2
Orange Cat Fund
Orange Cat Team hopes that every stray kittie in the world can have a cozy space. We are fully aware that traditional charity organizations have many unsolvable problems such as corruption and opaque funding. Therefore, we are dedicated to creating an innovative, transparent, and democratic blockchain-based charity foundation, so that people’s love and kindness can be truly sent to the organizations in need through such a transparent blockchain platform.
Orange Cat Fund: 100,000,000,000,000 OCAT coin will be used to create a transparent, non-corrupt, and autonomous blockchain-based animal welfare foundation.
The 100 trillion OCAT will be invested in the smart contract pool when the Orange Cat Fund is created. No one can withdraw any fund for private use, not even the project team. Based on the contract, the charity fund collected this month will be transferred to the wallet address of the fund community leader.
The monthly fund will be in the form of OCAT tokens, which will be sold through swap, exchanges, or auctions. The fiat money exchanged will be directly donated to charity organizations.
In addition to the fixed amount of charity funds each month, the Orange Cat Fund community has full control of distribution. The community will initiate a democratic voting process to determine the destination of the fund. The voting rights of the community are completely equally assigned to everyone, and the weight of votes will not be calculated based on the amount of holding interest.
On May 28th, the 1st phase of our charity fund, 100 billion OCAT, will be released. Every month after, we will release 60 billion OCAT to the pool, in addition to the amount equivalent to what was released the month before. The plan lasts for 5 years.100 trillion coins will be donated to animal protection charity organizations in a democratic way after 60 months.
Orange Cat Fund - White Paper
I don’t understand the content of the charity fund whitepaper. Can you describe it to me in a concise way?
The operating principle of the Orange Cat Fund is as follows. Every month, the foundation will release a certain amount of OCAT tokens, which will be converted into fiat currency through auctions and other methods, and donated to animal protection organizations. As for which animal protection organization to donate to, it is decided by the votes of the community democratically.
What are the advantages of your foundation compared to the traditional foundation?
First, it is completely transparent. The blockchain is an open ledger jointly maintained and supervised by all nodes in the world. All transactions of the foundation can be traced. It allows no opportunity for corruption by the internal personnel of the foundation or the project team. Second, the foundation is completely democratic. Blockchain-based voting allows the community to jointly decide where the money is going to.
Will you really follow this plan? If you withdraw these 100 trillion coins, the interests of our common holders cannot be guaranteed at all.
A blockchain contract is a fixed commitment. Once it is released, it cannot be changed. After the foundation project is officially launched, we will release the specific content of the contract via blockchain browser as soon as possible. You can ask blockchain engineers to detect the loopholes in this smart contract. Has the project team withdrawn any of the funds? Has the amount released per month following the contract? Everyone can verify.
Will the foundation's plan jeopardize the interests of common OCAT holders?
We believe that all OCAT holders love the idea of protecting animals. We have carefully considered this issue. If a large-scale OCAT sell-off happens in the early stage, it will cause a significant decline of the market. Therefore, we chose a relatively stable start-up method: 100 billion OCAT in the first month, 160 billion in the second month, 220 billion in the third month, and it increases every month, until reaching the goal of 100 trillion in 5 years and 60 months. In this way, the interests of the project and its owners can be protected in the early stages of the project.