How it Works


PennyDAO is a marketplace for impact NFTs that reduce student debt with Ethereum. Where our community collects stories of personal impact they make with CHANGE.

It is a platform built on the Ethereum blockchain where our community leverages its resources to tackle student loan debt, one story at a time.
CHANGE-makers bond some amount of principal capital (currently $DAI) for our platform-participation token, $CHANGE. Principal capital earns interest in decentralized finance strategies which is diverted to a community fund. $CHANGE is minted at a ratio of 1 $DAI to 100 $CHANGE; a non-transferable token used to redeem upon expiration of the bonding period. PennyDAO does not collect fees.
Students create a profile story asking our community for support. Students are encouraged to create a short personal appeal video, upload a profile photo, attach links to their social media accounts, and share some information about their education. PennyDAO determines eligibility and if approved, puts it up for a vote by the community.
CHANGE-makers vote on each story in proportion to their contribution. And when it's approved, funds are distributed from the community fund to the student's Ethereum-enabled wallet, or to an Ethereum address on an exchange, like Gemini or Coinbase.
Last modified 5mo ago
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