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Reasonable Questions
Questions from our community that we are happy to answer

How will you determine eligibility for student applicants?

One of the judges for the first round of the hackathon asked us this question.
At the time, we answered by stating that a student application first goes to a review process by the DAO. For starters, this eligibility could be privately sharing us a scan of a student ID, a letter of acceptance, or some way to verify student debt. We concluded by stating that we don't have all the answers and would rely on our DAO (our community stakeholders) to help ensure that we're being fair and transparent. We would improve the process over time, learning from what worked. We have designed PennyDAO's smart contracts to only fund the PennyDAO Community Fund. This means our CHANGE-makers, the DAO, would determine every penny. This accountability would involve our community to be a part of this conversation in a real way.
On further reflection, we thought about why we started PennyDAO in the first place: to level the playing field for those who seek to achieve a higher education. It turns out, access to get student loans is not an equitable process. There are a number of automatic disqualifications built in to the process, especially for federal student aid. We believe our community should review these in a forum, and see how they might prevent students from the opportunity to get student debt. We look forward to that conversation.

Second question.

One of the judges for the first round of the hackathon asked us this question.
Answer.
Since we only had a short amount of time, we want to add that while whales (large donors) would help us increase our impact significantly, we also believe that PennyDAO is where every penny counts! ♥️
We have created a POAP badge for our first 1,000 CHANGE-makers. Regardless of amount of contribution, our first 1,000 CHANGE-makers will receive permanent recognition of their participation. An army of supporters is more desirable because it helps create social proof. It shows the world that Proof of Impact that's verifiable and permanent, matters.
Here's a look at the POAP badge and thank you to the POAP founders for being so responsive to helping us provide this badge to our community.
POAP badge awarded to first 1,000 CHANGE-makers
Last modified 5mo ago