Inspired by the values of Ethereum and a Desire to Make Measurable Change
"Let's Scale Ethereum with a Story"
PennyDAO was started by five folks that first met at the “Scaling Ethereum” hackathon hosted by ETHGlobal.co.
The team rallied around the idea of building a platform to tackle student debt; an issue each teammate related to and felt could connect with a broad group of people in the United States.
Their intentions of joining the event was to win, and also to learn from one another and have a lot of fun doing it. What drew the team together was a bit of luck and the shared values of Ethereum and its potential to solve a real-world problem that is immediately present in and outside of the cryptocurrency community.
Two words: College debt. They agreed that this problem is worthy of tackling because it's preventing people from going to school, burdening folks in school to work overtime, and as graduates, stands in the way of realizing financial freedom. The problem was a lived experience, well-documented and no clear sustainable solution exists or are widely adopted. There's no real way for parents to save for their children. Or for other relatives to chip in.
The team aligned to spend the next three weeks working together to develop a proof-of-concept solution. They would focus 100 percent effort on clearly defining the problem and developing a simple Ethereum-based solution to do it.
DeFi + NFT = Learning.
By winning the hackathon, it could be a big enough story to change the face of cryptocurrency from the dark web and doge memes, to college graduates realizing financial freedom with the kindness of the Ethereum community.
The core team is publicly identified and has experience building credible brands and organizations, including: Curve Finance, DeFi Pulse Index, Google, Intel, Accenture, and Better Business Bureau. Visit PennyDAO.com to see the team and their social media profiles.