The Success Kid (SKIDDO) vision.
The decentralised ﬁnance (DeFi) sector has been revolutionary. DeFi makes ﬁnancial inclusion a reality, giving those unbanked, ownership of their ﬁnances – anyplace and anytime. Despite the eﬀorts of decreasing income inequality we are still left with hundreds of millions surviving on pennies a day.
The human costs of unrestrained inequality are devastating to children. According to World Bank data, close to 400 million children live under extremely poor conditions. High poverty levels are a life- threatening challenge, as per a report by the US census bureau.
Most people and organisations working towards stemming the tide of poverty are face with the challenge of changing operational costs which signiﬁcantly reduce a donations’ eﬃcacy. As an extreme example, the US-based Kids Wish Network would raise millions of dollars for sick and dying children but only spend 3 cents per dollar on these kids.
Blockchain technology can help change this narrative and channel donations to the right recipient. Blockchain records are immutable and secure. They are transparent, traceable and can assist in eliminating fraud in charity.
Blockchain technology can also do much more than supervise the distribution of donations. DeFi projects such as SKIDDO are seeking to include an eﬀective component to their ecosystem through sustainable and eﬃcient giving.
Their focus is to donate their own currency, $SKIDDO, to children while also providing ﬁnancial educational opportunities via the static reward system.
SKIDDO sustainable static reward system.
SKIDDO’s static reward system allows the holder of SKIDDO to earn simply by holding. The blockchain is programmed in a way that every movement in the SKIDDO network charges a small transaction fee that is distributed to all SKIDDO holders – like the blockchain’s version of a dividend.
The founders own less than six percent of the total $SKIDDO in circulation, and all in and outgoing transactions are public for anyone to view on bscscan.com.
$SKIDDO can only be purchased through the Binance Smart Chain (BSC) hosted application Pancakeswap v1 and is currently navigating the restrictions placed on low market cap coins. If they can achieve their investment goals of 500 $BNB, SKIDDO can migrate and be positioned to climb the list of BSC hosted cryptocurrency projects.
SKIDDO’s main goal is not charity, but rather to innovate and create new features using blockchain technology. However, as SKIDDO’s charity pool grows they are positioned to challenge the current methods of charitable giving as well – and with the decentralised nature of blockchain they hope to make that a reality.