Endaoment Receives First 7-Figure Donation from SushiSwap Core Developer

By AIT News Desk On Apr 28, 2021

World’s first Ethereum-based 501(c)(3) to assist SushiSwap in donating to 17 varying nonprofit organizations

Endaoment, the first-of-its-class public charity that provides Donor-Advised Funds atop the Ethereum blockchain, has announced the donation of a $1 million USD gift from the core contributors to SushiSwap, notably including 0xMaki. The gift, equivalent to 55,100 $SUSHI at the time of donation, was liquidated using SushiSwap and is the first 7-figure gift on Endaoment, in turn, making it the first $1 million gift on crypto’s only on-chain 501(c)(3).

A Donor-Advised Fund (DAF) is a charitable financial account owned by a nonprofit public charity in which donors give assets to the DAF provider as a tax-deductible donation. Donors can then make grant recommendations, advising their DAF, in this case, Endaoment, on where they’d like its holdings committed. The SushiSwap core developers identified 17 organizations, centered on 6 general cause areas to receive grant awards. These cause areas include global hunger, Autism awareness, environmental and climate impact, cancer research, gorilla sanctuary development, and diversity in blockchain.

“This donation from 0xMaki and the SushiSwap developer team is not only historic for Endaoment, but also for the greater crypto and blockchain nonprofit community,” said Endaoment President and CEO, Robbie Heeger. “This gift is a testament to the technology behind Endaoment and so many other nonprofits seeking to bridge the gap between crypto and fiat donations. The sheer size of this donation also exemplifies the sophistication and effectiveness of Endaoment’s infrastructure, team, and community.”

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As the first public charity in the crypto space, Endaoment can uniquely power Ethereum-based donations to nearly any nonprofit organization within the United States. The team at Endaoment has been able to provide more than 1.5 million organizations with the infrastructure to process a wide range of cryptocurrency donations into USD, inclusive of the organizations SushiSwap’s donation will be allocated to: Bread for the World, Feed the Children, Aid for Starving Children, No Kid Hungry, WhyHunger, Save the Children, Asperger/Autism Network, Organization For Autism Research Inc, Jane Goodall Institute for Wildlife Research Education & Conservation, The Dian Fossey Gorilla Fund International, Carbonfund, Environmental Defence Fund, Electronic Frontier Foundation, She256, Cancer Research Institute, and Children’s Cancer Research Fund.

Endaoment also announced it will work in tandem with SushiSwap to open up the SushiSwap Community Fund, enabling $SUSHI token holders to make donations that will be delivered to nonprofits determined by the SushiSwap community. Furthermore, SushiSwap has allocated a portion of their gift to Endaoment in order to assist in the advancement of DeFi-native philanthropic vehicles that let users suggest grants in USD to nearly any charity in the country.

“This donor advised fund will be the best place for $SUSHI holders that want to give back while having a meaningful net-positive impact on the world,” said 0xMaki, a contributor to SushiSwap. “Over the past 6 months, we’ve been fortunate to accomplish a lot and intend to keep SushiSwap moving forward. Our success wouldn’t have been possible without this whole community. We’re excited to partner with Endaoment to bring SushiSwap’s liquidity and impact to their mission.”