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Whitepaper
Maxity is a social impact protocol innovating NGO fundraising and strengthening transparency in charities using blockchain technology. With an NFT marketplace, a Volunteer and Reward and a SocialFi mo
Humanity — Charity — Maxity
1 Introduction
2 Background
2.1 Charities and their main challenges
2.2 The United Nations and its Sustainable Development Goals
2.3 Blockchain and cryptocurrency
2.4 Smart contracts
2.5 Decentralised finance (DeFi)
2.6 NFTs
2.7 DAOs
2.8 Metaverse
3 Maxity NFT marketplace platform
3.1 Functionality
3.2 Royalty models
3.3 Maxity DAOs
3.3.1 Charity DAO
3.3.2 Artists DAO
3.3.3 Influencer DAO
3.4 Donor community building
4 Maxity's Web3 social impact protocol: a transparency platform
4.1 A transparency platform
4.2 The social impact protocol
5 Maxity Symbiotic Metaverse
5.1 Functions of the Symbiotic Metaverse
5.1.1 E-commerce
5.1.2 NFTs/Digital assets
5.1.2.1 Avatar NFTs
5.1.2.2 Virtual Lands
5.1.3 CryptoCurrencies
5.1.4 Working & Gaming
5.1.4.1 Charitable Tasks
5.1.4.2 Volunteer and Reward (V&R)
5.1.5 SocialFi
5.1.6 Metaverse Technical Stack
6 MAX Token and Maxity DeFi platform
6.1 Emission schedule and allocation
6.2 Maxity Defi platform
7 Corporate Philosophy
Maxity is a blockchain application dedicated to contributing to the United Nations 17 Sustainable Development Goals. There are 260,000 charities and NGOs worldwide, all devoted to creating a just society. Maxity helps charities and NGOs achieve these aims. The specific aims of charities may vary, according to the nature of work each charity does, but all charities necessarily have certain aims in common:
- Charities and NGOs need to raise funds, so that they can carry out their activities;
- They also need to manage their funds carefully, including producing reports of how the funds are acquired and used;
- They need to plan their charitable activities, and communicate with their donors. This can include getting donor feedback and financial pledges on proposed activities;
- They need to manage and incentivise volunteers, encouraging participation in charitable activities.
Maxity uses Web3 and blockchain technology to help charities and NGOs achieve these aims. Maxity is developing several platforms aimed at charities and NGOs.
The Maxity NFT marketplace is the first dedicated NFT marketplace for charities and NGOs to raise funds. It is being built on the eco-friendly Polygon Chain and will be integrated on to the Ethereum Chain after the merge in November 2022. The marketplace allows organisations with charitable aims to design, develop, market and sell NFTs which represent the work of the charity. Owners of NFTs can resell their NFTs to other collectors, and a percentage determined by the charity of the sale value goes to the charity upon each resale.
- The Maxity NFT marketplace allows charities and NGOs to showcase their work, through thoughtful and beautiful artworks presented as NFTs. Supporters of a charity or an NGO buy and sell these NFTs, or receive them as gifts.
- Buying and selling NFTs helps to build donor communities. By trading with each other, donors can get to know each other and discuss the work of the charity. By talking with their friends about the NFT collections, donors can introduce new people to the work of the charity.
- Instead of minting one NFT at a time, Maxity enables charities and NGOs to bulk list NFTs to avoid lengthy and expensive processes of single minting. This is especially useful for minting for example NFT collectibles, event tickets and DAO entry tickets.
- A fun way to sell NFTs is through auctions. An auction starts with the seller setting the opening bid for the NFTs and the NFTs will be sold to the higher bidder. If the auction price falls below the opening price, the seller reserves the right to reject the transaction.
- Determined to lower the barrier of the blockchain world, Maxity has integrated fiat payment systems in which donors who do not hold a cryptocurrency wallet can purchase NFTs through their preferred methods (Debit/Credit Card or PayPal). The NFTs will be held by Maxity and can be claimed at any time, once users have installed a crypto wallet.
- Maxity’s platform helps charities and NGOs raise their profile and raises public awareness. Donors of one charity can discover NFTs from other charities, and become acquainted with their work.
The Maxity transparency platform allows charities and NGOs to register their core activities on the blockchain — this can include the construction of buildings and other resources, or grants made to beneficiaries. Blockchain transactions can link incoming donations with outgoing payments for projects. By registering all activities such as fundraising, fund management, expenditure, financial reports, and charitable activities on the blockchain, charities can achieve greater financial transparency, and build greater trust in their donor communities. This not only gives donors the confidence to give more, it attracts new users into the world of philanthropy.
The Maxity DeFi platform will allow charities on the Maxity platform and their donors to manage and invest funds. By staking cryptocurrencies (including ETH, Matic, stable coins or Maxity’s MAX token), charities and donors can earn higher interest compared to traditional financial institutions or instruments, by availing themselves to Maxity’s yield-farming techniques.
The Maxity symbiotic metaverse will allow all charities, NGOs and social enterprises to further accelerate the goal of a sustainable environment and society in a virtual world. Beneficial proposals such as charitable Dao establishment, public welfare campaigns, fundraising activities, volunteer events, sharing exhibitions, allowing all to participate in social practices, living symbiotically in the metaverse.
DAOs, decentralised autonomous organisations, are decentralised entities developed through Web3 and blockchain technologies. No single party controls any aspect of these technologies. Rather, they are designed with democracy at their core.
Maxity has adopted these principles at the core of its design too. Firstly, the MAX token allows anyone to participate in Maxity’s governance and its success. Ownership of the MAX token confers voting rights, and as Maxity becomes successful the value of the token will rise.
Maxity has recruited 40 ambassadors globally[1]; they are individuals integrated in the not-for-profit sector of their region, who are familiar with fundraising for charities at the grassroots level. Maxity ambassadors assist charities and NGOs in the registration and verification process required to join the Maxity platform. The ambassador helps the charity draft the stories behind their NFT collections.
Maxity has also set up a few decentralised autonomous organisations (DAOs) to control the core aspects of its operations, namely Charity DAO, Artists DAO and influencer DAO, working in tandem to give all the charities on the Maxity platform visibility. These are described in detail in this white paper. As the Maxity platform develops, it is expected that more DAOs will be created.
[1] Maxity ambassadors. https://maxity.io/ambassadors
Americans gave US $485 Billion to charity in 2021[1], representing a 4% increase from 2020. This figure represents voluntary donations from individuals (not aid given by governments). Charity donations are an enormous business sector.
But surveys often show that donors are not satisfied by the process, and there are many reasons why people do not donate more than they already do:
- Donors may feel a lack of connection between their donation and the benefit that it may bring.
- Charity activities are often opaque, and could communicate their activities to donors in a better way.
- Donors may not trust that their donations actually reach beneficiaries (as opposed to overhead costs, advertising campaigns, and other charity costs).
- Uncountable news about scandalous and corruptive charities (charities using money for personal uses or money laundering, or aid workers committing crimes such as sexual violence against the vulnerable people they serve)
- Charities charge high service and management fees for fundraising platforms and charities
Charities can find it difficult to engage donors, and demonstrate to them the real benefits that result from the work of the charity. They need more and better tools to build donor communities, and demonstrate transparency of their finances. They may need help with fund management and investment. They need tools to showcase their work, and they need ways to incentivise donors to give more. Finally, they need ways to manage volunteers and incentivise volunteers to participate in broader aspects of the charity’s work.
[1] https://www.nptrust.org/philanthropic-resources/charitable-giving-statistics/
The 16, now 17, Sustainable Development Goals[1] set out by the United Nations General Assembly in 2015 are a call to world leaders to act now ensuring everyone around the globe enjoys peace and prosperity by 2030. The goals are targeted at prioritising those who are furthest behind, specifically ending poverty, hunger, AIDS and discrimination against women and girls. The goals include ensuring every person’s access to water, health, education, clean energy, economic growth and justice. Governments are expected to target investment in innovation, sustainability and climate action, as well as have a particular focus on animal welfare and biodiversity.
The Global Goals are a commitment made by governments but the practical realisation of these goals on the ground is carried out by grassroots organisations. Whilst several tools track the implementation of the Global Goals, the Sustainable Development Goals Report 2022 states that the world is unlikely to achieve the Global Goals by 2030. In order to reach the goals, grassroots organisations require funding, particularly in the wake of the COVID19 pandemic, and greater transparency is needed in the development sector. Maxity provides a solution to this. As a platform using technology to direct funding at organisations least funded, and increasing transparency in the charity sector overall, Maxity is a critical partner in ensuring the Sustainable Development Goals are achieved. In addition, Maxity makes a strong contribution to monitoring progress of SDG implementation, making data of the furthest left behind more available and easily understood. Maxity’s 90 charities across South and North America, Europe, Africa and Asia are contributing towards all of the 17 Sustainable Development Goals.
[1] Also known as Sustainable Development Goals
A blockchain is a sequence of “blocks”, each one consisting of a set of transactions that have taken place. The blocks are cryptographically bound together, so that any change to any of the transactions will invalidate the block and the entire chain. The blockchain is maintained by a decentralised set of individuals, often called “miners” because they are rewarded for their efforts by the creation of tokens (similarly to how gold miners are rewarded by the discovery of gold nuggets). The most famous blockchain is the Bitcoin blockchain; it is “permissionless” in the sense that anyone can be a miner, but the cryptographic binding that is core to blockchain integrity requires a large amount of computational work to be done if one wants to mine successfully. Blockchains are decentralised; no person or organisation has control of them, but a large number of individuals contribute to their maintenance by participating in the verification and formation of new blocks of transactions.
Blockchains can be used to make new currencies, called cryptocurrencies. As mentioned, the foremost one is Bitcoin, but there are hundreds of others. Cryptocurrencies work as currencies because they have a purposefully limited supply; for example, the supply of Bitcoin will never exceed 21 million coins. There are about 19 million coins in circulation, and new ones are mined every day, but the rate of mining is decreasing so that the limit of 21 million will never be exceeded.
As well as the ownership of currencies, blockchains can be used to record ownership of other kinds of assets, such as artworks, certificates, and tickets. Whereas currencies are fungible (one dollar is equivalent and exchangeable with any other dollar), other kinds of assets are not fungible (one artwork is not generally equivalent or exchangeable with another one), giving rise to the term non-fungible token (NFT). An NFT is the record on a blockchain that a certain asset belongs to a certain user.
A smart contract is a program that is intended to automatically execute on a blockchain, once certain conditions are met. Once put in place, smart contracts cannot be controlled by anyone; they will simply execute their code. The idea is that they act as a kind of self-enforcing contract between people that may provide inputs to the program, or obtain outputs. For example, a smart contract could be set up so that whenever money is paid into the contract, it can be paid out equally to Alice and Bob (50% each). Once that contract is established on the blockchain, it will be executed every time money is paid in, and no-one can change the way it disburses the money. Of course, this example is a very simple smart contract. More sophisticated examples include Uniswap (which allows users to exchange cryptocurrencies with each other) and NFT marketplaces (which allow users to buy and sell NFTs).
The original idea of smart contracts as immutable has led to some problems, because if a program is complex then inevitably bugs will be found in it. A smart contract that is immutable cannot be fixed once it is launched. Therefore, researchers have developed the idea of "updatable smart contracts".[1]
[1] A contract P (called a proxy) stores the address of another contract I1 (called the implementation). When P is executed, it calls functions of its implementation I1. If I1 is found to have bugs, a new implementation I2 can be launched, and P can be updated to store I2 instead. I1 will continue to exist, but it will no longer be called. If I2 is found to have bugs, it can be replaced (in P) to a new I3, etc.
Decentralised finance (DeFi) is the idea that financial instruments (like investments, currency exchanges, and loans) can be offered without relying on intermediaries such as brokerages, exchanges, or banks. It works by using smart contracts on a blockchain. Well-known examples of DeFi platforms include Uniswap and Aave. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts.
Non-Fungible Tokens (NFTs) are records of ownership of digital assets (such as images, songs, tickets or in-game assets) on a blockchain. The benefit of maintaining ownership records on a blockchain is that the blockchain is not controlled by any individual or organisation, and the record of transactions cannot be altered or erased. Anyone can see the full transaction history behind any artwork. NFTs provide a public certificate of authenticity or proof of ownership.
The term "NFT" only achieved wider usage with the ERC-721 standard, first proposed in 2017 via the Ethereum GitHub, following the launch of various NFT projects that year. The standard coincided with the launch of several NFT projects, including Curio Cards, CryptoPunks, and rare Pepe trading cards. Some NFT collections, including Bored Apes, EtherRocks and CryptoPunks are examples of generative art, where many different images are created by assembling a selection of simple picture components in different combinations.
NFTs can represent in-game assets, such as digital plots of land. Because the NFT blockchain is not controlled by any single party, these assets can be considered controlled by their owners instead of by the game developer. They can be traded on third-party marketplaces without permission from the game developer. CryptoKitties was an early successful blockchain online game in which players adopt and trade virtual cats. The monetisation of NFTs within the game raised a $12.5 million investment, with some kitties selling for over $100,000 each. A similar NFT-based online game, Axie Infinity, was launched in March 2018.
The NFT market grew dramatically from 2020–2021: the trading of NFTs in 2021 increased to more than $17 billion, up by 200x compared to 2020's total of $82 million. Individual NFTs have been sold (and resold) for millions of dollars.
This growth may not be sustainable, but the core technology behind NFTs and their usefulness as public records of ownership is of great value to artists and art collectors alike. While different types of NFTs have different values, the NFTs developed by Maxity have an important role in developing the work of charities and in forming donor communities. Integrating NFTs into future iterations of the Maxity platform will further enhance their intrinsic value, by incorporating them into the Maxity metaverse and charity decision-making processes.
A decentralised autonomous organisation (DAO) is an organisation constructed by rules encoded as a smart contract that is often transparent, controlled by the organisation's members and not influenced by a central authority such as a government or corporation. DAOs are member-owned communities without centralised leadership. A DAO's financial transaction records and rules are maintained on a blockchain.
DAO governance is coordinated using blockchain tokens that grant voting powers. Admission to a DAO is limited to people who have a confirmed ownership of these governance tokens in a cryptocurrency wallet, and membership may be exchanged. Governance is conducted through a series of proposals that members vote on through the blockchain, and the possession of more governance tokens often translates to greater voting power. Contributions from members towards the organisational goals of a DAO can be tracked and internally compensated.
“Metaverse” is the name given to a collection of ideas and proposals for the future evolution of the internet. It will be an immersive virtual world, made possible by virtual reality and augmented reality technologies. Early versions being developed require clunky headsets, but in the future the required hardware will be integrated into the built environment, and people will move in and out of the metaverse as seamlessly as they move between physical conversations and WhatsApp chats today. As we continue to conduct more and more of our lives online through our phones and laptops, the metaverse will magnify and accelerate this process. Internet-of-things technologies will blur the distinction between what is online and what is physical.
Maxity is one of the first dedicated NFT marketplaces for charities to raise funds. The marketplace allows a charity to design, develop, market and sell NFTs which represent the work of the charity. Maxity encourages charities, NGOs and NFT designers to dig deep into the underlying environment and social issues, then recreate them into digital arts (NFTs). The NFTs can be arranged into collections, allowing donors to choose whether to buy one from several different collections, or to try to complete their collection. 98% of the initial sale value of each NFT goes directly to the charity. Owners of NFTs can resell their NFTs on the Maxity marketplace, and a percentage determined by the charity (Royalty fee) of the NFT sales value goes to the charity upon each resale.
Maxity’s marketplace helps connect people to the charitable causes they support. It helps charities understand the potential of NFTs, and work with them to identify NFTs that they can create in order to boost their donor engagement and publicise their mission. These NFTs will replace traditional fundraising badges or ribbons as acknowledgements for donors, which can be further used for personal (profile picture) or business (business logo) use.
NFTs present entirely new ways for organisations to engage with donors. Through Maxity, charities and NGOs are just discovering how they can leverage NFT fundraising to generate new streams of revenue and engagement. Maxity works with charities through each stage of the NFT lifecycle, from ideation to execution, aiming to provide a one-stop shop for showcasing and managing NFT charity projects and a platform for charities to generate revenue through accrual of resales.
Maxity is currently the world's largest market for charity NFTs. With Maxity, users can discover, collect, and sell NFTs linked to a cause that they support, while also giving back to society. NFT charity events for digital art are held to generate funds to be forwarded to the charities. We aim to create a new platform to fundraise towards solving global issues.
Maxity’s NFT marketplace launched in March 2022, and by August 2022 it had 84 charities onboarded. Most of these NGOs have begun to actively sell NFTs. These numbers are expected to increase dramatically as the benefits to charities become more widely known. Maxity is actively training charities (and donors) about the benefits that NFTs can bring. The Maxity NFT marketplace runs on the Polygon blockchain, and is expected to run in parallel on Ethereum after the merge in November (An upgrade shifting Ethereum proof-of-work to proof-of-stake framework). The marketplace consists of some smart contracts and a front-end dApp. It uses the ERC-721 standard for NFTs. NFTs are priced in Matic, which is the currency of the Polygon blockchain.
Maxity’s front-end dApp allows charities to mint NFTs (individually and in bulk), and to list them for sale. A buyer can buy an NFT, in which case it is transferred by the smart contract to the user’s Ethereum address. Once owned by a user, the user can re-list the NFT, possibly at a new price, and another user can buy it. Users can buy and sell NFTs from each other. At the first sale, 98% of the sale price goes to the charity that minted it, with 2% going to Maxity as a service fee. On subsequent sales, a certain percentage (“royalties”) of the transaction amount goes again to the charity, and 2% to Maxity as service fee, with the remainder going to the seller and the NFT designer. The royalty percentage is set by the charity at mint-time, and can be up to 10%. In this way, the charity continues to benefit financially every time the NFT is traded.
Because charity donors may not be familiar with cryptocurrency and Ethereum addresses, Maxity supports payment by fiat currency using bank payment cards too. This is the greatest innovation in the NFT industry. Maxity, one of the few NFT marketplaces to support fiat payments, further lowers the barrier of Web2 users to enter the blockchain and NFT world. A user that doesn’t yet have an Ethereum address can still purchase (or be given) an NFT; if the user doesn’t cite an Ethereum address the NFT is held by smart contracts and servers, the NFT can be claimed by the user at any time in the future when they have downloaded a wallet (such as MetaMask) and established an Ethereum address.
Maxity marketplace supports NFT collections. A collection is a series of similar-looking NFTs that follow a theme. Typically they also have similar titles, differing by a serial number. Users can mint up to 10 NFTs in a single transaction. A collection can consist of any number of NFTs, but a collection of more than 10 will have to be minted in several steps. (The limitation of 10 minted NFTs at a time is to ensure that transaction sizes don’t become unwieldy.)
To increase NFT selling opportunities, the Maxity marketplace has integrated a timed auction function allowing users to bid on NFTs. Auction creates an exciting atmosphere, motivating donors who have been caught up in the competitiveness of bidding, to bring the price of NFTs higher. Sometimes donors wish to collect all the NFTs in an NFT collection, and will spend all dimes to win at all costs. In the end, it is the donors and charities who receive most of the benefits, with one enjoying the pleasure of winnings and one receiving a great amount of donations.
The Maxity NFT platform allows charities to earn “royalties” when its NFTs are sold on the secondary market. At mint time, a royalty percentage is set (from 0 to 10%) by the charity. Then, if a donor owns an NFT minted by the charity and sells it on to an additional donor, the distribution of the amount the additional donor pays is as follows:
- Maxity gets 2% of the amount, as its fee;
- The charity gets the royalty according to the royalty percentage set at mint time;
- The first donor gets the remainder.
The charity may have used an artist supported by artist royalties. If this is the case, then the charity stipulates the artist at mint time. On the primary sale of the NFT, 90% of the sale value goes to the charity, 8% goes to the artist, and 2% to Maxity. On a secondary sale, 20% of the charity royalty part goes to the artist, 80% of the charity royalty part goes to the charity, 2% of the sale goes to Maxity, and the remainder goes to the seller.
These arrangements are summarised in the table below:
Maxity has established decentralised autonomous organisations (DAOs) to expand its core ecosystems.
Charity DAO is made up of charities and Maxity ambassadors. The DAO facilitates NFT fundraising for charities, focusing on raising funds in emergency contexts, such as the sudden onset of natural disasters, war and other situations where humanitarian relief is needed. Charity DAO aims to respond rapidly in such situations, by creating, completing and releasing NFTs for charities within 24 hours. This helps raise funds quickly and effectively to respond to the crisis.
Charity DAO has established the Stop Climate Change NFT collection. This NFT project, which is a limited collection of 100 NFTs, aims to increase awareness of serious climate change issues among top decision makers. Climate change is no longer a future problem, it is a current reality. The artist combines natural climate, disasters, and human imagery through painting and collage techniques to demonstrate the interdependent relationship between humans and their environment.
Charity DAO NFT designers have created an optical illusion NFT collection in support of the women, children, and elderly people of the Ukraine. Ukraine family support is a limited collection of 80 NFTs. Funds from sales of this collection will be distributed to the people affected by the Ukraine crisis.
Freedom for Women is an NFT collection in collaboration with Charity DAO. The decision to withdraw federal support for termination of pregnancy in the United States directly affects half of the American population – women. The data is clear, attempts at ending pregnancy will continue even when there is no safe route to do so. There will only be more women who do not survive unsafe termination. The rich colours in this NFT represent the right to bodily autonomy for all women around the world - the painting depicts a girl stretching her limbs in the air, free and flexible; illustrating that women flourish as human beings when able to make their own decisions.
As well as these NFT series in response to crises, Charity DAO has issued NFT tickets, which provide access to all of Charity DAO's benefits and services. Ticket holders will be eligible for the MAX token rewards according to their contribution; they will also be eligible for the Charity DAO token airdrops, and a certain number of Charity DAO tokens will be allocated according to their contribution. Ticket holders can enter the Maxity Metaverse to claim various charitable tasks, accumulate a certain amount, and have the opportunity to receive Metaverse virtual land rewards.
Charity DAO members have the obligation to promote the Charity NFT project on Charity DAO and Maxity platforms; and to raise funds for the charity NFT released by Charity DAO.
When a user buys a Charity DAO NFT, then 90% of the sale price goes to the particular cause represented by the NFT being sold; the remaining 10% paid to Charity DAO. Members of Charity DAO share the management fee according to their contribution.
Artists DAO is an artists’ community that aims to empower artists to design meaningful NFTs. It is composed of artists that have created NFTs on behalf of charities. Artists DAO also runs NFT design training courses, promotes successful artists. It has a mentoring programme for young and aspiring artists. Members of Artists DAO bring more artists to join the DAO, and participate in the mentoring programme.
The Maxity platform rewards artists through the royalty programme. When an NFT is minted, a percentage of the first-sale and resale amounts can be declared, and on each sale this percentage is transferred to Artists DAO. Members of Artists DAO also get rewarded with MAX token. When an artist designs an NFT, they can choose whether to obtain the services of Artist DAO or not.
An artist can choose whether to use each of the three principals Artists DAO services, or not. The revenue from the artwork will be distributed according to the artist’s choices
3.3.3 Influencer DAO
The idea of Influencer DAO is to harness social media influencers (on platforms like YouTube, Instagram, TikTok, Twitter, etc.) to promote charities, and to feature in NFTs. To achieve this, Maxity will collaborate with several key opinion leader agencies in the UK. We will recruit top influencers with this partnership, and issue exclusive NFTs for them on the Maxity NFT marketplace. They will be chosen from influencers on social media platforms such as Instagram, Twitter, Tiktok, etc., that have more than 200M followers.
The influencers will be used to support charities. Each one will be matched with a set of carefully chosen charities that are fitting to the influencer's interests, so that the influencer can promote the NFTs for the charities. There will be attractive incentives of MAX Token and Influencer DAO Token for their contributions. Artist DAO will also create charity NFTs for the influencers that make significant contributions.
Influencer Dao has a separate tokenomics, and is governed by all Influence DAO members, with IEO planned in 2024.
Donors to a charity have much in common with each other, namely, the interests and objectives of the charity they are supporting. The charity would benefit greatly from building a community among its donors, to give them the opportunity to discuss the charity’s work and become more involved. But this is difficult to achieve: donors may be geographically distributed (preventing meeting at events the charity might organise), and online fora are usually clunky and painful for donors to use.
Maxity NFT marketplace is our first step in helping charities form donor communities. Through the marketplace, donors can showcase the NFT collections they have acquired, and transact with each other. Donors might be interested in completing a particular NFT collection created by the charity, and hence compete with each other to bid for the NFTs they need.
In the community, charities and NGOs synchronise their operations and plans to donors, engaging with their contributors proactively to refine donors’ experiences.
In the future, the Maxity platform will support other kinds of donor engagement. Donors will be able to look at projects the charity is considering undertaking, in a virtual reality setting. They can vote for projects they like, and pledge financial support for them. Charities will be able to try out new ideas, and see which ones gain approval from their donor communities.
A blockchain is a public and immutable record of the transactions that have been recorded on it. This immutable and public nature is what makes cryptocurrencies successful: once a transaction has taken place, it cannot be altered or erased, and everyone can see what transactions have taken place.
These properties of blockchains have led to their being used in other domains which are not primarily financial. Many blockchains have been used to achieve supply-chain transparency. For example, Topl has built a blockchain to assure the provenance and authenticity of coffee[1]. Farmers enter their harvests on the blockchain, and each transaction is recorded there, so that the final consumer can see a record of all the transactions undergone by the coffee they are purchasing. The blockchain assures that there is no double-counting, in which the same premium coffee is being fraudulently shown in different parts of the supply chain (but actually being substituted by a cheaper variety). It ensures pricing fairness, by allowing intermediaries to earn an appropriate profit, while avoiding both excessive profits and unjust exploitation. Many other industries are using blockchain in their supply chains, such as the motor industry, computer industry, and even 3D printing[2] where the blockchain assures proper recording of intellectual property usage for 3D printing designs.
Maxity will use this technology to build the Maxity transparency platform to serve the charity sector. The platform will assure transparency of the donations received by charities, and the expenditure on project work undertaken by them. In the future, Maxity’s platform will allow charities to register their core project activities on the blockchain. For example, if a charity is building a school, then all the purchases of materials and hiring of labour can be recorded. Donors can see exactly how much is being spent on what, and this openness and transparency will encourage donors to give more. It will become easier for donors to donate to specific projects being undertaken by the charity, and easier for the charity to manage its funds and the project restrictions that have been given as conditions by donors. By putting these activities on the blockchain, charities can achieve greater financial transparency, and hence greater trust by their donor communities.
[1] Topl: the blockchain built for good. Decentralized protocol designed to unlock the next wave of inclusive, sustainable innovation across supply chains and markets. https://www.topl.co/
[2] Klöckner, Kurpjuweit, Velu, Wagner: Does Blockchain for 3D Printing Offer Opportunities for Business Model Innovation? Research-Technology Management, 63(4), 2020. https://doi.org/10.1080/08956308.2020.1762444
The social impact protocol provides a one stop solution for registering fundraising, fund management, expenditure, financial ledgers and report, proposals for implementing activities, and results of all projects on the blockchain for verification.
- Fundraising: Instead of being a standard donation platform, Maxity allows charities and NGOs to tell their stories and challenges in digital art form (NFTs) to raise funds. Charities and NGOs onboarding Maxity receive full assistance through DAOs (decentralised autonomous organisations).
- 1.Artists from Artists Dao will provide design support and ideas for charities and NGOs to create creating NFT artworks;
- 2.Influencers from Influencer Dao provide in house marketing support for charities, to allow charities to reach new audiences through exposures by well-known inspirers;
- 3.Charity Dao will assist in facilitating NFTs fundraising for personal and emergency context and provide guidance and specification for charities and NGOs;
- 4.Donors receive valuable and meaningful NFTs for their personal use in return for their donation;
- Fund Management: The DeFi product - MakeSwap on Maxity provides a decentralised protocol for fundraisers to deposit, manage or lock up their funds to get rewards (yield-farming). It also allows peer-to-peer exchange of tokens received through selling of NFTs for fiat currencies;
- Expenditure: Maxity requires charities to make contributions to support groups, compliant goods and services providers using a decentralised wallet. This is to remove intermediaries, monitor the accountability and transparency of cash flows. Maxity also allows all global licensed payment companies to participate in the exchange of digital currencies and fiat currencies;
- Voting for activities to be implemented: Charitable organisations and NGOs engage donors, other charities and interested parties to vote on proposals that demonstrate their plans (goals, plans, proposals, supports, budgets, etc). Their willingness to be transparent about their operations will allow users to connect with charities and NGOs at an individual level. Donors can create counter-proposals and build them in the metaverse; these counter-proposals can be compared with the proposals made by the charities;
- Project results: Charity activities will be executed online (in the metaverse) and offline (in the physical world) simultaneously once the proposals have been agreed upon. The Maxity Symbiotic Metaverse will connect with the Maxity transparency platform to ensure all the activities of charities and NGOs are correctly recorded on the blockchain;
- Financial Reports Disclosure: Charities and NGOs are required to disclose financial ledgers, expenditure and related statements on the blockchain, on the premise of meeting the privacy protection requirements of participants and other relevant laws and regulations. Annual financial audit reports, tasks that volunteers can complete in the metaverse, volunteer activities and rewards also need to be disclosed in order to strengthen trust in the charity sector. Global licensed audit firms are welcome to participate in evaluating the internal control and contents of financial statements;
Maxity encourages donors, volunteers, charities, NGOs, social enterprises, recipients to share experiences, thoughts, stories, impacts on the Symbiotic Metaverse to help develop shared values with the wider community. By incorporating the SocialFi model, these creators have the ultimate ownership to their shared contents, and are rewarded accordingly.
The social impact protocol proposed by Maxity will fundamentally revolutionise the voluntary sector, through genuine statements and proactive engagements, rebuilding the loyalty of donors and reaching a wider audience. In this way, Maxity can make a strong contribution towards the 17 Global Goals set out by the United Nations for a sustainable future.
Metaverses have no limitations, they can be in whatever shapes as one would like. However, the majority of metaverses are being restricted to revolve around the gaming industry, with nobody directing metaverse - a virtual world full of capabilities, to resolve evident issues in the real world. Hence, Maxity is building the Symbiotic Metaverse.
Symbiotic Metaverse is composed of 7 continents (just like the real world), which is then made up of 100,000 Virtual Lands. It is an evolutionary innovation focusing on establishing a virtual community that connects all humanity, to urge mankind to grow, advance, solve problems, co-evolve, share knowledge, goals and decisions that matter. Maxity realises it is implausible to create a fair and just society when only the riches are in the Symbiotic Metaverse, which is why, in order to allow everyone to join the metaverse, Maxity has proposed a Volunteer and Reward model (V2R). This enables low-income people to earn hardware equipment to enter this virtual world.
In the Symbiotic Metaverse, all hardships faced by all living creatures, environment, society etc, even at the edge of the world, will be remedied by charitable tasks. Income, race, religion, gender, organisation inequality will no longer occur in this parallel universe. It is a metaverse where mankind, flora and fauna, and the environment live in genuine freedom and solidarity with each other, with the goal of achieving Cosmic Harmony.
A metaverse has the six key elements as below:
The Symbiotic Metaverse includes the following functions:
NFTs and digital assets in the metaverse will be traded on Maxity NFT Marketplace;
5.1.2.1 Avatar NFTs
An Avatar represents a participant or a volunteer, these NFTs will be created by artists from the Artists Dao. Purchasing Avatars will allow users all over the world to enter the Symbiotic Metaverse and participate in various events. These superheroes will be on a mission to save the earth and humanity through immersing themselves in charitable tasks, to accomplish the goal of a sustainable future for mankind. An avatar possesses certain specifications and formats and comes with a default set of animations such as walking, running, jumping or fighting. Specifically, the avatar will be modifiable piece by piece (helmet, arms, torso, legs, etc.) by equipping it with different compatible asset tokens.
5.1.2.2 Virtual Lands
- The Symbiotic metaverse Tier 1 will contain 7 continents with 100 thousand virtual lands, the capacity is fixed;
- Landowners can create buildings, scenes, artworks, challenges etc on their lands;
- Create billboards for advertising or design a headquarter to display NFTs;
- Free to build or rent out lands for any kind of events or social activities;
- Buy and sell Land, Avatar wearables and tools on NFT Marketplace, backed by the eco-friendly blockchain;
- Being in a “premium neighbourhood” or close to landmark locations should influence the value of lands;
- Charities with 100 NFTs sales are eligible for free mint;
- Charities can own lands and utilise them for their works at their own discretion. Lands will have different values according to their locations within the metaverse, and their easy access to resources;
MAX coin is an essential part of The Symbiotic Metaverse and Maxity is working on establishing key mechanics that makes it intrinsically tied to the Symbiotic Metaverse and its value. MAX coin is an ERC-20 utility token built on the Ethereum blockchain that serves as the basis for transactions within The Symbiotic Metaverse.
Under the Volunteer and Reward model，there will be the two token models named MAX “governance” token and their MAXI V&R token. MAX is a fixed supply token that is meant to accrue value over time with its digital scarcity, while the total supply of MAXI is infinite which can be minted and burned as needed to balance out the game.
5.1.4.1 Charitable Tasks
- For charities and NGOs, creating an emotional reaction and personal connection in an ethical manner that will encourage donations is one the biggest challenges for any charity campaign;
- Charitable organisations in the Symbiotic Metaverse are allowed to hold volunteer events globally;
- The topics of charitable tasks can be about wildlife or environment protection, blood donation, clothing or money donation, education support;
5.1.4.2 Volunteer and Reward (V&R)
- Volunteer and Reward (V&R) is a scheme that incentivises charity volunteers to join the metaverse and work in it for the charity;
- Volunteers worldwide will be claiming charitable tasks, with each completion comes with MAXI token rewards on Symbiotic Metaverse;
- MAXI token is available to exchange metaverse devices, purchase charity NFTs to donate to charities and tradeable on crypto exchanges;
- Virtual lands utility upgrades, building constructions, maintenances and upgrades will exhaust and stabilise MAXI token;
- All the utilities, buildings, lands come in the form of NFTs, which are tradeable on Maxity NFT marketplace;
- In the metaverse, A nascent trend named “Social Verse” comes from active virtual social activities. Everyone can create an avatar, based on personal interests or recommendations to experience immersive virtual social events;
- Under the Volunteer-to-Earn model, like-minded individuals can build social connections through communicating about the same activities;
- Empowering creativity by making creators the ultimate beneficiaries for all knowledge, opinions, contents, disregard of their formats (pictures, articles, videos etc) shared on Social Verse;
- Decentralised technology allows social communities to enjoy complete liberty on Social Verse, which eventually will normalise the concept of DAO;
Maxity team and the UK All Party Parliamentary Group on Metaverse and Web 3.0, will work with top universities to develop the core technologies above.
Maxity has launched an Ethereum ERC-20 token, called MAX. The purpose of the token is to allow charities, donors, volunteers, and investors to benefit from Maxity’s work.
The total supply of MAX is limited to 1,000,000,000 tokens.
Tokens will be minted on a schedule over the period 2022 to 2026:
As shown in the table, tokens will be allocated for the following purposes:
- Ecosystem (20%): this amount is reserved for development of the Maxity ecosystem. It may be given as rewards or grants to developers in the Maxity community.
- Stake & trade rewards (15%): this amount is reserved for paying interest on the Maxity DeFi platform. The platform allows investors to stake MAX for predefined fixed periods, and receive MAX interest payments from this fund.
- Charities, and Charity DAO, Artists DAO and Influencers DAO (15%): these tokens are reserved for allocating to charities and the various DAOs.
- Team (15%): Reserved for strategic rewards to the Maxity team.
- Airdrop (10%): To publicise Maxity and to create a Maxity community, we will airdrop tokens to strategically-chosen addresses.
- Treasury (10%): This amount is onchain managed funds of Maxity. The function of the treasury is to create the needed runway as opportunities arise. This is slated for realising partnerships, community grants, developer rewards, operating capital, market making, exchange listings, strategic investment and anything that will best ensure the long-term benefit of the project. A portion of these tokens will function as a liquidity allocation which likely represents our nearest-term allocation.
- Investor (10%): this amount is reserved for VC investors.
- Strategic sales (3.5%): this amount is reserved for individual investors who can bring strategic resources.
- Liquidity management (1.5%): Reserved for market making on partner exchanges.
Maxity’s aim is to use technology for good in the world, and to achieve this aim it invites the cooperation of charities worldwide. Charities and NGOs can join Maxity and create NFT collections on its platform. Later, they will obtain the other services described in this whitepaper, via Maxity’s upcoming transparency platform, DeFi platform, and symbiotic universe.
Charities and other interested parties can directly participate in the governance of Maxity by acquiring the MAX token, which confers voting rights. MAX token can be obtained by buying it on exchanges, or participating in the DAOs that Maxity has established.
Last modified 25d ago