We are happy to take some time to introduce the Fat Matt Charity Fund!
We started Fat Matt Staking with this vision in mind, we believe in the future of Cardano and want to create something special that follows in Cardano’s footsteps. We donate 34% of our operator rewards to the Charity Fund each month, this fund is staked in FATTY pool, and our goal with this fund is to eventually donate 100% of our staking rewards to charity. As the fund gets started, the staking rewards are small, and wouldn’t provide a meaningful impact to charity. Therefore, we are donating $250 to the delegator’s choice charity each month. Once our charity fund’s staking rewards surpass $250 in value, then we will begin using the fund for donations. Until that point, the staking rewards are helping the fund grow in value.
So why did we decide on a Charity Fund instead of giving a flat 10% or so to charity? Allow our short story below to highlight the impact of a charity fund.
Scott’s father retired after a 30-year career with the Forestry Service. If anyone knows about trees, it’s him. He strategically selected the perfect location for cultivating his award-winning Pecan orchard which would produce a healthy revenue stream for the family for generations. In addition to having everything they wanted, this lucrative operation allowed the family to support many local and global non-profits with a percentage of their harvest.
Now imagine, after 55 years and the fall harvest Scott convinces the other philanthropic heir to cut down and give all the pecan wood to their favorite charities, truly helping more than they have ever been able to do in a single year. This season the wood would be used to cook meals for the hungry, build homes for the homeless, wood working for the recovering addicts, aide to assist the marginalized and trafficked, and many other uses to provide a sizable monetary donation, overall helping countless people. They would get recognized and feel great about their sizable contributions, as they should. The problem is now the orchard has lost its ability to produce. The next season the organizations who previously relied on the support of pecan sales would go without, and struggle to sustain operations.
Fortunately, Scott is a wise man who understands the bigger picture. One year he split the profits from the harvest 3 ways. One third to himself, one third to the heir, and one third to charitable exponential growth. It took some explaining to the other heir that they could still give freely of their third to any charities, but to strategically invest the other third into true, strategic, charitable growth. They finally agreed once discovering how much more they could help with 100% of the increased profits from new orchard going to the charities. Now the hesitant heirs gained a new appreciation for the forethought of Scott to create this “charitable” orchard. Grateful for the diligence given to produce increasing revenues and the ability to give even more year after year, the family gets together every year to review the impact their donations had from the prior year and decide which organizations to help out of their abundant resources. Sometimes the heirs donate more from their third to help grow the charitable orchard, give to their place of worship, education center, community event, etc., but the charitable orchard is there to produce a continuous revenue stream forever.
Just as an increase in trees brings an increase in pounds of pecans, an increase of staked ADA brings an increase in rewarded ADA. The charitable orchard now is able to give 100% of profits that it would not have had, just like a staked, charitable, ADA wallet. Back to the orchard, the price per pound of pecans is continuously increasing over longer periods of time, as the orchard grew so did their donations.
We believe strongly in the longevity and future value proposition Cardano brings to the world. Imagine, if you will, giving 200 ADA to charity today, vs. giving 200 ADA to charity in 5 years. Most of us would say the 200 ADA in the future would be more valuable than it is today. Our goal in creating this “charitable orchard” is to create a fund that will continuously give, and grow as the price of its pecans grows as well.
To sum it up, staking with FATTY gives you the ability to be a part of a forward-thinking charitable pool where you get to choose where the 100% of charitable increase goes. We call it, “You Choose, We Give!”
You can view the Fat Matt Charity Fund at anytime with the following link: Fat Matt Charity Fund
If you’d like to donate directly to support our mission, you can with the following ADA address: