From El Dorado we continue to grow to expand opportunities for Latin Americans, which is why we have partnered with Impact Market, an international initiative that is changing the lives of entire families living in vulnerable communities.

Through this alliance, thousands of families can receive subsidies and have the opportunity to generate sources of income, while expanding the opportunities for our users to actively participate in P2P. Do you want to know more? Here we tell you everything.

We support communities with Impact Market

On previous occasions we have spoken to you about the social mission of Celo and of the initiatives that are being carried out in this ecosystem to achieve the goal of creating a world where finance brings prosperity to all.

Precisely one of these initiatives has become a key alliance; we are talking about Impact Market, a project that provides aid to vulnerable communities through the direct transfer of CuSD, through a decentralized poverty alleviation protocol, which allows entire families to have access to a decent income that gives them a better quality of life.

It should be noted that the funds come from donations and that each donor is rewarded with $PACT, the Impact Market governance token, and all processes are recorded on its blockchain, which guarantees transparency throughout the process.

Currently Venezuela is listed as one of the countries with the most beneficiary communities, including Morón, Trincheras, San Pedro del Río, Guacara, among others. However, initially those who received this income faced a problem: The difficulty of exchanging cUSD to bolivars changed when Impact Market decided to formally ally with El Dorado, recommending our P2P to its beneficiaries as the ideal option to exchange the Celo dollars granted.

How does it work?

Impact Market has a transparent process for choosing its beneficiaries, so they have ambassadors in each of the countries where they work. In the case of Venezuela, its Ambassador works together with other community organizations that map the needs of families in communities.

To include a new community, a proposal is submitted, which is approved if it meets the minimum requirements established by Impact, each beneficiary then configures their wallet to receive cUSD, allowing them to enjoy a basic monthly income. When a user wants to exchange their crypto dollars to obtain bolivars and thus make purchases and pay for services, they only need access to the P2P of El Dorado, where they can choose between a sales order already created by another user, or create your own order under your terms and conditions.

In addition, this strategic alliance benefits users who are already operating on the platform, since the number of transactions created to exchange this cryptocurrency for fiat money allows market takers to have more options to continue enjoying the benefits of El Dorado, since Impact Market beneficiaries go to the marketplace to be able to exchange their cUSD balance for their national currency, which means a significant uptick in the liquidity of the P2P market.

Are you ready to explore the new opportunities that arise from this alliance? Download the app or access the Official page from El Dorado and discover a new way to enjoy cryptocurrencies.