The platform, named GIVLY, will be programmed to help boost transparency, accountability, and realized social impact to address issues in existing social funding programs, RocketBC said via Medium.
The Hong Kong-based startup added that the project intends to reduce inefficiency layers and fees, maximize the intended benefit, and show donors the social impact of their contributions.
GIVLY will work to help donors, workers, proposers, and beneficiaries to better communicate with each other about finances.
Social funding participants will also be able to track and vote to validate proposals on the platform.
The GIVLY coin will be issued in BEP-2 format on Binance Chain and proposed to be listed on Binance’s decentralized exchange.
“By listing our coin on Binance DEX, GIVLY coin will be better presented to donors with lowered fees and transparent transactions,” RocketBC explained.