We want to share some Apollo DAO stats for the last week as well as provide insight to where Apollo DAO’s focus will be moving forward.

Apollo Community Farming Event – Phase 1

Just over a week ago, Apollo launched Phase 1 of our Community Farming Event, with 3 million Apollo tokens available for a price of $0.25.

The Apollo DAO auto compounding platform exceeded $200m TVL within 24 hours which was incredible to witness. This is even more incredible when you consider that the TVL for the whole of DeFi was less than $200m back at the beginning of 2019 and there was less than $200m TVL across the whole of Terra at the beginning of March this year, only 6 months ago! 

While DeFi has grown a lot since then, I think this clearly demonstrates how far both DeFi and Terra have come in a very short amount of time.

Due to this huge amount of TVL added to the Apollo platform, all 3 million Apollo tokens originally available for our Community Farming Event were farmed within 3 days. Considering that we expected this event to last approximately one month, we were surprised, yet delighted by the interest and demand from the community. As events unfolded, we were able to launch Phase 2 of our Community Farming Event making an additional 6 million Apollo tokens available for our community.

Apollo Community Farming Event – Phase 2

Phase 2 of our Community Farming Event was designed to be more focused on allowing long term focused community members to acquire more Apollo tokens. While the Apollo token price is the same, these tokens are distributed more slowly (due to a lower performance fee), while also having a longer vesting schedule. 

While there has been a drop in Apollo’s TVL since the launch of Phase 2, this figure has remained over $125m of TVL on Apollo, which clearly shows there is a huge amount of demand for Apollo tokens from longer term investors.

Recent social media harassment 

Dogecoin founder Bill Markus complained about the Shiba community that constantly harassed his Twitter account and screamed at him all the time. However, he found it unbreakable and tried to calm the Twitter community on the Shiba hype.

Shiba’s marketing strategy

By downvoting Dogecoin, Shiba brings the crypto community’s attention to a rivalry relationship between Dogecoin. Unlike Dogecoin, which only focuses on its own memes culture within the community, Shiba memes Dogecoin and makes a meme enemy to Dogecoin.

Dog fight intensifies

Shiba wants to compete with Dogecoin but in an unfair way. Dogecoin is considering the first successful meme coin with its blockchain infrastructure. Shiba is a layer two token that runs on the Ethereum blockchain. However, social media seems cannot decide which one is better. Even Elon Musk was making fun of both meme coins and would not decide which one was better until he fully upvoted Dogecoin implicitly.

Shiba got dumped

Ethereum co-founder Vitalik Buterin dumped Shiba in earlier 2021 and donated his funds to India and help fight COVID. The community was shocked at first but took it as a charity even as their rebranding effort. They also set up the Vitalik Buterin Burn account to shift attention from investors’ sold of the news to a safekeeping view.

Shiba creates an eco-system

Shiba continues expanding its possibility to reach many recent crypto products, including Swap, Defi, NFTs, and many other potential upcoming projects.

Shiba supports donations

Shiba also supports Shiba arts and Shiba animal rescue, similar to what Doge did in the past.

What is the future of Shiba

The question is, what if Shiba breaks apart from Dogecoin and becomes their tokencomic, will Shiba continues their success story and build their own story? That is what we want to see in their subsequent development.

During the industrial age, entrepreneurs helped move the idea of alms giving to what is known today as charity. Social problems were the focus of newly established foundations such as the W.K. Kellogg Foundation and Carnegie Foundation (Kirsch Foundation). The next shift of thinking came with the introduction of wealth in the late 1990s from the technology boom. Individuals, such as Bill Gates, had accumulated massive personal wealth and decided to use some of that wealth to address social problems through charitable giving.

Angel Protocol aims to leverage the yield mechanism of Anchor Protocol’s target earning functionality of 20% on UST deposits to create perpetual charity endowments. When users donate, they will choose what percent of their donation they want to go to the charity immediately, which will be sent to the charity’s Anchor “Immediate Giving” account. The remaining amount will be deposited in the charity’s Anchor “Perpetual Giving” account. The Perpetual Giving account will transfer funds annually at a 15% rate to the charity’s “Immediate Giving” account. The remaining 5% will be held to compound the savings investment balance. 

Charitable giving is vital to the stability of the nonprofit sector. The nonprofit sector is a vital economic source in many regions around the world. “If the nonprofit sector throughout the world was a separate national economy, it would be the world’s eighth largest economy” (Salamon and Anheier 1999). 

The following section shows an overview of how the nonprofit and charitable sector represents a significant, highly diverse component of the U.S. economy. 

Table 1 presents information on the number of nonprofit and charitable organizations as of July, 2009. Of the 1.5 million registered nonprofit organizations, nearly 64% are public charities. Nearly 8% are private foundations, while 29% are other types of nonprofits. Only 52% of registered charities file Form 990. Non-filers include qualifying religious organizations, small organizations, and organizations that may no longer exist but have not been removed from the IRS Business Master File (BMF). Very little information is available regarding non-filing organizations. 

Measuring employment in the nonprofit and charitable sector is not an easy task. There is no government agency that regularly collects systematic employment data on the nonprofit sector. There are two major studies that have attempted to measure employment in the nonprofit and charitable sector in recent years. 

Table 2 provides estimates of nonprofit employment by industry. More than half of nonprofit employment (approximately 54%) is involved in health care and social assistance. In 1998, nearly 23% of nonprofit employees were involved in other services. This proportion fell by 2005 to just over 21%. In both 1998 and 2005, approximately 18% of nonprofit employees provided educational services. Arts, entertainment, and recreation was the fourth largest category, with nearly 4% of all nonprofit employment within this category.