Introducing MagicJar for India


April 2021

last updated:

What’s happening in India is nothing short of a tragedy, and it’s been incredibly inspiring to see the crypto community rally to help fight this. Anish, Paolo, and I couldn't stand to sit and watch, so we came together to figure out how we could help, and built a new way to donate with crypto: MagicJar.

MagicJar is a pool where anyone can deposit a portion of their crypto savings, and donate the interests generated to the India Covid Relief Fund (inspired by to PoolTogether). You can withdraw your funds at any time, so it's a no-loss donation. You help by saving money! Security and trust was a big focus for us, so we decided to build on Compound through rDAI, which has been audited by Quantstamp. At launch, we only support MetaMask and DAI, but plan to support WalletConnect soon, and other tokens down the line.

It is only possible to do something like this in crypto; the composability, high efficiency, open-source nature, and liquidity of the Ethereum ecosystem are what makes this a reality. As humans, we are building something truly beautiful with crypto, and it has come time to put it in service of the most noble of causes: saving lives.

If you can, definitely donate to the crypto COVID Relief Fund directly, but please consider staking a portion of your savings on top of that. Even if it's just for a few weeks, every day and every cent counts.

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