Algorand Foundation has entered into a five-year partnership with Climate Ride to promote environmental health and sustainability.
Algorand is becoming greener with a multi-million dollar grant to Climate Ride
The official press release states that the foundation has committed a total of $15 million, including $500,000 per year of its own and funds raised by Climate Ride participants of up to $2.5 million per year. The aim is to expand the Climate Ride programme.
So in total the non-profit organization will commit up to $3 million a year for five years.
The CEO of the Algorand Foundation, Staci Warden, has been a Climate Rider for some time.
With these funds, Climate Ride will expand its event offerings, like the Green Fund, into new major cities in addition to those where they already hold events.
In particular, Climate Ride will double the donations received from people participating in their cycling, running and hiking events.
Climate Ride is a community dedicated to protecting the planet and inspiring people to work towards a more sustainable future. It does this by organizing inclusive events designed to do good for both the planet and the participants.
Algorand, the blockchain 3.0
Algorand is a blockchain designed by MIT professor Silvio Micali to be fast, cheap and scalable.
Algorand Foundation takes responsibility for Algorand’s economics and money supply, decentralized governance and open source ecosystem. In fact, community members who hold tokens of the native ALGO cryptocurrency can vote on changes to the protocol.
Algorand Foundation CEO Staci Warden said:
“I did my first Climate Ride – four days and 250 miles through Death Valley – in 2017, raising money from my family and friends to support wildlife preservation in Africa,. Over the last 12 years, thousands of people like me have raised millions of dollars each year to support climate-related causes through the amazing work of Climate Ride, and we at Algorand are thrilled to be able to help amplify the efforts of its incredible (and fierce!) community of participants in their fight to help preserve the Earth’s environment”.
Climate Ride founder and executive director Caeli Quinn added:
“Today, donations to environmental causes represent only 3% of all philanthropy in the U.S. At the same time, we’ve seen matching grants – like the one Algorand Foundation is providing – lead to an 80% increase in donations to Climate Ride. We’re optimistic that initiatives like the one we’ve forged with Algorand will help Climate Ride expand environmental charitable awareness and encourage more people to get physically active and help their own communities get involved to heal and protect our planet”.