Expensive network fees have made it impractical for Karma Finance to implement any kind of UBI/DeFi hybrid over Ethereum.

Any kind of transaction over a blockchain network that costs more than a few cents is completely absurd.

We have, in fact, spent more than half of our budget paying Ethereum gas fees(!) Needless to say, Ethereum is not the way forward for Karma Finance.

But Ethereum Virtual Machine (EVM) is.

Moving To the Fantom Ecosystem

Karma Finance is moving to Fantom’s Opera network. It is a DAG-based permissionless smart contract platform with an exclusive aBFT consensus mechanism for enterprise-level scalability and bank-grade security. With…


Per the result of a vote last month on whether or not Karma Finance should integrate elements of Universal Basic Income (UBI) with our DeFi solution, we are happy to formally announce that it will be pursued.

In doing this, we want to provide a model for how UBI can be achieved with private funds.

Get Rewarded for Helping Others

We’re primarily interested in value creation, not just ‘giving’ for the sake of giving. We want as many people around the world as possible to be productive members of their respective societies to help improve the overall state of the world.

The new Karma Finance…


The month of October saw the introduction of Karma Finance’s brand personality and message, ALP round 2, the KFITO token running on Consensus Finance’s protocols as its first pilot, and our first press release.

We also conducted a poll to find out whether the community wants to respond to the opportunity that the World Economic Forum’s ‘Great Reset’ efforts (backed by the United Nations and major world governments) have presented in the way of Karma Finance possibly pivoting to “UBI for DeFi”.

Resolving the Crypto Project Paradox

Crypto currently suffers from a dilemma: genuine projects (i.e., those that are not a scam on some level)…


We are happy to announce that Karma Finance has joined Consensus Finance as the first token in its pre-release. This new facility is designed to gradually increase the health of the KFI market and solve problems such as distribution and liquidity, as well as provide a method for funds to reach development and marketing efforts for the project.

Here’s what it all means.

Consensus Finance

Consensus Finance is a new kind of protocol for blockchain and DeFi. It is a platform for Incentivized Token Organizations (ITOs) that run on smart contracts that anyone can easily participate in.

Consensus Finance (CoFi), developed by…


We have decided on the all-important core message and brand personality going forward. This will begin our PR efforts and present the face of the Karma Finance project to the general public.

What is Karma Finance?

Karma Finance is DeFi for students. It is a way to invest in our future by staking value in a decentralized platform that students from anywhere can claim. They can then use what they receive to help cover their tuition, textbooks, and other expenses.

Our Brand Personality

Karma Finance is the ‘Magician’ archetype. Brands in this archetype include Disney, Tesla, MasterCard, Olay, Dyson, Adidas, and Sony. The archetype motto is “Anything…


This month saw the birth of Karma Finance and the launch of one of the very few giving-based efforts in crypto. We’d like to thank everyone for helping to get this community-funded project off of the ground.

Here are some highlights, as well as where we are now.

Roadmap

We have illustrated the four stages of the Karma Finance project here. Now in Phase 0, we are focused on developing our brand message, personality, and introducing ourselves to the public.

Phase 0: Awareness
Phase 1: Understanding
Phase 2: Wisdom
Phase 3: Enlightenment

Note that timeframes for each phase are on the…


A few quick notes on our progress before we go back to building something awesome…

New Website

You’ll notice our new website with more content and features added. This will give you more of an idea of what Karma Finance is all about, our message, and where we are going with the project.

New Roadmap

In the roadmap section of the website you’ll find a list of what we’re currently working on as well as what we have planned. Feel free to create new improvement proposals to help us grow by clicking on ‘Proposals’ and submitting your ideas. The more the merrier.

You can…


Swap Complete

The KFI token swap is now complete. Everyone who held the old KFI tokens at the time of the snapshot should now have the new KFI tokens in their wallets.

Please add the new contract address as a custom token to see it in your wallet: 0xF19Ed2025eFfdb2b22d1376c09b4884F26475DD1 (18 decimals)

Return to the ALPs

We have our Angel Liquidity Providers (ALPs) to thank for the existence of this community-supported and governed project. All of the ETH they so graciously provided, a total of 41.48391684, has been returned to their wallets from the liquidity pool.

The first KFI token allocation for ALPs has already been sent…


The new KFI token supply has been reduced to 513,000 tokens. The new contract is at https://etherscan.io/address/0xf19ed2025effdb2b22d1376c09b4884f26475dd1

Note that the old KFI tokens are still valid and will be used for the swap.

A token snapshot will be taken sometime on or before September 15, 2020 to see which wallets hold the existing $KFI token so that the new tokens can be distributed.

How To Swap

There is no need to send your old tokens back. New tokens will be sent to the same address that holds the current token.

Those who have held their tokens longest will get their tokens first. (After…


$KFI Launch

The launch of the $KFI token was an… interesting event. At least 3 coordinated groups found their way to the token early and descended upon the day-old community like a swarm of locusts. Understandable. Making money is mostly what crypto has become, but we don’t want to signal that Karma Finance tokens are anything more than utility tokens. That’s not what Karma is about.

Some Machiavellian measures were taken to make Karma Finance less attractive to such coordinated efforts from the start. It’s nice to smell coffee early in the morning, but give the good stuff some time to brew.

Karma Finance

A decentralized protocol for direct, P2P giving where both the sending and receiving parties increase the value of rewards through various mechanisms.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store