Sept. 21 2021
Today we announce a new Rovas function allowing users to invest their Chrons into projects. Investing has several benefits for the investor, the recipient project, as well as for the NEO economy.
Benefits for the project
- A project owner can use the project form to set that a portion of any reward their project receives will be kept in Chrons (not converted to Merits). Such means can then be converted into national currency and used to finance the project expenses.
- The remaining Merits are distributed among all project shareholders, which includes also the users who reported work in the project. Consequently, their incrreased Merit score might motivate them work again on NEO projects.
Benefits for the investor
- Users from developed countries do not participate on volunteer projects to earn money. Instead, they are motivated to work by desire to satisfy their high-level psychological needs. For a number of volunteers, one of such needs is altruism - the desire to help others - and any form of giving is a common way the need can be satisfied. This type of users is likely to invest the Chrons into specific projects that have the most positive societal impact,
- Users might want to support their favorite projects,
- By investing, users receive Merits whenever the project they invested into is rewarded.
Benefits for the NEO economy
When investing, a portion of Chrons invested is converted into Merits. This removes Chrons from the NEO economy and makes the ones remaining in "circulation" more valuable when exchanged for national currencies. That benefits every Chron holder and especially users from the least developed countries, for whom even low Chron exchange rate against national currency might be better than working in their national economy.