Frequently Asked Questions
Regarding How to Build Abundance in Cryptocurrency 💗
Q: Is the course taught live?
A: Yes! Our founder, Rachel, teaches the course live online. As of 2021, we offer the live course on an annual basis.
However, as not everyone is able to attend live, a recording of each session is also available for students to view at their leisure. Recordings are available to rewatch beyond the duration of the course, at the same link as the live, and will be accessible almost immediately after a live session ends.
If you’re not able to make a live session, you’ll also have the ability to post questions in our private class forum in advance, and Rachel will be sure to answer during.
Q: How long is the course?
A: About 3 months in total. The bulk of it happens during what we call the Core Module, which spans about a month, and then we have tapering Advanced Live Trading Sessions to help students find their sea legs and develop their own trading autonomy.
During the Core Module, you’ll have 2 sessions per week over a 4 week period. One of these 2 weekly sessions will be what we call a Theory Session, during which we’ll discuss what cryptocurrency is, its history, and its potential, to give you a foundational understanding of what you’re dealing with.
The other will be a Live Trading Session, during which you’re encouraged to make cryptocurrency trades in real time, and ask questions as you learn through doing.
Depending on the number of questions asked, sessions typically run about 60-75 minutes in duration.
After the conclusion of the Core Module, we’ll have an Advanced Live Trading Session about two weeks later, another two weeks after that, and then a final Advanced Live Trading Session about one month after that. The idea behind this structure is to provide you with an opportunity to keep trading together live while tapering off the formal sessions, so that you’re retaining active support while also strengthening your ability to act alone.
The Advanced Live Trading Sessions will be conducted much like the Live Trading Sessions, with room for theoretical discussion as needed.
Q: When are course sessions?
A: The live sessions will be held at 11 am PT on Tuesdays and Thursdays. When a new live course is upcoming, we’ll be sure to post the specific dates. As of 2021, we have committed to offering one live course per year.
Q: What specific topics are covered in the course?
A: To get more granular, in Theory Sessions, we'll cover intellectual topics like the History of Cryptocurrency, how centralized banks operate (and the distinction between those and decentralized ecosystems), Mistakes Traders Typically Make, and more.
Because so much can change so fast within the sector and each student group is different, we also try to tailor the material to a certain extent, depending on what seems most beneficial to emphasize at a given moment in time.
For example, NFTs were less in the public awareness when we started teaching the course, and so previously we only briefly mentioned them. Then suddenly there was WAY more interest in them, so we devoted more time to them. As of mid-2023, there’s less interest again, so they would merit less focus in our curriculum.
In Live Trading Sessions, the emphasis is on learning through experience, something we think the legacy education system doesn't prioritize to the extent that would be best. We'll make trades together, devise trading plans and strategies, and continually self-evaluate based on how those trades perform. Students will be encouraged to make adjustments to their individual trading approaches as needed, based on this experience.
Q: How much does the course cost? Is a payment plan option available?
A: Because you receive $2499 in SEEDS cryptocurrency at market value at the time you’re charged, if you pay up front, this makes the course effectively free. While past performance does not guarantee future results, this means that if SEEDS go up in value, you can find yourself in profit without having to do anything else.
If you’d prefer, you can opt for the monthly payment plan, and you’ll still receive $2499 in SEEDS in total. The SEEDS will be sent in a batch transfer following the close of course doors, and prior to the first course session. You can look up your wallet address on a block explorer like Etherscan.io to check in on transfers.
If money is tight right now, but you’re still interested in joining the course, you are always welcome to redeem a SEED to ask for help, as other students have done successfully in the past!
When you join the course, you’ll gain lifetime access not only to the version of the course that’s most current at the time of your sign-up, but also to any future version of the course we hold. This can be helpful as a refresher, given that things in the crypto sector can change fast.
Q: Anything else I should know?
A: The course sustains our project so that we can ensure that 100% of the value of gifts that come through Seeds (minus third party transaction fees charged by the Ethereum network and Stripe) go to those in need. 💗
If it’s a fit, we’d love to have you join!
Q: What’s the best way to contact the Seeds team?
A: It’s most helpful to use our Discord. You can search it to see if your query was answered previously. Also, hundreds of Seeds community members hang out there, and may be quicker to reply to your question than our internal team is able to be. We’ve found that posting in a community forum like Discord often means that multiple people who have a similar question can receive help simultaneously.
If your query is more private, you’re very welcome to email us at team@seedsgives.com.
Q: So how does Seeds work?
A: ICYMI, we dive into detail on our homepage below the fold. In a nutshell, when you give to people in need through Seeds with crypto or a card, 100% of the value of your gift goes to the recipient, minus any transaction fees charged by third parties like Stripe or the Ethereum network. Gifts are sent in SEEDS cryptocurrency, and therefore all transactions can be viewed on the blockchain.
When you give, 100%+ of the value of your gift is sent to you in SEEDS in thanks, at market price at the moment your gift was made.
We do this because we want the generous people to be the ones who benefit when SEEDS go up in value, because when you have more resourcing, you’ll be able to do even more to improve the world. 💗
Q: What’s the staking bonus for 2024?
A: At the end of each month in 2024, we’ll send a 50% bonus to one person who has created a new staked position that month, based on the amount of new ETH they’ve added to the pool (which is to say, ETH that was not in the SEEDS-ETH pool previously. By way of illustration, trading SEEDS to get the ETH you use to stake would not qualify you for the bonus, because doing so simply moves the same ETH around in the SEEDS-ETH pool, rather than helping the pool to grow).
The reward will be sent in SEEDS.
For example, if in January you stake $1000 worth of new ETH in the SEEDS-ETH pool - regardless of the amount of SEEDS you stake - and you’re that month’s winner, we’ll send you $500 worth of SEEDS, according to market price at the moment you staked.
Please note that these must be good faith stakes, intended to help our pool grow (because that serves our community!). Thus, gaming the system in ways that do not encourage the pool’s growth will render one ineligible - for example, staking one month, removing it, and then restaking the same amount the next month to try and enter twice with the same cryptocurrency..
The SEEDS-ETH pool is our community’s mutual aid fund. It’s what allows us to provide direct help to people all around the world - even if they don’t have traditional bank accounts. We couldn’t do this without our stakers, and we appreciate you!
Q: What was the staking bonus for 2023?
A: The 2023 staking bonus was an up to 50% SEEDS reward, prorated monthly, based on the amount of new ETH you stake in the SEEDS-ETH mainnet pool on Uniswap.
It’s important to note that this couldn’t be a result of swapping SEEDS to get the ETH for staking, as that doesn’t grow the ETH in the pool, and therefore defeats the purpose. The bonus is rewarded in SEEDS.
If you staked new ETH in 2022 or earlier and you left it through the end of 2023, you would also be eligible for this bonus (based on the amount of ETH you originally staked, using the best ETH price - which is to say, the lowest - in January of 2023).
There is no requirement to migrate funds from Uniswap V2 to Uniswap V3 to receive the bonus. You’re welcome to stake on any version of Uniswap (though as of this writing, Uniswap automatically distributes new liquidity positions between V2 and V3).
If your position goes out of range, there is no need to unstake and restake it within range in order to receive the bonus (as it will be calculated based on the amount of ETH used when you initially staked). If you’d still like to unstake and restake, you can do so and remain eligible for the bonus so long as you restake within 24 hours of the time you removed your liquidity.
If your position became 100% ETH when it went out of range, you are welcome to unstake and restake it with a larger amount of ETH than used initially to receive a larger bonus, if you unstake and restake within 24 hours. Thereafter, the bonus will be tallied based on the new amount of ETH you’ve staked.
In case it’s helpful, here’s an example:
If you staked $1000 in ETH in the SEEDS-ETH pool before 2023 and left it through the end of 2023, you would receive a $500 SEEDS reward at the best market value for both ETH and SEEDS in January of 2023 (which is to say, when the price was lowest for each respectively). If that meant $500 was equivalent to say, 15,000 SEEDS, per January 2023’s best market value, you would receive a 15,000 SEEDS bonus in early 2024.
If SEEDS go up in value over the year, that 15,000 SEEDS could be worth much more than $500. If they go down in market value, it could be worth less than $500. In any case, it’s free money to thank you for helping the pool to grow.
If you added $1000 in new ETH to the SEEDS-ETH pool by the end of January 2023 and left it through the end of the year, you would be rewarded another $500 worth of SEEDS in thanks, again at January 2023’s best market value.
Because the 2023 bonus is prorated monthly, if you stake by the end of February, we’ll aware you 11/12th of the full 50% bonus amount, per market price at the moment you staked. If you do so by end of March and leave it through the end of the year, 10/12ths of the bonus will be rewarded per market price at the moment you staked, and so on.
You can watch a short staking demonstration video here, and you’re welcome to ask any questions you may have in our Discord.
We couldn’t serve people in need around the world without our liquidity providers, and so staking is hugely appreciated!
Q: When was the 2023 SEEDS staking bonus distributed?
A: It went out on December 31st, 2023!
Q: I’m not very tech-savvy. Can SEEDS still help me?
A: Absolutely! To benefit from SEEDS, you just need to know how to copy and paste, and then follow written instructions.
Think of it like this: most people don’t know a lot about how the internet actually works…but that doesn’t stop them from being able to successfully Google something.
It’s a similar thing with Seeds. So long as you’re able to access the internet, copy-paste, and type, you can benefit from Seeds today.
Q: How can I get SEEDS?
A: SEEDS are available on decentralized exchanges like Uniswap, where they can be purchased with other Ethereum-based cryptocurrencies.
To make sure you’ve found the right cryptocurrency on those platforms, you can search using the SEEDS contract address, which is 0x61404d2d3f2100b124d6827d3f2ddf6233cd71c0.
Alternately, you can help someone in need through our platform, and receive SEEDS in thanks. 💗 You can give in ETH, in Ethereum-compatible cryptocurrencies, or with a debit/credit card.
When you give, we’ll send you a commensurate value of SEEDS or more in appreciation, and 100% of your gift will go to someone in need who has redeemed a SEED to ask for help, minus any fees charged by third parties like Stripe and the Ethereum network. We’ll even cover the associated cost of transferring your SEEDS reward, something that, to our knowledge, no other cryptocurrency project does.
As of April 1st, 2022, we began sending SEEDS rewards in quarterly batch transfers, with the intention of doing so until our Givers Dashboard tool is complete, at which time givers will be able to initiate transfers when they prefer. You can read more about our community’s decision to take this approach here. If you need the SEEDS more immediately - perhaps to stake so that you may earn the reward - you’re welcome to email us at gifts@seedsgives.com.
For example, if you make a $25 USD one-time gift, we’ll send you $25 worth of SEEDS in thanks, at market price at the time you gave.
If you choose a recurring monthly gift, we will send you up to 140% of the value you contributed in SEEDS, also at market price at the moment you made your gift.
Recurring Giving can function like Dollar Cost Averaging, and can empower you to build abundance yourself - through helping people in need - when cryptocurrency goes up.
Q: Can I give anonymously?
A: Sure, if you’d prefer. In that case you’d have to be giving with cryptocurrency. Please note that because of AML/KYC restrictions in the United States, we won’t award SEEDS gifts to anonymous transfers.
It’s also important to recognize that wallet addresses shared on Request for Help pages are used for multiple needs, so if you haven’t specified to which Request for Help your anonymous gift is intended, we don’t have the information we need to allocate it to that.
Thus, anonymous gifts go in our general pool, just like recurring gifts. We make internal decisions regarding where those funds should be designated based on our understanding of what seems to be to the highest good of all, through our engagement with the people making requests.
Q: How do I make a Request for Help?
A: To ask for help of our community, you fill out the form, which takes less than 10 minutes or so to complete.
Near the end, you’ll see a wallet address to which we ask you to send one SEED to activate your request. Please note that you need a little bit of the cryptocurrency Ether in your wallet - a few dollars worth in USD should be more than enough - in order to send the SEED, because SEEDS are Ethereum-powered.
If the transaction fee is prohibitive, you can choose to give to someone in need instead. When you receive your confirmation email, you’re then welcome to reply to ask that a SEED be put aside to activate your request.
To send a SEED to activate your Request for Help:
Open the wallet in which you’re storing your SEEDS.
Select SEEDS from the pulldown menu within your wallet.
Type the number ‘1’ under ‘Amount’ to indicate that you’ll be sending a single SEED.
Indicate at what speed you’d like to send your SEED. The options should say ‘Slow,’ ‘Average,’ and ‘Fast,’ or you’ll see a slider that will allow you to toggle between ‘Fast’ and ‘Cheap.’ It’s a little more expensive to send the token ‘Fast,’ but selecting ‘Slow’ or ‘Cheap’ may mean that your transaction takes a long time to complete (and therefore your request takes a long time to activate), or it may mean that the activation fails altogether. Thus, we recommend choosing ‘Fast’ if the transaction price is affordable and reasonable for you.
Copy-paste the following wallet address where it says ‘To Address’ or ‘Add Recipient.’
The wallet address is: 0x19b84dD334eD6FFa2D59b81DcF28E81C181E66c2
Please make sure it’s copied correctly, as tokens that are sent to the wrong address cannot be recovered.
Click the button that says ‘Send Transaction,’ ‘Next,’ or ‘Confirm,’ depending on the wallet you’re using.
Your token has been sent! Now you just need to share the transfer confirmation.
To do that in Coinbase Wallet: Click on ‘View on Block Explorer,’ and copy the digits following where it says ‘Transaction Hash.’
In a Metamask wallet: Click on your transaction below where it says ‘History,’ then on the arrow next to ‘Details,’ which will allow you to view your TxnHash on Etherscan and copy it. Make sure that the TxnHash indicates that your SEED transfer was successful.
Now paste your TxnHash where prompted in your Request for Help form. When the transaction is confirmed and you have submitted your Request for Help form, your request is live in our system. 😊
Q: I can’t afford the SEED and the ETH necessary to make a Request for Help. Do I have any other options?
A: We understand that more than a billion people around the world live on a dollar or less per day, so when making the decision to ask that 1 SEED be redeemed in order to make a Request for Help, we’ve taken into account that SEEDS must be accessible to everyone. To that end, SEEDS are currently planned to undergo a ‘halvening’ - a shift to asking that only 1/2 a SEED be redeemed to activate a Request for Help - when and if they go above roughly $0.50 USD in value, and again when they are ~$1 USD in value, and so on. You can view the latest SEEDS market value here.
That said, if you can’t afford the current cost of a SEED and the ETH to cover transfer cost (as of this writing, SEEDS are less than $0.04 USD) you’re very welcome to use the #community-fund channel in our Discord, which was created for this purpose.
Q: I can see that a portion of the amount I requested has been raised. Can I claim those funds now?
A: Sure, you can close out the request early and take what’s already been raised if you’d like (you’re welcome to reach out to us via our Discord to ask to do so, or if preferred, you may email us at gifts@seedsgives.com, and we can initiate that transfer).
Keep in mind that when you’ve received 2 gifts from us of any size, we then ask you to either give forward 1/3 of what you’ve received to others in need, or complete a free Vipassana course before receiving a 3rd gift. If you have had recurring gifts allocated toward your need, you’ll need to have followed our terms to receive them.
Q: I’m interested in giving. Could I see testimonials from people who have received a gift from the Seeds community?
A: You’re welcome to visit our Community Discord, where you can ask folks who have received gifts from the Seeds community (as well as those who have given toward requests) directly about their experience.
You can also search the Discord for past comments from those who have given and received gifts (starting with the word ‘thanks’ can be a good way to go).
Q: When I give to a Request for Help (which I understand was activated when someone redeemed a SEED) how do I know the person will use the gift for what they claim they will?
A: We look into signs of dishonesty when a request has been made, and if found, they render the request disqualified, but we don’t police the usage of funds. In our view, most of the “security” software and ID verification tools currently available are quite bad at what they do. They often create more problems than they prevent. Thus, we don’t see value in employing these types of systems, and look forward to a time in which they’re widely abandoned because of their flaws.
First and foremost, we try to come from a place of trust. When someone asks for help, we believe in the highest good of that person. So we assume honesty.
From there, our team talks to those who have made requests, as needed. For example, if an IP address indicates that they may not be located where they claimed, or if there’s any other indication that something doesn’t add up, we’ll engage with them to find out what may be going on. Very often, there’s a good explanation.
If dishonesty is confirmed, we’ll make sure the person understands how shortsighted this approach was, because Seeds can help them long-term.
However, we also understand that when people lie in order to receive a gift, it’s typically (and tragically) because they’ve been so mistreated, often due to racism or misogyny, that they have come to believe that unless they lie, they will be denied what they need. We work to take this factor into account with kindness and humanity, and with an appropriate measure of accountability, which in rare cases can extend to asking someone to step away from the Seeds community until they complete a Vipassana course.
That said, the Seeds system itself is self-moderating by design. Folks can receive 2 fulfilled requests, and are asked to give forward to other people in need before receiving a third gift.
This structure tends to keep people from asking for huge amounts of money, because they know both that it will take more time to source larger gifts, and also because, if they’d like to continue receiving gifts longer terms, they realize that they’ll eventually be asked to give.
Alternately, if they’re unable to pay forward 1/3 of the amount of their gifts, folks can sit a free Vipassana meditation course instead.
Because Vipassana is a means to release all internal negativities, its practice lends itself to healthier habits - including honesty, generosity, and the release of scarcity/fear.
Needless to say, the development of all of those traits on an individual level brings about a more generous, genuine Seeds community overall.
We believe this approach allows us to help those who are struggling, and also to attract those already vibrating at a level of loving-kindness.
Q: Why is there only one featured Request for Help at a time?
A: Everybody needs help sometimes, and we’ve found that sometimes people - especially those with more feminine energy - struggle to ask.
Thus, to discourage ‘consuming’ needs, judging some and perhaps deeming them less worthy than others, we chose to feature a single request on the site at a time.
As with everything within the Seeds ecosystem, if we discover a better way, we’ll try that instead.
Requests in our system raise funds even when not currently featured, via a request’s shareable page, through gifts that may come through our app partners, and through recurring gifts as well.
Q: SEEDS were transferred to my wallet, but I can’t see them. How come?
A: SEEDS are what are sometimes called “custom tokens” - also known as “ERC-20 tokens.” This basically means that they’re standard tokens built on top of the Ethereum cryptonetwork.
Thus, while Ethereum wallets store SEEDS, you sometimes have to “Add a Custom Token” within your Ethereum wallet in order to be able to view your SEEDS… even when they’re already there!
To make your SEEDS visible within your Ethereum wallet via adding a custom token, you may need to input what’s called the “contract address.” The contract address for SEEDS is 0x61404d2d3f2100b124d6827d3f2ddf6233cd71c0.
Your wallet may also ask you for “decimals.” If so, you’d need to input the number 10.
Q: I understand that I can also trade my SEEDS. Where and how do I do that?
A: For context, while our project is not affiliated with any trading platform, SEEDS can be swapped on decentralized cryptocurrency exchanges like Uniswap, 1inch or Zerion. If SEEDS are not immediately showing up in the pulldown menu, you can search for them using the contract address: 0x61404d2d3f2100b124d6827d3f2ddf6233cd71c0
You’ll need some ETH in the same wallet as your SEEDS in order to pay the transfer fees to approve the protocol, and also to execute the trade. Depending on how busy the Ethereum network is at a given time, transaction fees can sometimes be high.
However, because gas fees are variable, if they look too high, they may be lower if you check back later.
It’s also important to understand that if you choose a lower gas amount, there’s a danger that you’ll ‘run out of gas,’ which is to say that the Ethereum network will run through the gas you’ve allotted before the transaction is completed, which means it will fail. Please take this into account when choosing your gas limit.
If you need ETH, you can buy it with your local currency (like the US Dollar) on a centralized exchange (e.g. Gemini or Coinbase).
Steps to trade SEEDS for your local currency:
At a high level, you’ll want to swap SEEDS for ETH on a decentralized exchange like Uniswap, and then trade the ETH for your local currency on a centralized exchange connected to your bank account.
First, you’ll connect your wallet to Uniswap (or similar), following the prompts.
If you have never traded or pooled SEEDS from that wallet before, you’ll first have to click ‘Approve the Uniswap Protocol to use your SEEDS,’ and a dialogue box will appear within your wallet itself, asking you to confirm the transaction. A fee in ETH will be charged.
Then, you’ll click ‘Swap.’ A dialogue box will again appear within your wallet itself, asking for confirmation, and a second fee in ETH will be charged.
Once you’ve traded the SEEDS for ETH on a platform like Uniswap, you can then transfer it to a centralized exchange that allows you to link your bank account, and sell the ETH for your local currency. When doing so, you can typically save up to ~90% in transaction costs when you use the ‘pro’ setting for these centralized exchanges. For example, via Gemini Active Trader rather than Gemini’s ‘basic’ trading platform.
If you’d like to see SEEDS on centralized exchanges like Gemini or Coinbase (which would eliminate the need for the first step), you should totally tweet at them!
Q: How do I ‘stake’ my SEEDS to generate a passive income?
A: If helpful, this short video provides a step-by-step demonstration regarding how to stake.
Staking via decentralized Finance (DeFi) systems has made it possible to generate profits from your cryptocurrency holdings, while retaining complete control over and custody of your money, which isn’t the case at centralized organizations like banks.
Thanks to DeFi, we no longer have to tolerate bad behavior from banks, who profit handsomely off of the money in our checking and savings accounts. Banks then pay us 1% interest, say, at best, while making what can be up to 1000% more off of our money. They also legally invest our money in asset classes like venture capital, which are notoriously misogynistic and racist.
When you stake your SEEDS, you’re avoiding participation in the old system, and also helping to provide financial access to people around the world - even those without bank accounts.
That said, high gas fees are a big issue, so it’s important to make sure they’re worth paying. Staking can also be complex. The below is intended to be a relatively basic overview, specifically for those interested in staking SEEDS longer term (for several months or more).
First, you need both SEEDS and ETH, in roughly the same value, in the same wallet. If you don’t already have SEEDS, you can give to someone in need to receive them in thanks, and we’ll help you set a wallet up.
If you need ETH, you can buy it with fiat currency like the USD on centralized exchanges like Kraken. Once you’ve bought ETH there, transfer it to the wallet holding your SEEDS.
For example, if you want to stake $100 USD worth of SEEDS, we’d suggest adding roughly $100 USD worth of ETH to the same wallet, as well as enough ETH to cover the transaction fee (say $5 worth, as transaction fees vary, for a total of $105 worth of ETH).
Visit Uniswap, and click at the top right, where it says ‘Connect to a wallet.’ Follow the instructions to link the wallet containing both your SEEDS and ETH.
Select ‘Pool’ near the center, and then click on the pink button to the right that says ‘+ New Position.’ You’ll see a screen that says ‘Add Liquidity.’
Under ‘Add Liquidity’ you’ll see that it asks you to ‘Select a Pair’ via two separate pulldown menus. Choose ETH and SEEDS. If you’re unable to find SEEDS in the pulldown, you can search using its contract address, which is 0x61404d2d3f2100b124d6827d3f2ddf6233cd71c0.
Where it says ‘Fee Tier,’ choose ‘0.3%.’
Under ‘Set Price Range,’ choose a minimum that is somewhat below the Current Price shown, and a maximum that is somewhat higher. For example, if the current price is 25,000 SEEDS to 1 ETH, you could choose a minimum of 20,000 SEEDS to 1 ETH, and a maximum of 30,000 SEEDS to 1 ETH (though this seems to invert what a true minimum and maximum would be, it’s correct - the confusion can be attributed to Uniswap’s poor UX). It’s okay if the minimum and maximum prices slightly adjust after you input them.
If you’d like to receive the largest bonus possible in thanks for staking, under ‘Deposit Amounts,’ select ‘Max’ next to SEEDS. Uniswap will automatically calculate the amount of ETH to be staked for that price range, and you’re of course welcome to play around with different numbers.
Click the pink button that says ‘Approve.’ Your wallet will pop a window asking you to confirm the transaction, and a relatively small transaction fee will be charged (it shouldn’t be more than a couple dollars, and if it is, you may want to wait and try again later, because transaction fees are variable).
Once Approved, click the pink button that says ‘Add.’ Your wallet will once again pop a window to ask you to confirm the transaction, and you’ll be charged a more substantial transaction fee. If it’s too high, you can always try again at another time (and thankfully, the Ethereum team is working to implement improvements in 2021 that should eliminate expensive transaction fees going forward).
As soon as it goes through, congrats - you’ve staked your SEEDS! 🎉
You will then automatically begin receiving fee payments from traders, which you can view. You’ll also be eligible for bonuses, and may receive surprise “airdrops,” in which free cryptocurrency is sent to your wallet.
You can remove your cryptocurrency, as well as your profits, at any time, by reconnecting the wallet you used to stake, and hitting the button to ‘Remove Liquidity.’ Your funds will then be transferred to your wallet automatically.
Please note that Seeds is in no way affiliated with any exchange, and as we didn’t build Uniswap, if you have feedback on their product, we suggest Tweeting at them to let them know. 😊
Q: How do you determine where Recurring Gifts go?
A: Recurring gifts go to our ‘general fund,’ and we make decisions internally regarding how to designate them, operating from a foundational ethos: all efforts toward the highest good of all.
On a practical level, this means we consider many factors: urgency, size of the request, geographical location, the good that a gift will do for the community of the requester, the good that a gift will do for the Seeds community overall, and other less concrete assessments that are hard to communicate in written language, but easier to intuit when engaging with a human (as we do with our requesters).
We don’t think that current technology makes it possible for a computer to do a better job at this than a healthy human can, but if the shape of this changes as we grow, and it no longer seems to be the best approach for the highest good of all, we’ll make adjustments.
Q: My Request for Help was granted by the Seeds community! What happens now?
A: First of all, congrats! We’ll send you an email at the address you shared in your Request for Help form to promptly let you know when your request is granted.
In the email, we’ll ask you to confirm the wallet address at which you had said you’d like to receive your gift from Seeds.
Once you’ve done so, we’ll send the gift amount in full.
Please note that we ask that you confirm your wallet address to receive your gift within 30 days.
Q: I need to convert the cryptocurrency gift you sent to my local currency. How do I do that?
A: You can convert your SEEDS to ETH on a decentralized exchange like Uniswap, and then use a centralized cryptocurrency exchange like Coinbase Advanced Trade to convert to your local currency.
We recommend using Coinbase Advanced Trade over “regular” trade on Coinbase.com for this purpose because they charge about 1/10th as much in fees.
If you live in a part of the world that does not yet have access to Coinbase, you can simply Google cryptocurrency exchanges available in your country. As of late 2020, cryptocurrency exchanges are operational in virtually every country in the world.
If you’re having trouble finding a way to exchange cryptocurrency for your local currency, please email us at team@seedsgives.com, and we’ll do our best to help find a solution for you.
Q: Why do I need to create a wallet with a tool like Coinbase Wallet or Metamask to receive my SEEDS?
A: Seeds tokens are ERC-20 standard tokens, so a wallet that supports that technology is necessary in order to be able to store them. If you already have an ERC-20 token-compatible wallet, you’re good to go!
Please note: Wallet addresses provided through Coinbase.com do not accept ERC-20 tokens like SEEDS at the time of this writing, but the non-custodial mobile app Coinbase Wallet does.
Q: How much money should I ask for when redeeming a SEED to make a Request for Help, and how long will it take?
A: While there are no guarantees, the largest request the Seeds community has successfully granted to date was for over $162,000 USD, but larger gifts often take longer to source - sometimes even years.
We’re finding that requests of $1000 or less are often granted comparatively fast, sometimes within a couple weeks. As our community grows, we expect to be able to grant more requests of larger size more and more quickly.
In order to give your request the best chance of being met as quickly as possible, make sure to clearly explain why you’re asking for the funds, and the thought process behind the specific amount you’re requesting.
Q: What am I allowed to request money for?
A: You’re welcome to ask for anything you may need funds for, so long as it’s a legal usage of funding.
Q: Am I guaranteed to receive the money I request?
A: Nope! Each Seeds Request for Help is shown to our community of app users and website visitors, and what you request may resonate with some members of the community, and it may not resonate with others, so we can’t guarantee that any request will be granted within a certain timeframe, or even at all.
To give yourself the best chance at receiving the help you’re requesting as quickly as possible, try to be very clear and succinct about what you need the money for and why when completing the Request for Help form. Smaller requests that are clearly explained are more likely to be granted more quickly.
If you’re not a fluent English speaker, we suggest using Google Translate when making your request, as this can also be quite helpful in increasing the likelihood that your request will be fulfilled.
Q: Can I make more than one Request for Help at once?
A: You’re welcome to make as many requests as you would like. Once you’ve had 2 Requests for Help granted, we ask that you either complete a free Vipassana meditation course, or give forward 1/3 of the total value you’ve received to other folks in need within the Seeds community before you receive a third gift.
For example, if you received a $200 USD gift from Seeds with your first request, and a $100 gift from Seeds with your second request, for a total of $300 gifted, we ask that you give forward 1/3 of that, or $100, to another person who needs help. You can make this gift in pieces, and you may do so in ETH, or using a credit/debit card.
If it is not possible for you to attend a Vipassana course or give forward 1/3 of the total gift amount you’ve received, you may instead raise 1/3 of your total gift amount toward Requests for Help made by others who are in need.
If you’d prefer to raise funds for others, please email us at team@seedsgives.com. We’ll create a unique webpage for you that you can share with others to invite contributions toward your goal.
If you prefer to complete a free Vipassana course, you can register to attend almost anywhere in the world. Simply forward the email you receive after completion to team@seedsgives.com, as proof that you sat the course.
This design is inspired by what our founder, Rachel, has known to work extremely well at the fifteen Vipassana meditation courses she has undertaken, which are almost entirely volunteer-run.
After a meditator has sat 2 of the free courses, she’s typically asked to volunteer at one before sitting again. This has allowed the Vipassana community to sustain itself and grow through giving to 200 centers around the world, so we’ve adapted this approach in our work at Seeds.
Q: I tried to send cryptocurrency, but Etherscan says the transaction is still pending. Why is this? What do I do?
A: When you send cryptocurrency, the transaction is facilitated by ‘miners’ or ‘validators’ within the network, who process your transfer for a fee (also known as the ‘gas price’).
The miners/validators prioritize transactions from people who paid a higher gas price to send faster. Unfortunately this design has contributed to sometimes exorbitant gas fees as the value of ETH has gone up.
When a transaction is pending for a long time, it’s typically because you opted for the ‘cheap’ or ‘slow’ gas price when you initiated the send.
Sometimes, you’ll see a button that will allow you to ‘Speed Up’ the transfer within your wallet. If you select this, it will ask you to agree to pay an additional gas price. Doing this can accelerate the transfer, but it isn’t guaranteed.
Cryptocurrency network updates like Ethereum 2.0 are expected to go live in phases through late 2020 into 2021, and will address many of these issues…but they can’t happen fast enough!
Until then, when you really need to send your crypto and you can afford to do so, it can help to select the ‘faster’ transfer option and pay the higher gas price.
Q: When I tried to redeem my SEED, Etherscan said the transaction failed at first, but later it said it was successful. What happened? Has my Request for Help been activated?
A: What likely happened is that the first attempt to send your Seeds token via the Ethereum network failed because a ‘cheaper’ or ‘slower’ transmission fee was selected, but after the initial failure, the network automatically tried again, and a subsequent attempt was successful. If your transaction is indicated to be ‘Successful,’ your request is activated
Going with the cheaper transfer amount is often sufficient, but if it's ever necessary to guarantee that something is sent quickly, you can select 'faster' rather than ‘cheaper’ in the wallet from which you’re sending, which will make the transfer slightly more expensive and much more likely to be promptly fulfilled.
This method of charging fees for transmission (the ‘gas price’) is integral to the design of blockchain networks like Ethereum and Bitcoin. Essentially, you’re paying another member of the network, called a ‘miner,’ to send the cryptocurrency for you. Until a miner agrees to send the crypto for the amount you’ve offered to pay, the transmission will fail to send.
For more information regarding how Ethereum works, including an overview of gas prices, this comprehensive beginner’s guide can help.
Q: Why are you sending the gifts in cryptocurrency? What if I want my gift via bank transfer or Paypal?
A: It’s faster, often cheaper, and generally better to use cryptocurrency to send money around the world, which is a big part of why we advocate for it. If you want to transfer your cryptocurrency to a bank account or a Paypal account, Coinbase can facilitate this.
That said, we think banks and venture capitalists are inefficient and have treated people horribly, so we want to build a new system that takes better care of people - rendering institutionalized finance obsolete.
So we’re doing everything we can to help people experience crypto and its benefits, which is why we give gifts in SEEDS. While the following isn’t guaranteed, we’ve had recipients witness a gift go up nearly 30% beyond what they requested because their gift was sent in this manner.
Before your request is granted, we’ll support you in signing up on a platform like Coinbase, so that when the gift is sent you have options in place that allow you to spend the funds in your local fiat currency right away if need be, and/or to watch your crypto trade on the market if you choose.
If you’re unbanked, we want to make sure we can help in a way that is actually useful to you. Please email us at gifts@seedsgives.com to discuss other options if there are no crypto exchanges available in your area, and we’ll do our best to meet your needs.
Q: I need the Seeds Inc. EIN for tax purposes. What is it?
A: The EIN for Seeds Inc. (a Delaware C-Corp) is 46-2329632.
Q: What resources should I use to figure out my cryptocurrency taxes?
A: While it can certainly be annoying (particularly in the United States) the best thing to do would be to consult a tax professional you trust. We’re not tax professionals, and don’t want to steer you in the wrong direction.
That said, it may be helpful to search the Discord to see what tools other folks in the community have used, and/or to see what new responses you receive if you choose to post this question.