At Daffy, the Donor-Advised Fund for You™, our mission is to help people be more generous, more often. When we launched Daffy, we were proud to be the first major donor-advised fund to launch with crypto portfolios as a standard option for members. As more and more wealth is invested in crypto, we believed it was critical to open up that wealth for charitable causes.
As it turns out, our hypothesis was correct. In just a little over two years, we have seen over $23 million in crypto contributions from thousands of donors on our platform. Daffy now accepts over 240 different types of crypto assets as charitable contributions.
Since our launch, our members have already set aside over $145,000 in Solana ($SOL) for charity. However, while our members previously had the option to contribute Solana to their funds, our investment portfolios did not feature an option for Solana… until now.
Today, we are pleased to announce that Daffy is now the first nationwide donor-advised fund to offer our members the ability to invest their charitable funds in Solana.
Why Offer Crypto Portfolios with Solana?
At Daffy, we want to meet the needs of a variety of donors, so we aim to offer a diverse set of portfolios, ranging from conservative portfolios of cash or bonds to low-cost index funds, ESG-rated investment portfolios, and modern crypto portfolios. This allows our members to find the right portfolio based on their philanthropic goals and timeline.
Daffy members who have selected one of our four crypto portfolios have seen significant gains in the past year. In fact, over the past two years, our members' investment portfolios have grown, in the aggregate, by over $70 million. All these gains translate to more funds available for charity.
Like many new crypto networks, Solana has had its share of ups and downs. However, it has been hard to ignore the success of the network, and the price of Solana has reflected that success in 2024. As of December 9th, 2024, Solana is up more than 180% over the past 12 months, with a market capitalization of over $100B.
As more and more people develop, support, and participate in the Solana ecosystem, is it really surprising that these same people would want to see some of the gains in value set aside for charity?
New Crypto Portfolios featuring Solana ✨
As part of our continued aim to bring helpful and innovative features to our members, we are thrilled to offer two native crypto portfolios for members looking to see their charitable dollars invested in Solana.
These portfolios are hosted through Coinbase, and like Daffy’s other native crypto portfolios, have no additional asset management fees tied to them:
- Crypto - Solana: A focused portfolio invested directly in Solana ($SOL).
- Crypto - Blended: A diversified portfolio invested directly in a mix of 60% Bitcoin ($BTC), 30% Ethereum ($ETH), and 10% Solana ($SOL).
Daffy members can now select from 16 pre-approved tax-free portfolios when setting up their donor-advised funds, with six of them featuring crypto, either via ETF or invested directly in crypto.
Support Over 1.7 Million Charities with Solana
By some estimates, there are over 1.7 million legal charities in the United States alone. Unfortunately, most of them lack the technical capability and staffing to accept crypto donations. Fortunately, when you use Daffy, your charitable contributions can go to almost any legal charity in the country. Daffy handles the complexities of accepting and investing in crypto like Solana so that charities can focus on their mission and operations.
2024 has been an amazing year for Solana, and now is the perfect time to consider putting aside some of those gains for charity. Donating crypto has incredible tax advantages. When you donate crypto that you have held for more than one year, you can get a charitable deduction off your taxes for the current market value of the crypto. In addition, you never have to pay the capital gains taxes that you’d normally owe if you sold.
Check out our free calculator to estimate the potential savings of donating Solana vs. cash.
As part of the 2024 Daffy Gains For Good Challenge, if you donate Solana before December 17th, you are eligible to win a grand prize of $5,000 for charity. If that isn’t enough, at the time this is being written, Solana is #5 on the crypto generosity leaderboard… let’s make it #1!
So if your excuse for not putting some Solana aside for charity this year was a desire to see your charitable funds invested in Solana, well, the problem is solved.
Join us.