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Algorand Commits $15 million USD over 5 years to Climate Ride

Algorand Foundation is a non-profit that’s affiliated with Algorand (a carbon-negative cryptocurrency) and Climate Ride (a non-profit that mobilizes people to save the planet by empowering them to do so through life-changing experiences), today announced launching a 5-year program to encourage community-driven environmental sustainability and health. Algorand Foundation has committed $15M in five-year increments by contributing $500K each year to expand the program and matching funds up to $2.5M per annum raised by Climate Ride participants. The match is open to all donations, and will take place immediately.

This support will enable Climate Ride to expand event offerings, including the Green Fondo series – community cycling events styled after Gran Fondo rides – to other major cities. With the donation matching, Climate Ride will be able to double the contributions that everyday donors make to people who participate in Climate Ride’s biking, running and hiking events – building on the millions it has donated to support conservation, climate, environmental justice, sustainability and active transportation efforts.

“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,” recalls Algorand Foundation CEO and three-time Climate Rider Staci Warden. Algorand Foundation is thrilled to play a part in the extraordinary (and sometimes fierce!) efforts to raise millions of dollars annually for climate-related causes over the last twelve years. a community of people who are willing to join the fight for the preservation of our planet’s environment.

Algorand stands out among all blockchains because it uses a pure proof-of stake protocol that consumes far less energy than their proof-of work counterparts. Algorand’s determination to maintain a low carbon footprint is in contrast with other blockchains’ environmental impacts. These negative effects have been documented. Algorand is also unique for its governance structure, which allows community members who hold ALGO – the cryptocurrency associated with the blockchain – to vote on changes made to the protocol.

Climate Ride’s founder Caeli Quinn stated that today, environmental charities receive only 3.3% of the total philanthropy. However, matching grants, such as the Algorand Foundation, have led to an increase of 80% in Climate Ride donations. We are optimistic that Climate Ride will expand awareness of environmental charity and inspire more people to be active in helping their communities heal and preserve our planet.

For more information, please visit: https://www.climateride.org

This support will enable Climate Ride to expand event offerings, including the Green Fondo series