Thanks @carlosjmelgar !
I shared some thoughts on why we intend to donate to GiveDirectly rather than funding on-chain public goods in a comment on the previous proposal thread. In particular, we do not focus on on-chain public goods because of GiveDirectly (a) its appeal to a non-crypto audience which allows for growing beyond crypto to ultimately grow the size of the ecosystem and (b) its capability to scale extremely well whilst retaining a very low overhead to deliver basic incomes earning it top scores from charity evaluators
Note that our donations to GiveDirectly will be transparent and on-chain. Our issuing partner Brale pays out all of our yield on-chain, and we donate to GiveDirectly on-chain too: Crypto addresses | GiveDirectly
Brale generates yield by investing in short-term US treasuries, rather than being active in DeFi. The approach is essentially identical to USDC / USDT, which power a huge chunk of DeFi and as a consequence their stability has become a public good themselves. Unfortunately, however, they’re managed as for profit entities that are incentivized to prioritize the profit of their shareholders, rather than the crypto ecosystem at large. That’s why we believe the ecosystem needs a centralized stablecoin that’s managed as a public good by a non-commercial entity.