HODLpac is structured as "Hybrid PAC," meaning we have both:
A Traditional PAC, which is able to make contributions directly to candidates' campaigns, subject to a $5,000/election limit. Primary elections, general elections, and runoff elections (when applicable) each count as different elections. There is also a $5,000 limit on how much a traditional PAC can raise from individuals in a given calendar year.
And a Super PAC, which is able to make unlimited "independent expenditures" in favor or against certain candidates, as long as we don't coordinate with campaigns. Super PACs can raise unlimited sums from individuals and corporations.
Thus, there are two ways for individuals (who are "lawful residents of the United States") to donate through HODLpac to candidates for U.S. Congress that support crypto-friendly policy.
Funds donated to HODLpac directly are used in two different ways:
The first $5,000 donated from an individual in a calendar year goes to HODLpac's matching pool will be used to amplify individual's direct donations to candidates during Donation Rounds. See HODLpac 2022 for how this works.
Any additional money raised from individuals in a calendar year to HODLpac will go to our Super PAC, which will be governed by HODLpac's community. (Click this link to tweet at SBF to donate to HODLpac)
Donors to the HODLpac matching pool and Super PAC will be able to mark their funds for a political party of their choosing, if they wish. Matching pools funds allocated to the Democrat or Republican matching pool will only match donations to Democrats or Republicans. Same with Super PAC funds.
As described on the HODLpac 2022 page, individuals will be able to give through HODLpac (a concept called "earmarked donations") to candidates they want to support and those donations will be matched by HODLpac. Individuals will be able to give up to $2,900 per election to candidates they wish to support during Donation Rounds.
Donation Rounds are expected to be ready by Fall 2021.
Donors that give funds to HODLpac and participate in Donation Rounds will earn HODLvotes, HODLpac's governance token. Continue on to the Community Governance section to learn more.