Miami, the predicted Silicon Valley of crypto, just received a huge flock of digital currency enthusiasts throwing buzzwords around like wildfire during Bitcoin’s largest cryptocurrency conference. The nearly $30,000 dip felt during April to May obviously didn’t dampen anybody’s spirit, even after Elon Musk did a 180 degree turn.
With more and more institutional investors dipping their toes in cryptocurrency, we are headed for its mainstream acceptance which will bring significant changes in how we do day to day transactions. This is a big win for people who need low-cost money transfers and for those needing access to more financial services.
But is that all there is to crypto? While the billionaires make themselves richer and the average investor scouts for the next viable deal, is it their business to look at the bigger picture and be socially responsible in the midst of this crypto frenzy?
MUNCH, the fastest-growing charity DeFi community project launched in April this year, literally made social responsibility their business. Within the first month, they managed to donate an astounding $2.7 million to charity. And that’s only the beginning for MUNCH as their innovation and global cause separate them from other charitable cryptocurrencies. Here’s why:
1. The first trustless model charity token.
MUNCH is the first DeFi and Ethereum-based token to develop trustless donations to charity. Their sustainable business model paved the way for an even bigger giveback community as more and more digital coins are inspired to take the same path.
MUNCH was designed to resist the donor efficacy paradox, the common hesitance that a small donation will not have much of an effect that it doesn’t seem worthwhile to donate, by having an automated transaction process.
2. Cool work culture.
MUNCH doesn’t position itself as a meme token nor a massive corporate level project. This branding eliminates intimidation and appeals to investors from all walks of life. It cultivates a sense of community spirit that shares one goal – to distribute wealth where it needs to be.
MUNCH holds community contests and stakes rewards, NFTs, and giveaways. This is in addition to its automated $MUNCH Millions Lottery where the holders are entered automatically. The draw takes place every Tuesday and Friday.
3. Investors can vote for charities.
MUNCH’s charitable efforts impact both investors and the community-chosen charities in a way that relationship and responsibility are formed at the beginning of the cause selection process. It begins when people pitch charities and a team immediately connects with these charities via zoom meetings. It is important for MUNCH and its investors to know what exactly the donation is going to cause and to have tangible objectives, as opposed to merely funding a charity but not really seeing actual results.
After thorough interviews and research, the MUNCH team and token holders decide which carefully vetted charity the donated fees will go to by voting. This is part of the contract design that allows everyone in the community to make informed decisions and have a say in the future direction of MUNCH.
4. Unique Tokenomics.
For every MUNCH transaction, 5% is automatically sent to charity, and another 5% is distributed to holders for passive income. Perhaps the biggest differentiator of MUNCH among other cryptocurrencies is that all fees are collected and converted to ETH at the point of transaction, and donations are performed at the contract level, without the interaction of MUNCH.
MUNCH does not need a team-owned wallet and liquidity reinjection, which are known flawed ways to donate with a charity token. This process allows investors to be more flexible and do trustless donations. It is MUNCH’s primary objective to provide a more secure donation network where users can track their funds to their destination, thanks to the network’s blockchain tracking tools.
5. Ingenious roadmap.
Barely two months in the crypto world yet MUNCH has already achieved great things and donated millions, they never seem to run out of fresh and innovative ideas to further their goal of distributing wealth as simple and secure as possible.
MUNCH is already working on a charity launchpad as a social fundraising platform where users can proactively select a charity to donate to without MUNCH’s intervention, and donate their passive rewards to charity without having to go through an extra step. The launchpad will also be a convenient platform for project makers to raise funds for, and hopefully support early entrepreneurs.
A hodler’s dashboard is also being finalized as a convenient place where users will be able to connect their wallets. The dashboard will allow holders to track their buys and sells and more elaborate stuff such as the amount of passive rewards earned and the amount they have donated so far.
MUNCH envisions building and expanding an ecosystem that includes people being able to know, engage, and exchange NFT artwork. They’re also looking to branch out and develop the Munch Lifestyle and some other merchandise marketing.
Now available is MUNCH’s Binance bridge, realizing MUNCH’s objective to be the first charity token to be cross-chain. This is where people can just select the amount of tokens they want to swap on the Binance side, and then easily switch to Binance to receive those tokens.
The Yellow Brick Road Project is this month’s MUNCH’s charity, started by families affected by a rare mutation in the HNRNPH2 gene. This mutation leads to developmental delay, intellectual disability, hypotonia, and seizures, among other characteristics. As of writing, a total amount of 77.57 ETH, have been donated since May 23rd. That’s $200,892 in 18 days. The contributions from the MUNCH community will hopefully go a long way to helping this team not just help people affected but actually eradicate this genetic mutation.
And with MUNCH now available on PancakeSwap, we expect to see more and more charities accepting crypto donations, and more institutional investors participating in global causes. This is in the hopes that also more digital currencies that are as innovative, transparent, charitable, and impactful as MUNCH emerge in the near future to make an impossible global wealth equality possible.