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MUNCH Project Reaches $1 Million Milestone in Charitable Donations – Press release Bitcoin News

PRESS RELEASE. DeFi project Munch has raised over $1 million USD in two weeks, to aid community-chosen global causes in developing nations, through non-profit organization GiveWell.

May 7th, 2021, London, UKMUNCH is a Decentralized Finance (DeFi) project which has raised over $1 million USD, in ETH, in just 14 days since its launch. This represents a huge achievement from the MUNCH community and a tremendous boost to the efforts of the GiveWell team.

100% of Fees Go To Charity and Holders

The Munch project applies a 10% transaction fee to every buy and sell made. This transaction fee is then split in two, with half redistributed to other holders of the token and half converted to Ethereum (ETH) which is then automatically donated to charity.

Rodrigo Silva, CEO at MUNCH voiced his strong appreciation to the community for its generosity, stating:

“We’ve been utterly blown away by the reaction from the community. It proves that people want their financial systems and services to work for everyone. It’s shown us that things can be done differently, and that every individual can have an impact.”

Supporting the GiveWell Mission

As part of the community-led aspect of the project, the community voted to allocate the funds to the Maximum Impact Fund from a selection of projects provided by GiveWell.

The funds donated by MUNCH will be used by GiveWell to provide grants to the highest-value funding opportunities among recommended charities, helping prevent potentially deadly diseases and improving people’s well-being.

GiveWell CEO, Elie Hassenfeld showed her gratitude to those supporting the charity, stating:

“We’ve been surprised and delighted by the support from the community and team at Munch. These donations will accomplish a tremendous amount of good.”

A Community-driven Project

The MUNCH project will also allow the community to select the charity of their choice, which ultimately will be where the next round of donation funds will be allocated. The MUNCH project is currently evaluating and running background checks on a shortlist of options that the community will choose from.

Mr Silva stated:

“If we continue to grow at this rate, we will be donating millions per month. ‘’I knew that the people investing in new DeFi projects would be willing to have a ‘bite’ taken by the fee. The token may fluctuate, but across every transaction, money is going to help people. By automating everything, we made giving back a standard part of the transaction.’’

MUNCH Packs a Bite

MUNCH is a DeFI project, started by Rodrigo Silva after he identified a critical flaw in other cryptocurrency projects with a donation model. Rather than collecting donations in the native token, MUNCH routes the percentage to be donated in another, more stable token (such as ETH). This means when there is a major donation amount, it doesn’t destabilize the native token or let the donation lose value through slippage.

About Munch

MUNCH enables investors to divert and distribute part of their investment to causes that need it. Because of the immutable nature of the blockchain, every transaction can be tracked and verified to ensure that it is received in full by the charity.

Rodrigo is joined by a team of 8 others based in Europe that bring a wealth of technological, business, and cryptocurrency experience to help manage and develop the project.

Anyone interested in earning passive income, whilst becoming a part of a community that uses its transaction fees to help important global causes can do so by buying MUNCH on Uniswap exchange.

To learn more about Munch, please visithttps://munchtoken.com/

To learn more about Givewellhttps://www.givewell.org/

See the Donation progress via the Munch Trackerhttps://charity.munchtoken.com/

To read the Munch whitepaperhttps://munchtoken.com/docs/munch-whitepaper.pdf

Follow Munch of Twitterhttps://twitter.com/munchtoken

Join the official Telegram https://t.me/munchtokencom

Buy MUNCH on Uniswaphttps://app.uniswap.org/#/swap?inputCurrency

 

Media Contact Details

Contact Name: Bitcoin PR Buzz Press Team

Contact Email: [email protected]

 

Munch is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

 

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Image Credits: Shutterstock, Pixabay, Wiki Commons


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