Out of all the industries, sectors, regions, areas, and whatever you want to call it, that the crypto industry has connected with, there is no more noble one than charities. Helping those who were wronged by this world, intentionally or by accident, is a noble cause, and something that the crypto industry has accepted and recognized a long time ago.
So far, the crypto sector has helped the victims of many tragedies, sometimes by simply donating to existing charities, and sometimes by starting them on its own. One example that comes to mind is Binance’s Charity Campaign that emerged back in late March 2020, as COVID-19 first started spreading across the globe, and countries like China and Italy were most severely hit.
However, this is only a single example, and to be perfectly honest, the crypto sector has a much greater potential to help out. This is something that the project behind the MUNCH token realized, and is aiming to make the world a better place by inviting crypto users to help those who can’t help themselves.
What is MUNCH About?
According to MUNCH, Visa generated $6.3 billion from transaction fees in 2020 alone. At the same time, the global pandemic was breaking the world, and pretty much every humanitarian crisis got accelerated because of it. This shows two things — first, that there are massive amounts of money to be made by conducting transactions, and second, that there are a lot of people who could use that money a lot more than greedy corporations.
Unfortunately, the corporations are not willing to share, which is where the crypto sector comes in. By using cryptography and blockchain technology, people have become capable of decentralizing their financial power. In other words, they now get to choose how the accumulated wealth is being distributed, and MUNCH turned its own transaction fees into contributions to charitable causes.
The project is fully decentralized, transparent, and community driven. It allows users to conduct transactions and contribute their transaction fees to charities, and not just any random charity — it allows users to support causes that need it the most. The fees are 10% of the transaction, which is rather expensive. However, at least users will now know that their money is taken for a good cause, instead of filling out the bankers’ pockets which are already brimming with money.
Users can also earn passive income with 5% of each transaction that will be distributed to holders, while another 5% goes to charities. That way, the project will ensure that its token will maintain value due to holders and usage, and at the same time, help those who need it most.. Meanwhile, the process is very easy and fully automated, and the funds are never held in a company wallet. The causes that will be supported are chosen by the community itself, and all donations are immediately and automatically converted to Ethereum.
The project revealed that a Binance bridge will be launched on Tuesday 8th of June. Meanwhile, the MUNCH token is available for trading on BSC’s PancakeSwap decentralized exchange.
Lastly, there is also an interesting collaboration that we learned of, between MUNCH and a music artist called droop-E — the son of a rap music mogul E40. As part of the partnership, MUNCH will be featured in the artist’s futuristic album, known as 4005. The album will allegedly roll out on 17th of June, 2021. Currently, the partners are also talking about potentially creating a NFT-based charity collaboration.
MUNCH is a new kind of DeFi token that still continues the spirit of decentralized finance, and even goes a step further. Since DeFi was meant to help those in need — unbanked and underbanked — by granting them access to global finance, MUNCH is only going a bit further than that, by also helping those in need by helping them survive. Many of these people do not have anything, whether due to crashing economies, natural catastrophes, disease, war, or some other reason, and MUNCH aims to make sure that these individuals will be granted their basic human rights, including food, water, shelter, security, and alike.