Munch Token: From concept to $1,000,000 Donated to Charity in 14 Days
With the new meme coin craze driving up cryptocurrency markets, many new projects are looking to capitalize on new unique tokenomics to bring users into their ecosystems. Recently, a project has emerged that has taken the opportunity to engage with this community to create an entirely new way to give back, and they’ve already made an enormous contribution.
Cryptocurrency has offered enthusiasts a variety of ways to generate income and profit, but few have integrated a way for users to donate to a charitable cause without going out of their way. The Munch project has done this by integrating it directly into their code.
The Munch Token contract (ERC20, Contract Address: 0x944eee930933be5e23b690c8589021ec8619a301) has been audited by Solidity Finance and boasts a Dex Tools Score of 97. Liquidity has also been locked via Unicrypt. It’s tokenomics include:
- a 10% transaction fee
- a 5% fee to be distributed to token holders
- a 5% fee to charity (directly to the charity, the team doesn’t own the wallet)
Users who trade MUNCH will automatically donate funds directly to a wallet controlled by the charitable organization of the communities choice. For the first donation, the community has chosen GiveWell, an independent non-profit organization that finds the best ways to allocate funds donated for charitable causes.
On April 28th, 2021, MUNCH hit a milestone of $1,000,000 donated to GiveWell. In as little as 14 short days, a community was able to make an everlasting impact on countless lives. Part of its ability to swiftly engage with GiveWell is the way its system is designed.
When the wallet holding the donated funds reach a certain threshold, the MUNCH being sent to the address are turned into ETH. After this conversion, the ETH is sent to the charity directly. This ensures the funds are liquid and available for use at a moment’s notice.
Munch’s distribution schedule is as follows:
- Total supply: 100,000,000,000,000 (100 Trillion)
- 30% to burn during specific burn events (30 Trillion, Time-locked for 5% burned per week)
- 10% Dev team allocation with a range of ownership between 0.5% and 2% per person (10 Trillion)
- 5% presale with a max of 0.5% per person held across 10 accounts (5 Trillion)
- 5% Marketing budget (5 Trillion)
- 50% Pooled (50 Trillion)
Incorporating a trustless, organic, transparent, charitable ecosystem is a niche of crypto that has yet to be mastered. Some projects have tried to develop such an idea previously but many have failed to achieve the lofty goals they have set. Cryptocurrency users have a history of being extremely generous. Influencers like RookieXBT and Crypto Cobain have donated hundreds of thousands of dollars to causes of different kinds through more direct mediums requiring a third party mediator.
The potential to bring an ecosystem like MUNCH to the mainstream is vastly underestimated. As evidenced with other cryptocurrencies, mainstream adoption is on the forefront and bringing MUNCH to the masses could impact thousands upon thousands of lives in a variety of ways, with the click of a button.
With continued organic growth as its focus to spread the word about the project, the future is bright for MUNCH. Raising and donating $1,000,000 is a moment that will clearly go viral and draw more users, while earning more for the greater good. Find out more at https://munchtoken.com/ and read their white paper.
(I write articles, reviews, and Litepapers for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!)
Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create and informative and educated discussion regarding the project in question. Invest at your own risk.