The cryptocurrency trading revolution exploded more than ten years ago and led to an almost unprecedented economic and financial earthquake. As a result, people are learning to change their approach to payment and investment systems, pushing up the price of many cryptocurrencies. Such a rapid change has not gone unnoticed on the boards of the world's major central banks. In fact, in an increasing number of countries, central banks are working on launching centralized digital currencies, known as CBDC. This…
MUNCH is a DeFi ecosystem that seeks to take a bite out of the world’s woes, one transaction at a time. The network combines a unique fee structure and voting mechanism to redistribute funds between the community and approved charitable organizations. The concept allows users to participate in goodwill campaigns and the decentralized economy simply by conducting normal transactions.
To put the donation generating potential of this strategy into perspective, one needs to look at popular payment processors like MasterCard and VISA. Notably, Visa generates approximately $6.3 billion from transaction fees from its global network yearly. Now, try and imagine how much good these fees would do if they were diverted to a good cause. Notably, the MUNCH network donated 2 million + to Givewell Charity in a month.
As part of the MUNCH Goodwill campaign, every transaction carries a 10% fee. This fee is split in half, with 5% of each transaction automatically sent to a charity picked by the community. This charity is voted on by MUNCH token holders every month. Additionally, all charitable foundations are carefully vetted by MUNCH before the network integrates them into the system. The remaining 5% is redistributed to MUNCH token holders.
A Better Approach
MUNCH’s unique strategy has the potential to make a difference for the better. The network has already begun helping those in need, and the results have been impressive. Currently, the network is supporting the Yellow Brick Road Project. This organization is a charitable foundation whose mission is to fund research to identify, understand, treat, and ultimately cure those impacted by HNRNPH2 mutations. Impressively, the MUNCH has already secured 11 ETH in donations for the campaign.
What Problems Does MUNCH Fix?
There are a couple of critical issues that MUNCH helps to eliminate in the donation sector. For one, MUNCH provides a trustless, automated, stable alternative to the status quo. The network removes human intervention from the equation.
As part of this strategy, a specially programmed smart contract converts MUNCH to ETH at the transaction point. These funds are then sent directly to the charity address when they reach a certain threshold. In this way, no funds marked for donations are ever stored in a MUNCH wallet. Consequently, the protocol operates as a one-way funnel that channels these funds to where they are needed most, the charities seeking to improve the lives of those around us.
MUNCH leverages an advanced tokenomics strategy to ensure the sustainability of the platform. The network integrates a deflationary protocol with various other proprietary strategies to ensure that the network’s donations never crash the token value.
The developers behind the MUNCH protocol have taken great care to help develop investor confidence. The network recently extended its liquidity on Uniswap using Unicrypt as part of this strategy. This maneuver demonstrates to investors the long-term goals of the project. Additionally, the developers limited personal ownership of tokens to 2%. The core is also limited to 10% ownership. This strategy reduces whale manipulation.
Another primary objective of the MUNCH project is to provide a more secure donation network. Unlike centralized donations, users can track their funds to their destination. All payments are readily available via the network’s blockchain tracking tools. In this way, MUNCH can provide an automated and trustless charitable option to users.
Benefits of MUNCH
MUNCH provides users with a host of benefits that make it unique in the market. For one, the platform is among the first DeFi platforms to integrate a charitable aspect. The network has already partnered with a variety of well-known foundations. Currently, the network lists Givewell Charity, Yellow Brick Road, and the India Covid Relief Fund.
As MUNCH expands, so will its network of charitable organizations. As part of this plan, the platform intends to help traditional non-crypto ready charities accept crypto.
Earn Passive Rewards
Aside from the good karma you earn from participating in MUNCH; you can also secure some healthy ROIs. The network takes 5% of the total transaction fees and distributes them to MUNCH token holders. This protocol is similar to staking, but you don’t need to lock your tokens up. You need to hold MUNCH on a network wallet to qualify for these rewards.
The network also offers a feature for those seeking a little more excitement and fun. The Munch Billion Lottery is a bi-weekly event held on Tuesdays and Fridays. Lottery winners can gain various prizes, including MUNCH tokens, NFT drops, and other fun giveaways.
MUNCH has integrated a deflationary mechanism into its ecosystem. Deflationary protocols allow developers and DeFi communities better to control the value of a project’s tokens. They accomplish this task by removing coins from circulation. Notably, the MUNCH burn wallet holds 12 trillion tokens at this time. The wallet will increase to 15 trillion in the coming weeks.
The burn wallet also will receive tokens in distribution from all transactions. Interestingly, the token burn percentage was reduced after multiple community discussions. Originally, 30% of the tokens were earmarked for burns. The goal of this protocol is to create a sustained deflationary effect.
How Does MUNCH Work?
MUNCH users enjoy all the security and benefits of the Ethereum ecosystem. The protocol lives and operates on top of the Ethereum blockchain. As an ERC-20 compliant network, users gain access to more wallets, DEXs, games, and more. Currently, Ethereum is the most popular DeFi blockchain in the world.
Starting in June, MUNCH will be available on the Binance Smart Chain via the Binance Bridge protocol. This addition would open MUNCH users to an entirely new blockchain ecosystem. MUNCH will now be available on BEP-based exchanges such as PancakeSwap.
The MUNCH token is how users interact with MUNCH features. This ERC-20 token can function as a cryptocurrency and more. Users enjoy fast transaction times using MUNCH. The token is currently available on Uniswap. There is a capped supply of 100 trillion MUNCH to be issued over the life of the project. Currently, the network lists +7722 active MUNCH holders. Additionally, there is no mint function, so the coin has constant deflationary pressure.
More Features Coming
MUNCH’s developers intend to expand the network’s capabilities in the coming weeks via the Launchpad feature. The LAunchpad functions as a crowdfunding platform geared at various social and charitable causes. This same technology can also be used to fund start-ups and other projects as well. As these new features are introduced to the network, they will add more usability and value to the MUNCH token.
MUNCH token holders gain voting rights within the network. These rights allow users to submit proposals to direct the development of the platform. Proposals can cover technical aspects like changes to the platform’s features or financial alterations, such as changing the fee structure. Also, voting is primarily used by the community to submit charities for review.
Do Your Part and Earn – MUNCH
MUNCH demonstrates the overall good nature of the blockchain sector. The decentralized economy has always been about helping the most people as possible overcome financial restrictions. MUNCH approaches this goal in a unique way that is sure to spark interest in the market. You can join MUNCH to make an impact here.
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