PRESS RELEASE. Charitable company MUNCH will lead a philanthropic effort called Charity Circle, which will donate to charitable global causes using ETH.
13th August 2021, London, UK — Leading DeFi charity platform MUNCH has announced ‘Charity Circle’ – a philanthropic effort led by Munch to encourage DeFi projects to donate to charitable causes through sending Ethereum to Munch’s smart contract, Charity Circle will trustlessly and automatically donate to the current charity selected by the Munch community.
MUNCH and Partnerships
MUNCH is a DeFi cryptocurrency that uses blockchain technology to build in giving back as an inherent part of every interaction. Through automated, trustless donations from transaction fees. MUNCH has already donated more than $3M to various community-chosen charitable causes. The project are official partners with TheGivingBlock and recently became the first crypto partner with charity: water, joining major corporations such as Google and Amazon.
Munch is now introducing ‘Charity Circle’ – a philanthropic effort led by Munch to encourage DeFi projects to donate to charitable causes through sending Ethereum to Munch’s smart contract, which will trustlessly and automatically donate to the current charity selected by the Munch community. All charity proceeds are tracked on the immutable blockchain and confirmed by charity partners (e.g. Givewell and Charity Water).
Since launching the Charity Circle, Munch has managed to sign up 7+ established crypto DeFi projects to join the philanthropic movement with more projects in the pipeline. The first announced partner is the BankEth token, which just made a $10,000 donation to charity: water through the MUNCH Charity Circle.
Crypto projects will be featured in a leaderboard, showing how much they contributed to the community-chosen causes with top contributors being invited to an AMA with MUNCH and charity partners.
Munch COO, Mike Si said of the announcement:
“We’re starting a new movement that encourages established and emerging players in the crypto space to give back and help others in a very simple way; it can be one-off donations, or a % automated from project fees and operations. Funds will be processed in a trustless manner through our on-chain contracts to support great causes, making MUNCH a hub for all crypto giving.
These initial partnerships are the start of a major step forward for the adoption of cryptocurrencies into more mainstream use.”
This initiative enables crypto projects to donate automatically and trustlessly to accredited and vetted charitable causes. By leveraging the technology and status of MUNCH, giving back can become part of any project. Donations will be routed to MUNCH charity partners at the time, chosen by its community from an approved short list. Currently, Munch is supporting charity: water, with over $150,000 in donations already received to fund 15 water projects.
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