Last updated on July 5, 2022
The rapid expansion of the crypto space has fueled a drive to give back to the community. Today, there are multiple projects that seek to do real good above and beyond just servicing their users. These projects have evolved from fun-filled meme tokens, all the way to charitable DeFi platforms.
Crypto Philanthropy is on the Rise
Reports continue to show that crypto philanthropy is on the rise. There are many differ reasons why crypto traders are so generous. Some believe the increase in donations is a result of the increase in the value of these digital assets. People want to give back for their good fortune.
Others have pointed to the fact that early crypto traders are now wealthier than ever. These traders see multiple reasons to make crypto donations. For one, it’s great karma. Secondly, it helps to legitimize the entire market. It’s hard to argue that crypto wealth isn’t real when it’s doing tangible and demonstrable good in the world. Today, cryptocurrency donors are becoming a bigger demographic for nonprofits and the world is taking notice. Here are just a few crypto projects to restore your faith in humanity.
Traditional Charities Start to See Major Crypto Funding
There are a couple of different ways that cryptocurrencies have been changing the donation sector. Firstly, there has been a significant influx in the number of crypto donations made to charitable firms. The popular group, GiveDirectly reported a 60x increase in the amount of crypto donations they received between 2020 and 2021.
This trend has continued into 2022 with this year on pace to beat the previous growth. There are now more firms accepting crypto donations and the emergence of crypto based charitable organizations have driven totals higher. Now, the crypto philanthropy section is to large to ignore as real good is being down with these funds.
Another traditional charitable group is Fidelity Charitable. This non-profit grant-making organization started accepting crypto damnation in 2021. The firm received over $274 million in donations that year. These donations helped the organization to help thousands of organizations geared at improving the lives of those in need.
At this point it’s vital to mention that there are some serious tax benefits you can obtain by donation your crypto. For example, cryptocurrency is treated like real estate in terms of charitable donation. This strategy means that donors can receive a tax deduction for the fair market value of cryptocurrency assets.
More importantly, you can avoid capital gains taxes on your digital assets when you donate them to charitable organizations. For large scale investors, this approach makes more sense than sending off their hard earned funds to politicians. Notably, crypto donation protocols provide a more streamlined and secure way to share with the needy.
Crypto Only Charitable Groups
Another major development in the market is the emergence of crypto-based donation groups. These organizations were built from the ground up to support crypto donations from the public. They are secure, efficient, and provide more transparency than their centralized counterparts.
Giving Block is a prime example of a blockchain-based donations firm. The cryptocurrency donation platform has seen considerable growth since its launch in 2021. The firm now has over 1200 clients. It secured +$100 million in funding from generous crypto holders in 2021. The Giving Block is set to introduce a host of unique features to drive adoption in 2022.
The network will now offer special donation packages specifically tailored to high net worth donators. These packages enable users to make on large donation that can be spread across multiple causes. Additionally, the upgrade will now support anonymous donations which is a huge plus for those seeking to donate without attracting unwanted attention to their wealth.
SafeLife is a Ukraine-based military charity that continues to make headlines for their efforts during the Ukrainian conflict. The protocol made the advantageous maneuver of accepting Bitcoin when the conflict began. In less than 30 days, the charity had secured over $30 million in donations.
The donations were so overwhelming that the government moved to make Bitcoin legal tender. This decision bolstered the price of the world’s first cryptocurrency and enabled regular Ukrainians to utilize Bitcoin to pay for much needed supplies in the warzone. Cryptocurrencies like Bitcoin are ideally suited for harsh environment because they only require a data connection to operate. This connection can be provided by satellites or other low cost methods compared to introducing infrastructure or protecting existing components during a war.
Dogecoin is a first-generation cryptocurrency that entered service on December 6, 2013. The project originated as a joke, with developers simply altering some bits of Bitcoin’s coding as part of its development. Consequently, Dogecoin shares many technical aspects with Bitcoin. Users can easily transfer value via peer-to-peer transactions in a censorship-resistant manner using the coin.
This lighthearted version of a cryptocurrency captured a niche market upon its release. People enjoyed the good nature and overall humorous approach to the concept. It was this goodwill that helped Dogecoin garner a large following of kind-hearted users. Today, Dogecoin has an impressive history of helping the less fortunate around the world. It’s this spirit of goodwill that continually makes this coin a popular project.
The quick success of the project led developers to start venturing into charitable causes. The project’s followers sponsored a clean water initiative in Kenya with great success. Following this charitable drive, the network helped train assistance dogs for autistic children. There was even an incident when the network’s wallet was hacked and the community pooled funds to refund all the users affected. Few projects have such a vibrant history of helping out.
MUNCH is a next-generation DeFi ecosystem that wants to eliminate poverty one transaction at a time. The protocol introduces a 10% flat fee on all transactions. This fee is then split in half. The first half goes towards rewards for token holders and the second half is automatically sent to a charity picked by the community.
Since the charitable aspects of the network are built into the core programming, the entire platform represents a new age in blockchain goodwill. The charitable pool’s destination is decided by token holders via a monthly vote. The platform has already approved Hunger Relief, COVID-19 charities, and an international human rights group.
The unique strategy of MUNCH enables it to provide charitable services with more transparency and efficiency. Notably, the platform recently donated 10 ETH to the Yellow Brick Road Project. The Yellow Brick Road project is a charitable foundation whose mission is to fund research to identify, understand, treat, and ultimately cure those impacted by HNRNPH2 mutations.
FireFly is a blockchain-based donations ecosystem. This all inclusive DeFi protocol integrates a cryptocurrency exchange, customizable NFT marketplace, multiple tokens, and much more to create a powerful tool for bettering the world. The goal of the project is to revitalizing the planet’s most important but forgotten species – the pollinators.
The project creates special habitats for fireflies, bees, butterflies, and many of the other pollinators in need. These pollination gardens are to be set up in every community to help spur health among these species. As part of this approach, the network enables users to create and trade rare NFTs.
FireFly has secured some celebrity support with a variety of big names supporting the project. The network introduces a unique strategy of taking 20% of every transaction and sending it to charity. The remaining balance goes towards marketing, expenses, and reflections of BUSD to current holders. Notably, FireFly leverages the Binance Smart Chain which makes it incredibly scalable.
WenLambo is another next-gen DeFi platform with a charitable twist. The network incorporates a deflationary cryptocurrency, NFT marketplace, and more. Impressively, WenLambo donates 33% of fees to charity. These fees are a percentage of the network’s 10% fee structure. Notably, the other portion of fees gets divided between a deflationary protocol and airdrops.
WenLambo is unique in that it is geared heavily towards content creators. The network incorporates NFTs (non-fungible tokens) to provide a new level of security and higher ROIs to creators. There are features designed to let influencers, artists, musicians, and athletes better connect with fans.
Notably, WenLambo was one of the first charitable DeFi networks to launch on the Binance Smart Chain (BSC). The Binance Smart Chain is an advanced blockchain designed to support all the latest DeFi features. Additionally, the BSC provides low fees and more scalability when compared to Ethereum.
Safe the Humanity
Safe the Humanity is another BSC-based project that automatically takes a percentage of fees and redirects them to charitable organizations. Unlike some of the competition, STH has a 4% fee that gets divided among the network’s various mechanisms. One percent of the fees get redistributed to all token holders as rewards.
STH token holders can put forth new charitable organizations via the community governance system. The more tokens you hold, the more weight your vote carries. Notably, when a charitable organization receives approval, it gets added to a smart contract. This smart contract handles the disbursement of funds automatically. This strategy removes human intervention from the equation and provides a more transparent donation process to the sector.
Another cool feature of Save the Humanity is its community rewards. Unlike the competition, token rewards are sent to users directly. You don’t need to lock your tokens up in staking pools to earn rewards. This strategy eliminates the technical boundaries associated with staking processes and provides the STH community with access to a passive income stream.
The META1 Coin project seeks to provide the word with widespread decentralized access to wealth. The platform leverages a new economy called METANOMIC’s to accomplish this task. As part of this strategy developer’s introduced a multi-asset gold-backed token coupled with a complete DeFi ecosystem. The META 1 stablecoin enables savers to avoid the crushing inflation currently plaguing the fiat markets.
The META 1 stablecoin operates as the first self appreciating gold-backed project to take flight in the DeFi sector. The token’s developers realized that by leveraging a basket of gold related assets they could better fight volatility in the market. Additionally, the use of gold related assets frees the token from fiat monetary policies. These policies such as the constant printing of new currency have led to a rise in inflation and the cost of living.
META1 combines a powerful DEX (decentralized exchange), DeFi banking services, a crypto debit card and much more to empower users in new ways. Anyone can secure a passive income simply by utilizing the network. The protocol streamlines the onboarding process via the Onramper portal. This system enables you to convert +50 fiat currencies to META 1 coins directly. This approach saves you time and fees associated with using centralized exchanges.
Transparency is Crucial
Additionally, the developers went to great lengths to provide full transparency. One of the coolest features of META1 is its no-loss trading smart contract. This unique piece of protocol blocks token holders from selling their coins for under-asset value. This strategy enables the META1 Coin to operate without risk of major pump and dump schemes. In this way, META1 succeeds in its mission is to provide abundance and equity to everyday people.
Crypto Gives Back in a Major Way
There is a lot of goodwill coming from the blockchain sector as of late. These platforms are just a few of the pioneering efforts that seek to create a monetary system that is juster and better for all. Each of these platforms exemplifies the best characteristics of the crypto community. Hopefully, in the coming weeks, more platforms will take inspiration from these projects and introduce new ways to better humanity. For now, you can invest in crypto and mankind using these popular networks.