Last updated on July 5, 2022
The rapid expansion of the crypto space has fueled a drive to give back to the community. Today, multiple projects 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.
The list of crypto millionaires continues to expand. Users are securing real wealth using this technology and now they feel compelled to give back. As you are about to learn, the urge to do more has always been a part of the crypto sector. Since day one, when Bitcoin entered service, the crypto market has been about making the world a better place.
All too often, the media focuses on the wealth-producing aspects of trading crypto. They often miss all the other ways in which blockchain technology communities have improved life for people globally. Here are just a few crypto projects to restore your faith in humanity.
Dogecoin
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. The developers went through Bitcoin programming changed the word Bitcoin to Dogecoin. They also changed the term miners to diggers.
Notably, Dogecoin copies a lot of Bitcoin’s code but not everything. The developers made some specific changes to the protocol to avoid some of the scalability and centralization issues that Bitcoin suffered from at the time. Specifically, they decided to do away with the SHA-256 mining algorithm. Instead, they went with a variation that prevented Bitcoin ASIC miners from joining the network.
The goal behind this maneuver was to prevent mining centralization on the new network. ASIC (Application Specific Integrated Circuit Miners) are thousands of times more efficient and powerful than your PC or even GPU miners.
These expensive mining rigs led to heavy centralization in the Bitcoin market. Dogecoin required users to use separate mining rigs to prevent these issues. The concept worked for years. However, today, there are ASIC miners dedicated to mining this popular currency.
Shared Aspects
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. You can use a blockchain explorer to monitor the network in real-time. It also shares the same wallet structure as Bitcoin. Your private keys are the only way to access your crypto.
It’s OK to Laugh
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 also ushered in the Meme coin craze. Meme coins are tokens that integrate popular social cues to gain traction. In the case of Dogecoin, the developers used the Shiba Inu meme that was hugely popular at the time.
The project was built originally to entertain a group of Redditors. They felt that Bitcoiners were getting too hardline and serious. They wanted to show that it’s not that serious. The Reddit group got a hardy laugh from the project. Of course, no one was aware that Dogecoin was set to make a monumental jump in terms of usage and adoption.
It’s All About the Good Will
The network’s goodwill helped Dogecoin garner a large following of kind-hearted users. The quick success of the project led developers to start venturing into charitable causes. 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 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
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. A community DAO (decentralized autonomous organization) is used to ensure full transparency during these votes. The system leverages a weighted voting protocol.
Users who stake more MUNCH tokens gain more voting rights. This strategy is common in DeFi communities. It brings the advantage of ensuring that all voters are economically tied to the outcome of their proposals. Those with the most to lose have the most say in this structure. Notably, 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.
The MUNCH concept is revolutionizing charity in many ways. For one, it helped to inspire other automatic charity protocols in the market. Every time one of these systems enters service, it represents more goodwill for mankind. As such, the next thing that could happen is a slew of copycat protocols.
WenLambo
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.
This approach is ideal as the deflationary protocols help to ensure their donations retain value. It’s a major bummer when you donate crypto to a worthy cause and then its value drops suddenly. Deflationary protocols help to keep token values high, even when the market takes a downturn. Best of all, WenLambo puts these actions to a vote so the community has the final say.
WenLambo is unique in that it is geared heavily toward 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 connect with fans.
NFTs are one of the fastest-growing technologies in the blockchain market. These tokens differ from regular cryptocurrencies in that they can represent unique assets both on and off-chain. There are NFTs worth millions of dollars today and every day thousands more enter the market. WenLambo captures this momentum and transforms it into a better tomorrow.
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. Users can save on fees while helping out others using WenLambo.
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. This approach is cool because if you are adamant about a certain cause you can suggest it via proposal. 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. Instead, your rewards get airdropped into your wallet. This process is simpler and requires fewer fees. In the end, users profit more.
This strategy eliminates the technical boundaries associated with staking processes and provides the STH community with access to a passive income stream. Staking is a popular feature that is now common on most DeFi platforms. When you stake your coins, you lock them into a network smart contract in exchange for rewards. This process can be confusing for new users.
META1
The META1 Coin project seeks to provide the world with widespread decentralized access to wealth. The project’s developer Robert P. Dunlap looked to freedom fighters in the past for inspiration when creating this platofrm. He took cues from Bitcoin and other game-changing technologies to create a unique DeFi ecosystem. The METANOMICs system empowers regular users to secure real wealth with minimal risk.
As part of this strategy, developers introduced a multi-asset gold-backed token coupled with a complete DeFi ecosystem. The META 1 stable coin is one of the first successful safehaven assets to hit the market. The token leverages a basket of gold-related assets and a combination of value-locking smart contracts to achieve its goal. Recently, the token was put to the test as the market corrected 20%. Notably, the META 1 coin retained its value proving the concept works.
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. Traders can secure excellent returns staking on META 1. Best of all, staking takes the mystery out of securing returns. The staking calculator makes it easy to see what your rewards will be at the end of your staking period.
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 as the world’s first self-appreciating stablecoin. In this way, META1 succeeds in its mission to provide abundance and equity to everyday people.
META DEX
META 1 token holders enjoy a responsive non-custodial DEX. This feature makes it easy to trade your tokens for other popular projects. The network features top-notch scalability and high performance due to the use of the fourth-generation META blockchain. This advanced decentralized network provides transaction throughput on par with the top performing, globally recognized exchanges.
Notably, META DEX users never have to upload their tokens to participate in the protocol. The non-custodial aspects of the DEX make it safer from hacks and ensure you are never separated from your crypto unintentionally. Today, most DEXs leverage a non-custodial system due to these benefits.
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 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.