Crypto for a cause? A new project is tapping into blockchain technology's potential to give back to those in need.
Freshly launched this month, Change Our World ($CHG) aims to tackle the longstanding issues of transparency and traceability in the philanthropy space through its next-gen tokenomics model.
Every $CHG transaction is subject to a 10% fee —9% for a liquidity pool and 1% to be redistributed to token holders. Half of that daily liquidity will be donated to charitable organizations, and the rest will be burned, aside from a small portion sent to a staking treasury to support future initiatives. In order to prioritize transparency and community-building, the development team has also announced plans to livestream donations and regularly provide transaction links to ensure all funds are accounted for.
“This is our passion project,” says the project's development team in a press release. “It’s an enormous ambition. We need everyone’s help to positively impact as many lives as possible.”
$CHG has already started to make good on its name. Following the first 24 hours of trading, the team announced its first charitable donation of $136,734 to the 100,000 Trees for Australian Brushfire Donations — the largest single-day raise by a charity token on Binance Smart Chain in history. The coin notably reached a $20 million market cap in its first 72 hours.
$CHG will continue allocating donations to the Binance Charity Foundation’s initiatives for the time being, but intends to begin supporting external charities in the near future. The development team envisions $CHG supporting a wide range of causes and have encouraged community members to make their voices heard.