MoonBear.Finance joins the crypto-charity industry with a new token
- Antonio Anderson
- October 23, 2021
- 0 Comments
“Nobody has ever become poor by giving”
Cryptocurrencies were created to give people control over their money. Thanks to developments like smart contracts, which have helped create decentralized applications for most industries, the industry has seen enormous growth and adoption in a short period of time.
The value of utility tokens has also risen in tandem with the adoption of various blockchains. Today, the market has over 10,300 coins valued at over $1.54 trillion, according to reliable crypto market trackers. The tokens are associated with projects in a variety of industries, including transportation, sharing economy, music, energy, sports, and tourism. The crypto market has created lots of money for those involved after growing over 10x in the last year.
Within the crypto industry, after the onset of the COVID-19 pandemic, we have seen a rise in projects looking to give back. These projects aim to eradicate hunger, disease, fight for the rights of oppressed and disadvantaged groups, and positively impact the environment.
Cryptocurrencies have disrupted many spaces, not the least of which is the charity sector. Donors strive to support organizations they believe in by donating what they can. Moreover, a huge percentage of philanthropy is done anonymously. It’s difficult to guarantee anonymity with traditional financial donations like cash. Many affluent benefactors are looking to cryptocurrencies as a solution to this problem.
With cryptocurrency, to begin receiving crypto-gifts, charities only need to open a crypto wallet and post their address with their followers; better yet, in most countries, these donations are tax-free. Non-profits often gain additional incentives when utilising large crypto websites, such as Coinbase, which dropped its fees in order to promote charity, or Ethereum, whose smart contracts have been designed to work effortlessly in the third sector.
One of the most significant wins for charities in the cryptocurrency space is the fact that sending bitcoin from wallet to wallet is free. This alleviates one of the most significant problems that international support has experienced in recent decades. When it comes to sending money, remittances lose a significant amount of money, up to 10% for those in poor or rural areas. An estimated $30 billion is wasted each year in transaction fees from money sent back to migrant workers’ families. Crypto allows people to keep more of their hard-earned money.
In the last few years, there has been a rise in crypto-charity projects where the majority of them are DeFi-based. These projects receive money from their investors and distribute them to a charity. There are definitely a few reasons why charities should not delay when getting started with cryptocurrency. First of all, it provides access to a new group of donor demographic who already own cryptocurrency and want to do something positive with it. Secondly, it is a new way to make payments that have no processing fees, from anywhere in the world. Furthermore, the use of cryptocurrency positions charities as innovators in the “traditional” charitable space. Additionally, using crypto attracts the attention of crypto donors who may not have noticed the charity previously. Finally, it helps philanthropists find an ethical solution for their tax dilemmas.
These projects, however, transfer payments to their own private wallets. This raises concerns, particularly among individuals who contribute, because there is no way to ensure that the funds will reach the intended recipients. Furthermore, most projects make donations with their tokens, which might cause their value to plummet anytime a large donation is made. This is inconvenient for project investors and may be seen as market manipulation.
Despite skepticism around crypto charities, many crypto companies allow users to give back to charitable causes by buying and selling tokens.
The team at MoonBear.Finance is determined to provide people with a way to generate sustainable wealth accumulation and passive income, while also supporting a special cause. As a result, MoonBear.Finance has created a community-driven, fair launched, decentralized finance (DeFi) cryptocurrency token with supercharged tokenomics even in a bear market.
The company name was inspired by the Asian black bear, also known as the “moon bear”, a medium-sized bear species native to Asia. Currently, there is a huge risk of extinction for several moon bear populations, and they may be lost forever due to the deforestation of their habitat and human exploitation in bear farms.
As a MoonBear ($MBF) token holder, you will be supporting their token price as well as their ability to raise funds for the moon bear cause. For every sale transaction, 2% of the transaction amount will be deducted as a fee and donated towards initiatives to help save and repopulate the moon bear species and other endangered wildlife.
Additionally, for each sale transaction of $MBF, an 18% tax is applied and distributed in eight different ways. The fee will benefit existing token holders and helps incentivize long-term holding of $MBF token. The breakdown includes 3% marketing, 3% rewards, 2% burn, 2% holders, 2% liquidity, 2% buybacks, 2% team, and 2% charity.
If you’re interested in being a part of MoonBear.Finance, there are five simple steps to follow. First, you need to download the Metamask wallet by going to Metamask and installing the app on your browser. Just follow the in-app steps to create a free wallet, log in and get started. From there, you can buy some BNB at your preferred exchange. The next step is to use your BNB and withdraw it to your Metamask wallet address. Once those steps are done, you can go to MoonBearSwap and connect your wallet to it. Finally, you just need to put in the BNB amount you wish to swap, and you are part of the MoonBear family.
You can also learn more about MoonBear.Finance on Medium.