You probably already know that the cryptophere has been shaken up by the recent events surrounding FTX and its former CEO Sam Bankman-Fried.
In the Degen space which is less familiar to the general population, times are also though with the many rug pulls that take place every day. Devs who run away with marketing funds or who promise things they can’t deliver.
But don’t you worry, the space doesn’t only exist of evil actors. On November 9, 2022, Vitalik Buterin (Ethereum founder) came up with the idea to donate half of the supply of a coin straight to a charity such as GiveWell (1).
The above gave rise to the birth of GiveWell Inu ($GINU), a meme coin which exists on the Ethereum blockchain. The GINU dev even took things a step further and created the contract in such a manner that 2% of every trade directly goes to GiveWell’s ETH wallet (2) and another 1% goes to the liquidity pool (LP). There are no hidden taxes that go to the devs wallet for things like “marketing” or “development”. The ownership of the token is renounced, which means the contract can’t be changed.
At the time of writing, the protocol already send 33 ETH to GiveWell which can be verified on the blockchain: https://etherscan.io/address/0x7cF2eBb5Ca55A8bd671A020F8BDbAF07f60F26C1#internaltx.
If you click on the link that redirects you to Etherscan, under internal Txns you’ll see the ETH that’s being sent from the $GINU contract to GiveWell’s Ethereum address (2).
What is GiveWell?
GiveWell is a U.S. based non-profit organization that primarily focusses to support the most cost-effective charities. They take no fees on donations that are made through their platform. Transparency is very important to them as they publish the full details of their analysis and reasoning so that the audience can come to their own conclusions. The “Malaria Consortium” and “Against Malaria Foundation” are 2 of many charities that they support (3,4).
Nowadays, malaria still poses a tremendous risk to society. In 2020, there were about 241 million malaria cases and 627,000 malaria deaths worldwide (5).
Did you know it costs only about $7 to protect a child from malaria? (6). This means that with the 33 ETH, now worth ~$42,000, around 6000 children can be protected from the disease. Currently, the project is only 4 days old. Imagine the possibilities in 1 year!
Join the GINU movement and make a change!
Usefull GiveWell Inu Links and info:
(2) GiveWell’s Ethereum address: 0x7cF2eBb5Ca55A8bd671A020F8BDbAF07f60F26C1 https://www.givewell.org/about/donate/cryptocurrency
Disclaimer: I’m not affiliated with GiveWell or GiveWell Inu. Always do your own research and do not take this article as financial advice.