The Waves blockchain project joins GITCOIN and The Giving Block, as Waves announced the start of its #CryptoCOVID19 charity campaign with the aim to help organizations in financial need caused by the COVID-19 pandemic. The attempt is already active on the Waves.Exchange website in the form of a prediction market campaign.
The number of COVID-19 cases is still rising and has already passed one, spreading across 212 countries and taking the lives of more than 73,000 people. It has grown to be an enormous issue that affects all communities and business sectors and is why organizations from various industries are united against this deadly disease.
Waves.Exchange is calling out the growing crypto community through its #CryptoCOVID19 campaign. The main target of the effort is to gather funds for non-profit organizations like Save the Children, the SOS Children’s Villages and the International Medical Corps.
When joining the original #CryptoCOVID19 charity movement, started by GITCOIN and The Giving Block, Waves.Exchange donated 10,000 USDT. Some of the other companies that joined the drive are The Block, Brave browser, Gemini, NEXO and others.
Everybody can participate in Waves.Exchange’s #CryptoCOVID19 effort by making a prediction on how the pandemic is going to spread by June 1st. Voting is happening with the COVID-DWN-JUN20 and COVID-UP-JUN20 prediction tokens. They are controlled by a smart contract, hosted on the Waves blockchain, guaranteeing autonomous auditing, complete transparency, and clear information on the result. Up to date, the trend has raised more than $100,000 globally.
Waves.Exchange issues A and B tokens and locks up USDN, which will be automatically assigned to the winners after the campaign is over.
As winners will be determined every week, the following mechanism will be applied. Users who voted for COVID-DWN-JUN20, for example, will win if the total amount of new cases during the specific week is less than the one during the former 7 days. On the other hand, holders of COVID-UP-JUN20 will win on June 1, 2020.
As for the data used, there should be no doubt about it, as it will be provided by Johns Hopkins CSSE’s Data Repository, which is receiving its numbers directly from the World Health Organization.
Winners can allocate their prizes for charity purposes or keep them for themselves, while any extra income will be also donated for charity.