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Elongate and Munch Raise Millions for Charitable Causes

Published 05/10/2021, 04:37 AM
Updated 05/10/2021, 05:00 AM
Elongate and Munch Raise Millions for Charitable Causes

  • Two cryptocurrency projects have gathered over $3 million for charitable contributions.
  • Elongate has raised $2 million, a crypto project that began as a parody of Elon Musk.
  • Munch has put above $1 million to aid different causes in developing nations.

Two unrelated cryptocurrency projects have collectively gathered over $3 million for charitable contributions this month. In fact, they aim to underscore the potential of digital assets in aiding mission-based non-profits around the world.

Elongate has raised $2 million, for various food and general support programs via Human Relief Foundation and Give India. The crypto project began as a parody of Elon Musk’s reference to the Watergate scandal.

Hasan Aziz, the project’s chief technology officer, said:

“In just a month, the Elongate ecosystem has grown to change the face of charity and crypto trading.”

Also, Elongate published that its token will start trading on BitMart Monday. At the same time, the crypto community is stepping up to distribute its wealth to good causes.

Despite starting as a meme, Elongate has emerged as a significant player in the market for crypto-based charities. The project insists on having over 400,000 holders worldwide.

In addition, the Giving Block has launched a new charity drive to encourage community members to donate at least 1% of their crypto holdings to charities each year. While, several high-profile crypto industry veterans have already joined the initiative.

Meanwhile, the DeFi project Munch has put above $1 million to aid charities in developing nations through the Maximum Impact Fund. Over the years, the Maximum Impact Fund has allotted $10 million fighting malaria and other illnesses in Africa.

This article was first published on coinquora.com

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