LONDON, April 3, 2020 /PRNewswire/ -- The Waves blockchain project has launched the #CryptoCOVID19 charity campaign on its Waves.Exchange to support organizations and funds in need of financial aid in fighting the global COVID-19 epidemic.
With the number of confirmed cases reaching one million around the world and the number of victims approaching the fifty thousand mark, large organizations worldwide have banded together in an effort to stem the pandemic. The Waves project has reached out to the trading and crypto communities by joining the #CryptoCOVID19 campaign on its Waves.Exchange to help raise funds for supporting non-profit organizations, such as the International Medical Corps, the SOS Children's Villages, Save the Children and many others.
The original #CryptoCOVID19 campaign was launched by The Giving Block and GITCOIN projects as a charity movement. Waves.Exchange joined the effort by donating 10,000 USDT. Other companies, like the Brave browser, The Block, NEXO, Gemini and many others are joining the movement as well.
Thus far, the #CryptoCOVID19 campaign has raised over $100,000 in charity donations worldwide.
The campaign is based on the principle of allowing participants to make predictions on the spread of the epidemic within a specified timeframe using prediction tokens. COVID-DWN-JUN20 and COVID-UP-JUN20 are tokens hosted on the Waves blockchain that are regulated by a smart contract, thus ensuring full transparency, independent auditing and verification of the campaign's results.
The platform issues A and B tokens and locks up USDN and distributes them automatically among the winners after the end of the event. The number of confirmed cases is calculated as the total number of new cases over the course of a week with COVID-DWN-JUN20 winning if the total number of new confirmed cases over the week is less than the total number over the previous 7 days. COVID-UP-JUN20 will win on June 1, 2020, in the opposite case.
The data on the number of infected is provided by oracles from the Data Repository by Johns Hopkins CSSE, which receives real-time data from the World Health Organization.
The winners will be granted valuable prizes or can share their winnings for charity purposes. All additional proceeds of the campaign will be donated to non-profit organizations.
The Waves.Exchange is confident that the #CryptoCOVID19 campaign can attract the attention of the broader crypto and trading communities and help charity organizations in fighting the spread of the global epidemic.