COVID19 COIN (COVX)
Covid19 Coin, also known as COVX or the Corona Help Coin, is a cryptocurrency which exists to support social causes.The ecosystem is built upon the Ethereum Blockchain and the economy is deflationary, where there are 1 Billion coins in the beginning which will burn out 1% with every transaction to a final supply of 400 million.
Also, there are 400 million coins held in the 'Master Cause' wallet which are released gradually toward causes related to the novel coronavirus pandemic. Anyone with a legit cause can list it on the site, there will be three causes choosen every week via voting to who the winning amount is donated in the ratio 5:3:2 or 50%, 30% and 20% respectively. Whenever a COVX transaction takes place, 2% of the equivalent transaction amount will be designated for release from the 'Master Cause' Wallet to the winning causes.
In the future, the voting process will take place via a Blockchain based DAO (Decentralized autonomous organization) on 'Aragon' network, where the COVX coin holders will govern the direction of the platform. Every decision such as donation amounts, cause listing criteria, the frequency of donations etc., will be decided via voting by the coin holders.
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