Ethereum-based crowdfunding platform, Gitcoin, joins fight against coronavirus by pledging at least $50,000 in development grants toward coronavirus-related initiatives.
On March 14, Gitcoin tweeted that its fifth round of grants already has $50,000 committed toward “public health” initiatives. However, it is seeking to reach a minimum of $100,000, with the goal of distributing sufficient funds to multiple efforts.
The project has invited the public to refer relevant health projects to Gitcoin, noting that submissions will be reviewed alongside partner entities on a “case-by-case basis.”
Funding for Gitcoin’s fifth grants round will begin on March 23 having been delayed by one week from March 16 as a result of last week’s extreme market volatility.
The proliferation of cryptocurrency companies seeking to donate or raise funds for coronavirus relief efforts continues.
However, multiple technologies underpinning the Gitcoin platform are still facing challenges following the crypto market meltdown with Ethereum currently experiencing high transaction fees, and MakerDAO the company behind the Dai stablecoin, which is used as a means of payment on Gitcoin soon to conduct its first-ever Debt Auction.
Source: Cointelegraph.com | Image Credit: ConsenSys
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