What Is Munch Token (MUNCH)?

Munch Token is a blockchain-based DeFi platform that utilizes transaction fees for distributing resources to charitable causes. Such transaction fees are obtained by purchasing and selling MUNCH, the native token of the platform. The transaction fee is converted to Ethereum during the transaction process and sent directly to the wallet of charities.

According to the Munch Token whitepaper, the year 2020 emphasized the financial system's imbalance due to the pandemic and its consequences. The need for asset distribution increased, and the global wealth also became more concentrated. Therefore, individuals seek to decentralize their financial power through cryptography and blockchain technology to gain more control over the distribution of their accumulated wealth. The Munch Token platform aims to enable users to choose MUNCH's donation and distribution ratios, thereby empowering the community to take control over their tokens.

MUNCH is an ERC-20 token. The team of Munch Token has locked the initial liquidity and pre-sale of MUNCH. Therefore, the Munch Token project aims to exist despite price fluctuations. In order to address the issue of anonymous sourcing of funds, the Munch Token team aims to work with accredited exchanges that conduct the KYC process and undergo due diligence procedures.

The model of Munch Token is based on a system that rewards the community of users and distributes resources to authentic charities. Of every MUNCH transaction, 2% is redistributed to the token holders, resulting in the total amount of MUNCH held by each token holder. The amount of 3% of the transaction is sent to charitable causes directly after converting the transaction fee to Ethereum. Therefore, the fees are not stored in escrow in a wallet owned by Munch Token. Such a conversion process makes the process trustworthy by avoiding storing multiple transactions. The users do not require ensuring that the fees are sent to charities; instead, the fees are locked into the contract design.

History of Munch Token (MUNCH)

The website and whitepaper of Munch Token were updated in 2021. Rodrigo Silva is the CEO of the platform, and Mike Si is the COO. The total supply of MUNCH is 100,000,000,000,000.