The Giving Block is excited to announce that we’re adding support for more cryptocurrencies in our Donation Form and fundraising platform. This week, we have added support for Binance USD (BUSD), Chiliz (CHZ), STEPN (GMT), Zebec Protocol (ZBC), Bonfida (FIDA), Tune.FM (JAM), REVV Motorsport Ecosystem (REVV), Qredo (QRDO) and Metis (METIS).
These tokens join a growing list of 100+ cryptocurrencies that nonprofits can accept with the fundraising tools and services powered by The Giving Block.
Learn more about these newly-added cryptocurrencies below:
Binance USD (BUSD) is a USD-denominated stablecoin. The BUSD coin was launched jointly by Binance and Paxos, and its market value is pegged to one US dollar. Like many other stablecoins, BUSD is 1:1 USD-denominated stablecoin, meaning that the fair market value of one BUSD is designed to follow the stability of one US dollar. BUSD is a digital-fiat currency that is issued as an ERC-20 token. According to Paxos, “BUSD is 100% backed by reserves held in either or both (i) fiat cash in dedicated omnibus accounts at insured U.S. banks1 and/or (ii) U.S. Treasury bills (including through repurchase agreements and/or money-market funds invested in U.S. Treasury bills).”
CHZ is an ERC-20 governance token compatible with the Ethereum blockchain network. The CHZ token is used as the exclusive on-platform currency of Socios.com, which is powered by the Chiliz blockchain. After purchasing CHZ tokens, users can buy branded fan tokens from sports teams and franchises including FC Barcelona, Paris Saint-Germain, the Golden State Warriors, Galatasaray, and the UFC. Fan token holders are eligible to participate in votes and can earn various forms of team rewards and recognition.
STEPN is a Web3 activity tracker application that was launched in March 2022. The app allows users to tokenize the act of running, walking, or jogging. It is one of the leading move-to-earn applications available and combines elements of GameFi and SocialFi. To earn GMT, users must first select an NFT sneaker of their choice, then select one of three game modes. Users receive rewards for every minute of movement. STEPN quickly gained popularity after its release, as it represents a new way to earn crypto. The app tokenizes real-world actions by adding game elements and blockchain technology to an activity tracker.
Zebec Protocol launched on the Solana blockchain in 2021 and enables continuous money streams for financial transactions such as investments, payments, and payroll. Its first application was Zebec Payroll, which allows employees to be paid by the second. Employees can withdraw all their money, convert some of their paycheck into cryptocurrency, or stream their payroll to compliant crypto 401K and IRA accounts. ZBC is Zebec Protocol’s governance token.
Bonfida is an ecosystem of products and solutions for the Solana blockchain. Bonfida provides a variety of products and services, including the Solana Name Service, which allows users to replace decentralized addresses with the domain name of their choice. Overall, Bonfida aims to showcase what can be accomplished with the Solana blockchain. FIDA is the native token of the Bonfida ecosystem and helps improve user experience. Most of the FIDA tokens are locked long-term and there is a limited supply.
Tune.FM is a decentralized Web3 music NFT marketplace and music streaming platform. Through Tune.FM, artists earn cryptocurrency when their music is streamed and they can mint exclusive NFTs. The platform uses the JAM token as its exclusive currency. On Tune.FM, both artists and fans use the JAM token. Artists get paid directly in JAM for every second their music is streamed. They may also mint NFTs and sell them directly to fans for JAM tokens. Fans pay directly for their streaming services using JAM.
The REVV Motorsport ecosystem is based around the concept of Play-to-Earn. A variety of gaming decentralized applications, including REVV Racing and Formula E: High Voltage, use REVV as their utility tokens. The REVV token serves as the single currency that connects all of Animoca Brand’s blockchain motorsport games. REVV can be earned through staking or gameplay rewards. REVV tokens circle back into the motorsport ecosystem as players use REVV to pay gameplay fees or purchase NFTs.
Qredo is a decentralized Layer-2 network that aims to improve connectivity between blockchains in order to enable highly secure cross-chain swaps and decentralized digital asset custody. The three main components of the Qredo Network are: blockchain interoperability, lightning-fast settlement, and secure decentralized custody. Qredo is designed for users and developers seeking to securely transfer digital assets with no clearing and settlement risk, no counterparty risk, and independent governance. QRDO is an ERC-20 governance token compatible with the Ethereum blockchain network, with a supply of 2 billion. QRDO is used as a utility token across the Qredo Network ecosystem.
Metis aims to solve some of Ethereum’s biggest challenges, including scalability, transaction speed, and high gas fees. Its mission is to create an accessible, easy-to-use technical platform that makes blockchain available to everyone who wants to start or grow a business, dapp, or community with scalability. As a Layer-2 rollup, it is compatible with Ethereum Layer 1. Metis uses Optimism rollups that will “enable developers to integrate in a fast, cheap, and easy manner.” METIS is an ERC-20 governance token compatible with the Ethereum blockchain network.
How to Donate Crypto to Charity
With this latest update, more than 2,000 nonprofits, universities, faith-based and other mission-oriented organizations can now accept donations of these assets with The Giving Block’s all-in-one crypto fundraising solution. Donors looking to support an organization or cause that’s important to them can do so by browsing nonprofits and Impact Index Funds and selecting one of these cryptocurrencies in the Donation Form when completing the transaction.