The money was raised through transaction fees in the project’s own token SAFEEARTH and donated to The Ocean Cleanup
Given shrinking glaciers, rising sea levels and the prediction by the Intergovernmental Panel on Climate Change (IPCC) that the Earth could warm by 4°C or more by the end of this century, the effects of climate change are obvious. Many accuse the crypto industry of playing a role in this – in fact, research by the University of Cambridge suggests that the annual electricity consumption of Bitcoin was 126 TWh. This is more than the flow of all of Argentina or Norway.
Cryptocurrencies and the technology behind them also have the potential to combat climate change. This is exactly what the Blockchain Eco-project, safe earth does. Launched on 27 March 2021, the protocol rewards its community and the environment with the innovative tokenomics of its own SAFEEARTH token.
For each safe earth-transaction fees in the amount of 4% to fall. Contains 1% are advertising, 1 % is distributed to a safe earth-holders, and 1 % will be locked to increase liquidity. The last 1% of the fees are donated to environmentally friendly charities and initiatives.
The safe earth Community will then vote on which charities the fees will be donated. On Friday, the project announced that it had made its first donation of over $ 100,000 to The Ocean Cleanup. This nonprofit uses the funds to remove plastic waste from the oceans by developing advanced technologies to shrink the Great Pacific Garbage Patch and collect 80% of the waste in rivers before it even reaches the oceans.
Steven Bink, IT Director of The Ocean Cleanup, annotated: “Dear A Safe Earth Community. On behalf of the whole team of The Ocean Cleanup I would like to thank you for this very generous donation. We are honored that your choice for the first charity to receive this gift from @SafeEarthETH has fallen on The Ocean Cleanup.“
The second safe earth donation will on earth day (22. April 2021) will take place. The project has already allocated a further 35 ETHs (currently around 79,000 US dollars) to five charities dealing with humanitarian issues such as the conservation of wildlife and access to clean water. The community will vote on it.
Although the protocol started with a total stock of 1 quadrillion SAFEEARTH, half of these tokens were sent to a black hole address and burned during the launch. Part of the fees paid out to token holders also goes to this address, which means that the offer to SAFEEARTH decreases over time and the token becomes increasingly rare. A safe earth is to Uniswap available for trading.