In an age where decentralized finance (DeFi) is seemingly the future of the world economy, there have been no shortage of cryptocurrencies and the visionaries behind their making. But of the over thousand forms that exist today, none better embody the spirit of altruism than Jacob Beckley’s CURE Token.
A new arrival to the world of cryptocurrency, the CURE Token is a blockchain extension of Jacob Beckley’s esteemed non-profit organization, the Beckley Foundation and was made available on September 16, 2020 to aid in accelerating pediatric cancer research and awareness. Now an enormous success, the DeFi project now boasts over thousand transactions among its current 7,974 holders, having hit the 10 million USD mark on October 9, 2020 right in time for its all-time-high market cap of 51 million USD just 14 days later.
‘’The Covid-19 pandemic and its social implications made it hard for us to assemble people and raise money the way we were accustomed to. During this period, we noticed the cryptocurrency market was gaining good traction, and with crowdfunding through blockchain technology already an established concept, it was the best time to usher in a cryptocurrency evolution of the Beckley Foundation. CURE Token was born and our dream to help combat the menace of pediatric cancer lives on into the future of global healthcare’’, Jacob Beckley shared.
The CURE Token is based on the Binance Smart Chain network and has seen two iterations released so far; V1 and V2 — the former taken down in the wake of its June 18 release following the discovery of a bug typical of DeFi scams. According to the American philanthropist and Solidity Developer, the vision is to partner with research organizations across the globe and draw from the wealth of experience available in the fields of innovation, technology and charity, in order to discharge finances in an equitable manner and save as many lives as possible.
On the technical end, Jacob’s charity inclined token is modeled on a Deflationary Contract Protocol meant to check curb inflation in the community and steadily increase the CURE Token’s market value as transactions pile on. Also, it is worth highlighting that the token incorporates a 10% transaction tax which factors in the following components:
• 4% Reflections; to reward long-term members of the community.
• 3% Charity Wallet; with donations delivered to the custodial non-profit focused on childhood cancer awareness, support and research, aside future causes.
• 3% Marketing; to keep the project growing.
In the end, Jacob’s dream of providing a charitable stairway to DeFi through his decentralized CURE Token is well on course. It is set to herald a new age of scientific research funding, one that has easy access, equity and above all, the bright smiles of countless children and families worldwide at its heart.