Community Update: Community Donations, Raffles and Token Burns!
Since our recent launch, we’ve been working towards making Monke Money a community-driven project, so we’ve decided to implement some changes which will help us move closer towards that goal.
Community Donations and Raffles:
We’re going to implement a community donation wallet, where members of our community will be donating BNB to it and every week, the community will be picking an organization to donate to. This way, the community donates and the community decides which organization will benefit from their donations.
Furthermore, in order to incentivize community donations, one lucky winner, who has donated, will also be getting a share of the total amount of BNBs raised in the community wallet. The selection will be random, but we will implement a donation weightage where a wallet donating more will stand a bigger chance of winning compared to a wallet donating less. We believe this is only fair to everyone.
In order to ensure the safety of the community funds, the community donation wallet will be a multi-signature wallet, which will require approvals from multiple team members before moving any funds from there. The minimum and maximum donation limit will be decided shortly. The donation/raffle prize split will be decided via a community vote, which will also be hosted shortly.
Token Burn Events:
With the implementation of a community donation wallet, we no longer require our allocation of donation tokens so we’re going to burn them!
There are 500,000 bMONKE tokens (5% of the total supply) allocated to donations and they’re currently locked in DxSale as a safety measure for the community. Once they’re unlocked, we will be hosting token burn events over a period of time where a part of the tokens will be burned and the rest will be locked again, only to be burned later on.
