Charity-Based DeFi Project Munch Offers Asset Staking

As big as this year has been for the entire blockchain and crypto industry, one sector which has benefited immensely from decentralization is that of charity. One such leading charity-based DeFi project on the Binance Smart Chain, Munch Project, has recently announced the creation of a farm for asset staking.

The Munch Project is a leading decentralized community that has raised $4 million in donations to various partnering charities since April 2021. In the current quarter, it has also launched a custom bridge for BSC charity wallet to ETH in addition to support for a launchpad for social causes on its platform.

Users can now stake their digital asset holdings, either via liquidity pool token staking or by staking single assets, to earn rewards and give back to charitable causes the Munch project has partnered with. With this new feature, 10% of rewards earned from staking will be diverted to charity and this figure can be adjusted to higher levels if the holder wishes to donate more.

MUNCH’s liquidity pool staking feature lets users add liquidity to a pool such as Uniswap, putting their ETH and MUNCH tokens to use, in exchange for LP tokens. LP tokens are received when providing liquidity on Uniswap or PancakeSwap, but the advantage that the MUNCH DeFi project offers is the ability to earn LP tokens without being taxed on MUNCH token transfers on the larger DeFi platforms. As a result, the users have the opportunity to earn higher rewards, by providing liquidity without being taxed.

MUNCH users can stake their tokens for a minimum duration of one week, letting rewards accumulate and accessed anytime after this minimum period ends. The project is funding 1 trillion tokens for yield farming, offering a reward rate across chains of around 4.6 billion tokens on a daily basis.

In single asset staking, MUNCH owners can send and lock their holdings for a specific period of time, with options of 45 days, 90 days and 180 days. In this staking, rewards will be distributed through the lock period, and users can keep earning rewards by renewing their single asset staking.