The world's first decentralized charity project — LEC, was launched
The combination of philanthropy and blockchain has been discussed numerous times by people in the charity industry all over the world, but there has never been a mature implementation. Until May 2021, Vitalik used Shiba coin to carry out public charity activities against the epidemic in India, which was the first large-scale humanitarian relief using cryptocurrency. With Vitalik donating all of the coin at one time, the public charity nature of this cryptocurrency are over in an instant, and the continuation of the charity spirit of Shiba is LEC!
The LEC was inspired by this event. The team has created a very innovative combination of smart contracts: 50 percent of the coins are locked in the Charity Fund pool, 10 percent in the Treasury, and 40 percent are used for transactions. 50% of the Charity Fund will be spent according to the number of valid coin addresses (donating only 0.1 LEC per address per month, i.e. 100,000 LEC per month for 1 million valid addresses). As the currency goes up, the Charity Fund becomes more valuable. At the same time, they hope to build a decentralized philanthropic platform, similar to a decentralized GoFundMe.
Many followers of LEC are from Shiba community; they are determined to continue the attributes that Shiba has not completed!
Love Earth Project (loveearth.io) is a social public charity experiment with global participation. With the highly transparent block chain and perfect community autonomy mechanism, the project follows the green low-carbon spirit and explores new ideas in the era of Web3.0.
According to the news posted by the development team on Twitter, the LEC tokens and contracts have been fully deployed and are being audited by a well-known audit firm.
We will stay tuned on the further development of the LEC project