Waves has launched a macabre marketing campaign to purportedly increase cash for COVID-19 reduction. The platform has created a tokenized parimutu
Waves has launched a macabre marketing campaign to purportedly increase cash for COVID-19 reduction. The platform has created a tokenized parimutuel betting pool the place customers can speculate on whether or not the worldwide variety of confirmed coronavirus circumstances has risen or fallen inside a given week.
On April 3, Waves introduced the ‘charity marketing campaign,’ ostensibly in help of “organizations and funds in want of monetary support in combating the worldwide COVID-19 pandemic.”
Waves launches tokenized COVID-19 prediction market
Waves.Change customers can now buy ‘COVID-DWN’ or ‘COVID-UP’ tokens to take a position on whether or not the variety of globally confirmed coronavirus circumstances will increase or decreases inside a seven day interval.
Tokens are bought in alternate for the stablecoin, Neutrino Greenback (USDN). All USDN used to buy the tokens are then locked in escrow earlier than finally being distributed to holders of the profitable token on the finish of every week.
The charitable part to the parimutuel pool is that “winners might be granted precious prizes or can share their winnings for charity functions,” and “all extra proceeds of the marketing campaign might be donated to non-profit organizations.”
Knowledge on the variety of confirmed COVID-19 circumstances might be supplied by way of oracles from the Knowledge Repository by Johns Hopkins CSSE — which receives from the World Well being Group (WHO) in real-time.
Crypto builders leverage coronavirus as a advertising instrument
Whereas the crypto neighborhood has rapidly created a plethora of partaking and significant initiatives in response to the coronavirus pandemic, a handful of actors have sought to invoke COVID-19 for advertising functions.
On March 23, HashCash Consultants introduced its upcoming ‘Corona Fund Index Cryptocurrency’ — a token backed by nothing which purports to reflect the efficiency of an inverse S&P 500 exchange-traded fund (ETF).
Throughout February, builders from 4Chan launched ‘CoronaCoin’ — an ERC-20 token with a provide similar to the world’s inhabitants that may endure a burn each 48 hours in keeping with the variety of COVID-19 fatalities.