I´m pretty sure many of you have already heard about CoronaCoin(NCOV). Many people say the project is vile or an attempt to make some quick cash by the developers. In this post i will present you the facts, and you will make your decisions based on the information presented. Make sure to do also to your research. Now, lets look at CoronaCoin.
Disclaimer: I´m not affiliated in any way with the project.
What is CoronaCoin?
Coronacoin(NCOV) is an ERC20 token that documents coronavirus infections and deaths on the blockchain with a token burn. For every coronavirus infection or death the team burns 1 token, this is manually done every 48 hours. The statistics are obtained from the World Health Organisation (WHO).
The number of tokens is decreasing over time and is also non-mintable that makes it a deflationary currency that should grow in value over time. The team also donates 20% of the total amount of tokens to the Red Cross. The total amount of tokens minted was 7,604,953,650 this was equal to the number of people in the world at the time of minting. This token created a lot of controversy in the crypto community, let´s see what the team has to say about it:
Why was NCOV created?
The team says they created the CoronaCoin project to help the fight against COVID-19, by there own words:
"By putting the information regarding the number of infections and deaths on the blockchain, it enables this data to enter authoritarian countries uncensored (i.e. China’s Great Firewall). This allows people to understand the true impact of the virus and prepare for any potential situations accordingly."
The team is also donating 20% of the total amount of tokens to the red cross, they already made some donations, all the information is on their discord. They also say that they chose this name to rapidly gain publicity.
The token was first distributed by airdrop, lets now at some trading information:
CoronaCoin is an ERC20 token, so you can store it in any ethereum compatible wallet. You have to manually add the contract address ( 0x10ef64cb79fd4d75d4aa7e8502d95c42124e434b ) so you can see your tokens. You can buy NCOV at:
- Bamboorelay - https://bamboorelay.com/trade/NCOV-WETH
- Saturn - https://www.saturn.network/exchange/ETH/order-book/NCOV
- Altmarkets.io - https://altmarkets.io/trading/ncoveth
- Forkdelta - https://forkdelta.app/#!/trade/0x10ef64cb79fd4d75d4aa7e8502d95c42124e434b-ETH
- SatoExchange - https://www.satoexchange.com/market/nCoV/ETH/
- Uniswap - https://uniswap.exchange/swap (enter contract 0x10ef64cb79fd4d75d4aa7e8502d95c42124e434b)
The token is currently rising in value, its currently trading at $0.00104225 with a total trading volume equal to $34,306 in the last 24 hours. You can see this on https://www.coingecko.com/en/coins/coronacoin
The community is also big and its still growing, the developers are very active on discord and always ready to answer any questions. You can join the community on:
- Telegram - https://t.me/CoronaCoinOfficial
- Twitter - https://twitter.com/corona_token
- Discord - https://discord.gg/cPQDqpv
- Reddit - https://www.reddit.com/r/CoronaCoin/
- Website -https://coronatoken.org/
This project is not so new and underground as the ones i usually follow, and it shows. The token already has a big community, gets good trade volume, and its listed on many exchanges.
In my opinion the team already made a good work and are working to improve and expand both the community and the coin itself. Its up to you to decide if you morally agree or not with the project because i will get my bag very soon.
As always do your own research before buying a recent token, i think the projects shows promise but you better DYOR.
I will continue to follow this project, i will make new posts about the NCOV project and other new interesting crypto tokens . Make sure to follow me so you will know all about the new projects in the crypto world.