The announcement was made by Gitcoin which is known as the largest crowdfunding platform of Ethereum. The platform aims to fight against coronavirus with grants and therefore, a public health-focused section will be a part of its next round of fundraising.
According to the announcement, this newly added “Public Health” section of Gitcoin will include projects related to coronavirus resistance such as relief efforts and medical research projects.
Gitcoin has $50K for Public Health Round
For its public health round, Gitcoin has specified an amount of $50,000 worth of funding. Gitcoin is committed to giving these funds to participants. These funds will be given according to the donation matching system of Gitcoin.
Gitcoin aims to gather around $100,000 worth of funding for its public health round. According to Gitcoin:
“We already have $50k in funds committed to the matching pool, and are seeking to reach a minimum of $100k so that each vetted research and response related project can receive enough to be meaningful to their efforts.”
However, Gitcoin will welcome those people who will willingly want to be a part of this and invites people to suggest projects or provide additional funding for the public health round.
Gitcoin Grants Round 5 is delayed
Gitcoin Grants Round 5 consists of general Ethereum projects and there are around 309 tech projects and 58 media projects that have been added on Gitcoin Grants till now. The public health section is the latest addition to the Grants Round 5.
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This round which was supposed to start on 16th March has been delayed by the Gitcoin platform on March 12 because of the market volatility. However, Gitcoin has also announced the new schedule for this round. According to the new schedule, Round 5 will begin on 23rd March 2020.
Not only Ethereum’s Gitcoin platform has started this initiative to combat coronavirus, but some other blockchain projects are also working to fight against coronavirus. The leading crypto exchange and blockchain platform, Binance also made a commitment to give $1.5 million worth of Chinese yuan (RMB) to help coronavirus affected people in January.
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