PancakeSwap has announced that it has donated all the proceeds from the sale of its merch. PancakeSwap had already carried out two rounds of sales and all the proceeds were donated to Give well.
Charity Begins with PancakeSwap
Charity in the crypto verse is not a new topic. However, Pancakeswap is taking charity through a different route by allowing benefactors to receive the hottest PancakeSwap clothing. The giver gets to purchase swag from PancakeSwap and the proceeds from the sale go to Give Well, “a charity aiming to optimize donations to do the most good possible.”
The swag shop is hosted on Teespring, an e-commerce solution that enables creators to create and modify designs on swag by themselves before purchase. According to Pancakeswap,
“We tried to set it up so we didn’t take any profits at all from sales: the goal’s to help you be swag, not to make money from shirts. That’s why each item links to source files so you can DIY.”
PancakeSwap mentions that the platform requires “a minimum profit margin” and this has motivated their resolve to donate all the proceeds. The DeFi exchange platform has donated two rounds of their sales already, and the aim is to “keep donating 100% of store profits periodically.
About Pancake Swap
PancakeSwap is the #1 Decentralized Exchange on Binance Smart Chain. With its recent and increasing popularity, PancakeSwap now competes against traditional DEX options like Uniswap and SushiSwap. The decentralizedAMM protocol runs on the BSC and is a fast and inexpensive alternative to Ethereum. With PancakeSwap, users can swap between assets by tapping into user-generated liquidity pools. There are also opportunities in borrowing, lending, farming, and staking for which liquidity providers receive profit in BNB.
Recently, PancakeSwap migrated to V2 thereby transferring two of its current smart contracts to new, upgraded contracts. What this means is that a new set of LP Tokens were created and PancakeSwap farms and exchanges will start supporting the new type instead of the old ones. The reason for the upgrade was the fact that the previous PancakeSwap Router and PancakeSwap Factory contracts were not upgradeable.
About Give Well
Give Well is a charity organization that searches for charities that save or improve lives the most per dollar. The aim is to give help with quality research on where to give that matters without collecting a dime in fees.