CovidDog, or cDOG as their token is named, looks like the new puppy on the block. They’re a start-up whose birthday was just 5 days ago.
Already saving up over $6,000 in “crypto tax” they’ve just made their first significant donation to a major Dog Charity in the United Kingdom – Dogs On The Streets.
CovidDog is a charity-based Cryptocurrency that has auto yield generating properties and an auto charity function. In non-crypto terms, this means that cDOG taxes every transaction using their cryptocurrency token by 2%. Within this tax, 1% is then distributed back to holders of their token (generating a passive income for everyone) and the other 1% goes into their charity wallet which is then used to donate to worthy causes around the world.
For those of you who love the math of cryptocurrency, here are some figures about CovidDog: At just 5 days old, cDOG has a market cap of $217,000 (time of writing), it has a little over 1,500 community members in their Telegram group, 1,800 followers on Twitter and 1,500 holders of their token.
Dogs On The Streets (DOTS) is a multi-award-winning charity that is a volunteer-run, not-for-profit charity dedicated to the welfare of dogs belonging to the UK’s homeless community.
Just like a lot of charities, during the Covid-19 pandemic, DOTS have struggled to raise donations as they’ve had to stop all in-person contact with regular donors. On top of this, there has been a serious shortage of PPE for vets due to charities not being made a priority during the pandemic, so all money raised has a much wider spectrum of benefits than usual.
The main goal of DOTS is to help dogs that are living alongside the homeless on the streets, helping feed, look after and generally give them some extra loving.