The developers of the Grin cryptocurrency project received an anonymous donation of 50 BTC, which is approximately $300,000 at the current rate.
The Grin project is notable for the fact that it entered the market, developing with a model that was called a “fair launch”. This meant that project managers did not raise any funds through the initial coin offering (ICO) or the private token sales. Thus, the development of the Grin protocol is completely dependent on voluntary donations and crowdfunding.
Grin is a relatively new cryptocurrency, which was launched in January of this year. It leverages new technology aimed at anonymizing transaction information. According to a recently published financial report, investment in the project has almost doubled over the past four months, from an estimated $ 65,237.35 to $ 123,423.73. Now, with additional donations of 50 BTC, the project attracted approximately six times more funds than at the start in 2019. Such a donation is also a sign that the Grin financing model is fully working.
It is expected that the funds will be directed to the creation and deployment of key infrastructure, website design and marketing, the development of mining hardware and much more.
Image courtesy of Crush Crypto