In May 2021, Ethereum (ETH) co-founder Vitalik Buterin donated over $1.5 billion in cryptocurrency to help India in its fight against COVID-19. The grant included approximately 50 trillion Shiba Inu (SHIB) tokens and 500 ETH tokens.
According to reports, more than $400 million worth of SHIB tokens were sold to use the funds on healthcare projects. However, SHIB tokens worth $100 million were reportedly sent back to Buterin in early 2022. The co-founder of Ethereum moved this fund to form a new charity body called Balvi.
According to the founder of Ethereum, Balvi has now started its first round of funding.
Balvi gave grants to anti-Covid efforts
ETH co-founder as a major proponent of decentralization. In a post, Buterin suggested that the future of biodefense is decentralized, open and collaborative.
Buterin aims to use this trust to work on COVID science and support other credible projects. they shared something Updates about the first round of funding recipient of this fund. The Rapid Deployment Vaccine Collaborative (RaDVac) has received $2.5 million in the first round of funding from Balvi.
The Rapid Deployment Vaccine Collaborative (RedVac) has received $2.5 million in the first round of funding from Balvi. The projects are focused on open source COVID vaccine R&D. The firm will use this fund to close the access gap in an easier way to develop vaccines around the world.
In this bid, another open source project also received a grant to develop a UV lamp to kill the virus. The UVGI project has been able to ship kits with various modifications to three countries. Buterin shared that another trust has received a donation of $3 million for research on chronic Covid symptoms.
ETH Founders Worried About Rising Gas Fees
The highly anticipated Ethereum merge date, or ETH 2.0, has been delayed until the third quarter of the year. Recently, Buterin picked up concerns over ethereum Layer-1 transaction fee. He believes that ETH gas fees should drop below $0.05 to be more acceptable.
The material presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication has no responsibility for your personal financial loss.