A new project has been created to take advantage of the benefits the tense situation in the United States and promote a new token.
A massive wave of protests and riots continues to affect the United States to George Floyd’s death by Minneapolis police.
While The crypto community has supported us a lotthrough the many donations that several prominent members made to support black rights activism, Some saw this as an opportunity Earn money quickly.
The result is the start of the “George Floyd Token” or FLYD. Your website says so George Floyd’s memory will “live forever” thanks to the token, while its main argument is that it is “a sure way to finance the movement. “
Despite the request to “perpetuate” Floyd via blockchain, It is not a collectable or non-dispensable token. FLYD is an ERC-20 standard that the “vision document” of the project “Demonstrators and Activists” is designed to help Accept more than one payment method if you need help. “
Different warning signs
Like many of the fraudulent Initial Coin Offerings (ICOs) between 2017 and 2018, the newspaper has does not explain why demonstrators would want an illiquid sign recently introduced as a means of payment or why demonstrators need special payment solutions.
The founders announced a series of airdrops in hopes attract the attention of Uniswap buyers, where they released a couple of FLYDs on Ether (ETH). You have promised dedicate part of the proceeds from his “plan” to the Floyd family and the “BLM movement”. Although the BLM movement (Black Lives Matter) has a centralized unit After formulating guiding principles and accepting donations, the organization is largely decentralized.
The FLYD project does not indicate how the recipients are selected from the BLM organization.
Cointelegraph tried to contact the project but has not yet received a response.
The role of cryptocurrency in protests
As Cointelegraph previously reported, one person was photographed with a sign that says “Bitcoin will save us” during the protests that many in the community regarded as tasteless.
Speaking of recent events, Ethereum co-founder Vitalik Buterin expressed his opinion that cryptocurrencies are not just “a protest against fiat money”, stressed other forms of decentralization are allowed through censorship-resistant blockchains.
The Hong Kong protests in 2019 led to a local increase in the interest of cryptocurrencies.