2021-8-26 00:02 |
The Miley Cyrus’ Happy Hippie Foundation is now the first foundation to receive a donation from the SOS Foundation. Happy Hippie strives towards fighting the injustices plaguing homeless youth, and LGBTQ youth among other vulnerable populations.
Notably, the SOS Foundation is a decentralized and community-driven utility token whose main purpose is to provide support to humanitarian programs. It also works to preserve arts communities in addition to protecting the world’s environmental resources.
The SOS Foundation was developed to be a focal point for distributions within the SOS tokenomics. Already, the Foundation is collaborating with a number of philanthropic foundations so that it (SOS Foundation) can donate to their cause. Specifically, these philanthropic foundations are those backed by artists and celebrities. They all work towards meeting the SOS mission which comprises three different platforms from which donations come. These are: Save Our Society, Save Our Stages and Save Our Seas.
The Foundation’s token, SOS, is developed on the Binance Smart Chain (BSC). Just like Safemoon, the project benefits from 5% of buyer tax and 10% of seller tax. These taxes are not only used to support community and charity work but also to reward token holders and make part of the liquidity pool.
What’s more interesting is that a certain proportion of these taxes will be directed to a jackpot once a certain milestone in the SOS Token market cap is achieved. All SOS token holders have the opportunity to win the jackpot, with their chances increasing as they hold more tokens. Once the milestone is achieved, SOS token holders excluding the foundation and its team will be placed in a weighted lottery. From this will emerge three winners who will split the jackpot at 50%, 35%, and 15%.
Nevertheless, the SOS Foundation operates independently from the SOS token, and it also has its organizational governance and framework.
In the upcoming weeks, SOS will announce several additional partnerships. They will include top artists, celebrities, and athletes together with their respective foundations, communities, and fans. As for next month, the SOS Foundation roadmap points to a CoinGecko and CMC listing, production of monthly newsletters, and a second charity donation among other activities. In the future, the Foundation intends to make NFT giveaways, bigger charity donations, and what they call “celebrity meet and greets.”
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