HashCash Consultants plans the newest crypto asset to launch promising earnings potential amid the atrophying world financial system and coronavirus catastrophe.
On March 23, HashCash announced are upcoming "Corona Fund Index Cryptocurrency" (CFIX), which guarantees merchants the chance "to make a revenue even throughout a bear market attributable to a corona disaster".
The press launch describes the cryptocurrency as inversely correlated to the S&P 500 by "the help of an inverse exchange-traded fund (ETF)".
CFIX is linked to Tether (USDT) and is scheduled to launch on April 2.
90% of the CFIX revenue is donated to "Corona Aid Fund"
The corporate claims that 90% of CFIX's buying and selling prices will probably be diverted to its Corona Aid Fund – which claims to donate to "numerous non-profit organizations and people actively preventing the worldwide pandemic disaster."
As such, Hashcash & # 39; s website states that the general mission of the undertaking is "to stop the depletion of sources obligatory for the event of superior remedies, vaccines and medicines".
The corporate accepts purposes from non-profit organizations and doesn’t seem to have the names of accomplice organizations listed on its web site.
Based on HashCash Consultants CEO Raj Chowdhury, the event of CFIX was motivated by the corporate's objective to “present monetary help to nonprofit and analysis organizations preventing the COVID-19 disaster”.
"The ETF's help boosts CFIX, which not solely advantages merchants, but in addition permits us to lift extra funds for anybody affected by Novel Coronavirus, which is the last word objective of this initiative," added Chowdhury to.
Controversial CoronaCoin guarantees revenue if the pandemic worsens
On February 12, builders from 4Chan arrived launched "CoronaCoin" (NCOV) – an ERC-20 token with a inventory equivalent to the world's inhabitants that will probably be burned each 48 hours based mostly on the variety of COVID-19 infections and fatalities.
Regardless of the claims of the builders of NCOV, the CoronaCoin worth is down 83% in 30 days and misplaced 20% of simply $ 16,244 in quantity up to now 24 hours.
Cointelegraph contacted HashCash Consultants and obtained no press launch.