Food Bank was launched on the 18th September 2021 and is a smart contract token which functions as a peer to peer medium of exchange on the Binance Smart Chain Network, providing much needed funds and support to foodbanks. Funds are raised via a transaction tax on all purchases and sales of the token. The charity donation is then donated to foodbanks suggested to us by the token holders. This allows the holders of FOOD to see the benefits of their investment, in their local communities.
Food Bank made its first Charity donation in December 2021 and it’s first 10% token burn in January 2022.
The total supply of FOOD will be reduced by 50% as part of a series of planned 10% burns dictated by the number of holders. The intention is to increase scarcity of the token and therefore increase the token price as holder numbers increase.
Food Bank aims to bring long-term sustainability to its full ecosystem, including NFTs, merchandise and staking, therefore encouraging holding FOOD tokens as a long-term asset. Our target holders are Millennials and GenZ who, like us are frustrated at the impotence of governments to end food poverty in developed countries where food banks are becoming more and more common.