Urgent Update and News

The Grantcoin Foundation has several news items to report:

1. Grantcoin will no longer be available for trading on Bittrex as of this Saturday, March 18. Grantcoin will continue to trade on SouthXchange (see their GRT/BTC and GRT/USD markets).

IMPORTANT: Anyone who holds Grantcoin on Bittrex should withdraw your GRT balance to an external wallet or to SouthXchange by March 18. If you don’t withdraw, you could lose whatever GRT you hold on Bittrex.

Bittrex was not a good fit for Grantcoin, because their business model emphasizes high-volume cryptocurrencies that are frequently day-traded. Most investors and holders of Grantcoin, on the other hand, are holding the currency long-term and do not engage in high-frequency trading.

The delisting from Bittrex changes nothing about the Grantcoin project. The Grantcoin team continues to actively develop our organization, technology, and Grantcoin Basic Income distribution program. Grantcoin can still be publicly traded on SouthXchange, and we will be pursuing additional third-party exchanges and solutions to make it easier for ordinary people to acquire and trade Grantcoin for other currencies — especially major currencies such as U.S. Dollars and Euros.

2. Over $1,700 has been raised during the past two months, from 25 new donors in several countries. This is a significant increase from the rate of donations last year — and if this continues, our organization will be at least minimally financially sustainable. We want to thank everyone who has recently donated. You’re helping to keep the Grantcoin project going and giving hope to thousands of people in impoverished parts of the world.

3. Over 2,000 people have now signed up for Grantcoin Basic Income. Most of them are in developing countries in Africa, Asia, and Latin America — places where a small basic income subsidy, saved over a period of years, could really make a difference in people’s lives.

4. We’re developing a Grantcoin savings account program for children in developing countries. Our team is drafting a proposal to present to two charities, one in Africa and one in Latin America, which have already expressed interest. We hope to expand the program to more charities in the future.

5. Ekata Social has started building an automated wallet creation system for recipients of Grantcoin Basic Income. We expect this to be ready by the next Grantcoin distribution at the end of April. This new technology will significantly reduce the workload of the Grantcoin team and enable the continued rapid growth of our Basic Income program.

We’re excited about all the great things that are happening for Grantcoin, and working hard to keep this world-changing project moving forward. Thank you for your support!

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