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Poloniex enables GrinMW withdrawals by donating 1.27864 BTC to Grin General Fund




Poloniex enables GrinMW withdrawals by donating 1.27864 BTC to Grin General Fund
Source: Unsplash

Grin is a privacy and security-focused cryptocurrency that is completely community-driven and Poloniex was the first exchange to list it. Withdrawals for Grin have finally started on the exchange, according to their recent tweet.

Poloniex tweeted,

“Grin withdrawals are now live and we’ve made our first monthly donation—1.27864 BTC—to the @grinMW General Fund. #grin #mimblewimble”

Poloniex was satisfied with their decision to list the coin after seeing it develop over the months. In their blog, Poloniex stated,

“When we listed Grin, we pledged to provide a portion of our transaction fees to the Grin General Fund for a year — 50% for the first month and 25% for the next 11 months.
We are committed to providing monthly donations because we believe in supporting crypto projects which encourage distributed voluntary development and fair, decentralized methods of token distribution.”

As a result, Poloniex plans to support Grin developers by donating funds to the project. Grin’s mainnet launched on 15 January, 2019, and the community welcomed it with open arms.

Grin is focused on privacy, security, scalability, and fungibility, and is built by implementing MimbleWimble technology, which was proposed by Tom Elvis Jedusor in July 2016. The proposed technology gained a lot of traction in the Bitcoin community.

Poloniex is all for new crypto projects that are promising, as it stated in the blog,

“Grin is just one asset that represents our dedication to moving the crypto space forward. You can expect more from us in the weeks and months ahead …”

A Twitter user, @JEhrenhofer, commented,

“Great! Will you donate a fraction of profits to other projects without founder rewards?”

@21xHipster, another Twitter user, commented,

“What is #GRIN ?
Compact 5mb file that syncs full 2-month chain in 10 (!) minutes on dubious connection in the hotel …
Amazing, respectful, state of an art piece of software that pursue existential purpose of ultimate privacy.
All involved, @grinMW, @grincouncil thanks”

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