Lamb of God and Dez Fafara’s Randy Blythe post Back New Cryptocurrency Chakra Coin from DevilDriver appeared first on Consequence.

Lamb of God frontman Randy Blythe and DevilDriver frontman Dez Fafara have backed a new cryptocurrency called Chakra Coin.

While many groups have gotten into crypto through NFT, Blythe and Fafara have taken it a step further by investing in a whole new cryptocurrency. According to a press release, the Chakra Coin was designed to “foster community and invest in charitable causes”.

It will be a fully community-owned “deflationary token” that will decrease its supply in the market over time and generate passive income. This factor implies that the users or the project team will participate in activities that reduce the supply of the coin on the blockchain (by Yahoo). Essentially, as the coin is bought and traded, its value will increase, generating profits that can be spent on charitable causes.

The press release says the Chakra Coin team “is committed to donating a portion of the proceeds to various causes and hopes to encourage the whole community to do the same.”

“I believe in Chakra Coin,” said Fafara, who also runs Coal Chamber. “We started this business to create a community of giving back and paying forward. I will donate part of the proceeds to several charities. I hope everyone who participates in Chakra Coin will do the same, creating a better world and a more cohesive existence for everyone involved.

In more technical terms, the Chakra Coin combines “a profitable return generating DeFi and a safe reserve of value, a cryptocurrency without gas, without friction or borders” with a “disruptive objective” to help “introduce a level of. fairer economic life. ”As an outspoken activist, this is something Randy Blythe can support.

“The potential of blockchain technology, including DeFi and cryptocurrencies, to create a more equitable system for distributing wealth is very intriguing to me,” Blythe said. “I hope that being involved downstairs with a cryptocurrency community that has a charitable component as one of its major tenants will be a small step towards creating a fairer economic system. and more selfless for everyone. “

Blythe and Fafara stress that they are not financial advisers and encourage anyone interested in investing to do their own research or consult a financial expert before purchasing Chakra Coin or any cryptocurrency.

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Concluded Fafara: “Dogecoin, Shiba Inu, Safemoon and everything that is going on with cryptocurrencies is extremely exciting. I hope Chakra Coin will encourage others to share the wealth with the less fortunate.

For more information on Chakra Coin, visit the official website.

Lamb of God’s Randy Blythe and DevilDriver’s Dez Fafara Support New Chakra Cryptocurrency
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