New Token to be Launched in PH to Build Houses for the Homeless

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  • The AWU Foundation has partnered with crypto exchange Coexstar and blockchain platform provider to launch the HOMS token, aiming to finance housing construction for the homeless in the Philippines.
  • The foundation’s mission is to address the housing crisis for the underprivileged, acknowledging the presence of 4.5 million homeless individuals in the country.
  • The launch event, held at the Dusit Thani Manila in Makati, saw the participation of 200 delegates, including business leaders, and government officials.

To address homelessness in the Philippines, the Always With Us (AWU) Foundation partnered with crypto exchange Coexstar and blockchain platform provider to launch HOMS token. Through this cryptocurrency, the foundation aims to finance the construction of housing for homeless Filipinos.

Mr. Lee ( fourth from right) with esteemed guests Sec Panelo Salvador, Ms. Kaydee Velasco, Lim Kyung-taek, Ramon Gutierrez, Kim Seongwoo
Mr. Lee ( fourth from right) with esteemed guests Sec Panelo Salvador, Ms. Kaydee Velasco, Lim Kyung-taek, Ramon Gutierrez, Kim Seongwoo

Crypto for the Homeless

The AWU Foundation said its mission is to provide housing for the underprivileged, noting that the housing crisis affecting the homeless remains a pressing issue.

Following this, the foundation also highlighted that there are 4.5 million homeless individuals in the Philippines.  

AWU Foundation Group Photo
AWU Foundation Group Photo

What is the HOMS Token?

Highlighting the significance of affordable housing as a part of the United Nations’ sustainable development goals (SDGs), the foundation ventured into cryptocurrencies to fund their initiatives. 

“Through the HOMS token, the homeless will finally get what they deserve: the dignity that comes with shelter,” Chairman Lee, the founder of AWU Foundation, stated. 

AWU Foundation guest
AWU Foundation guest

Partnership with Coexstar and BLX

The peer-to-peer trading of the HOMS token will be handled by Coexstar while BLX will be in charge of the issuance.

“The fact that BLX is already widely in use by the business community in the Philippines is perfectly aligned with the goals of the AWU Foundation: We want business leaders, innovators, and technologists to lend their expertise in addressing the housing crisis,” said Lee. 

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In the initial phase of the project, 1,000 homes will be constructed in the Philippines, with each home being uniquely represented by a non-fungible token (NFT).

Those who are interested in contributing to this cause may acquire the HOMS token, the proceeds are directly allocated towards the construction of homes for the homeless, the foundation stated.

Sec. Panelo Salvador
Sec. Salvador Panelo

Launch Event

The AWU Foundation officially launched the project on Thursday, June 15, 2023, at the Dusit Thani Manila in Makati. The event witnessed the presence of 200 delegates from Thailand, Vietnam, South Korea, India, Singapore, and the Philippines including business leaders and government officials.

According to the Foundation, the attendees were actors Ramon Gutierrez and Philip Salvador; Jack Ponce Enrile, Chairman of First Shoshin Holdings Corp; Mr. Seung Chan Lee, AWU Foundation Secretary General; Ms. Kaydee Velasco, AWU Foundation Ambassadress; Sec. Salvador Panelo, former presidential spokesperson of the Philippines; and Hon. Crispin Reyes, Barangay Chairman of Silang Cavite.

Vietnam Delegate
Vietnam Delegate

Crypto and NFT for a Cause

Last April, Jon Blaylock, the CEO of blockchain-based investments firm 3lock initiated a donation campaign named “Project Ophir Crypto.” This drive aims to provide assistance to grassroots churches in the Philippines and other developing nations across the globe.

In 2021, Binance Charity launched an extensive NFT tree planting campaign known as Tree Millions Alliance which aims to plant 10 million trees globally. Donors will receive NFT certificates to commemorate their participation in the initiative.

The “Walang Katulad” collection of Filipinas NFT, an initiative led by women, promised 10% of the sales from the project will be donated to their chosen charity, I Support The Girls Manila.

Also read BitPinas crypto donation series:

This article is published on BitPinas: Foundation to Launch New Token to Build Houses for the Homeless

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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