3 Jan

Dogecoin Foundation Allocates $360,000 to Development Fund

• The Dogecoin Foundation has announced a 5,000,000 DOGE ($360,000) development fund meant for developers.
• As part of the process, the foundation would distribute 500,000 DOGE to the developers after the Dogecoin Core records a minor or major advancement.
• The funds would first be moved to a „segregated multi-signature wallet,“ and would be run by members of the foundation.

The Dogecoin Foundation recently made a huge announcement, revealing that it has allocated 5,000,000 DOGE ($360,000) to a development fund for developers who contribute to the Dogecoin ecosystem. This fund is intended to reward developers for their hard work and dedication to the project, and the foundation has put certain processes in place to ensure that the money is distributed fairly.

The first step in the process is to move the funds to a “segregated multi-signature wallet,” which will be overseen by members of the foundation. This wallet will be used to disburse rewards to developers of Dogecoin Core for work on all contributions, regardless of size. 500,000 DOGE will be distributed to developers after the Dogecoin Core records a minor or major advancement, and the amount of the reward will be based on the actions of the individual contributor.

The custodians of the wallet will have no access to the funds either as individuals or as a group. Each custodian can only request secession for their slot, and the remaining custodians must publicly nominate a replacement and unanimously agree on their appointment. In the event that a custodian is unavailable without notice for at least three months, the other custodians will initiate a replacement process.

The Dogecoin Foundation’s new development fund is a huge step forward for the project and is sure to be welcomed by the community. It is a testament to the dedication of the foundation and its members, and it will undoubtedly help to further the development of the Dogecoin ecosystem.