The Dogecoin Foundation confirmed the establishment of a new community Dogecoin Core development fund.
Initially, the Dogecoin Foundation transferred 5,000,000 DOGE to the development fund.
The Dogecoin community reacted warmly, leading the DOGE price to rise by more than 2% in less than an hour.
exciting news for the Dogecoin community.
The foundation has established a new community Dogecoin Core development fund to boost Dogecoin development activity and benefit the wider Dogecoin ecosystem. The Dogecoin community reacted warmly, leading the DOGE price to rise by more than 2% in less than an hour.
The Dogecoin Foundation confirmed the establishment of a new community Dogecoin Core development fund in an official announcement on December 31. Initially, the Dogecoin Foundation transferred 5,000,000 DOGE to the development fund.
The development is overseen by existing core developers and Dogecoin Foundation board director signatories. The team will ensure that 5 million DOGE are provided to Dogecoin Core. The Core's development is vital and beneficial to the Dogecoin ecosystem. To preserve transparency, the team will produce blog postings about all expenses and developments.
Dogecoin Core engineers and Dogecoin Foundation members will run the new multi-signature wallet. The DOGE held in the wallet will be distributed efficiently to Dogecoin Core devs. This requires three of the five custodians to sign.
Chromatic (Dogecoin Core developer), Marshall Hayner (Dogecoin Foundation Board), Michi Lumin (Dogecoin Core developer, Dogecoin Foundation Board), Patrick Lodder (Dogecoin Core developer), and Ross Nicoll are among the custodians (Former Dogecoin Core developer). The custodians have no claim to the money in the wallet.
According to BitInfoCharts, the wallet address currently holds 4,999,999.90 DOGE tokens worth almost $342K.
Furthermore, the Dogecoin Foundation has appointed Marshall Hayner to its board of directors in recognition of his contributions to Dogecoin development.
Dogecoin's price has risen in recent weeks after Elon Musk hinted at integrating Dogecoin payments into Twitter. The DOGE price increased by 2% in less than an hour after the Foundation announced the development fund.
DOGE is trading at $0.0702 at the time of writing, up roughly 4% in the last 24 hours. The low and high for the day are $0.0669 and $0.0703, respectively.
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