The Dogecoin Foundation Has Announced the Creation of a New Fund for Core Developers

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Last Updated on January 2, 2023 by Bitfinsider

In the coming year, developers want to promote the Dogecoin ecosystem even further.

On December 31, the foundation announced the distribution of 5 million Dogecoin, which is now roughly $360,000, to the new fund to promote the growth of the Dogecoin platform.

The money, according to the Dogecoin foundation, will be housed in a new multisignature wallet administered by its members and will require three of five signatures from Dogecoin Core devs chromatic, Marshall Hayner, Michi Lumin, Patrick Lodder, and Ross Nicoll. Apart from supervising the release, these custodians will have no rights to the funds.

For each Dogecoin Core release, 500,000 DOGE will be awarded to developers that contributed to the release. To maintain openness, the team disclosed the wallet address where the funds are stored. The Dogecoin core team will also create blog pieces for all expenditures, which will be publicized by the custodians via social media networks.

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