The Dogecoin Foundation announced exciting news for the Dogecoin community on Saturday. The foundation created the Dogecoin Core development fund to increase Dogecoin development activity and benefit the overall Dogecoin ecosystem. The meme coin community reacted positively to the development and saw the DOGE price increase by over 2% in just one hour.
Dogecoin Core Development Fund
In an official announcement on December 31, the Dogecoin Foundation announced the establishment of a new community Dogecoin Core development fund. As the name suggests, the fund will support core development activities in the network. The Dogecoin Foundation initially transferred 5,000,000 DOGE to the development fund.
The fund is managed by the current core developers and the Dogecoin Foundation board director signatories. To maintain transparency, the team will publish blog posts about all expenditures and developments.
The new multi-signature wallet will be operated by Dogecoin Core developers and members of the Dogecoin Foundation. Those responsible include Chromatic (Dogecoin Core developer), Marshall Hayner (Dogecoin Foundation Board), Michi Lumin (Dogecoin Core developer), Patrick Lodder (Dogecoin Core developer) and Ross Nicoll (Former Dogecoin Core developer). As you can see, the wallet has 5 custodians and at least 3 signers are needed to perform the transactions.
Koinfinans.com As we reported, the Dogecoin Foundation announced that it has funded the multi-signature address with 5 million DOGE. According to BitInfoCharts, the wallet address currently holds 4,999,999.90 meme coins worth about $342,000. Additionally, the Dogecoin Foundation has added Marshall Hayner to its board of directors for his contributions to Dogecoin development.
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