Dogecoin Core – A New Community Development Fund
We are delighted to reveal the formation of a new Dogecoin Core development fund, which will be overseen by the existing core developers and board directors of the Dogecoin Foundation. Furthermore, all expenses and progress made will be documented in upcoming transparency blog posts. To support this initiative, 5 million Dogecoins have been transferred to the fund from the Dogecoin Foundation with an aim to invest in developing Dogecoin Core, which is necessary for the prosperity of the Dogecoin ecosystem.
This wallet has been specially created to oversee a total of 5,000,000 DOGE. It is a multi-signature segregated wallet that will distribute rewards to developers who have contributed to Dogecoin Core, regardless of the magnitude of their contribution.
The new multi-signature wallet will be managed by the Dogecoin Core developers and members of the Dogecoin Foundation. It is designed with a three out of five signature threshold, and the custodians are as follows:
- chromatic (Dogecoin Core developer)
- Marshall Hayner (Dogecoin Foundation Board)
- Michi Lumin (Dogecoin Core developer, Dogecoin Foundation Board)
- Patrick Lodder (Dogecoin Core developer)
- Ross Nicoll (Former Dogecoin Core developer)
The address can be found here:
The wallet shall operate as follows:
- With every major or minor release of Dogecoin Core, 500,000 DOGE shall be distributed among all contributors credited in the release notes since the previous major or minor release, exclusively. A release must meet a threshold of at least 25 non-whitespace/comment-only pull requests to qualify as a major or minor release. These are the only permissible transfers out from this wallet.
- The height of the payout for each individual contributor will be weighed based on the process used for the Dogecoin Core tip jar, to minimize duplication of work, or based thereon if no functional Dogecoin Core tip jar exists at that time.
- Custodians do not have any rights to the money held in the wallet, individually or as a group.
- All distributions shall be publicly announced and distributed widely across social media channels to the best of the abilities of the custodians.
- A custodian can only request succession for their own slot but cannot nominate their successor. The remaining custodians shall publicly nominate a replacement and unanimously agree on the appointment of the successor. When this process is completed in full and a successor is appointed, the custodian is relieved of all duties.
- If a custodian is unreachable without notice for a period of 3 months or more, the remaining custodians shall initiate a succession process under clause 5. The affected custodian shall be permitted to return to active duty until the succession process has been completed in full.
We are also delighted to have Marshall Hayner join the Dogecoin Foundation’s board of directors. His unwavering loyalty to the Dogecoin community and its growth has been a source of motivation for many. Marshall brings his expertise in management and technology to the Dogecoin Foundation, and has been a major player in setting up Core’s development fund.
The Dogecoin Foundation sends its best wishes this holiday season to you and your loved ones. We hope you find joy and cheer in being with those closest to you, and taking care of yourselves!