The Dogecoin Foundation has put out a call for an unspecified amount of funding, with the goal of growing the community through future network development.
Developers are seeking several major sponsors in 2025 to fund efforts to drive mass adoption, according to the Dogecoin Foundation’s X (formerly known as Twitter) post on Sunday.
The donations will go toward building Dogebox, a decentralized payment infrastructure that aims to empower small and medium-sized businesses.
“[Dogebox is] the vehicle we envisage for onboarding the first million grassroots retailers to accept Dogecoin as a direct payment layer,” the Dogecoin Foundation said Monday in a statement on social media.
The amount of funds developers aim to raise in 2025 remains unclear. The Dogecoin Foundation did not immediately reply to Decrypt’s requests for comment.
Dogecoin is trading at $0.40 as of writing time, just a few days after eclipsing a three-year-high price of $0.475, according to CoinGecko data. The token is down 3% in the past 24 hours.
Founded in 2021, the Dogecoin Foundation has received several capital injections of undisclosed amounts from Ethereum founder Vitalik Buterin, as well as an anonymous Dogecoin mega-holder, according to the Dogecoin Foundation.
However, it is unclear if either of those donors will continue to sponsor the Dogecoin Foundation.
Buterin’s Ethereum is struggling with an identity crisis alongside persistent scalability issues, and the network’s native token remains largely stagnant amid a broader cryptocurrency market rally.
Vitalik Buterin did not immediately respond to Decrypt’s request for comment on the matter.
Dogebox will enable retailers to self-host online stores, integrate Dogecoin into existing payment systems, and allow node operators to participate in decentralized transactions. Operators will be rewarded when Dogecoin is used for goods and services, creating what’s intended to be a robust ecosystem for decentralized payments.
The decentralized infrastructure is the crown jewel of the Dogecoin Foundation’s “trailmap,” a sweeping, community-driven plan for the Dogecoin blockchain and ecosystem.
It consists of three steps: growing Dogecoin’s development community and making it more accessible; lowering the barrier of entry to Dogecoin and prepping it for use in commerce; and increasing Dogecoin’s global throughput to meet global currency scalability expectations.
The Dogecoin Foundation’s recent roadmap update shows those first two objectives are 90% and 100% completed, respectively. However, the last trailmap target is still largely underway.
Edited by Sebastian Sinclair
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Liz Napolitano
https://decrypt.co/293515/dogecoin-foundation-seeking-major-donors-to-fuel-2025-plans
2024-11-26 02:54:58
