Dogecoin Foundation issued a request for funding of an undisclosed amount with aims to expand the community via future network developments.
Dogecoin Foundation X’s (formerly Twitter) X reports that developers will be seeking major sponsors by 2025 in order to finance efforts for mass adoption. Post by Sunday is a holiday.
The money will help build Dogebox – a payment system that is decentralized and aims at empowering small to medium sized business.
“[Dogebox is] the vehicle we envisage for onboarding the first million grassroots retailers to accept Dogecoin as a direct payment layer,” In a Monday statement posted on social media, the Dogecoin Foundation confirmed this.
Uncertain is the amount that developers intend to raise for 2025. Dogecoin Foundation has not responded to our request for comment. Decrypt's Requests for comments
Dogecoin was trading at $0.40 just days before this article. Overtaking a 3-year high Price of $0.475. You can also read about it here to CoinGecko data. The token has dropped 3% over the last 24 hours.
According to the Dogecoin Foundation, since its founding in 2021 the Dogecoin Foundation received capital injections from Vitalik buterin, founder of Ethereum, and an anonymous Dogecoin Mega-Holder.
It is not clear if any of these donors will continue sponsoring the Dogecoin Foundation.
Buterin's Ethereum The network is experiencing an identity crisis and persistent scaling issues. Its native token has remained largely static despite a rally in the cryptocurrency markets.
Vitalik Buterin didn’t immediately reply to Decrypt’s Request for comments on the subject.
Dogebox will allow retailers to create their own self-hosted online shops, integrate Dogecoin with existing payment systems, as well as let operators of nodes participate in transactions decentralized. Dogecoin will reward operators when it is used to pay for services and goods, creating a decentralized payment ecosystem.
The decentralized infrastructure is the crown jewel of the Dogecoin Foundation's “trailmap,” a community-driven and comprehensive plan to improve the Dogecoin Blockchain 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 The latest update to the website is: Shows that the first two targets are 90 and 100 percent completed. The last target on the trail map is still in progress.
Sebastian Sinclair is the editor