The Dogecoin Foundation is now looking to raise funding as Donald Trump’s re-election as US President has sent the crypto market reaching record highs. In a detailed message posted on X recently, the official handle of the Dogecoin Foundation said that it was looking for sponsors to finance its 2025 vision for the development of the Dogecoin ecosystem. In the upcoming year, the popular memecoin’s ecosystem is looking to expand into a new service called Dogbox, for which it needs funding.
dogecoinWhich is currently trading at $0.3863 (approximately Rs 32.5) on global exchanges, has been called the ‘people’s crypto’ Elon MuskThose who believe that DOGE has a higher daily utility compared to other crypto assets like BTC and ETH.
Through Dogecoin, the ecosystem developers want to engage “the first million grassroots retailers to accept Dogecoin” as a payment option. The project is part of open-source work that the Dogecoin Foundation has been working on for some time.
Explaining the concept of Dogecoin, the Dogecoin Foundation’s X post states, “The Dogecoin decentralized infrastructure system enables every-day businesses to self-host and self-protect their online shops, build integrations with existing systems, and manage regular nodes. “Runners will be incentivized to participate in decentralized payment systems that will reward them when people spend their Dogecoin for goods and services in their neighborhoods.”
The Dogecoin Foundation is a non-profit organization that is building open-source projects for the Dogecoin ecosystem, and currently employs several full-time developers to work on a number of projects for the benefit of the Dogecoin community.
Our goal from 2021…
– Dogecoin Foundation (@DogecoinFdn) 24 November 2024
While the foundation has asked investors to reach out with their proposals, the organization has not specified the funding amount it is looking to attract to develop Dogebox.
The foundation’s goal is to give people alternatives to traditional financial practices, which involve banks, brokers, and other third parties to facilitate transactions between two parties.
“We are currently looking for lead sponsors for 2025 to collectively benefit from building an open-source utility for the future of decentralized payments: bringing crypto to work for its intended purpose, as a means of exchange.” As, freeing all humanity from tyranny,” the tweet noted.
At this time, the foundation has not disclosed any specific timelines for the development of Dogbox.
In 2023, the Dogecoin Foundation did launched A fund pool of five million DOGE tokens, intended to finance the development of Memecoin.
This week, open interest for Dogecoin Allegedly Surpassed $4 billion (roughly Rs. 33,725 crores), which is the highest point for Memecoin in terms of stakes from futures traders.