The Dogecoin Foundation and its board of directors have recently announced the creation of a new developer fund.
The Foundation has allocated 5,000,000 DOGE for this fund in order to foster the development of the Dogecoin Core platform.
The development fund is managed by existing core developers and board director signatories.
All payments will be tracked and reported on across all social media platforms used by the Foundation during each release cycle.Payments will be awarded in accordance with a weighted system based on the existing Dogecoin Core tip jar program.
The fund is secured using a multi-signature wallet protected by three out of five signatures from custodians selected by the Foundation board. It has been announced that 500,000 DOGE will be disbursed to contributors credited in each core release for every major or minor update.
Should a custodian become unreachable within a period of three months or more, their replacement must be unanimously approved by the remaining custodians following their own nomination process.
Marshall Hayner joins Dogecoin Foundation's board
In addition, the Dogecoin Foundation recently announced the addition of Marshall Hayner to their board of directors. With his many years of involvement in the Dogecoin community and development of the cryptocurrency, Hayner has earned a reputation as a major figure in the space.