Dogecoin Foundation is seeking funding to develop ‘Dogebox’
The Dogecoin Foundation wants to raise money now that the re-election of Donald Trump as US president has taken the crypto market to record highs. In a detailed post recently posted on In the coming year, the popular memecoin’s ecosystem plans to expand into a new service called Dogebox, which will require funding.
Dogecoin, which is currently trading at $0.3863 (roughly Rs. 32.5) on global exchanges, has been called the ‘people’s crypto’ by Elon Musk, who believes that DOGE has more day-to-day utility compared to other crypto assets like BTC and ETH. .
Through Dogebox, the ecosystem developers want to onboard the “first million grassroots retailers to accept Dogecoin” as a payment option. This project is part of the open source work that the Dogecoin Foundation has been working on for a while.
The Dogecoin Foundation’s X-post explained the concept of Dogebox: “The Dogebox Decentralized Infrastructure System will enable everyday businesses to self-host and manage their own online stores, build integrations with existing systems and regular make possible. runners to participate in decentralized payment systems that will reward them when people spend their Dogecoin on goods and services in their neighborhood.”
The Dogecoin Foundation is a non-profit organization that has built open source projects for the Dogecoin ecosystem and currently employs a number of full-time developers working on a range of projects to benefit the Dogecoin community.
Our goal since 2021…
— Dogecoin Foundation (@DogecoinFdn) November 24, 2024
Although the foundation has asked investors to contact them with their proposals, the organization has not specified the amount of funding it plans to raise to develop Dogebox.
The foundation aims to provide people with alternatives to traditional financial practices, including banks, brokers and other third parties, to facilitate transactions between two parties.
“We are currently looking for major sponsors for 2025, to jointly benefit from building open source tools for the future of decentralized payments: putting crypto to work for its intended purpose, as a medium of exchange, free from tyranny for the entire humanity,” the spokesperson said. tweet noted.
For now, the foundation has not announced a specific timeline for Dogebox’s development.
In 2023, the Dogecoin Foundation had launched a fund pool of five million DOGE tokens aimed at financing the growth of the memecoin.
Open interest in Dogecoin this week reportedly crossed $4 billion (approximately Rs. 33,725 crore), marking the all-time high for memecoins in terms of futures traders’ bets.
