The Dogecoin Foundation has launched a call for an unspecified amount of funding, with the aim 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 X of the Dogecoin Foundation (formerly known as Twitter). job on Sunday.
Donations will be used to build Dogebox, a decentralized payments infrastructure that aims to empower small and medium-sized businesses.
“(Dogebox is) the vehicle we envision to onboard the first million core retailers to accept Dogecoin as a direct payment layer,” the Dogecoin Foundation said in a social media statement on Monday.
The amount of funds developers aim to raise in 2025 remains unclear. The Dogecoin Foundation did not immediately respond to Decrypt requests for comments.
Dogecoin is trading at $0.40 at the time of writing, just days after eclipsing a three-year high price of $0.475, according to to CoinGecko data. The token is down 3% in the last 24 hours.
Founded in 2021, the Dogecoin Foundation has received multiple capital injections of undisclosed amounts from Ethereum founder Vitalik Buterin, as well as an anonymous mega-holder of Dogecoin, according to the Dogecoin Foundation.
However, it is unclear whether any of these donors will continue to sponsor the Dogecoin Foundation.
Ethereum by Buterin is grappling with an identity crisis alongside ongoing 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 request for comments on the subject.
Dogebox will allow 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 is intended to be a robust ecosystem for decentralized payments.
Decentralized infrastructure is the crown jewel of the Dogecoin Foundation’s trailmap, a broad community-led plan for the Dogecoin blockchain and ecosystem.
It consists of three stages: growing the Dogecoin development community and making it more accessible; lower the entry barrier for Dogecoin and prepare it for commercial use; and increase the global throughput of Dogecoin to meet expectations for global monetary scalability.
The recent roadmap of the Dogecoin Foundation update shows that these first two objectives are achieved at 90% and 100% respectively. However, the Trailmap’s final goal is still largely a work in progress.
Edited by Sébastien Sinclair
Daily debriefing Newsletter
Start each day with the biggest news stories of the day, plus original features, a podcast, videos and more.