Financing DAO Moloch increased to $ 1 million with the support of Buterin and Lubin

Financing DAO Moloch increased to $ 1 million with the support of Buterin and Lubin

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Ethereum founders Joseph Lubin and Vitalik Buterin, as well as the companies they represent – ConsenSys and Ethereum Foundation respectively – provided financial support to the decentralized autonomous organization Moloch.

This became known during the Ethereal Summit, which started in New York on Saturday, May 10. Lubin and Buterin supported Moloch Subsidiary for 1000 ETH each, with an additional 1000 ETH donated to ConsenSys and the Ethereum Foundation.

Thrilled to finally reveal that myself, @ConsenSys, @VitalikButerinand the @Ethereum Foundation are all contributing 1k $ ETH each to @MolochDAO. Huge thanks to @ameensol helping to redefine how we fund #Ethereum development. GUILD BANK NOW OVER $ 1M #EtherealNY #YearOfTheDAO pic.twitter.com/6pDsLVKCrW – Joseph Lubin (@ethereumJoseph) May 10, 2019

Taking into account the previously attracted funds, the total funding of Moloch thus increased to $ 1 million. The creator of Moloch DAO is Amin Soleimani, the CEO of the adult-oriented Spankchain platform. The aim of the project is crowdsourcing funding for infrastructure projects of the Ethereum ecosystem, focused on the transition to Ethereum 2.0.

“Our goal is to accelerate the development of Ethereum’s public infrastructure, which is needed by many teams who are unable to pay for it. By combining our ETH coins, teams that create solutions based on Ethereum can collectively fund open source projects that we consider to be in line with our common interests, ”says Moloch.

Note that this is not the first time that Vitaly Buterin provides financial support to various projects in the Ethereum ecosystem. So, in December last year, he made a donation of 1,000 ETH for startups Prysmatic Labs, ChainSafe Systems and Sigma Prime.

In addition, in February 2019, the launch of the Ethereum Community Fund (ECF) initiative was announced with the aim of creating a special fund to accelerate the development of blockchain infrastructure and Dapps. Projects such as Cosmos, OmiseGO, Golem, Maker, Global Brain Blockchain Labs and Raiden joined her, and Vitalik Buterin took the role of one of the advisers.

Financing DAO Moloch increased to $ 1 million with the support of Buterin and Lubin

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