The community behind ApeCoin (APE) has donated $1 million to support the development of the Ethereum blockchain, according to a recent ballot proposal.
community led initiative titled “I Don’t Hate Apes, I Just Want Them To Fund Public Goods!” referencing a tweet from Ethereum co-founder Vitalik Buterin, received the most votes in favor of the donation.
APE is a popular cryptocurrency linked to the Bored Ape Yacht Club, an NFT collection of unique digital apes. The $1 million donation from the ApeCoin community will fuel the continued development of the Ethereum network, which has been crucial to the growth of the entire cryptocurrency ecosystem.
The ballot proposal received 15,772 votes, with 7,286 votes in favor, 4,737 against, and 3,749 abstentions.
ApeCoin Community Donation Goals
The ApeCoin community had a multifaceted proposition that served multiple purposes, such as supporting the Ethereum community, promoting development efforts related to account abstraction, and familiarizing developers with ApeCoin.
As part of the proposal, the community plans to donate $300,000 to ETHGlobal to facilitate its goals. The remaining $700,000 will be allocated to organizing 11 ApeCoin hackathons and supporting at least five public good initiatives.
The proponent of the donation, Maariab, a former member of ApeCoin’s special council, mentioned that the ApeCoin community would have a say in the choice of judges for the hackathons. The main driver of the proposal was the desire to support and contribute to the development of the Ethereum network.
According to Maarib, “ApeCoin would not be possible without Ethereum,” adding that:
“As a public good, Ethereum benefits from shared responsibility and collective appreciation, and the ApeCoin community should make a concerted effort to directly support this ecosystem.”
A proposed Ethereum enhancement proposal (EIP-4337) is already in progress to address the abstraction of accounts on the network.
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