After 6 years, the Dogecoin Foundation is formally re-established by the team.
Elon Musk's interests are represented on the foundation's advisory board by Vitalik Buterin, Billy Markus, Max Keller, and Neuralink CEO Jared Birchall.
The Dogecoin Foundation is returning to help core developers and projects that benefit the meme-based cryptocurrency after nearly a year of near-total public silence.
The Dogecoin Foundation said on Tuesday that it will be reestablishing itself in order to serve the Dogecoin (DOGE) community and promote the blockchain's future.
The organization said it would announce new programs in the coming weeks to promote DOGE acceptance and utility, with the goal of “increasing Dogecoin uptake at the grassroots.”
The release stated,
"The Foundation holds the Dogecoin mark and the Dogecoin Logo and will maintain them for the community."
“This will allow the Dogecoin Foundation to continue to preserve the Dogecoin Brand while also allowing (under a very liberal license) the use of it for Dogecoin-related memes, projects, and fun.” —
On this one, we've got your back.”
According to the foundation, it hopes to acquire a three-year budget to hire team members to help it achieve its objectives.
Ethereum co-founder Vitalik Buterin, Dogecoin co-founder Billy Markus, and Dogecoin core developer Max Keller are listed as advisery board members on the project's website.
Elon Musk, the CEO of Tesla and a proponent of the DOGE, will reportedly be represented by Neuralink CEO Jared Birchall.
The foundation was founded in 2014, months after Dogecoin founder Jackson Palmer launched the initiative on Twitter as a joke. Since then, it has made several charity contributions both inside and beyond the crypto industry.
The group has mostly gone silent when several of its founders — Ben Doernberg and Eric Nakagawa — quit the original foundation.
DOGE's price has grown more than 19% in the last week, reaching $0.32 at the time of writing.