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The community behind ApeCoin (APE) has donated $1 million to support the development of the Ethereum (
$2,352.29 ) blockchain, as per a recent voting proposal.
The community-led initiative titled “I don’t hate apes, I just want them to fund public goods!” referencing a tweet by Ethereum ( $2,352.29 ) co-founder Vitalik Buterin — received a majority of the votes in favor of the donation.
APE is a popular cryptocurrency linked to the Bored Ape Yacht Club —a collection of unique digital ape NFTs. The $1 million donation from the ApeCoin community will boost the ongoing development of the Ethereum ( $2,352.29 ) network — which has been crucial to the growth of the entire cryptocurrency ecosystem.
The voting proposal received 15,772 votes — with 7,286 votes in favor, 4,737 against, and 3,749 abstaining.
ApeCoin proposal vote results: Snapshot.
ApeCoin community donation goals
The ApeCoin community had a multi-faceted proposal that served multiple purposes, such as supporting the Ethereum ( $2,352.29 ) community, promoting development efforts concerning account abstraction, and familiarizing developers with ApeCoin.
As part of the proposal, the community plans to donate $300,000 to ETHGlobal to facilitate its objectives. The remaining $700,000 will be allocated towards organizing 11 ApeCoin hackathons and supporting at least five public good initiatives.
The proposer of the donation, Maariab — an ex-ApeCoin special council member — mentioned that the ApeCoin community would have a say in choosing the judges for the hackathons. The main driving force behind the proposal was the desire to support and contribute to developing the Ethereum ( $2,352.29 ) network.
According to Maarib, “ApeCoin would not be possible without Ethereum ( $2,352.29 ) ,” adding that:
“As a public good, Ethereum ( $2,352.29 ) benefits from shared responsibility and collective appreciation, and the ApeCoin community should make a concerted effort to directly support this ecosystem.”
A proposed Ethereum ( $2,352.29 ) Improvement Proposal (EIP-4337) is already in progress to address account abstraction on the network.
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