---
title: Gridcoin Foundation
layout: wiki
description: Information about the Gridcoin foundation fund
---

# Introduction

The Gridcoin foundation is a fund used for development, sever cost, or
for any expenses or uses approved in [polls](voting "wikilink"). 

The foundation is currently on the address `bc3NA8e8E3EoTL1qhRmeprbjWcmuoZ26A2`. 
Donations there are accepted and welcome. It is a [multi-sig](https://en.wikipedia.org/wiki/Multisignature) wallet with 
three different keyholders (iFoggz, ravonn, and quezacoatl) and requires 
at least two of them to agree (sign with their keys) before any funds can be sent. 

As of February 2021, the Foundation has around 30 million Gridcoin. You can
track how much it currently has [here on Gridcoinstats.eu](https://main.gridcoinstats.eu/address/bc3NA8e8E3EoTL1qhRmeprbjWcmuoZ26A2)  

# History

The foundation was started with the transition from [Gridcoin-Classic](gridcoin-classic "wikilink")
to modern day Gridcoin. The coins that were not converted were originally 
put into an address run by the pseudonymous founder Rob Halförd[^1] on the address `SFLRgjBx5HAtR5dedegRLUbQVS6ejvdu6j` (don't send coins to that address --- it is no longer in use).

In 2019 it was transferred over to its current multisignature address[^2]. This
helped deal with some of the concerns of just one person having control over 
the funds.

The longest running use of foundation funds so far has been compensating development. Originally
developers would invoice this through CryptoCurrencyTalk[^3], but it is now done through the Gridcoin Discord
on the `#conpensation` channel

# Things to Note

* The Gridcoin foundation is not an organization
* The foundation wallet can't [stake](staking "wikilink") due to it being a multisignature address
* There are nearly always discussions about future plans for the foundation. The 
future purpose and use of the foundation is up to the community to decide



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# Footnotes

[^1]: Not referring to the actual artist. They used Rob Halförd as a username/pseudonym
[^2]: See <https://steemit.com/gridcoin/@barton26/gridcoin-foundation-wallet-is-now-multi-sig>
[^3]: See the old thread here <https://cryptocurrencytalk.com/topic/85404-developer-compensation-retired/>
Create Basic Page About the Foundation
Create Basic Page About the Foundation
