At the Ethreal summit 2019, Spankchain and MolochDAO’s founder Ameen Soleimani announced the donation from Ethereum’s funder Vitalik Buterin and Joe Lubin for the Ethereum project MolochDAO.

MolochDAO is a decentralized crowdsourced fund started by Ameen Soleimani to fund Ethereum infrastructure development projects. It was started with the goal of funding the next major iteration of Ethereum, Ethereum 2.0.

Both Vitalik Buterin and Joseph Lubin will be donating 1000 ETH for the project. Moreover, an additional 2000 ETH has been provided by Conesensys and the Ethereum foundation. That makes it a total of 4000 ETH of donation or $700,000.

MolochDAO initially started with the 22 people depositing 100 ETH each. That amount of ETH will be worth $17,000 at the current market price. With Vitalik’s and Joe’s donation, MolocDAO’s funding pool now becomes over $1 million.

“Moloch is a very innovative structure and I expect it to take off and be a significant factor in helping drive development throughout the Ethereum ecosystem,” says Joseph Lubin, the founder of ConsenSys.

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