Crypto exchange OKCoin pledges to donate up to 1,000 bitcoins to developer community

Bitcoin • September 3, 2019, 12:02PM EDT
UPDATED: September 3, 2019, 12:34PM EDT
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Cryptocurrency exchange OKCoin has pledged to donate up to 1,000 bitcoins (currently worth ~$10.6 million) to developers of bitcoin (BTC), bitcoin cash (BCH) and bitcoin Satoshi vision (BSV).

OKCoin has selected 11 developers and projects for the donation, including Jimmy Song, Luke Dashjr, Ben Woosley, Bitcoin Association and Bitcoin Unlimited, among others. Crypto “enthusiasts” can vote for which developer and project they would like to receive a donation.

For every vote received, OKCoin said it will send 0.02 BTC (or the BCH or BSV equivalent) on the voter’s behalf to the selected project. Once the campaign ends on Sept. 27, the amount raised per project will be divided and evenly distributed among the developers and projects.

The exchange said those selected are “verified” and have fulfilled the “specifications” of the initiative, without giving specific details. “The intention is not to put one project against the other. Instead, the initiative aims to highlight the shared history, the different approaches and positions taken, and to garner community support towards those focused on building and moving the projects forward,” said OKCoin. 

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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