The ApeCoin community has made a significant contribution to the development of Ethereum by donating $1 million to fund public goods and further development work.
The proposal, AIP-230, titled “I don’t hate apes, I just want them to fund public goods!” was passed by the community after a vote.
The donation aims to give back to the Ethereum community, promote development work around account abstraction, and introduce developers to ApeCoin.
The ApeCoin community plans to donate $300,000 to ETHGlobal and allocate $700,000 to fund 11 ApeCoin hackathons and at least five public good initiatives.
The community will select the judges for the hackathons, and $50,000 in prizes from the $700,000 will be used for account abstraction and initiatives related to NFTs, DAOs, and zk scaling. An Ethereum proposal, called EIP-4337, related to account abstraction, is already in the works.
The motivation for the donation was to support Ethereum as ApeCoin would not be possible without it. As a public good, Ethereum benefits from shared responsibility and collective appreciation, and the ApeCoin community should make a concerted effort to support this ecosystem.