Introduction

The Gridcoin foundation is a fund used for development, server costs, or for any expenses or uses approved in polls.

The foundation is currently on the address bc3NA8e8E3EoTL1qhRmeprbjWcmuoZ26A2. Donations there are accepted and welcome. It is a multi-sig wallet with three different keyholders (Jim Owens, ravon, and ifoggz) 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

History

The foundation was started with the transition from Gridcoin-Classic to modern day Gridcoin. The coins that were not converted were originally put into an address run by the pseudonymous founder Rob Halförd1 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 address2. 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 CryptoCurrencyTalk3, but it is now done through the Gridcoin Discord on the #compensation channel

Things to Note

  • The Gridcoin foundation is not an organization
  • The foundation wallet can’t stake 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

Footnotes