MolochDAO receives $700,000 pledge from Buterin, Lubin, Ethereum Foundation, and Consensys employees

MolochDAO, the co-operative for funding Ethereum-based public good development, has received a pledge of 4,000 ETH, valued at approximately $700,000, from Ethereum co-founders Joe Lubin and Vitalik Buterin, the Ethereum Foundation, and 10 individual ConsenSys employees.

[related id=1]Launched in late February, the MolochDAO Guild Contract currently contains 2,277 ETH, valued at $374,723: if accepted into the co-operative, the additional pledges will take the total treasury to over $1m. The existing 27 members will have 7 days to vote on whether to accept or reject the pledges, followed by a 7 day grace period where dissenting members can choose to exit with their shares of the treasury.

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Matteo joined The Block as a Research Analyst in January 2019. After graduating from Columbia University in 2017 Matteo launched CryptoChat, an industry-leading newsletter providing commentary and analysis on the latest developments in the blockchain world, with emphasis on the burgeoning Ethereum ecosystem. Before joining The Block, Matteo was also the founder of NashHash, an Ethereum-based platform for p2p game-theory games, an advisor to several early-stage blockchain-based projects, and an active investor across the crypto asset markets. Matteo's interests include the analysis of on-chain data, which has led to the creation of the Fee Ratio Multiple and Network Value to Aggregate Fee Ratio metrics, and the intersectionality of Open Finance protocols.

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