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

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.

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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 is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.