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.