The Dogecoin Foundation is a not-for-profit organisation charged with supporting the Dogecoin ecosystem, development of the Dogecoin core client and other software, the protection and safekeeping of the Dogecoin assets (such as the domain and accounts) including its intellectual property rights, the furthering of charity using Dogecoin and cryptocurrency more generally, as well as the education and research on the potential for positive social impact of Dogecoin and other cryptocurrencies.
The Dogecoin Foundation was initially created by the creators of Dogecoin and members of the community as an intermediary to vet charities the community would support. It quickly became clear however, that the success of Dogecoin and the potential scale of cooperation could create significant (personal) liability. As a consequence of this, the core developers, the project team, and other members of the community incorporated the Dogecoin Foundation as a not-for-profit corporation seeking tax exemption as a 501(c)(3) in Colorado, United States.
The Foundation has, directly or indirectly, supported a variety of charitable and social projects. After reaching an amicable agreement on the state of the "Doge" trademark with UltraPro LLC in 2014, the sharp rise in popularity of Dogecoin in 2021 has again elevated its role as a defender of the Dogecoin IP rights as multiple bad faith applications for trademarks have been filed around the world.
List of projects supported (outdated, partial)
- Doge4water Inspired by the Winter Olympics fundraiser and smaller charity fundraising successes, the Dogecoin Foundation, led by Eric Nakagawa, began collecting donations to build a well in the Tana river basin in Kenya in cooperation with Charity: Water. They set out to raise a total of 40,000,000 ($30,000 at the time) Dogecoin before World Water Day (March 22).
The campaign succeeded, collecting donations from more than 4,000 donors, including one anonymous benefactor who donated 14,000,000 Dogecoin (approx. $11,000). The official dogecoin address used for this fundraising was: DNfFHTUZ4kkXPnoYUvgt6BGVwonEFB1b2i.
- Winter OlympicsThe Dogecoin community and foundation have encouraged fundraising for charities and other notable causes. On January 19, 2014, a fundraiser was established by the Dogecoin community to raise $50,000 for the Jamaican Bobsled Team, which had qualified for, but could not afford to go to, the Sochi Winter Olympics. By the second day, $36,000 worth of Dogecoin was donated and the Dogecoin to bitcoin exchange rate rose by 50%. The Dogecoin community also raised funds for a second Sochi athlete Shiva Keshavan.
Liam Butler, a member of the Dogecoin Foundation had seen the 1993 film Cool Runnings which showed the epic story of the Jaimaican bobsleigh team's success in the 1988 olympics. Inspired by this, he setup an initiative to raise Doge Coin donations for the Jamaican athletes. The initiative was a huge success, soon raising over $25,000 worth of Doge Coins for the cause - this was the largest single donation.