Megapot Launches On-Chain Charity Lottery to Support Ethereum Developers
Summary
- Megapot said it has launched an on-chain charity lottery to support core Ethereum (ETH) developers.
- Part of ticket-sale revenue and all referral fees will go to Ethereum core developers, with the goal of addressing funding shortages for network maintenance.
- The prize pool currently stands at about $1.1 million, and the entire process runs on-chain in a structure designed to strengthen blockchain-based transparency.
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Blockchain lottery platform Megapot has launched an on-chain charity lottery aimed at supporting core Ethereum developers, as the industry looks for new ways to fund blockchain ecosystem maintenance.
CoinDesk reported on May 28 that Megapot introduced an on-chain lottery that sends part of its ticket-sale revenue to Ethereum core developers.
All referral fees generated during ticket sales will also go to those developers, CoinDesk said. Megapot said the initiative is intended to help address funding shortages for engineers who maintain the Ethereum network.
The lottery's prize pool currently stands at about $1.1 million, according to the report. The entire process operates on-chain, a structure meant to enhance blockchain-based transparency.
The launch comes as debate widens within the Ethereum ecosystem over the need to maintain core infrastructure and support open-source developers. Some developers have struggled to secure stable funding despite maintaining critical network technology.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
