Vitalik and Joe Lubin invest over 2000 ETH in MolochDAO initiative

11 May, 2019
by David Robb
News
Vitalik and Joe Lubin invest over 2000 ETH in MolochDAO initiative

Ethereum co-founders Vitalik Buterin and Joe Lubin have invested a significant amount of ETH into a new blockchain initiative. CoinDesk reports that they each donated around 1000 ETH to MolochDAO, and a further 2000 ETH was donated from other individuals at ConsenSys and the Ethereum Foundation.

The project was set up by SpankChain CEO Ameen Soleimani, and is designed as a decentralized crowdfunding platform for Ethereum 2.0 projects. Lubin and Buterin have now joined the 22 founding members of the initiative.

Soleimani told CoinDesk that he would "love to have more insight from wider groups of people with diverse and complementary viewpoints to help make sure all the blind spots are covered". The Moloch project is now valued at over $1 million. 

According to Lubin, "Moloch is a very innovative structure and I expect it to take off and be a significant factor in helping drive development throughout the Ethereum ecosystem".

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