At the beginning of September, OKCoin launched an initiative aiming to foster the growth and development of the ecosystem. With our Let’s Build Bitcoin Together! campaign, we pledged to donate up to 1,000 BTC to Bitcoin (BTC), Bitcoin Cash (BCH), and Bitcoin Satoshi Vision (BSV), while asking the community to get involved by voting for the project they believed we should send a portion of the donation to.
Our pledge was intended to make a meaningful philanthropic impact by contributing to the development and educating the broader community. We learned a lot over the course of our campaign. Although we did not meet our goal of donating the full 1,000 BTC, we found comfort in contributing to the conversation of how to fund open-source development. Over the course of the last month, we released educational content highlighting BTC, BCH, and BSV projects. We hosted a podcast in which we interviewed BSV champion, Jimmy Nguyen, and conducted interviews with Jimmy Song (BTC) and Ella Qiang (BSV). Finally, our own COO, Jason Lau, shared learnings and insights to help others wishing to fund open-source development.
Here is a brief recap of the pledge, including results and feedback, and how we plan to support the growth of the ecosystem moving forward.
‘Let’s Build Bitcoin Together!’ Results
We structured the pledge so that each community vote would donate 0.02 BTC to the voter’s preferred project. The final results are as follows:
Total Amount Raised: 0.94 BTC
BTC: 31 votes
BCH: 8 votes
BSV: 8 votes
We are grateful to everyone who participated. For those who did not and expressed frustration, we hear you. We understand that there were challenges and uneasy feelings. We see this as a positive learning experience, which we will reflect further on as we continue to find ways to give back to the community.
OKCoin has been around since 2013. As one of the earliest exchanges, we’ve seen projects come and go. The efforts of developers are the beating heart of this industry. The purpose of our Let’s Build Bitcoin Together! pledge was to support these developers directly and fund development. This time, we did not meet our goal of donating 1,000 BTC, but we plan to find more impactful ways to contribute in the future.
OKCoin remains committed to building the crypto ecosystem
Our mission is to make digital assets accessible to the world. We believe that improved accessibility is the path to mass adoption, and open-source developers are paving the way. We remain committed to fostering growth, innovation, and education in the cryptocurrency industry. Although our pledge didn’t garner the traction we had envisioned, we are committed to supporting the open-source community. That’s why we’ve decided to donate a full 20 BTC to the developers involved in the campaign, dividing the funds on a prorated basis, reflecting our users’ voting patterns.
Though the Let’s Build Bitcoin Together!
- The GNOME project: A nonprofit that develops free, open-source software.
- ReactOS: A nonprofit that provides a free community operating system.
- Mozilla Foundation: A nonprofit that protects the internet as a global public resource.
- Free Software Foundation (FSF): A society for free software advocates.
Closing thoughts
We are grateful to our community, both for their support and constructive feedback. Follow us on Twitter to continue the discussion and provide your feedback on more ways we, or others, can get involved in the development of the ecosystem.
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