Charlie Lee's proposal for miners

The creator of Litecoin, Charlie Lee, published on his official Twitter account a proposal to the miners to contribute to the development of crypto projects.

 Charlie Lee's proposal for miners

Voluntary donations

Charlie Lee, founder of Litecoin (LTC), proposed an initiative for miners to donate part of their profits to finance the development of projects related to Blockchain and cryptocurrencies. Lee wrote on January 24 on his official twitter: “What if Litecoin groups donate 1% (0.125 LTC) of the block rewards to @LTCFoundation? If each miner / group does this, it amounts to a donation of approximately USD 1.5MM per year!”

According to Lee, with only 1% of the rewards of miners granted in donation to crypto projects would provide more than enough financing for a large development. Lee explained: “At the current price of LTC, 1% of the block's rewards are approximately 7 times the annual expenses of the Litecoin Foundation. Even if a small percentage of miners is generous enough to donate, the foundation could put it to good use by financing developers to work on Litecoin Core, Mimble Wimble, LiteWallet, LN wallet, organize the annual Litecoin Summit and press for the adoption of Litecoin by merchants and users."

Lee's proposal is always based on the will of the miners. The creator of Litecoin affirmed that it would not be correct if it were not voluntary because an obligation imposed on the miners would discourage investments in mining within the network.