Ethereum Foundation Allocates $165M in ETH for DeFi Participation
The Ethereum Foundation is allocating 50,000 ether (ETH), approximately $165.3 million, to engage in the decentralized finance (DeFi) ecosystem. Key details include:
- Establishment of a 3-of-5 multisig wallet via Safe for secure management.
- Initial transaction completed with lending protocol Aave.
- Foundation's treasury declined by 39% over nearly three years, now at $970.2 million.
- Majority of treasury held in ether, which has recently decreased against bitcoin.
- No staking of ETH has occurred due to regulatory concerns; potential yield from staking is 3.31%.
- Leadership restructuring aimed at enhancing technical expertise and communication with the ecosystem.
- Foundation seeks to maintain its ideological stance and avoid centralization.