As a seasoned researcher with a keen interest in blockchain technology and decentralized finance, I find myself continually amazed by the growth and development of the Ethereum ecosystem. The recent report by the Ethereum Foundation, detailing nearly half a billion dollars deployed to support projects between 2022 and 2023, is a testament to the collaborative spirit and collective efforts within this community.
According to the Ethereum Foundation’s 2024 annual report, approximately $500 million was allocated for the funding of various ecosystem projects from 2022 to 2023.
As a researcher delving into the data, I discovered that various entities within the Ethereum landscape collectively invested over $497 million in projects. Notably, the Ethereum Foundation accounted for approximately 48.3% of this total, contributing about $240.3 million to these initiatives.
The remaining funding came from organizations like MakerDAO (now rebranded as Sky), Optimism, Gitcoin, Decentraland, Aragon, Uniswap, Starknet, MetaMask DAO and Protocol Guild, showcasing the collaborative effort within the Ethereum community.
Ethereum supported by $22.2 billion in treasury funds
As a crypto investor, I’ve noticed that the Ethereum Foundation isn’t just backing individual projects with their funds, but they’re also propping up the entire Ethereum ecosystem with an impressive $22 billion tucked away in their treasury.
The assets are held by foundations, organizations, and Decentralized Autonomous Organizations (DAOs). Notable examples include Optimism, Uniswap, Mantle, Arbitrum, Gnosis, Ethereum Name Service, and Ethereum, which collectively hold billions in their reserves. On the other hand, the Ethereum Foundation itself possesses a treasury worth approximately $970 million.
As per the findings, both liquid assets and funds that have been vested were mentioned in the report. Moreover, the foundation emphasized that the majority of project treasuries consist primarily of the native tokens of those specific projects. In simpler terms, the report shows that it contains a mix of cash (liquid) and invested funds, and most project coffers are filled with their own cryptocurrencies.
“This means that the total value of a project treasury is much greater than the total value that could be deployed immediately in fiat terms. If a project tried to sell a significant portion of their treasury, it could have a large impact on the price of the underlying token.”
Regardless, the Ethereum Foundation posits that this substantial sum reflects the “extent of resources” at Ethereum’s disposal for the long haul. They contend that if just a portion of this amount is utilized, it would be sufficient to support and expand the ecosystem.
Ethereum Foundation implements Conflict of Interest policy
In the report, the Ethereum Foundation mentioned they put a Conflict of Interest policy into action. This policy requires Ethereum Foundation members to disclose investments worth more than half a million dollars (excluding Ether) to the organization. If there is high exposure, these members may not participate in decisions related to the conflict.
According to Aya Miyaguchi, the Ethereum Foundation’s executive director, the new policy is intended to strengthen the honesty and reliability in their operations. She further believes that this policy may enhance the trustworthiness and quality of the entire ecosystem.
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2024-11-08 10:50