jakiro
Author: Ignas, encryption KOL; Compilation: 0xxz@bitchain Vision
The Ethereum Foundation holds $845 million worth of ETH, accounting for 0.25% of the total ETH supply.
According to the latest report from the Ethereum Foundation, the Ethereum Foundation allocated $30 million in the fourth quarter of 2023, while in the third quarter of 2023, they allocated $8.9 million.
Here are some examples of spending:
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Meetings around the world, “attract new Ethereum users through basic lectures and educate developers through technical conferences and workshops.” •
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Online courses on core concepts and components of Zero Knowledge (ZK) systems.
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“Email Wallet”, users can send cryptocurrencies via email without the need for recipient operations.
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“Daimo” ERC-4337 Smart Contract Wallet: Stablecoins only, non-custodial, no seed phrases required.
The Ethereum Foundation seems to allocate grants for educational and niche (but cool) products that may not receive a lot of venture capital support.
This could explain why they are reluctant to fund DeFi protocols because they receive external funds from venture capital firms anyway.
However, there is a lack of a comprehensive and transparent total spending report.Who is auditing the Ethereum Foundation?
The latest report is for 2021, showing that the total expenditure on internal and external grants and bounties is $48 million.
The biggest expenses are:
• US$21 million for L1 research and development
• $9.7 million for community development, including grants and education
• US$5.1 million for internal operations (wage, legal fees, etc.)
Therefore, 10% of the total expenditure in 2021 is spent on paying developers’ salaries and supporting the maintenance of the Ethereum Foundation.
I must sayAlthough Polkadot faces controversy over its crazy spending, the report is at least transparent and can be found.
I kind of look forward to the Ethereum Foundation’s operations and reporting more transparently.
Just realized,The Ethereum Foundation’s latest spending is about $100 million a year, and it will run out of its ETH within 8 years.
They need to go up prices or start pledging to earn profits and provide funds for their operations for longer.
