The Ethereum Foundation has announced a commitment of 50,000 ETH to actively participate in DeFi and explore new ways to leverage its assets.
Multisig Wallet Development for DeFi
To engage in the DeFi ecosystem, the Ethereum Foundation established a 3-of-5 multisig wallet through Safe. This wallet will secure and effectively enable interactions with DeFi protocols such as Aave.
$150M ETH Investment into DeFi Platforms
The Foundation plans to seed approximately $150 million worth of ETH into the new wallet to participate in DeFi protocols. This responds to calls for more active participation in the Ethereum ecosystem.
Strategic Shift Evaluation and Challenges
The Foundation takes steps in response to criticism over ETH sales affecting price, considering staking options to support the network while avoiding asset liquidation.
These strategic measures could significantly enhance the foundation's sustainability and contribute to the further growth of the Ethereum ecosystem.
