The Ethereum Foundation is taking steps to strengthen its involvement in the DeFi ecosystem by investing substantial Ethereum holdings and establishing a multisig wallet.
Multisig Wallet Setup for DeFi Participation
To participate in the DeFi ecosystem, the Ethereum Foundation has established a 3-of-5 multisig wallet through Safe. This allows secure and transparent interaction with DeFi protocols such as Aave, on which a test transaction has already been completed.
$150M Worth of ETH to Be Seeded into DeFi Wallet
The Ethereum Foundation plans to seed about $150 million worth of ETH into the new wallet to actively engage with DeFi protocols. The signing process takes time, and the Foundation requests users to be patient.
Strategic Shift and Leadership Issues
The Foundation faced criticism for its asset management and ETH sales, which pressure Ethereum's price. In response, staking options are being explored, and changes in leadership are planned to improve transparency and sustain growth.
If successful, the Ethereum Foundation could secure a steady income stream, reinvesting it into Ethereum's development and sustained growth.
