The Ethereum Foundation has recently made a significant transfer of ETH to the Aave project, continuing its active support of the decentralized finance sector.
Support for Aave DeFi Project
The Ethereum Foundation supplied Aave with 30,800 ETH, equivalent to just over $85 million. The funds were divided with 10,000 ETH going to Aave Prime and 20,800 ETH to Aave Core. This action is seen as part of the foundation's plan to engage more actively in decentralized finance.
Fund Transfer to DeFi Wallet
The foundation recently moved 50,000 ETH to its new DeFi multi-sig wallet, which was created to engage with DeFi applications. Hsiao-Wei Wang announced the creation of the wallet on January 20, along with the plan to transfer 50,000 ETH once the signing process was complete.
ETH Sale Criticism and Restructuring
The foundation has faced criticism for selling ETH instead of staking it. It has sold 300 ETH this year at an average price of $3,271, raising questions within the Ethereum community. Vitalik Buterin defended the approach, citing regulatory concerns and the foundation's role as a neutral entity.
The Ethereum Foundation continues to expand its presence in the DeFi sector while restructuring and adapting its strategies for improved efficiency and transparency.
