Author: Ignas, crypto KOL; Compiler: 0xxz@黄金财经
The Ethereum Foundation holds $845 million worth of ETH, accounting for 0.25% of the total supply of ETH.
According to the latest report of the Ethereum Foundation, the Ethereum Foundation allocated $30 million in the fourth quarter of 2023, and in the third quarter of 2023, they allocated $8.9 million.
Here are some examples of spending:
Conferences around the world, "engaging new Ethereum users with foundational lectures and educating developers through technical conferences and workshops." •
Online courses on core concepts and components of zero-knowledge (ZK) systems.
“Email wallet,” which allows users to send cryptocurrency via email with no action required by the recipient.
“Daimo” ERC-4337 smart contract wallet: stablecoins only, non-custodial, no seed phrase required.
The Ethereum Foundation seems to allocate grants to education and niche (but cool) products that may not receive a lot of VC backing.
This could explain their reluctance to fund DeFi protocols, as they would receive external funding from VC firms anyway.
However, there is a lack of comprehensive and transparent reporting of total expenditures. Who is auditing the Ethereum Foundation?
The latest report is from 2021 and shows a total expenditure of $48 million on internal expenditures and external grants and bounties.
The biggest expenses were:
• $21 million for L1 R&D
• $9.7 million for community development, including grants and education
• $5.1 million for internal operations (salaries, legal fees, etc.)
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So 10% of total spending in 2021 goes to pay developers salaries and support maintenance of the Ethereum Foundation.
I must say, While Polkadot has faced controversy for its crazy spending, at least the reporting is transparent and available.
I kind of expected more transparency in the Ethereum Foundation's operations and reporting.
Just realized that The Ethereum Foundation's latest spending is about $100 million per year, which will exhaust its ETH in 8 years.
They need the price to go up or start staking to earn a yield and fund their operations for longer.
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