Ethereum Foundation (EF), a non-profit that oversees the Ethereum ecosystem’s development, has bet over 45,000 Ether.ETHThe Foundation has set a goal of 70,000 ETH.
According to reports, the EF bet the coins through a series transactions consisting each of 2,047 ETH. The total staked Friday was valued at more than $92.2 million. data Arkham Intelligence
It was then that the EF began staking ETH in February As part of the updated Treasury Strategy Policy announced in June 2020, the EF will use yields generated to finance protocol research, ecosystem grants and grant-making. According to the EF’s updated treasury policy:
“We are now increasingly moving into staking and DeFi, both to enhance financial sustainability and to support a key application category that is delivering on the promise of permissionless, secure access to base civilizational infrastructure for millions of people today.”
In February the foundation invested 2,016 Ethereum, worth approximately $4.1 Million. followed by 22,517 ETHThe EF has locked up over $143,000,000 in Ethereum Beacon deposit contracts, according to Arkham Insight. Arkham Intelligence reports that the EF locked up over $143,000,000 in ETH for its Ethereum Beacon deposit contract.
Adoption of the a yield-bearing treasury strategy Following pressure by the Ethereum Community on the EF for it to generate revenue from its treasury in order to cover costs, instead of continually selling tokens to run operations.
Related: Ethereum Foundation sells $10.2M worth of ETH to BitMine in OTC deal
Vitalik Buterin warns that EF staking could force positions into hard forks
In the case of a hardfork or partitioning of a blockchain network into competing chains, validators who have locked up tokens can determine which chain will be considered valid.
“If EF stakes, ourselves, this de facto forces us to take a position on any future contentious hard fork,” Vitalik Buterin is the co-founder and CEO of Ethereum said In January 2025,
The EF has been exploring new ways to mitigate the centralization risks Buterin said that the stakes posed in case of a hard fork would be a problem.
Magazine: Ethereum’s Fusaka fork explained for dummies: What the hell is PeerDAS?
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Source: cointelegraph.com
