According to data provided by analytics platform Lookonchain, the Ethereum Foundation recently transferred a whopping $131 million to a multi-signature wallet that is used to participate in the decentralized finance (DeFi) ecosystem.
This likely indicates that the EF intends to earn additional income by participating in various DeFi protocols.
The multi-sig address previously interacted with AAVE, a popular decentralized lending system.
Last month, the EF decided to allocate a total of 50,000 ETH in order to participate in the DeFi sector and expand the EF's treasury. This represents nearly a fifth of the EF's total ETH holdings.
Arman ShirinyanKain Warwick, the founder of yield farming, previously accused the EF of neglecting DeFi despite the fact that it was the only thing "propping up" the blockchain network over the past several years. In response to growing accusations of having some sort of anti-DeFi bias, Buterin claimed that applications have to be sustainable. He also revealed that he was a frequent user of decentralized exchanges.
The EF then set up the multi-signature wallet in January in order to expand its presence within the growing DeFi ecosystem.
As reported by U.Today, Buterin also recently stated that the EF was focused on bringing in fresh talent without abandoning its values.
This comes after the EF leadership faced substantial criticism over the token's severe underperformance. Recently, ETH plunged to yet another multi-year low against archrival Bitcoin. In fact, the ETH/BTC pair revised the level that was last seen before the surging popularity of DeFi and NFTs in 2021.
Alex Dovbnya
Gamza Khanzadaev
Dan Burgin
Vladislav Sopov