Ethereum Foundation Trying to Attract Attention: Deposited 20,000 ETH to These Altcoin Platforms! - Coin Bulletin

robot
Abstract generation in progress

**The Ethereum Foundation has expanded its support for the decentralized finance (DeFi) ecosystem by depositing 20,000 ETH into Aave and Spark platforms.

The Ethereum Foundation has directed a total of 20,000 ETH worth 53.48 million dollars to two major DeFi platforms. According to Lookonchain, 10,000 ETH of these funds were allocated to Aave, while the other 10,000 ETH were invested in Spark. Aave provides decentralized lending and borrowing services, while Spark is known as a platform developing next-generation financial solutions based on Ethereum.

Ethereum Foundation focuses on DeFi

This move is seen as a continuation of the foundation's efforts to increase its participation in the DeFi ecosystem. Last month, the foundation announced that it would transfer 50,000 ETH to a multisig wallet and revealed plans to invest these funds in the DeFi ecosystem. Subsequently, on February 9th, the Ethereum Foundation, which made a large transfer of 50,000 ETH, has now directed some of these assets to DeFi platforms.

The Ethereum Foundation had transferred 20 thousand in advance. The total stake amount reached 40 thousand.

The Ethereum Foundation has been the focus of criticism in the past due to its large-scale ETH sales. However, these recent investments indicate the foundation's strategy of using its ETH assets to grow the ecosystem rather than just converting them to cash. The impact of these investments on the Ethereum ecosystem through DeFi will become clear in the coming period.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)