Ethereum Foundation Launches Treasury Strategy, Begins Staking $3,800,000 in ETH
The Ethereum Foundation is now staking part of its treasury stockpile of ETH.
The organization says it has staked an initial deposit of 2,106 ETH worth around $3.8 million.
Approximately 70,000 ETH will be staked in total, with all rewards directed back to the EF treasury.
“By participating directly in consensus through solo staking, the Ethereum Foundation generates native, ETH-denominated yield to help fund its stewardship of the ecosystem.
It does so using Ethereum’s own economic rails and thereby subjects itself to the friction, risks, and operational realities of staking while setting a standard both in transparency and in operational management of validators.”
The foundation says the move will help secure the Ethereum network while creating native ETH yield to fund core work like protocol R&D, ecosystem development and community grants.
The launch of staking has been fueled by Ethereum creator Vitalik Buterin, who has sold more than $6 million in ETH in recent days.
In late January, Buterin withdrew 16,384 ETH worth approximately $44 million from his personal holdings to fund ecosystem development in a period of “mild austerity.”
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Ethereum Foundation Launches Treasury Strategy, Begins Staking $3,800,000 in ETH appeared first on The Daily Hodl.
You May Also Like
Trump's 'pretty boring' State of the Union was a flop: MS NOW's Lemire
You Didn’t Get This Far for No Reason; It’s the Best Time to Get Your XRP Thesis Up: XRPL Dev Says
