Ethereum Foundation Grant Transfers 220.452 ETH to BuidlGuidl
Key Points: Ethereum Foundation Grant transfers 220.452 ETH to a multi-signature wallet. The transfer might be a donation to BuidlGuidl for Ethereum development. Ethereum Foundation Grant transferred 220.452 ETH to a multi-signature contract, possibly a donation to BuidlGuidl, which supports Ethereum developers. Ethereum Foundation Grant Supports Ethereum Development At 20:08 UTC+8 today, a wallet identified as belonging to the Ethereum Foundation on Arkham transferred 220,452 ETH (valued at approximately $618,000 at the time of writing) to a 4/8 multi-signature contract: 0xeF899e80aA814ab8D8e232f9Ed6403A633C727ec. This contract is believed to be associated with BuidlGuidl, a curated group focused on creating products, prototypes, and tutorials for Ethereum developers. BuidlGuidl has distributed over 772.83 ETH for new initiatives on Ethereum and boasts more than 1,292 active builders worldwide. The Ethereum Foundation recently completed a significant transaction, exchanging 100 ETH at an average price of $3,078.93 for 307,893 DAI. This grant from the Ethereum Foundation underscores its commitment to long-term investment in the Ethereum ecosystem and the incubation of new development initiatives. However, confirmation from BuidlGuidl is still pending. This development follows Vitalik Buterin’s announcement of the first gas limit increase since 2021, supported by over half of the validators, eliminating the need for a hard fork. L1 is scaling.A big shoutout to all the developers working on EIP-4444 (history expiry), statelessness (see the new binary tree EIP! https://t.co/ajKpF66BKw ), client efficiency upgrades, and other features that will make higher L1 gas limits decentralization-friendly. https://t.co/DNsHPAhiia— vitalik.eth (@VitalikButerin) February 4, 2025 Read more: Ethereum Pectra Upgrade to Doubling Layer 2 Capacity and Boosting Scalability Ethereum Foundation and Recent Developments In addition to providing grants to develop the ecosystem, the Ethereum Foundation is considering staking nearly $1 billion worth of ETH to increase fund revenue. Furthermore, for the first time, the Foundation has used 50,000 ETH to participate in DeFi, which enhances market liquidity and generates more profits. This strategy aims to reduce the need for continuously selling tokens to cover operating costs. The Ethereum Foundation is under increasing pressure as Ethereum reverts to inflation. According to Ultrasound, the ETH supply is now higher than before The Merge. Additionally, the organization is criticized for its leadership, with calls to replace the current director, and faces competition from Solana amidst the memecoin craze. BTW your attempted scapegoat attack against Aya is not even correct. Left: the wired English version. Right: AI translation of the Japanese original. https://t.co/wCJ4Vu13G7You may of course still disagree with her approach, but it is NOT "competing and winning are bad". pic.twitter.com/eAH1bte1HY— vitalik.eth (@VitalikButerin) January 21, 2025 DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.