ETHEREUM has transferred a large amount of 50,000 ETH, at a value of approximately $ 165 million to a multi -signed portfolio to enhance its participation in the decentralized financing system (Defi). Vitalik Buterin, co -founder of Ethereum, had previously stated that he preferred to support Defi projects instead of selling ETH every week according to Wu Blockchain.
Money is stored in a multi -signated portfolio of three of five on Safe, ensuring security management. A preliminary test transaction has been successfully conducted on AAVE, a lending platform.
Ethereum Foundation’s commitment
This investment follows criticism that the institution has separated from the DEFI space. By allocating a large part of its property, the Foundation explains its commitment to supporting developers and increasing transparency.
Ethereum founder, Vitalik Buterin, stressed that this step is not a change in ideology, but rather a step towards more active support for developers and increased transparency within society. The current goal of the Foundation is to balance the promotion of technological developments without losing its basic principle.
Defi’s ecosystem effects
With this development in the DEFI space, there will be many important effects. A few of them were listed below:
Increased liquidity: With the flow of 50,000 ETH to the DEFI space like AAVE is expected to increase liquidity. This increased liquidity will then start lending and borrowing activities more efficient.
Refurmed credibility: The active participation of the Ethereum Foundation in the DEFI space may enhance confidence between investors and developers. This may attract more projects on Ethereum Blockchain.
Treasury growth: Through this step, Ethereum Foundation tries to generate returns on its holdings, which reduces the need for regular ETH sales.
With this development, the price of a distinctive symbol is witnessing an increase. According to CoingeckoAt the time of the press, the priced price of ETH is 2683.92 dollars with an increase of 2.3 % in the last 24 hours and 0.3 % in the past hour.
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