Ethereum Foundation now stakes a portion of its treasury ETH stockpile.
It claims to have staked an initial investment of 2,106 Ethereum, which is worth approximately $3.8 Million.
All rewards will go to the EF treasury.
The Ethereum Foundation can generate native ETH yield by participating in the consensus process through solo staking. This helps fund the stewardship and maintenance of the Ethereum ecosystem.
“It does this using Ethereum’s economic rails, and thus subjects itself to friction, risks and operational realities associated with staking, while also setting a new standard in terms of transparency and the operational management of validators.”
The Foundation says that the move is aimed at securing the Ethereum network and creating native ETH to fund core activities like R&D in protocol development, community grants and ecosystem developments.
Vitalik Buterin has been a driving force behind the launch of staking. He has recently sold over $6 million worth of ETH.
Buterin withdrew 16 384 ETH, worth $44 millions from his own holdings in late January to finance ecosystem development during a “mild” austerity period.
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The post Ethereum Foundation Launches Treasury Strategy and Begins Staking $3.8 Million in ETH could be updated as new information becomes available.
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