Key Points
- The Ethereum Foundation is considering staking its nearly $1 billion worth of ETH holdings, according to co-founder Vitalik Buterin.
- Buterin is also advocating for leadership changes within the foundation to improve its execution ability and use of decentralized technology.
The Ethereum Foundation is contemplating staking its substantial ETH holdings, valued close to $1 billion.
This information was shared by Ethereum co-founder Vitalik Buterin.
Addressing Criticism
The foundation has recently faced criticism for its perceived lack of involvement in the activities of the Ethereum ecosystem.
Josh Stark, a contributor to the foundation, defended it, stating that the Ethereum Foundation has been utilizing the blockchain to sell tokens, event tickets, and distribute grants.
However, this defense was not sufficient for some, who believe that the foundation could be more proactive.
The Ethereum Foundation is now considering the advice of angel investor Eric Conner, who suggests that the foundation could stake its holdings and use the staking rewards to pay employees and issue grants.
Buterin’s Response and Future Plans
Buterin has acknowledged that the foundation may not have been very active, citing regulatory risks and concerns about making hasty decisions during hard forks on the network as reasons.
Buterin says regulatory tensions have significantly reduced, and the foundation is working to address the second issue.
Therefore, it seems the foundation is seriously considering Conner’s suggestion of staking its ETH holdings.
Buterin has also been advocating for leadership changes at the foundation.
He believes that introducing new talents is crucial to improving the foundation’s execution ability and better utilization of decentralized and privacy-focused technology.
Ethereum co-founder Joseph Lubin supports this idea, suggesting that the foundation’s current executive director, Aya Miyaguchi, be replaced with two co-leaders: Danny Ryan and Jerome de Tychey.
Lubin believes that these two individuals would bring creativity and out-of-the-box thinking to the Ethereum community.