Home CryptoCurrency News Ethereum Foundation Spent $9.7M for Community Development in 2021; New Report

Ethereum Foundation Spent $9.7M for Community Development in 2021; New Report

The most recent report from the Ethereum Foundation, which includes news and updates from April 2022, has been published. It offers a wealth of information regarding the current state and future plans of the blockchain, as well as the community as a whole, in one place.

The report begins with a message from the executive director to users and members of the media. It goes into detail about the research, which claims that the last few years have been extremely eventful, both internationally and within the Ethereum community

2021 Achievements

This report is not solely concerned with what EF accomplished in 2021. More significantly, it wants to convey the logic and philosophy that guide the foundation in determining where to focus our efforts and how to prioritize them. 

One section of the report contains an overview of the Ethereum Foundation’s financial milestones for 2021. It reads as follows: At the end of March 2022, the EF’s treasury had around $1.6 billion, with $1.3 billion in cryptocurrency and $300 million in non-crypto investments and assets, respectively.

Ethereum Foundation reports:

“The vast majority (99.1%) of our crypto holdings are held in ETH. This ETH represents 0.297% of the total ETH supply on March 31, 2022. The EF follows a conservative treasury management policy that ensures we have sufficient resources to fund the EF’s core objectives even in the case of a multi-year market downturn. This part of our budget is immune to changes in the price of ETH on a significant timeline.”

A particularly intriguing section of this report discusses the expenditures of the foundation for community development, which totaled $9.7 million in the fiscal year 2021. This category contains a variety of works that provide support to various portions of the Ethereum community. Engaging with core protocol groups (for example, support for the staking community), Next Billion, Devcon, as well as Ethereum.org, and other instructional resources are all examples of what is required.

Many awards are included in this area, ranging from donations to specific regions such as Honduras and Colombia to funds for education and many more. The $1 million in advocacy organization awards announced in November 2021, as well as the $1 million in staking community grants announced in February 2021, are also included in this figure.

The latest report from EF shows the community and its supporters are growing faster than ever. With Ethereum 2.0 ahead, the foundation has a lot more to do, and we can expect more interesting reports from it.

Mehdi Zare
I am a young father who always loves to learn. Security and privacy topics are my main interests, and so, blockchain as one of the most strong security and privacy solutions of the modern industry excites me too.
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