Ethereum Foundation update details role in ecosystem and funding plans for year ahead

The Ethereum Foundation (EF) has released a broad update, detailing its role in the ecosystem and its specific plans for resource allocation over the next 12 months.

The update begins by noting that the Foundation currently holds approximately 0.6% of ETH in circulation, valued at approximately $164 million, as well as reserves held in cash. Despite this deep treasury, the Foundation is keen to encourage other community organizations to support high-priority projects while simultaneously supporting innovative funding mechanisms like Gitcoin and MolochDAO. Indeed, last week Ameen Soleimani, the founder of MolochDAO, announced that the Ethereum Foundation had submitted a 1,000 ETH application proposal to the grant-making co-operative.

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