The Ethereum Foundation has assigned approximately $8.5 million to assist 98 projects through its Ethereum Foundation Ecosystem Support Program (EFESP) as per the grants allocation report released on Aug. 30. While the report lists the projects and their respective categories, it does not delve into detailed funding distribution for each project.
A significant portion of EFESP-supported projects fall within the “Community & Education” category, with 41 projects receiving backing from the Ethereum Foundation. These projects encompass diverse activities such as ETH conventions and local meetups globally. Additionally, the EFESP has supported 28 projects in the “Cryptography & zero-knowledge proofs” category, making it the second-largest in terms of project numbers.
Furthermore, the EFESP extended its support to seven projects focused on “Developer experience and tooling,” two projects aimed at enhancing the “execution layer,” two projects for “general growth & support,” and three projects in “general research.” The grants for the second quarter also included initiatives to advance staking and protocol development.
Acknowledging the initiative, Ethereum co-founder Vitalik Buterin praised the transparency brought by the report on the foundation’s expenditure on social media. The Ethereum Foundation faced scrutiny recently for transferring 34,000 ETH to a Kraken address, leading to speculation within the crypto community about fund allocation.
Amid the scrutiny, EF contributor Josh Stark addressed concerns regarding the foundation’s spending in the past two years on social media. To date, the EFESP has allocated over $20 million in grants this year, which constitutes a significant portion of the previous year’s grant funding. On-chain data indicates that the Ethereum foundation’s wallet holds a notable amount of cryptocurrencies, with ETH being the most significant holding at 273,532.
Overall, the EFESP’s grant allocation report highlights the foundation’s dedication to supporting innovative projects within the Ethereum ecosystem, setting the stage for further progress and expansion in the blockchain domain.
