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How are ETH funds used in Ethereum?
**Author: @**DefiIgnas
Translation: Blockchain in Plain Language
The Ethereum Foundation (EF) holds 845 million ETH, accounting for 0.25% of the total ETH supply.
According to their latest report, the Ethereum Foundation (EF) spent 30 million dollars on funding in the fourth quarter of 2023. In the third quarter of 2023, they allocated 8.9 million dollars for funding.
Here are some examples:
The conference, held globally, aims to provide introductory guidance for new users through basic lectures and educate developers through technical conferences and workshops.
Online course on the core concepts and components of Zero Knowledge (ZK) systems.
"Email Wallet" allows users to send Crypto Assets via email without the recipient's operation.
"Daimo" ERC-4337 Smart Contract Wallet: Supports stablecoins only, non-custodial, no need for seed phrase.
It looks like the Ethereum Foundation (EF) will fund allocations to education and some niche (but cool) products that may not receive significant venture capital support.
This may explain why they are unwilling to sponsor the Decentralized Finance protocol, because these protocols have already received external funding from venture capital firms.
However, there is a lack of comprehensive and transparent expenditure reports. Who is auditing EF?
The latest report is from 2021, showing a total expenditure of $48 million, including internal expenses, external funding, and bonuses.
The largest expenditure item is:
USD 21 million for L1 development
9.7 million dollars for community development, including funding and education
$5.1 million for internal operations (salaries, legal expenses, etc.)
Therefore, 10% of the total expenditure in 2021 is allocated to developer salaries and supporting the maintenance work of the Ethereum Foundation.