Several DeFi projects are donating a total of $ 1.5 million to the Ethereum Foundation to promote the Ethereum 2.0 update.
Donors to Build Together: Collecting Client Ecosystem Runtime Funds are Kraken, Compound Grants, Lido, Synthetix, The Graph and Uniswap Grants. Each of these cryptocurrency projects donated $ 250,000 to support Ethereum 2.0 developers. The money will be distributed among the Ethereum Foundation teams and will be distributed as the team completes the planned development phase of the project.
“We are delighted to be working with the Ethereum Foundation to ensure that developers receive funding from an increasingly wide range of stakeholders. We believe it is our responsibility to help innovators who are creating the next generation of cryptocurrency, ”wrote Jesse Powell, CEO and co-founder of Kraken.
Ethereum Foundation Executive Director Aya Miyaguchi said:
“We strongly believe that collaborative efforts and support is the most reliable way to benefit Ethereum in the long term. This collaborative effort to support the Ethereum development teams is not only effective, but a great example for everyone. ”
Most DeFi projects are built on the Ethereum network and it is vital for them to have a successful upgrade. Cryptocurrency exchange Kraken, for example, claims that its clients have deposited over 800,000 ETH ($ 2.6 billion) in staking on Beacon Chain.
Kraken has also made donations to several other projects: Bitcoin, Brink, BTCPay Server, and the University of Wyoming.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
