The Ethereum Foundation just moved 45,000 ETH, or $119M worth, into DeFi protocols. In a series of transactions, they deposited 10,000 ETH into MakerDAO’s Spark Protocol, another 10,000 ETH into Aave Prime, 20,800 ETH into Aave Core and 4,200 ETH into Compound Finance.
The move came as a positive surprise for many long-term Ethereum supporters after many criticized the Ethereum Foundation for their lack of use of the chain and support for applications built on Ethereum, with many also lamenting the constant selling of ETH by the Foundation.
The active use of DeFi could help to alleviate some of the ETH selling pressure, with yields directed to paying Foundation expenses. This is especially so with the Foundation also exploring ETH staking for yield, as they explained further in a tweet.
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