The Ethereum Foundation Ecosystem Assist Program (EFESP) allotted a complete of roughly $8.5 million to help 98 projects, in response to the muse’s inaugural grants allocation report revealed on Aug. 30.
Though the report breaks down the projects by sort, recipient, and phone, it doesn’t present an in depth breakdown of how a lot every venture obtained.
A lot of the projects that obtained help from the EFESP are labeled “Community & Education,” with 41 getting boosted by the Ethereum Foundation (EF), together with occasions similar to ETH conventions and small meetups worldwide.
Furthermore, the EFESP supported 28 projects devoted to “Cryptography & zero-knowledge proofs,” the class with the second-largest variety of projects backed by the muse.
This second class consists of projects similar to a protocol utilizing zero-knowledge know-how to show possession of an Indian Residence ID on Ethereum, the creation of a domain-specific language to put in writing zero-knowledge circuits, and the manufacturing of instructional content material.
The EFESP additionally supported seven projects devoted to “Developer experience and tooling,” two projects targeted on enhancements destined to the “execution layer,” two projects aimed toward “general growth & support,” and three “general research” initiatives.
Moreover, the grants batch for the second quarter additionally included efforts to spice up developments in staking and protocol development.
Reporting amid controversy
Ethereum (ETH) co-founder Vitalik Buterin praised the initiative on social media and highlighted that the report was a good way to find out “the kinds of things that EF spends money on.”
Buterin’s remarks come following the EF being questioned after sending 34,000 ETH to a Kraken handle, possible in a promoting motion. The quantity is equal to $94 million utilizing the worth of the switch’s day.
Given the numerous quantity, the crypto group on X questioned the place the EF would allocate the funds.
EF contributor Josh Stark addressed a number of the previous two years’ spending on social media on Aug. 27. Up to now, the EFESP has spent over $20 million in grants this yr, which is sort of 33% of the quantity destined as grants for projects final yr.
Based on on-chain data, the Ethereum pockets handle tied to the muse holds over $751 million in varied cryptocurrencies, with the biggest quantity being 273,532 ETH.
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