Ethereum The Foundation converted 1000 ETH, worth nearly $4,5 million, into stablecoins. The transaction was conducted through CoWSwap using the TWAP strategy to minimize market impact and support its mission, which is focused on DeFi.
Ethereum The Foundation converted 1000 Ethereum into stablecoins using CoWSwap’s TWAP function as part of our ongoing work to fund research and development, grants and donations, and to demonstrate the capabilities of the Foundation. DeFi, — the organization wrote on its social media.
The Fund has a policy whereby its treasury seeks to find a balance between achieving above-average returns and responsible stewardship of Ethereum with a focus on DeFiThe fund also aims to protect its budget from cryptocurrency volatility by converting ETH into fiat-based assets. The stablecoins received this time in exchange for altcoins are described in Ethereum The Foundation did not specify.
This year, the foundation underwent a restructuring and suspended applications for grants under the Ecosystem Support Program. In April, the organization hired two co-executive directors, Xiao-Wei Wang and Tomasz K. Stanczak.