Vitalik Buterin explains the Ethereum Foundation’s 2023 spending in response to community inquiries regarding the foundation’s spending.
The Ethereum Foundation‘s annual expenditures on new institutions increased, accounting for 23.8% of the foundation’s expenses in 2022.
The largest expense category, at 36.5%, was the expenditure on “new institutions,” which are organizations or entities that contribute to the Ethereum ecosystem. In 2023, the Ethereum Foundation’s expenses comprised Layer-1 (L1) research and development, which amounted to 24.9%.
Stark observed that the L1 expenses encompassed grants to external teams and internal research and development at the Ethereum Foundation. These grants included those to the core Ethereum client Go-Ethereum (Geth), Solidity research and development, Devcon, Ethereum’s Robust Incentives Group, and others.
In 2023, community development accounted for 12.7% of the foundation’s expenditures. The developer platform, internal operations, layer-2 research, and applied zero-knowledge work comprised the remaining 25.9% of the foundation’s capital expenditures, with a substantial 10.4% allocation.
Vitalik Buterin & Ethereum Foundation accused of neglecting DeFi
Kain Warwick, a seasoned DeFi developer, recently accused Vitalik Buterin and the Ethereum Foundation of being “anti-DeFi.” The developer alleged that the Foundation allocates only a minor portion of its annual budget to promoting development in the decentralized finance sector. It utilizes the vast majority of it for “nonsense.”
Buterin responded by emphasizing his commitment to sustainable initiatives and his utilization of decentralized exchanges.
The co-founder of Ethereum reaffirmed his dedication to the decentralized finance sector. However, he clarified that he is not interested in investing in projects with short-term or unsustainable outlooks, such as liquidity farming or temporary schemes that rely on issuing new tokens and dumping them on the market.
Solidity education is now available in secondary schools in Argentina, thanks to the Ethereum Foundation and ETH Kipu.
The Ethereum Foundation and ETH Kipu conducted a workshop in Buenos Aires, Argentina, to educate high school pupils about blockchain technology as part of their dedication to developing the Ethereum ecosystem.
In addition, ETH Kipu has announced plans to introduce internships in the blockchain sector and an online course in the Solidity programming language, which is used to develop smart contracts in Ethereum.
