Ethereum Foundation Allocates $8.5M in Grants for Q2, Supporting 98 Projects
The Ethereum Foundation Ecosystem Support Program (EFESP) has recently distributed approximately $8.5 million to back 98 projects, as outlined in the foundation’s first grants allocation report released on August 30.
While the report categorizes the projects by type, recipient, and contact details, it does not specify the exact amount each project received.
Most of the projects supported by the EFESP fall under the “Community & Education” label, with 41 initiatives receiving backing from the Ethereum Foundation (EF), including events like ETH conventions and small gatherings globally.
Furthermore, the EFESP aided 28 projects focused on “Cryptography & zero-knowledge proofs,” making it the second most supported category by the foundation. This category includes projects such as a protocol utilizing zero-knowledge technology to validate ownership of an Indian Residence ID on Ethereum, the development of a domain-specific language for crafting zero-knowledge circuits, and the creation of educational materials.
The EFESP also funded seven projects centered on “Developer experience and tooling,” two projects aimed at enhancing the “execution layer,” two projects for “general growth & support,” and three initiatives focused on “general research.”
Additionally, the grants for the second quarter also included initiatives to advance staking and protocol growth.
In response to recent controversies surrounding Ethereum (ETH), co-founder Vitalik Buterin commended the initiative on social media, emphasizing that the report offers insight into the types of projects the EF supports.
Buterin’s remarks come in the wake of questions raised about the EF’s transfer of 34,000 ETH to a Kraken address, likely for selling purposes, amounting to approximately $94 million based on the day’s transfer price.
The crypto community has been curious about where the EF plans to allocate these funds. EF contributor Josh Stark addressed some of the past two years’ spending on social media, revealing that the EFESP has disbursed over $20 million in grants this year, accounting for nearly one-third of the grants allocated for projects last year.
According to on-chain data, the Ethereum wallet associated with the foundation holds over $751 million in various cryptocurrencies, with the largest portion being 273,532 ETH.
