The Ethereum Foundation (EF) borrowed $ 2 million in GHO, a decentralized stablecoin developed by AAVE, in a movement signaling a more in -depth commitment with decentralized financing strategies (DEFI).
In a position of May 29, the founder of Aave Stani Kulechov said that the foundation had borrowed $ 2 million in Gho tokens. “The EF not only provides ETH to Aave, but also to borrow from Aave,” wrote Kulechov, describing development as “the complete circle of challenge”.
The GHO is a stablecoin of decentralization and overleteralized from the Aave protocol. Unlike the centralized stables, the GHO is governed by the Decentralized Autonomous Organization of Aave (DAO), which oversees interest rates, collateral requirements and the selection of facilitators.
This decision highlights the growing commitment of the EF with the DEFI ecosystem, evolving towards more sophisticated cash strategies.
The Foundation did not immediately respond to a request for comments.
The Ethereum Foundation previously deployed $ 120 million in deff
The decision of the Foundation to borrow the GHO follows a previous deployment of $ 120 million in various protocols, signaling a change in the way he manages his cryptographic assets.
In February, the EF deployed 45,000 ether (ETH) on various DEFI protocols, notably Aave, Spark and Compound. At the time, ether was worth $ 120 million.
Kulechov previously described the deployment of the fund as “the greatest allocation of the Foundation in DEFI”. Due to the decision, the founder of Aave said that DEFI would win, expressing optimism because the EF added liquidity to the protocol.
In addition to Kulechov, the members of the community also celebrated this decision, supporting the eth holding quarter of the EF ETH. A member of the community said that development was a victory and that the foundation should “continue”, while User X said it would be positive for the EF to continue using its funds in this way.
In relation: The Ethereum Foundation unveils the security initiative to supplant inherited systems
Critics of the foundation selling ether
In January, members of the Ethereum community called on the Foundation to explore alternatives to the sale of ETH for operational funding. The community has suggested deffi tools such as stable -co -borrowing against ETH.
Eric Conner, co-author of the EIP-1559, criticized the sale of ETH, saying that the main case of the foundation seemed to pour his assets. He called “crazy” practice, urging the EF to put into play or use DEFI instead of selling.
Anthony Sassano, host of The daily Gweiproposed that the part of the eth eth and sell the rewards of staking. The community member also launched the idea of using Aave to borrow stablescoins against his assets.
https://www.youtube.com/watch?v=fwo0hw_94a4a
Review: Tradfi built Ethereum L2S for Tokensize Tillions in Rwas: Inside Story
