TL;DR
#币安Alpha上新
Expenditure policy adjustment: In 2025, the Ethereum Foundation (EF) will utilize about 15% of the treasury to ensure a 2.5-year operational buffer; gradually reducing to 5% in the future to achieve financial sustainability.
Crypto asset strategy:
ETH sale mechanism: regularly assess whether to sell ETH to align with operational goals.
ETH deployment methods: solo staking, lending protocol deployment, and possibly borrowing stablecoins to enhance returns.
Investment considerations: emphasize security, decentralization, risk-reward balance, and strategic support for the Ethereum ecosystem.
Fiat asset management: allocated to instant liquidity assets, liability-matching reserves, and tokenized RWA, enhancing fund liquidity and risk resistance.
Enhancing transparency: quarterly and annual financial reports will be publicly available, detailing treasury structure and allocation changes.
The Defipunk vision under Cypherpunk principles: supporting DeFi protocols centered on security, privacy, and open source, resisting centralization trends, and leading a new generation of decentralized financial infrastructure.
1. Macro policy adjustments: from maintaining the status quo to proactive layout
The Ethereum Foundation (EF) will adjust its asset-liability management strategy to balance liquidity, security, and strategic needs. Two core variables:
A: Annual operating expenses as a proportion of the treasury (currently 15%)
B: Operational buffer duration (currently set at 2.5 years)
The goal is to ensure sufficient funds during critical development periods (2025-2026), gradually reducing operational expenses towards an annual 5% financial stability line.
In addition, EF will maintain a 'counter-cyclical operation' posture: providing support during bear markets and rational contraction during bull markets.
2. ETH strategy: the art of balancing sale and deployment
EF will periodically assess the deviation of fiat reserves from buffer targets to determine whether to sell ETH.
The current operation of ETH includes:
Solo staking to ensure network security;
Deploy wETH to mature lending protocols;
Borrow stablecoins to enhance on-chain yields;
Plans to include audited DeFi pools and tokenized RWA to optimize ETH allocation.
All deployments are predicated on security, liquidity, and risk assessment to avoid systemic risks.
3. Fiat-denominated assets: three major structures support operational resilience
EF's fiat assets will be allocated into segments:
Instant liquidity assets: cash and highly liquid currency instruments;
Liability-matching reserves: low-risk bonds and time deposits;
Tokenized RWA: on-chain assets that meet the same prudent standards.
This structure aims to enhance liquidity, improve resilience, and ensure operational funds are readily available.
4. Strengthening transparency mechanisms: quarterly reviews + annual disclosures
The EF financial team will provide regularly:
Quarterly report: covering treasury performance, open positions record, and ecological participation dynamics;
Annual report: disclosing treasury structure, allocation ratios, and idle vs. deployed ETH ratios.
The report is managed by the financial team, with the executive directors reporting to the board to ensure transparent accountability.
5. The Defipunk vision: a future finance centered on privacy and sovereignty
The Ethereum Foundation proposes the 'Defipunk' evaluation framework, aiming to promote decentralized financial protocols that align with the spirit of crypto punk. Core features include:
High security and openness;
Self-custody and permissionless access;
Actively apply cryptographic tools to defend user privacy;
Preferred technical solutions that minimize reliance on trust mechanisms;
Decentralized UI and distributed governance;
Avoid centralized backends, whitelists, and KYC as much as possible.
EF will guide more projects towards the Defipunk direction through research, funding support, and governance participation, and will first practice this concept in its treasury management.
6. Future outlook: Defipunk is Ethereum's 'orthodoxy'
EF has clearly stated that it will exist long-term and will support the construction of a native financial system that follows the principles of an open society and serves global users through more proactive capital allocation.
EF not only focuses on the decentralization, openness, and privacy of projects but will also promote its internal governance and financial system towards greater transparency, security, and anonymity.
Summary:
This major policy adjustment by EF not only clarifies its funding usage paths but also reaffirms its commitment to the core values of DeFi—Defipunk is not just a slogan, but the cornerstone of Ethereum's future.
For further understanding of EF's Defipunk evaluation standards, compliance models, or typical project references, please continue to check subsequent in-depth analysis documents.
Keep up with Su Ge, use precise strategy analysis, and select with millions in AI big data to keep yourself undefeated? The market never lacks opportunities; the question is whether you can seize them. By following experienced and right people, we can earn more!
