Last week, the Ethereum Foundation once again transferred out 35,000 ETH (worth nearly $100 million), which caused the community to question whether the Ethereum Foundation really spends so much money on development every year, and criticized the Ethereum Foundation's expenditure report for being opaque.
In response to this, ETHGlobal member Josh Stark posted a message on the social platform X yesterday (27), announcing important information about the Ethereum Foundation’s expenditure report to the community:
“Since EF spending has become a hotly debated topic recently, we will be responding to some of the major questions.”
Latest Ethereum Foundation Expenditure Report in Progress
First, Stark said that the Ethereum Foundation is currently preparing an updated expenditure report, which will cover expenditures in 2022 and 2023 and will be released before the Devcon SEA conference (November).
At the same time, Stark also revealed an overview of the spending information in this report, including its internal and external spending, such as:
L1 R&D includes funding for external project teams and internal expenditures within EF, of which internal expenditures account for 38% and external expenditures account for 62%.
Internal spending includes various EF teams, such as Geth, PSE, Solidity, Cryptography Research, Robust Incentives Group, and Devcon.
Stark also highlighted the Ethereum Foundation’s grant to the new organization:
“In the image I shared, the biggest new category is new organizations. A key goal of the Foundation is to help new organizations that can strengthen and support the Ethereum ecosystem in the long term. Under this category, our grants include:
Nomic Foundation;
Decentralized research center;
L2Beat
0xPARC Foundation;
Other Ethereum-related organizations and institutions.
Vitalik Buterin reveals his salary: 182,000 SGD per year
In response to Stark’s explanation of the foundation’s funding situation, Ethereum founder Vitalik Buterin also forwarded that all the key information of EF has been put into the chart by Stark, and more information will be updated in the future.
At the same time, when asked by a netizen Dark Crypto Larp about the salary issue that people are concerned about, Vitalik also frankly revealed that his annual salary is 182,000 Singapore dollars (Singapore legal currency, SGD), which is about 4.46 million Taiwan dollars.
Dark Crypto Larp responded:
“Wow, that’s really low compared to what other big company executives are paid.
Big respect to Vitalik."
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