Ethereum Foundation, the reason behind the large transfer of 160,000 ETH is revealed...

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Ethereum Foundation moved over 160,000 ETH worth about $610 million to a new wallet on Wednesday. The foundation stated this fund transfer was a “planned” migration from their existing multi-signature solution to a new multi-signature wallet by Safe.

Safe와 이더리움 재단은 자금이 보안을 강화하기 위해 설계된 다중 서명 Safe Wallet으로 이전되었다고 발표했습니다. 재단의 공동 이사인 Hsiao-Wei Wang은 X (formerly Twitter)를 통해 이 조치가 계획된 작업의 일환이라고 설명했습니다.

Safe Multi-Signature Migration

According to reports on October 23, Safe has been collaborating with the foundation since February to test protocols like Aave, Cowswap, and Morpho. Based on the verified reliability of a 3-of-5 multi-signature setup, the foundation integrated the remaining ETH from their custom multi-signature solution into Safe. Wang stated in January via X that “Safe is not only stable but also provides an excellent user experience” and that “more funds will be moved to this wallet in the future.”

Safe's technology has so far processed over 7.5 million transactions from more than 575,000 accounts and securely managed over $65 billion in assets. Safe supports businesses, decentralized autonomous organizations (DAOs), and individual users. Ethereum co-founder Vitalik Buterin has mentioned that he keeps over 90% of his cryptocurrency assets in a Safe multi-signature wallet.

Decentralized Financial Policy and Foundation Operations

In June this year, the Ethereum Foundation updated its financial policy, adopting a 'DeFiPunk' approach to deploy funds in decentralized finance (DeFi) protocols. This is a measure to support community development while maintaining operational security. The foundation plans to use about 15% of its funds annually, gradually reducing this to 5% within 5 years.

ETH7.25%
AAVE8.38%
MORPHO6.57%
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