Ethereum (ETH) Foundation Temporarily Suspends Ecosystem Support Program Grant Disbursements
Summary
- The Ethereum (ETH) Foundation said it has temporarily suspended open grant application submissions for the Ecosystem Support Program (ESP).
- It said this is a move to transition to a more strategic funding model.
- It said that Ethereum (ETH) is trading at 4345.18 dollars, down 3.09%.
On the 29th (local time), according to crypto asset (cryptocurrency) media Cointelegraph, the Ethereum (ETH) Foundation's Ecosystem Support Program (ESP) has temporarily suspended open grant application submissions. This is a measure to transition to a more strategic funding model.
ESP has supported the expansion of the Ethereum ecosystem by providing approximately 3 million dollars to a total of 105 projects during 2024. The Foundation plans to unveil a new funding model in the fourth quarter of this year.
The industry views this move not as a simple suspension of grant disbursements but as a strategic turning point to strengthen long-term Ethereum ecosystem growth.
Based on the Binance Tether (USDT) market at 02:35 on the 30th, Ethereum was trading at 4345.18 dollars, down 3.09% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
