Ethereum allocated close to $500M to ecosystem projects in 2022–23, according to a report.

The Ethereum Foundation reported that over $22 billion in treasury funds back Ethereum-based projects. The Ethereum Foundation revealed that nearly $500 million was allocated to ecosystem projects in 2022 and 2023.

The foundation’s 2024 annual report showed that entities within the Ethereum ecosystem spent $497 million on projects, with $240.3 million, or 48.3%, contributed by the Ethereum Foundation itself.

The rest of the funding came from organizations such as MakerDAO (now Sky), Optimism, Gitcoin, Decentraland, Aragon, Uniswap, and Starknet. MetaMask DAO and Protocol Guild also contributed, highlighting the collaborative spirit within the Ethereum community.

Ethereum supported by $22.2 billion in treasury funds

In addition to project funding, the Ethereum Foundation noted that the ecosystem is backed by more than $22 billion in treasury funds.

The treasuries are owned by foundations, organizations, and decentralized autonomous organizations (DAOs). Projects like Optimism, Uniswap, Mantle, Arbitrum, Gnosis, and Ethereum manage these funds. Projects like Ethereum Name Service hold billions in their treasuries, while the Ethereum Foundation has $970 million in its own treasury.

The report states that the amounts include both liquid and vested funds. The foundation noted that most project treasuries are primarily made up of their native tokens. It added:

"This implies that the total value of a project’s treasury exceeds the amount that can be immediately deployed in fiat terms. If a project attempted to sell a large portion of its treasury, it could significantly affect the price of the underlying token."

Nevertheless, the Ethereum Foundation highlighted that the amount demonstrates the "depth of resources" supporting Ethereum over the long term. The organization noted that even deploying a small fraction of the funds would be sufficient to sustain and grow the ecosystem.

Ethereum Foundation implements conflict of interest policy

The Ethereum Foundation mentioned in the report that it had introduced a conflict of interest policy. The policy requires Ethereum Foundation members to disclose any investments over $500,000, excluding Ether (ETH). The organization stated that members with high exposures may be excluded from decisions involving such conflicts.

Ethereum Foundation executive director Aya Miyaguchi stated on X that the policy is designed to "reinforce integrity" in their work and enhance the ecosystem's integrity.