Ethereum Foundation sends 2,469 stETH to Argot as fourth annual grant

The Ethereum Foundation is once again making a large payment to Argot, a non-profit organisation focused on Ethereum development. It concerns 2,469 stETH worth $4.34 million, which is the fourth annual tranche within a five-year funding plan. The final payment of another 2,469 stETH is scheduled for July 2027.

Ethereum is available at OKX and Bybit.

Fourth tranche of five-year funding plan

According to on-chain data shared by EmberCN among others, the Ethereum Foundation sends the 2,469 stETH from its own wallet to a Gnosis Safe Proxy. That wallet is linked to Argot, the organisation that uses this money to finance its development activities around the Ethereum ecosystem.

It is not the first time Argot has received a substantial sum. Last year, the organisation received a grant of 7,000 ETH. A large part of that, namely 4,826.6 ETH, was subsequently converted into stablecoins: Argot sold that ETH for approximately 15.42 million USDC to cover its daily operational costs.

Ethereum price barely reacts

The Ethereum price stands at $1.765 at the time of writing, a slight decline of 0.2% in the past 24 hours. The stETH transfer has so far had no noticeable effect on the market, which is logical given the structured and pre-announced nature of the five-year plan.

With one tranche remaining, the Ethereum Foundation’s funding plan towards Argot comes to an end in 2027. Whether the collaboration will get a new look after that is not yet known. For now, this fourth payment ensures that Argot can continue its work on the Ethereum network in the coming period.