The Ethereum Foundation has once again transferred funds to Argot—2,469 stETH, about $4.34 million, and it just arrived an hour ago.
Let’s review the timing of this grant. Last July, the Foundation pledged to provide Argot with a total of 7,000 ETH in operating funds over three years. After receiving it, Argot didn’t hold back: it sold 4,826.6 ETH at an average price of $3,194, converting it into $15.417 million worth of USDC.
Today’s deposit is for the 4th-year tranche. Next July, there will be the final payment of 2,469 stETH.
Two things worth noting:
First, this time the Foundation directly sends stETH instead of ETH, effectively allowing the recipient to carry the staking rewards themselves—an approach that’s more refined.
Second, Argot’s past operations have tended to prioritize locking in profits and staying safe. Whether this batch of stETH will similarly be un-staked and sold for stablecoins is something to watch—monitor the on-chain actions closely, because every sell-off timing could be interpreted by the market and potentially amplified.
Ecosystem funding is a good thing, but the real signals the secondary market cares about are the direction of fund flows and the cadence of sell pressure.
#以太坊基金会 #Argot #stETH $ETH
Let’s review the timing of this grant. Last July, the Foundation pledged to provide Argot with a total of 7,000 ETH in operating funds over three years. After receiving it, Argot didn’t hold back: it sold 4,826.6 ETH at an average price of $3,194, converting it into $15.417 million worth of USDC.
Today’s deposit is for the 4th-year tranche. Next July, there will be the final payment of 2,469 stETH.
Two things worth noting:
First, this time the Foundation directly sends stETH instead of ETH, effectively allowing the recipient to carry the staking rewards themselves—an approach that’s more refined.
Second, Argot’s past operations have tended to prioritize locking in profits and staying safe. Whether this batch of stETH will similarly be un-staked and sold for stablecoins is something to watch—monitor the on-chain actions closely, because every sell-off timing could be interpreted by the market and potentially amplified.
Ecosystem funding is a good thing, but the real signals the secondary market cares about are the direction of fund flows and the cadence of sell pressure.
#以太坊基金会 #Argot #stETH $ETH