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Ethereum Foundation to convert 1000 ETH to stablecoins via CoWSwap
The conversion supports ongoing funding for R&D, grants, and donations while highlighting decentralized execution through CoWSwap.
The Ethereum Foundation plans to convert 1,000 ETH to stablecoins using CoWSwap, a decentralized exchange protocol that facilitates crypto asset swaps. At current prices, the transaction is worth more than $4.5 million.
The foundation will utilize CoWSwap’s Time-Weighted Average Price (TWAP) feature to execute the conversion, which enables time-averaged price executions to minimize market impact during large swaps.
The move is part of its ongoing work to fund R&D, grants, and donations, while also showcasing the power of DeFi.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.