Ethereum Foundation is halting new ESP grant applications to reevaluate funding, but continues to support existing grant recipients.

Ethereum Foundation is halting new ESP grant applications to reevaluate funding, but continues to support existing grant recipients.

Ethereum Foundation pauses new ESP funding applications to reevaluate funding

The Ethereum Foundation has decided to temporarily suspend accepting new applications for the Ethereum Sustainability Program (ESP). This decision was made to undertake a comprehensive reassessment of existing funding. During this phase, however, support for projects that have already been funded will continue.

This measure aims to manage the Ethereum Foundation's resources more efficiently and ensure that future funding can be used in a targeted and sustainable manner. The pause in submitting new applications allows the foundation to assess the effectiveness of current projects and make potential adjustments to the funding strategy.

The Ethereum Foundation remains committed to promoting innovative and sustainable developments in the Ethereum ecosystem. By re-evaluating funding, the foundation aims to ensure that the projects it supports reflect Ethereum's visionary goals and contribute to the long-term health of the network.

In the coming weeks, the Ethereum Foundation will provide further information about the restart of the application process and the criteria for future funding. The community is invited to keep abreast of progress and decisions in this important area.

For existing funding recipients, the Ethereum Foundation continues to offer support to ensure that ongoing projects can be successfully implemented.

This initiative from the Ethereum Foundation demonstrates the organization's commitment to responsibly promoting the development of the Ethereum network while taking into account the needs of the community.