Ethereum Foundation Sends 2,469 stETH Grant to Argot, On-Chain Data Shows

The Ethereum Foundation has provided a grant of 2,469 stETH to the Ethereum nonprofit development organization Argot, according to on-chain analyst Ember. According to Foresight News, the transfer occurred about one hour before the report and was valued at about $4.34 million. The report said the Ethereum Foundation previously provided Argot with three years of operating funding in July last year totaling 7,000 ETH. After receiving the funds, Argot sold 4,826.6 ETH at an average price of $3,194, receiving 15.417 million USDC. Ember said Argot has now received what was described as the fourth-year grant from the Ethereum Foundation, again totaling 2,469 stETH. The report added that Argot is expected to receive a final fifth-year grant in July next year, also for 2,469 stETH. On-chain transaction data showed the latest funds have been transferred into an address associated with Argot, the report said.