He said:
“They didn’t have to sell a single ETH to fund their objectives. Aave is designed for holders with conviction.”
The Ethereum Foundation has not officially commented on the transaction as of press time.
However, the crypto community has broadly supported the strategy, viewing it as a prudent approach to treasury management and long-term sustainability.
Maksym Blazhkun, the co-founder of WeNode, said:
“Borrowing without selling — that’s DeFi conviction in action. Ethereum Foundation playing it smart with Aave.”
According to DeFillama data, Aave is Ethereum’s dominant DeFi lending protocol, with over $43 billion in total value locked (TVL). GHO is Aave’s native overcollateralized stablecoin and currently has a circulating supply of $249 million.
According to blockchain analytics firm Token Terminal, active lending and GHO issuance are critical metrics that correlate directly with Aave DAO’s ability to generate revenue.
Meanwhile, this loan move follows EF’s recent efforts to reshape its treasury strategy after extended community complaints.
The borrowing reflects a strategic shift away from liquidating ETH to finance operations. Instead, EF is now tapping into DeFi lending to maintain its holdings while generating yield.
