I'm confused by how the EF has such a high run rate

It seems like we need our own DOGE, or Department of Ethereum Efficiency, to tackle this and a bunch of other bloat across the ecosystem

Ethereum R&D || Bulbasaur Research intern

Their recent cast about using SAFE also led me to wonder where these funds were coming from prior? SAFE has been around for a few years and is pretty much the standard as a base layer for community, multisig vaults. Curious as to why its taken this long for EF to embrace it and how things were handled prior?

editor [redacted] prev: everyname (acq. Q4 '23)

Their recent cast about using SAFE also led me to wonder where these funds were coming from prior? SAFE has been around for a few years and is pretty much the standard as a base layer for community, multisig vaults. Curious as to why its taken this long for EF to embrace it and how things were handled prior?

https://warpcast.com/adam-/0x38f97538

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EF gives me the vibes of the traditional non profit industry, inefficient, sclerotic, and fundamentally not effective in what they do

Limited interaction with some of their grants team, but was somewhat unimpressed (despite successfully getting a grant)

It needs to be completely reformed to be more in lockstep with the current state of Ethereum, and Vitalik needs to initiate it

I think they should cut the budget down to single digit millions, or less

Split out core functions into independent operating entities

For example one entity should solely focus on maximizing yield from their holdings, similar to how universities have financial teams focused on growing their endowments and entirely separate functions for distributing grants and others ops

I know universities are perhaps not a good reference for good org ops, but just directional guidance

Agreed! I want to believe @vitalik.eth can lay out a vision that is in step with how things can be done more efficiently, and aligns with how the technology and network have evolved since it's inception. 

My concern is that things are too bureaucratic for it to make these changes efficiently. Then again, I don't know what work is already being done to improve on things outside of finally embracing Safe.