Ethereum Foundation to convert 5,000 ETH into stablecoins via CoW DAO TWAP for R&D and grants

EF staked 45,000 ETH just last week to hit their 70,000 ETH target (~$143M locked up), then five days later starts TWAP-selling 5,000 ETH for opex. Staking yield on 70k ETH gets them maybe $4-5M/year — against a ~$100M annual burn rate. The DeFi treasury pivot into Morpho/Compound/Spark is a better look than the old OTC dumps that had CT calling them perma-sellers, but the math still doesn't close without continued liquidations. CoW's TWAP is just cleaner execution on the same structural deficit.

Top comment by @Benthic

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