Ethereum Foundation Launches New Initiative to Fund Privacy Developers

On October 10th, as per an official announcement, the Grants Team of the Ethereum Foundation has entered into a partnership with Keyring Network to launch a new funding mechanism aimed at providing support to privacy developers. The zkVerified permissioned vault deployed on the Keyring mainnet offers compliant and privacy-preserving access to the DeFi lending market. For the initial two months, all protocol fees from the Keyring zkVerified vault will be donated to the legal defense fund of Roman Storm and Alexey Pertsev. These two Tornado Cash developers are currently undergoing a trial due to the release of open-source code. The Ethereum Foundation has stated that this model guarantees that the initial users of the vault can directly contribute to the legal defense of privacy-focused developers.