Seven Giants of Ethereum (ETH) Unite! “The $100 Billion Battle Has Begun!”

While Ethereum (ETH) continues to struggle with price declines, a significant development has occurred in the Ethereum ecosystem.

Accordingly, top protocols in the Ethereum ecosystem launched EPAA to ensure that on-chain infrastructure has a say in policy making.

At this point, seven major Ethereum protocol teams came together and announced the establishment of the Ethereum Protocol Advocacy Alliance (EPAA).

Major DeFi protocols on Ethereum, Aave, Uniswap, Lido Finance, Curve, The Graph, Aragon, and Spark Foundation, are included in the EPAA.

In its statement, EPAA stated that the alliance aims to coordinate policy efforts and inform lawmakers about the Ethereum ecosystem.

Backed by the Ethereum Foundation, EPAA represents over $100 billion in on-chain assets and will advocate for open, custody-free protocols in Washington.

“Until now, centralized crypto companies have exerted undue influence on the policymaking process.

The technologies and principles that make up on-chain infrastructure have often been misunderstood or overlooked.

We safeguard over $100 billion in assets through open, custody-free protocols that operate without intermediaries.

We will respond to policies with on-chain solutions based on the technical expertise and practical experience of the Ethereum ecosystem.”

EPAA emphasized that the establishment of the alliance is important at this point to balance the “excessive influence” of centralized cryptocurrency entities in policymaking.

EPAA ultimately specified four ways to engage with policymakers: providing technical expertise to policymakers, advocacy partners, and public consultations, producing practical resources, coordinating strategic engagement, and identifying areas of common technical interest.

*This is not investment advice.