Ethereum Foundation Outlines Stance on Decentralized Finance Projects

The Ethereum Foundation has announced its commitment to supporting only decentralized finance (DeFi) projects that align with its core principles. In a recent statement, Vitalik Buterin emphasized the importance of financial empowerment and autonomy in today's world.

'DeFi isn't just another niche inside crypto,' Buterin noted. 'It's the inevitable evolution of finance.' He added that financial autonomy is a fundamental right, not a privilege, and that DeFi should aim to provide permissionless access to savings, risk management, and payments.

Buterin also introduced the concept of the 'walkaway test,' which seeks to ensure that protocols continue to function even if the founding team disappears or turns hostile. This is crucial for maintaining the integrity and security of DeFi initiatives.