#2 Announcement of Euler Treasury Transaction

From: The Euler Foundation
To: The Euler Community

Announcement of Euler Treasury Transactions

The Euler Foundation would like to brief the community on two transactions, as previously noted in December.

The transactions perform on a services contract entered into by The Euler Foundation, with Euler Labs Ltd, covering research and development-related work.

The $1.42m USDC transaction was for the calendar period of 4Q2022. The more recent $1.79m transaction covers 1Q2023. The most notable increase in expenses QoQ were on the legal and security lines, in the wake of the attack on Euler in mid-March.

Transparency is core to the Euler ethos. In the near future, a breakdown of the Foundation’s expenses will be available to the DAO community.

Thank you,

The Euler Foundation