Announcement of Transfer

From: The Euler Foundation

To: The Euler Community

Announcement of Transfer

The Euler Foundation would like to brief the community of its intention to streamline its financial operations by transferring 4,000,000 USDC to a designated bank account managed by the Foundation. The account is at a regulated bank, supervised by the Swiss Financial Market Supervisory Authority (FINMA). The USDC being transferred has already been approved by the DAO for distribution in past eIPs.

The purpose of transferring funds to a bank account is to more easily pay invoices for services that have been approved by the DAO. Examples of such invoices include those received from Euler Labs, for work approved in eIP 59.

The transaction is expected to be executed in the coming days.

Thank you,

The Euler Foundation