Ethlabs, a new non-profit research and development organization founded by former Ethereum Foundation researchers, aims to better prepare the network and its native token for institutional adoption.
“We believe Ethereum is positioned to grow significantly in adoption by institutions and by AI agents. And naturally, the ecosystem needs to dramatically expand its investment in talent and research to support this growth,” said Lee in a statement.
“The formation of Ethlabs demonstrates that key stakeholders are stepping up to help ensure Ethereum remains a leading platform for decentralized finance.”
The lab’s founding researchers previously contributed to efforts in finality, scaling, protocol economics, among other things, but its initial focus will be on getting institutions operating on-chain at scale.
Ethereum advocates have long criticized the Ethereum Foundation over its long-term vision and stewardship of the network.
Precise funding details for Ethlabs were not disclosed. The organization’s funders will not have influence over the research agenda, according to the organization’s announcement.
The price of Ethereum has not reflected the optimism among crypto participants amid the news, jumping 0.1% in the last 24 hours. The second-largest crypto asset was recently changing hands around $1,732, down more than 16% in the last month and now 65% from its all-time high of $4,946.
A representative for Ethlabs did not immediately respond to Decrypt’s request for comment.
