Ethereum Protocol Advocacy Alliance: A New Voice in Crypto Policy

The Ethereum Protocol Advocacy Alliance (EPAA) was announced on Tuesday, emphasizing the importance of establishing the group to counter the apparent “outsized influence” that centralized crypto entities have in policymaking. The alliance aims to ensure the principles and technologies underpinning onchain infrastructure are understood and not overlooked.

Key Players in the Alliance

The alliance comprises several prominent names in decentralized finance, including Aave Labs, Aragon, Curve, Lido Labs Foundation, Spark Foundation, The Graph Foundation, and the Uniswap Foundation. These entities collectively secure over $100 billion in assets through open, non-custodial protocols that operate without intermediaries. The alliance aims to leverage their pragmatic and technical experience to advocate for onchain solutions to regulatory challenges.

Support from the Ethereum Foundation

The group has the backing of the Ethereum Foundation, with co-executive director Tomasz K. Stańczak noting the foundation supports this “community-led coordination on advocacy.”

Balancing Lobbying Efforts

The previous election cycle in the US saw the formation of Fairshake, a crypto Political Action Committee (PAC) founded by venture capital firm a16z, crypto exchange Coinbase, and XRP-ledger creators Ripple. The PAC amassed $260 million to support its lobbying efforts, spending a total of $195.8 million, according to data from OpenSecrets. Given the stature of participants in the EPAA, it is expected to have sufficient resources to support policy initiatives and shape regulations.

Alliance Strategy

The EPAA has outlined four ways it will engage with policymakers, including: contributing technical expertise, producing pragmatic resources to explain technical information, coordinating strategic engagement to expand the reach of messaging, and identifying areas of common technical interest.

Ethereum's Continued Growth

The Ethereum ecosystem has seen a host of new initiatives recently focused on improving communication, branding, coordination, development, and onboarding. Earlier this month, the Ethereum Foundation revamped its grants program, opting for a more selective approach compared to its previous open application model. In late October, the foundation also launched “institutions.ethereum.org,“ as part of a bid to smoothly onboard more institutions into Ethereum.

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