Golem, Raised 820,000 ETH in 2016 ICO Ironically, Now Stakes 98,016 ETH

the Golem Foundation has staked 98,016 ETH (equivalent to $183M) into Ethereum’s Proof of Stake (PoS) system, as reported 15 hours ago. This move is noteworthy as it represents a substantial portion of the 820,000 ETH ($8.52M) that the Golem project had raised during its Initial Coin Offering (ICO) on November 11, 2016.

The Golem Network is “a global group of creators building ambitious software solutions that will shape the technological landscape of future generations by accessing computing resources across the platform.” The Golem project, a decentralized marketplace for computing power, has been a pioneering force in the blockchain space. It was one of the first projects to crowdfund for building, and its first implementation, Brass Golem, became operational in 2018. The project’s primary objective is to provide computing resources for demanding projects without the involvement of central authorities. 

Ironically, the Golem project still holds a significant amount of ETH from its ICO. Out of the 820,000 ETH raised, 721,984 ETH (worth approximately $524M) is still in their possession.

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