Ethereum Foundation launches new ESP grant program
On November 3, it was announced that the Ethereum Foundation has launched a new Ecosystem Support Program (ESP) grant initiative. This program will continue to offer grants open to everyone, but will now operate through two channels: a wishlist and calls for proposals. These channels are designed to address the most urgent needs in the ecosystem as identified by various Ethereum Foundation teams. The former will set high-level goals to guide key areas of work, focusing on broader themes rather than specific projects; the latter emphasizes clear deliverables or measurable outcomes, including predefined scope, requirements, and expected results.
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Deutsche Bank: After the three major central banks hiked rates simultaneously, the market may once again underestimate the terminal interest rate
Deutsche Bank points out that as central banks in the US, Europe, and Japan are tightening policy simultaneously, the market may still be underpricing the eventual terminal rates. With oil prices remaining high, inflation may spill over into core inflation and wages. Moreover, financial conditions have not tightened in tandem, which could weaken the effect of rate hikes. Citing the experience of 2022, Deutsche Bank notes that the market then expected a total of around 200 basis points of Fed rate hikes in the first year, but the final figure exceeded 400 basis points, illustrating that the market often underestimates the terminal rate.
