Aragon and other top 6 Ethereum protocols are reportedly establishing the “Ethereum Protocol Advocacy Alliance (EPAA).” The Ethereum Protocol Advocacy Alliance includes the Uniswap Foundation, The Graph Foundation, Spark Foundation, Lido Labs Foundation, Aragon, and Aave Labs to coordinate worldwide crypto policy. As mentioned in the official press release of Aragon, the EPAA aims to protect the decentralized infrastructure of over $100B in assets on-chain. Therefore, the initiative reinforces security, neutrality, and transparency while advancing regulation that backs innovation rather than stifling it.
EPAA Unifies Ethereum Protocols Like Aragon to Advocate for Blockchain Policy
According to Aragon, the Ethereum Protocol Advocacy Alliance (EPAA) includes the top seven Ethereum protocols to shape the crypto policy across the globe and secure $100B in on-chain digital assets. Thus, the purpose of this endeavor is to guarantee that lawmakers recognize technical realities dealing with on-chain systems and decentralized finance. Additionally, the protocol teams developing and maintaining the decentralized infrastructure of Ethereum are now looking to guarantee the adequate representation of their perspectives.
While discussing this effort, Aragon’s CEO, Anthony Leutenegger, stated that there is a practical and technical complexity existing in the development of on-chain systems. He added that, by bringing together the key credible protocol teams, the alliance will assist in ensuring the operability of regulatory outcomes for developers driving this space.
Additionally, the alliance has built 4 noteworthy policy priorities, with one dealing with the protection of the protocol layer’s neutrality. Additionally, another key focus is the advancement of on-chain transparency in the form of a real-time compliance instrument. Simultaneously, the other priorities include preservation of flexibility in the case of ongoing innovation and preserving permissionless and global blockchain network access.
Key Milestone for Ethereum’s Future and Web3 Policy
Lido Labs Foundation’s Chief Legal Officer, Sam Kim, said that EPAA ensures that policy acknowledges and secures resilience and credibility of Ethereum. In this respect, the EPAA will partner with notable advocacy entities, such as the DeFi Education Fund, the European Crypto Initiative, and the Decentralization Research Center. As per the Uniswap Foundation’s General Counsel, Brian Nistler, the platform has repeatedly faced undue regulatory inspection.
Therefore, he added, it is crucial for actual developers to be present when policy is being shaped for decentralized financial ecosystems. Ultimately, the Ethereum Protocol Advocacy Alliance denotes a crucial moment for the wider Web3 world, aligning with the decentralized networks’ technical structure while also preserving permissionless, borderless, and open ethos of Ethereum.
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