The Validator Fellows initiative will not be put in place.
We are allocating the funds to boost chain activity, as @kobov9000 alluded to, towards a Compound Fork as well as AI developments.
For @cryptotech and @peaceloveharmony’s questions regarding VDAO and HIPs, we are currently working on updating governance, reflected in the most recent HIP-31 that references previous HIPs 15 and 21 in order to improve governance. We have also opened HIPs to all validators to provide a more inclusive approach to proposals.