Former Ethereum Foundation Core Developer Proposes Raising At Least $1 Billion to Establish New Ethereum Advocacy Organization to 'Save' ETH
Former Ethereum Foundation core developer Dankrad Feist proposed raising at least $1 billion to establish a new Ethereum advocacy organization to 'save' ETH.
He pointed out that the current foundation, as a non-profit organization, holds less than 0.1% of ETH and has no staking or fee income, leading to a serious disconnection from the economic interests of the network, making it ineffective in promoting ETH price increases.
The new organization needs strong financial support, a combative leadership team, and a board managed by individuals directly related to ETH prices. Some funds could come from staking income to achieve economic alignment and higher accountability.
Source: Public Information
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Dankrad Feist, as the author of key scaling solutions like Danksharding, left the foundation last year to join Layer 1 project Tempo. His public suggestion continues his long-standing criticism of Ethereum's governance structure. The foundation has already seen multiple rounds of talent loss, with two researchers resigning this week.
On the capital front, Feist advocates for mechanisms like staking income to provide ongoing funding for the new organization, directing resources towards a board structure with direct economic incentives. The motivation is to address the foundation's current fundamental issue of having 'no skin in the game,' deeply binding the advocacy organization with ETH holders and the long-term success of the network, promoting more active ecological development and price performance.
Similar to other L1 projects that align team and network interests through token incentives, and the Ethereum community's long-standing dissatisfaction with the foundation's conservative style, the current Ethereum ecosystem is in a discussion phase transitioning from a traditional non-profit foundation to a more commercial, aligned advocacy entity, with calls for reform significantly rising.
Essentially, this is about capital concentration: the new organization proposal shifts pricing power from a low-incentive non-profit structure to an entity with strong economic interest binding. The mechanism is that the foundation holds very little ETH and lacks income sources, leading to a disconnect between action and market performance. By binding a $1 billion scale fund and interests to the board, a more efficient resource allocation and ecological driving force can be formed, but it also raises concerns about centralization risks.
ABAB News · Law of Cognition
An organization without skin in the game can never truly fight for price.
The purer the non-profit, the worse the economic alignment; when incentives fail, reform becomes inevitable.
$1 billion is not charity, but a structural leverage to bind interests and drive ETH price up.