The Ethereum Community Foundation has now been officially established, aiming to drive up the price of ETH

BlockBeats News, July 2nd, according to The Block, based on an announcement by Ethereum core developer Zak Cole on the X platform, a new organization called the Ethereum Community Foundation (ECF) has been established to support institutional adoption of Ethereum infrastructure and ultimately drive up the price of ETH.

Cole stated that the organization has currently raised millions of dollars' worth of ETH, which will be used to support projects building "trust-neutral" technology. "Our treasury is already stocked with ETH donated by individual supporters," he said.

ECF stated on its official website: "All supported integration projects must facilitate the destruction of ETH. This mechanism aligns institutional usage with ETH holders' value. By prioritizing support for mechanisms that reduce ETH supply, we ensure adoption behavior strengthens the network's monetary integrity." In addition, all projects supported by ECF must meet two criteria: "immutable" and "tokenless."

The foundation is particularly focused on application projects that tokenize real-world assets (such as stocks, bonds, real estate, etc.) and will also fund projects that contribute to "public goods," including addressing the data availability (blob space) price imbalance issue.

Cole stated: "Project funding allocations will be determined through community voting," and noted that "all funding decisions and discussions will be 100% publicly transparent." He emphasized at the Ethereum community conference held in Cannes, France: "Every grant is public. Every project commits to aligning with ETH. Every dollar will drive up the value of ETH."

According to Cole's speech, ECF's first project is the "Ethereum Validator Association (EVA)," which aims to give network validators more say in protocol development, using staked ETH to express preferences. EVA will also fund the construction of validator infrastructure. It is currently unclear which organizations or individuals are supporting the foundation's operations. Cole mentioned that more details will be released in the coming weeks.