「Ethereum Savior」: Former Foundation Developer Proposes Raising $1 Billion to Establish ETH Advocacy Organization

BlockBeats News, May 22: Former Ethereum Foundation core developer Dankrad Feist proposed that at least $10 billion should be raised to establish a new Ethereum advocacy organization to "save" ETH. The current foundation, as a non-profit organization, holds less than 0.1% of ETH with no staking or fee income, leading to a disconnection from the network's economic interests and hindering the effective promotion of ETH price increase. The new organization needs strong financial support, competent and "battle-ready" leadership, and a board of directors with a direct interest in ETH price increase. Some funds could come from staking income to achieve closer economic alignment and accountability with the Ethereum ecosystem.

The Ethereum Foundation has recently experienced continuous talent drain, with Feist himself leaving last year to join the Layer 1 project Tempo. This week, two more researchers resigned, intensifying community dissatisfaction with the foundation's governance and ETH performance. Feist, a co-author of crucial scalability solutions like Danksharding, sparked heated discussions in the crypto community with his proposal, with some viewing it as necessary reform and others concerned about potential centralization risks.

For more details on the current situation of the Ethereum Foundation, please visit "Mass Exodus of Ethereum Foundation Core Members: Decentralization or Breakup?"