The Ethereum Community Foundation (ECF), a new organization spearheaded by core Ethereum developer Zak Cole, has announced its mission to drive Ethereum's price to $10,000. The initiative was unveiled during Ethereum Community Conference 8 (ETHCC) in Cannes, France.
ECF's Core Objectives
- ETH Price Advocacy: Prioritizing ETH's value as a digital asset class
- Ecosystem Funding: Supporting infrastructure projects that enhance Ethereum's utility
- Community Representation: Serving ETH holders directly through transparent initiatives
"ECF exists to say what Ethereum Foundation won't say and do what they won't do," Cole stated during his keynote. "ETH holders deserve active stewardship of their asset's value."
Funding Criteria
Projects seeking ECF grants must:
- Use Ethereum as settlement layer (generating ETH burn)
- Maintain non-tokenized structures
- Demonstrate protocol immutability
- Avoid venture-backed token models
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First Grant Recipient
The Ethereum Validator Association (EVA) became ECF's inaugural funded project, enabling validators to:
- Influence EIP roadmaps
- Shape client priority selection
- Participate in monetary policy decisions
"Our representative model ensures validators' voices directly impact protocol development," Cole explained, noting potential conflicts like Offchain Labs' stake in Prysmatic Labs (operator of Prysm client).
Key Controversies
ECF publicly criticized:
- Projects like Uniswap/ENS that "abandoned public good principles" with VC-backed tokens
- Ethereum Foundation's alleged neglect of ETH's asset valuation
- Layer-2 networks with concentrated governance influence
FAQ Section
Q: How does ECF differ from Ethereum Foundation?
A: ECF focuses explicitly on ETH price appreciation and holder interests, while EF prioritizes protocol development.
Q: What qualifies projects for ECF funding?
A: Must enhance ETH burn, remain non-tokenized, and demonstrate public benefit.
Q: Why target $10K ETH price?
A: Cole argues price directly correlates with network security - higher valuation attracts more stakers.
Q: How can validators participate in EVA?
A: Through client performance-based voting mechanisms that influence EIP adoption.
Q: What's ECF's stance on Layer-2 solutions?
A: Supports scaling but criticizes governance centralization via VC-backed tokens.
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