Ethereum Community Foundation Has Mandate For $10K Ether
An Ethereum core developer, Zak Cole, has established the Ethereum Community Foundation (ECF) to enhance the Ethereum ecosystem and target a price of $10,000 for Ether (ETH). Cole criticized the Ethereum Foundation for neglecting ETH as an asset class and stated that ECF will fund infrastructure projects that increase ETH burn and support public goods. Grants will be awarded to projects that utilize Ethereum as a settlement layer and are tokenless and immutable. The Ethereum Validator Association (EVA) is the first recipient of an ECF grant, allowing validators to influence Ethereum's monetary policy. Cole also raised concerns about conflicts of interest involving Offchain Labs and Prysmatic Labs, highlighting the need for publicly funded projects to benefit their contributors.
