$ETH Cannes, France ā July 3, 2025** ā A significant
new player has entered the Ethereum ecosystem, promising a starkly different approach from the established Ethereum Foundation (EF). Zak Cole, a prominent Ethereum core developer, unveiled the **Ethereum Community Foundation (ECF)** at the EthCC 8 conference, declaring its mission to "do what the EF won't" and explicitly targeting a $10,000 price for Ether (ETH).ā
**Filling a Perceived Void: Asset Focus and Community Action**š
Cole positioned the ECF as a direct response to what he perceives as a critical gap in the Ethereum Foundation's strategy: the neglect of ETH as a valuable asset class. "We are the Ethereum Community Foundation," Cole stated emphatically. "We say what the [Ethereum Foundation] canāt, we do what the [Ethereum Foundation] wonāt. We serve ETH holders because you deserve better."š„
The ECF's core mandate intertwines ecosystem growth with ETH price appreciation. Cole argues that ETH's price is a "direct function of security," and reaching the $10,000 mark is essential for the network's long-term health and robustness. The foundation aims to achieve this by strategically funding projects that directly contribute to ETH's economic mechanics and infrastructure.ā¤
**Strategic Funding with Strings Attached**šÆ
The ECF has outlined clear criteria for grant recipients, designed to maximize value accrual to ETH and its holders:š„
1. **ETH Burn Focus:** Projects must use Ethereum as their settlement layer, ensuring transaction fees contribute to ETH's deflationary burn mechanism.
2. **Public Goods & Infrastructure:** Funding priority goes to projects advancing core infrastructure, scaling solutions, and public goods benefiting the entire ecosystem.š
3. **Anti-Venture Token Model:** Projects must be "tokenless and immutable." The ECF explicitly rejects the model where projects receive EF support only to later launch venture capital-backed tokens, stating: "Publicly funded projects should remain public and benefit those who have paid for them."šŖ
**First Beneficiary: Empowering Validators**
The ECF announced the **Ethereum Validator Association (EVA)** as its inaugural grant recipient. Cole positioned the EVA as crucial for giving validators ā the entities securing the Ethereum network ā a formal voice in shaping Ethereum's monetary policy. This includes influencing EIP (Ethereum Improvement Proposal) roadmaps and client development priorities.ā¤š
"The EVA introduces validator representation," Cole explained, adding that it would empower client teams based on performance. He also highlighted a potential conflict of interest involving Offchain Labs (developers of Arbitrum) holding an ownership stake in Prysmatic Labs (developers of Prysm, Ethereum's second-largest consensus client), suggesting the EVA could help mitigate such concerns.šā„ļø
**Criticism and Unanswered Questions**
Cole's launch was marked by sharp criticism of the Ethereum Foundation, accusing it of neglecting ETH's value as an asset. The ECF positions itself as the champion of everyday ETH holders frustrated by this perceived oversight. Cointelegraph reached out to the Ethereum Foundation for comment regarding the ECF's criticisms and its own stance on ETH's price, but received no response by publication time.š¤
**A New Chapter for Ethereum?**šµ
The launch of the Ethereum Community Foundation signals a potential shift in the Ethereum governance and funding landscape. By explicitly tying its mission to ETH price appreciation ($10,000 being the bold target), enforcing strict pro-ETH economic criteria for grants, and positioning itself as the voice for validators and holders, the ECF is carving out a distinct and potentially disruptive niche. Whether it successfully challenges the Ethereum Foundation's influence and achieves its ambitious goals remains a critical story for the Ethereum ecosystem to watch.š„°š„°
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