On July 2, PANews reported that Ethereum core developer Zak Cole announced the establishment of the Ethereum Community Foundation (ECF), whose mission is to support institutional adoption of Ethereum infrastructure and ultimately drive up the price of ETH. The organization has so far raised millions of dollars worth of ETH, which will be allocated to projects building trustworthy neutral technology.
The ECF will focus on funding "immutable and tokenless" projects, particularly, the foundation is seeking to support real-world asset applications that put stocks, bonds, real estate, and other assets on-chain. It will also focus on projects that contribute to “public goods,” including fixing mispriced blob space. The foundation will decide grant allocations through token voting, with all funding decisions and discussions being completely transparent. The first project of the ECF will be the "Ethereum Validator Association," aimed at empowering network validators with "development voice" and expressing their preferences by staking ETH.
