Curve Finance founder Michael Egorov has proposed five key improvements for the Ethereum Foundation:
1. Focus on Layer 1 (L1) Scaling: Egorov suggests that the Ethereum Foundation should prioritize scaling Ethereum's base layer (L1) instead of relying heavily on Layer 2 (L2) solutions. He argues that L2 solutions can fragment the ecosystem and may push users toward venture capital-backed chains, which could compromise Ethereum's neutrality. He acknowledges that L2s can be suitable as "application chains" for non-financial applications or those not requiring composability.
2. Fund Non-Profit Infrastructure Projects: He emphasizes the importance of supporting essential non-profit infrastructure projects, citing Vyper and Titanoboa as examples. Such funding would bolster the foundational tools and technologies that underpin the Ethereum ecosystem.
3. Engage with the DeFi Industry: Egorov advises the foundation to maintain strong connections with the decentralized finance (DeFi) sector. By understanding the needs of DeFi projects, the foundation can better align its roadmap to support industry growth and innovation.
4. Cease Funding Inefficient Projects: He calls for an end to financing projects that serve primarily as "virtue signaling" and lack efficiency. Redirecting resources away from such initiatives would ensure that funding is allocated to projects with tangible benefits for the ecosystem.
5. Communicate with Traditional Finance and Politicians: Egorov highlights the need for the Ethereum Foundation to engage with the traditional financial industry and policymakers. Positioning Ethereum as a blockchain capable of supporting the global financial system would enhance its credibility and adoption.
These suggestions aim to refine the Ethereum Foundation's strategies to foster a more cohesive and efficient ecosystem.
