BlockBeats report, May 22: Former Ethereum Foundation core developer Dankrad Feist proposed raising at least $1 billion to establish a new Ethereum advocacy organization to "save" ETH. Currently, the Foundation, as a nonprofit, holds less than 0.1% of ETH and receives no staking or fee income, causing it to be disconnected from the network’s economic incentives and unable to effectively drive ETH price appreciation. The new organization would require strong financial backing, competent and "willing-to-fight" leadership, and governance by a board composed of stakeholders with direct financial interest in ETH price growth—partially funded by staking rewards—to achieve tighter economic alignment and accountability with the Ethereum ecosystem.
The Ethereum Foundation has recently experienced continued talent attrition: Feist himself left last year to join the Layer 1 project Tempo, and this week two additional researchers resigned, intensifying community concerns about the foundation’s governance and ETH’s performance. Feist, a co-author of key scaling solutions such as Danksharding, has sparked heated debate within the crypto community—some view his proposals as necessary reforms, while others fear they may introduce centralization risks.
For detailed updates on the Ethereum Foundation, see “Core Members of the Ethereum Foundation Depart En Masse: ‘Decentralization’ or ‘Breakup’?”