Former Ethereum Foundation researcher proposes $1 billion fund for new advocacy group.

MarsBit

Release Time: 05/22/2026 00:12:43

ETH

$2,068.38-3.03%

Summary

Former Ethereum Foundation researcher Dankrad Feist has proposed raising $1 billion to establish a new organization dedicated to supporting Ethereum. Feist, now at the layer 1 blockchain Tempo, argues that the Foundation holds less than 0.1% of ETH and generates no staking income. The proposed entity would be governed by a responsible board and funded by EVM-compatible staking revenues. Feist co-created Danksharding and championed EIP-9698 to increase gas limits.

Huo Xing Finance reports, according to The Block, former Ethereum Foundation researcher Dankrad Feist posted on X, proposing the creation of a new organization aligned with Ethereum’s economics to “save” Ethereum. He argues that the Ethereum Foundation currently holds less than 0.1% of ETH, with no staking or fee income flowing in, and therefore the new organization must raise at least $1 billion in funding, managed by competent leadership, with part of the capital derived from staking rewards and guided by a more responsible board to drive Ethereum’s price upward. Feist left the Foundation last year to join the Layer 1 network Tempo. He previously co-created the Danksharding sharding design with the Ethereum community to enhance Layer 2 scalability, served as a strategic advisor during the Foundation’s leadership restructuring on areas such as L1 scaling and user experience, and proposed EIP-9698 to increase the gas limit by 100 times.

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