CMC News

#Ethereum Community Foundation Launches With $10,000 $ETH Target

Core developer Zak Cole has established the Ethereum Community Foundation to address what he calls the #Ethereum Foundation's neglect of the $ETH price.

The new organization aims to fund infrastructure projects that simultaneously grow the ecosystem and increase $ETH value.

Cole stated the ECF will "say what the Ethereum Foundation can't" and "do what the Ethereum Foundation won't."

Grant recipients must use Ethereum as a settlement layer, creating $ETH burns through mainnet transaction processing.

Projects must remain tokenless and immutable to qualify for ECF funding, unlike previous Ethereum Foundation recipients.

Cole criticized #Uniswap, ENS, and Optimism for launching venture-backed tokens after receiving public foundation support.

The Ethereum Validator Association becomes the first ECF grant recipient, giving validators input on #monetary policy decisions.

Cole argues that $ETH needs to reach $10,000 for optimal network security, making price appreciation a core foundation mandate.