Ethereum developer Zak Cole is at the forefront of a new initiative called The Ethereum Community Foundation (ECF), which primarily works to increase the economic value of digital assets.
The initiative was announced at the Ethereum Community Conference in Cannes, France.
Founded by Cole and a group of ecosystem supporters, the ECF has already raised “millions” and reportedly intends to assign the Treasury to projects that will force immutability, avoid issuing new tokens, and implement mechanisms to burn Ethereum.
These requirements are consistent with the Foundation’s mission to reduce the supply of circular ETH and strengthen the monetary policy of the network.
The ECF’s initial initiative known as the Ethereum Validator Association (EVA) has a major impact on validators in protocol development by allowing them to use silly ETH to inform preferences.
EVA will also invest in Validator Infrastructure to improve decentralization and network security.
Beyond the Validator initiative, ECF aims to fund real-world asset integration that brings traditional financial products such as equities, bonds and real estate to Ethereum’s blockchain. The Foundation believes these integrations are important for institutional adoption, which is seen as an important driver of long-term network values.
Additionally, ECF prioritizes funding for public goods that address technical challenges within the Ethereum ecosystem, such as adjusting the false priced blobspace used in the data availability layer.
Funding decisions will be managed by a coin voting, allowing the wider Ethereum community to participate in grant allocation decisions. The ECF emphasizes that all funding decisions, financial movements, and project milestones remain publicly transparent to ensure accountability and alignment with community goals.
The launch of the ECF is at a critical time for Ethereum as the network will be reorganised following executive changes at the Ethereum Foundation.
The ECF’s mission extends to engagement with governments, regulators and policymakers, promoting Ethereum as an infrastructure layer for trustworthy institutions. Although specific supporters for the foundation have not been made public, further announcements about its supporters and future funding rounds are expected in the coming weeks.
By focusing on projects that strengthen the economic integrity of ETH without introducing new tokens, the ECF positions itself as an alternative financing tool within the ecosystem. It aims not only to complement, but to distinguish it from current priorities of the Ethereum Foundation.
It is mentioned in this article
