TLDR
- Dankrad Feist proposed creating a new Ethereum-focused organization with at least $1 billion in funding.
- He said the new group should be economically aligned with Ethereum and accountable to the community.
- Feist argued that the organization should have competent leadership and a board with stronger oversight.
- He said the group should also have a mandate to help support ETH’s value.
- The proposal added fresh pressure on the Ethereum Foundation on Thursday.
Pressure on the Ethereum Foundation rose on Thursday after former core developer Dankrad Feist proposed a new Ethereum-focused organization. Feist said the group should raise at least $1 billion and operate with leadership accountable to the Ethereum community. His proposal added to concerns about governance, staffing exits, and Ethereum’s market performance.
Ethereum Foundation Draws New Criticism After Feist Proposal
Feist outlined the idea in a post on X and framed it as a way to “save” Ethereum. He said the community needs an organization “economically aligned with Ethereum and accountable to it.”
He proposed a board with stronger accountability and a clear mandate to support ETH. He also said the group should aim to help Ethereum’s price rise.
Feist said the organization should have at least $1 billion in funding. He added that staking revenue could help support its operations.
His comments focused attention on the Ethereum Foundation, the non-profit that stewards development of the blockchain. Ethereum is the world’s second-largest blockchain by market value.
Feist also argued that the Ethereum Foundation has limited direct economic alignment. He wrote that EF now holds less than 0.1% of all ETH.
He added that no Ethereum staking or fee revenue currently flows to the foundation. That point has fueled debate about how EF should fund long-term ecosystem support.
Community frustration has grown in recent years as several well-known contributors left the foundation. Those departures have raised fresh questions about leadership and strategy.
Former Ethereum Developers Leave as ETH Price Stays in Focus
Feist left the Ethereum Foundation last year and joined the alternative Layer 1 network Tempo. Before departing, he served as a strategic adviser on areas including Layer 1 scaling and user experience.
He is widely known for co-creating the Danksharding design used to improve Layer 2 scalability. He also backed proposals such as EIP-9698, which sought a 100-fold gas limit increase.
Former Ethereum researcher Danny Ryan also moved on from EF. He later co-founded Etherealize, which promotes Ethereum to institutions through marketing and product efforts.
This week, Ethereum Foundation researchers Carl Beek and Julian Ma also resigned. Their exits added to existing concern over turnover inside the organization.
Feist’s proposal quickly drew attention because of his role in Ethereum’s technical roadmap. Many community members had viewed him as a key contributor to the network’s progress.
Ethereum co-founder Vitalik Buterin praised Feist’s work after his earlier exit. “Dankrad has been an excellent researcher,” Buterin said, adding that his contributions were “immensely valuable.”
Market data cited in the discussion showed Ethereum with a value above $250 billion. ETH was trading at $2,148.56, according to The Block Price Page.
The latest update is that Feist’s proposal remains a public call on X, while recent Ethereum Foundation resignations continue to shape the debate.
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