Tron founder Justin Sun has proposed a radical overhaul of the Ethereum Foundation (EF) aimed at driving the price of Ether (ETH) to $10,000. The controversial plan, revealed in a series of X posts, has sparked intense debate within the crypto community.
Key Points of the Proposal:
- Pause on ETH Sales: Sun suggests halting Ethereum sales by the EF for three years, funding operations through DeFi activities like lending, staking, and stablecoin issuance on platforms such as Aave.
- Layer 2 Taxation: A proposed tax on Layer 2 projects could generate $5 billion annually for ETH buybacks, reducing the token supply and boosting its deflationary potential.
- Foundation Overhaul: Sun advocates for a significant staff reduction at the EF, coupled with merit-based salary increases for remaining employees, to streamline operations.
- Deflationary Enhancements: Adjustments to fee-burning mechanisms and node rewards are part of the plan to strengthen Ethereum as a deflationary asset.
Ethereum Foundation’s Response
While the EF has not officially addressed Sun’s proposals, it has faced criticism for selling ETH to fund operations. In 2024, the foundation sold 4,666 ETH ($13 million), raising concerns about its alignment with Ethereum’s ecosystem goals.
Ethereum co-founder Vitalik Buterin recently announced restructuring efforts within the EF to improve efficiency and support for decentralized application developers.
Sun’s proposals, though unofficial, have reignited discussions about Ethereum’s potential and the steps needed to achieve long-term growth and value.
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