A $1 Billion Fix for Ethereum? Dev Proposes a Radical New Organization to Save ETH

Simon Dedic, Founder and Managing Partner at Moonrock Capital and an early Ethereum supporter, stated that he could not ignore the departure of individuals such as Tim Beiko, Josh Stark, Barnabé Monnot, Trent Van Epps, and Carl Beek, calling the situation “a red flag.”

“The infrastructure circle jerk and the idealistic cypherpunk phase of selling delusional dreams in was great and fun, but it‘s over,” he concluded, and criticized Ethereum’s lack of business focus.

Laura Shin, host of the Unchained podcast, also stated that Ethereums failure to consider ETH tokenomics with updates that hurt the “ultrasound money” narrative.

“When the main offering becomes ideology/communism and money/tokenomics/capitalism are overlooked, the peasants are going to revolt — as theyve been doing for two years now,” she assessed.

She criticized the Ethereum ecosystems “rest on its laurels” attitude, as the crypto ecosystem is currently experiencing a fierce battle for adoption and market share.

Dankrad Feist, an Ethereum developer and collaborator, floated a proposal to save Ethereum by creating an alternate organization economically aligned with Ethereum. This organization would have an initial funding of at least $1 billion, with a competent leader and a board to make it accountable for its actions.

This new structure would also be self-funded through staking rewards and a governance network that can adjust the funding level. “Very hard to imagine now, but I think this is the only way (and it will probably happen, but it might take a long time before it is consensus),” he declared.