Tron founder Justin Sun has outlined a series of reforms he would implement at the Ethereum Foundation (EF) if he were to lead the organization.
If EF and Ethereum Were Under My Leadership
“#ETH to $10,000”
My First Week Plan
1. Halt ETH Sales immediately and Optimize Revenue
EF will immediately cease selling ETH for at least three years. Operational costs will be covered through AAVE lending, staking yields, and…
— H.E. Justin Sun ? (@justinsuntron) January 22, 2025
The entrepreneur claimed his strategy would drive ETH’s price to $10,000, proposing the following steps:
- halt ETH sales for at least three years and optimize revenue. Sun suggested covering operational costs through lending, staking, and stablecoin loans;
- impose significant taxes on L2 networks to ensure the Ethereum network earns at least $5 billion annually. The funds would be used to buy ETH for burning through a decentralized mechanism;
- reduce EF staff, retaining only the “most capable” employees and increasing their salaries;
- adjust rewards and focus on burning mechanisms to maintain Ethereum’s deflationary model.
He also proposed redirecting all resources towards developing the core Ethereum network, emphasizing scalability, security, and widespread adoption.
“With these decisive actions, ETH can surpass $4,500 within the first week, laying the foundation for long-term success,” Sun asserts.
Many users reacted skeptically to the entrepreneur’s statement. Some noted that he did not bother to draft the post himself, having entirely copied it from an AI assistant’s output.
Bro is not even trying to hide it pic.twitter.com/bpy47V4hgJ
— nav (@supernav_) January 22, 2025
Others took Sun’s proposals with irony, pointing out issues with his own projects.
I don’t know of anyone using Tron for anything other than USDT transfers. Even that has significantly reduced as people switch to faster and cheaper Solana
— The Cranked Degen (@CrankedDegen) January 22, 2025
“I don’t know anyone who uses Tron for anything other than USDT transfers. Even that audience has decreased as people switch to faster and cheaper options like Solana,” stated one user.
However, some commentators responded substantively to Sun’s proposals, including investor and author of The Business Blockchain, William Mougayar.
Interesting ideas.
1. Why would selling ~10% of .24% of the eth supply be an issue? That volume is nothing compared to daily or weekly trade volumes. That said, I like extending their runway beyond 10 years (at current prices)
2. Could be a variation of. Anything that forces…— William Mougayar (@wmougayar) January 22, 2025
In his view, selling 10% of 0.24% of the ETH supply is unlikely to be problematic — the amount is negligible compared to daily and weekly trading volumes. Mougayar supported the idea of taxing second-layer solutions. He also noted that besides increasing fees, there are other ways to maintain a deflationary model.
Another user, Ori, pointed out that stablecoin loans imply leverage, which could lead to liquidation and bankruptcy for EF. Additionally, he agreed on the need to raise salaries for core developers and highlighted the insufficient motivation for staking in Ethereum.
Sun published his reform plan following Vitalik Buterin’s announcement of “significant” changes in the Ethereum Foundation’s leadership.
The Ethereum co-founder stated that the organization would not position itself as the “main character” in the ecosystem and would refrain from political lobbying to maintain neutrality.
In January, EF opened a multisig wallet on the Safe platform to participate in the DeFi ecosystem.