{"id":20550,"date":"2025-01-22T16:08:09","date_gmt":"2025-01-22T14:08:09","guid":{"rendered":"https:\/\/forklog.com\/en\/justin-sun-proposes-reforms-for-ethereum-foundation-to-boost-eth-to-10000\/"},"modified":"2025-01-22T16:08:09","modified_gmt":"2025-01-22T14:08:09","slug":"justin-sun-proposes-reforms-for-ethereum-foundation-to-boost-eth-to-10000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/justin-sun-proposes-reforms-for-ethereum-foundation-to-boost-eth-to-10000\/","title":{"rendered":"Justin Sun Proposes Reforms for Ethereum Foundation to Boost ETH to $10,000"},"content":{"rendered":"<p>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.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">If EF and Ethereum Were Under My Leadership<\/p>\n<p>\u201c<a href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&#038;ref_src=twsrc%5Etfw\">#ETH<\/a> to $10,000\u201d<\/p>\n<p>My First Week Plan<\/p>\n<p>1. Halt ETH Sales immediately and Optimize Revenue<\/p>\n<p>EF will immediately cease selling ETH for at least three years. Operational costs will be covered through AAVE lending, staking yields, and\u2026<\/p>\n<p>\u2014 H.E. Justin Sun ? (@justinsuntron) <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1881999625990836229?ref_src=twsrc%5Etfw\">January 22, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The entrepreneur claimed his strategy would drive ETH&#8217;s price to $10,000, proposing the following steps:<\/p>\n<ul class=\"wp-block-list\">\n<li>halt ETH sales for at least three years and optimize revenue. Sun suggested covering operational costs through lending, staking, and stablecoin loans;<\/li>\n<li>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;<\/li>\n<li>reduce EF staff, retaining only the &#8220;most capable&#8221; employees and increasing their salaries;<\/li>\n<li>adjust rewards and focus on burning mechanisms to maintain Ethereum&#8217;s deflationary model.<\/li>\n<\/ul>\n<p>He also proposed redirecting all resources towards developing the core Ethereum network, emphasizing scalability, security, and widespread adoption.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWith these decisive actions, ETH can surpass $4,500 within the first week, laying the foundation for long-term success,\u201d Sun asserts.<\/p>\n<\/blockquote>\n<p>Many users reacted skeptically to the entrepreneur&#8217;s statement. Some noted that he did not bother to draft the post himself, having entirely copied it from an AI assistant&#8217;s output.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Bro is not even trying to hide it <a href=\"https:\/\/t.co\/bpy47V4hgJ\">pic.twitter.com\/bpy47V4hgJ<\/a><\/p>\n<p>\u2014 nav (@supernav_) <a href=\"https:\/\/twitter.com\/supernav_\/status\/1882010023838274042?ref_src=twsrc%5Etfw\">January 22, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Others took Sun&#8217;s proposals with irony, pointing out issues with his own projects.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">I don&#8217;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<\/p>\n<p>\u2014 The Cranked Degen (@CrankedDegen) <a href=\"https:\/\/twitter.com\/CrankedDegen\/status\/1882005207133139443?ref_src=twsrc%5Etfw\">January 22, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI don&#8217;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,\u201d stated one user.<\/p>\n<\/blockquote>\n<p>However, some commentators responded substantively to Sun&#8217;s proposals, including investor and author of The Business Blockchain, William Mougayar.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Interesting ideas. <br \/>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) <br \/>2. Could be a variation of. Anything that forces\u2026<\/p>\n<p>\u2014 William Mougayar (@wmougayar) <a href=\"https:\/\/twitter.com\/wmougayar\/status\/1882009422089642007?ref_src=twsrc%5Etfw\">January 22, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In his view, selling 10% of 0.24% of the ETH supply is unlikely to be problematic \u2014 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.<\/p>\n<p>Another user, Ori, <a href=\"https:\/\/x.com\/OrientusPrime\/status\/1882037111207194888\">pointed out<\/a> 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.<\/p>\n<p>Sun published his reform plan following Vitalik Buterin&#8217;s announcement of &#8220;significant&#8221; changes in the Ethereum Foundation&#8217;s leadership.<\/p>\n<p>The Ethereum co-founder stated that the organization would not position itself as the &#8220;main character&#8221; in the ecosystem and would refrain from political lobbying to maintain neutrality.<\/p>\n<p>In January, EF opened a multisig wallet on the Safe platform to participate in the DeFi ecosystem.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 \u201c#ETH to $10,000\u201d My First Week Plan 1. Halt ETH Sales immediately and Optimize Revenue EF will immediately cease selling ETH for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1302,1138],"class_list":["post-20550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-justin-sun","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=20550"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20550\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/20549"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=20550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=20550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=20550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}