- Tron founder Justin Sun proposes radical changes to the Ethereum Foundation, including halting ETH sales and taxing Layer 2 projects, aiming to drive ETH’s price to $10,000.
- Sun’s plan, while potentially boosting ETH’s price, could also stifle L2 development and raise concerns about centralization, sparking debate within the Ethereum community.
Justin Sun, the founder of Tron, has unveiled an ambitious strategy to propel Ethereum’s price to a staggering $10,000. His plan involves a radical overhaul of Ethereum’s operations, including halting all Ethereum Foundation (EF) ETH sales for three years, imposing significant taxes on Layer 2 projects, and drastically reducing the EF staff.
Sun proposes funding EF operations through alternative revenue streams like decentralized lending, staking yields, and stablecoin borrowing. He also suggests using the funds generated from L2 taxes to buy back and burn ETH, further reducing supply and increasing its value. While these measures could boost ETH’s price, they also carry risks, such as discouraging L2 development and potentially alienating the wider Ethereum community.
Furthermore, Sun advocates for a significant reduction in the EF staff, focusing on a merit-based system with higher rewards for top performers. This move aims to enhance efficiency and reduce operational costs. However, it could also disrupt ongoing projects and hinder development if not executed carefully.
Sun’s vision prioritizes Ethereum’s Layer 1 dominance, focusing on scalability, security, and adoption. This laser focus on the main blockchain contrasts with Ethereum’s current approach, which emphasizes a diverse ecosystem of Layer 2 solutions and decentralized initiatives.
While Sun’s plan could potentially accelerate price growth, it raises concerns about centralization and its potential impact on Ethereum’s decentralized nature. The crypto community is now engaged in a lively debate about the merits and drawbacks of Sun’s ambitious roadmap, questioning whether his bold strategies will ultimately benefit or hinder Ethereum’s long-term success.
