The Ethereum Foundation is reportedly seeking input from the community and contemplating adjustments to its operations, as indicated by Haseeb Qureshi, a managing partner at Dragonfly.
Following discussions with EF representatives at ETH San Francisco, Qureshi observed a palpable urgency within the organization, noting that the environment has evolved considerably since 2020.
He mentioned that the foundation’s leadership is actively looking at ways to model successful projects like Solana’s Superteam, aiming to transition from a focus on research-centric activities towards promoting project development and investment opportunities.
Qureshi added:
“Ethereum’s leadership has faced significant criticism, and it’s vital for everyone to understand this — they are responding. They are seriously considering how to adapt. It serves as a valuable learning experience for them.”
Furthermore, he noted that the EF leadership is becoming more receptive to outside perspectives, stepping away from a mindset that prioritizes only internally developed ideas.
Community Feedback
Members of the Ethereum community have raised concerns regarding the foundation’s trajectory, especially in light of ETH’s lackluster performance relative to other prominent cryptocurrencies in 2024.
Specifically, ETH’s performance against Bitcoin reached a historic low on Binance on March 13, with 1 ETH valued at 0.02240 BTC.
This disappointing performance comes even as Ethereum boasts positive developments, such as over $3.2 billion in tokenized US Treasuries, representing nearly 70% of the total market as per rwa.xyz data.
Market players have raised questions regarding the foundation’s treasury management, highlighting the effects of ETH sales on market stability.
In response, the Ethereum Foundation has begun restructuring. On February 25, Aya Miyaguchi transitioned from her role as executive director to president. A successor has not yet been named, and co-founder Vitalik Buterin has indicated plans for a revised leadership framework without providing further specifics.
On February 28, the EF revealed the “Silviculture Society,” an informal advisory group composed of outsiders aimed at establishing avenues for community feedback and influencing Ethereum’s direction. The goal is to uphold the foundation’s core principles of open source, privacy, security, and resistance to censorship.
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