The Ethereum Foundation appears to be shifting its attention towards founder-led growth and capital development in response to mounting criticism from investors and developers.
As criticism continues to rise, Ethereum’s leadership seems to be reassessing its growth strategy, hinting at a transition towards a more founder-oriented and ecosystem-centric model, as observed by Haseeb Qureshi, managing partner at Dragonfly Capital.
In a post on X on March 17, Qureshi expressed that after his meetings with Ethereum Foundation members, he feels “more optimistic about Ethereum.” He observed a “real urgency” among the team, noting that they recognize concerns regarding Ethereum’s recent stagnation and “want Ethereum to be relevant.”
Qureshi further indicated that the foundation is exploring ways to mirror the successful model of Solana’s Superteam—a collective of operators, developers, and grant recipients working on Solana initiatives—within the Ethereum ecosystem, with a focus on “capital formation and founder journeys,” rather than predominately on research.
“Ethereum’s leadership has faced considerable criticism, and it’s vital for you all to understand this — it’s having an impact. They’re listening. They’re deeply contemplating how to evolve. This is a crucial learning opportunity for them.”
Haseeb Qureshi
These remarks come at a time when Ethereum’s trajectory is facing scrutiny, with former Ethereum Foundation engineer Harikrishnan Mulackal voicing his concerns over the network’s governance, lamenting its “lack of a clear and cohesive vision.”
Mulackal pointed out that without stronger leadership, Ethereum risks stagnation, advocating for quicker upgrades and suggesting that the network should aim for “one hard fork each quarter.” He warned that without such measures, Ethereum might end up replicating “exactly the same outcome” as over the last five years.