Dankrad Feist, a former Ethereum Foundation researcher, has called on the community to build a new ETH-aligned organization with at least $1 billion in funding, arguing it is the only credible path to putting Ethereum back on a winning trajectory.
His proposal, posted on X, arrives as at least eight senior EF members departed in 2026, with five leaving in May alone.
A Framework for ETH Alignment
Feist sketched out four requirements for the new body. It needs at least $1 billion in credible funding and a competent leader willing to fight for the protocol’s interests. A board explicitly accountable to ether (ETH) holders and a permanent staking revenue stream would complete the structure.
He put his case directly.
“The community needs to create an organisation that’s economically aligned with Ethereum and accountable to it.”
Feist framed $1 billion as a proportionate starting point, noting the figure is “very reasonable for an ecosystem with $250b market cap,” close to Ethereum’s current market capitalization of roughly $257 billion. A governance mechanism, he added, should allow the staking revenue allocation to be adjusted over time.
Routing staking income into the organization permanently would tie its incentives directly to ETH’s price performance, rather than depending on periodic discretionary grants or asset sales.
The Ethereum Foundation’s Shrinking Footprint
The Ethereum Foundation currently holds less than 0.1% of all ETH and collects no share of staking or transaction fee revenues. Its treasury holds roughly 92,548 ETH, a figure that has fallen as the Foundation sold holdings to cover operating costs.
The EF did launch a staking initiative in February 2026 targeting 70,000 ETH, aiming to generate native yield without reducing its treasury balance. Critics argue the move stops well short of the economic alignment Feist envisions.
Feist joined Tempo, Stripe’s stablecoin blockchain, after leaving the EF. His departure was part of a senior exodus that triggered an EF core team overhaul earlier this year.
ETH currently trades near $2,126, down roughly 57% from its peak above $4,900 last year. Feist acknowledged that building consensus around the proposal may take time but described it as “the only way.”
