Marc Zeller, one of the well-known names in the crypto world, made harsh statements about the Ethereum team. The Aave Chan founder suggested radical changes to the team in order to find solutions to Ethereum's current problems. Here are the details of this important development...
Aave Chan Founder Criticizes Ethereum Team
Aave Chan Initiative (ACI) founder Marc Zeller made a statement to the Ethereum team this weekend. Zeller specifically criticized the Ethereum Foundation’s governance and operational processes. Zeller proposed five key reforms to secure the future of the Ethereum ecosystem and ensure more effective foundation governance.
Zeller’s initial proposal calls for a significant simplification of the Ethereum Foundation’s current staff structure. Specifically, he advocated for the removal of 80% of non-developer staff and the current leadership team. He believes this step will help the foundation become more efficient and financially sustainable.
Marc Zeller is proposing that the Ethereum Foundation stop selling its Ethereum (ETH) holdings. Instead, he recommended converting these assets into liquid staking tokens (LST). This way, the Ethereum Foundation can invest its assets through lending platforms instead of selling ETH, reducing operational expenses and strengthening the ecosystem.
Zeller also suggested that the foundation’s current subsidy programs be significantly reduced. He criticized projects such as “running a node in Vorkuta” as examples of initiatives that were deemed to be particularly low-benefit and cost-ineffective. Zeller, who wanted the Ethereum Foundation to use its social media accounts more effectively in order to increase social media engagement, suggested that these accounts be managed by popular Ethereum community members. He noted that these people would promote the Ethereum ecosystem with regular and effective posts.
Marc Zeller’s suggestions have caused a huge stir in the crypto world, and it is interesting to see how the Ethereum Foundation will react to these criticisms. It is also a matter of great curiosity whether the changes Zeller has suggested will be implemented.