TRON founder Justin Sun has proposed a hypothetical plan for Ethereum and the Ethereum Foundation (EF) under his leadership. His statements come as EF faces controversy over leadership changes.
In a series of posts on X (formerly Twitter), Ethereum co-founder Vitalik Buterin outlined the goals and progress of the reforms. He emphasized improving technical knowledge, ecosystem interaction, and operational efficiency.
Justin Sun Outlines Leadership Roadmap for Ethereum
The TRON CEO shared bold ideas on how he would lead the Ethereum Foundation if given the opportunity. Sun's vision, shared on X, includes a four-point plan to completely restructure EF's operations, optimize Ethereum's economic model, and push ETH's price to 10,000 USD.
“If EF and Ethereum are under my leadership, ETH will reach 10,000 USD,” Sun declared.
Sun proposed an immediate halt to ETH sales for three years to stabilize supply and bolster market confidence. He suggested covering EF's operating costs through DeFi protocols like Aave, staking yields, and borrowing stablecoins, aligning with Ethereum's deflationary goals.
A key element of his plan is to impose significant taxes on Layer 2 (L2) solutions to generate 5 billion USD annually. The taxes collected would be used to buy back and burn ETH, increasing its scarcity and value.
Sun also called for a significant reduction in EF personnel, retaining only the best performers and proposing substantial salary increases for them. He believes this merit-based approach will streamline operations and improve efficiency.
Ultimately, Sun emphasized adjusting node rewards and increasing fee burns to reinforce Ethereum's deflationary narrative. He proposed focusing all resources on developing Ethereum's core L1, concentrating on scalability, security, and adoption. Justin Sun's plan has sparked mixed reactions, with some praising this bold vision.
“These are all very practical suggestions. Pay attention to them and consult, Vitalik Buterin,” core developer 0xSea.eth recommended.
Meanwhile, others challenge Sun to focus on TRON and explore bringing DeFi into its ecosystem.
“Maybe you should start by making DeFi on TRON great – you should ask your operating team (and yourself), ‘Why does DeFi not exist on TRON even though it has the most stable coins?’ If you answer this, perhaps TRON can beat Ethereum one day,” commented ZIGChain co-founder Abdul Rafay Gadit.
Vitalik Buterin Defends Leadership Amidst Waves of Criticism
Sun's proposed solutions align with Buterin's recent post about the current changes happening over the past year, some of which have already been implemented. Buterin highlighted goals such as enhancing EF's technical leadership and improving collaboration with ecosystem partners. He also addressed concerns, dismissing the idea that EF could adopt a centralized role or carry political motives.
“…these things are not what EF does and this will not change. Those seeking a different vision are welcome to start their own organizations,” Buterin stated.
Aya Miyaguchi, an EF executive, confirmed ongoing efforts, expressing enthusiasm about upcoming announcements. She noted that reforms aim to strengthen Ethereum's position as a global neutral platform while advocating decentralized technologies and privacy protection.
This announcement has stirred controversy within the cryptocurrency community. Opponents argue that the current leadership has failed to manage Ethereum effectively.
“With all due respect, let new blood take over. You can't even make a simple Twitter account work – how can you be trusted to lead the second largest blockchain,” Wazz commented.
Another user, Coinmamba, suggested that pressuring Miyaguchi to resign could help Ethereum reach new heights. Buterin strongly opposed these comments, defending Miyaguchi and criticizing the toxicity of such social media language.
“No. This is not how this game works,” Buterin rebutted. “The one deciding the new EF leadership team is me. If you ‘keep the pressure on,’ then you are creating a negative environment for top talent. YOU ARE MAKING MY JOB HARDER,” the Ethereum co-founder lamented.
Buterin also dismissed specific allegations against Miyaguchi, pointing out translation errors and misunderstandings of her statements. He reaffirmed the necessity of a “proper council” within EF to improve governance.
ETH price performance. Source: TinTucBitcoin
Ethereum's ETH token is trading at 3,305 USD at the time of writing, showing a slight increase of 0.2% since the market opened on the fourth trading day.