Justin Sun recently shared a proposal for managing the Ethereum Foundation (EF) and network, claiming his plan could push ETH to $10,000. Additionally, the EF is restructuring its leadership to improve execution, developer support, and decentralized technology adoption, while maintaining neutrality. A Bold Strategy The TRON founder outlined a strategy involving a three-year halt on ETH sales by the EF, with operational costs covered through DeFi activities like staking and lending ETH. Sun also suggests implementing taxes on Layer 2 projects to generate $5 billion annually for ETH buybacks and burns. The taxes would therefore help reduce redundant staff while raising salaries for remaining employees and improving overall efficiency. He also proposes reducing node rewards and enhancing fee-burning mechanisms to maintain deflationary pressure on ETH. Lofty Ambitions Essentially, Justin wants to scale Ethereum while simultaneously improving security and boosting overall adoption. With him at the helm, Sun predicts he can help ETH surpass $4,500 within a week and reach $10,000 eventually. Meanwhile, the EF has faced criticism for selling ETH to fund operations rather than using staking or DeFi strategies. In response, Vitalik Buterin cited past regulatory concerns but stated that the EF is now exploring DeFi options. The EF plans to allocate 50,000 ETH to a multi-sig wallet for DeFi activities, with a test transaction already completed on Aave.
