"$ETH Returning to $10,000" is no longer just a slogan.

Faced with sluggish coin prices and foundation controversies, former Ethereum core developer Zak Cole launched the Ethereum Community Foundation (ECF) at EthCC 8, promising to

"Say what the EF doesn't say and do what the EF doesn't do,"

with the mission of revitalizing $ETH's belief and defending its asset attributes.

Zak Cole has a diverse background, having served in the U.S. military, worked in network engineering, and later devoted himself to blockchain, founding the testing platform Whiteblock, the smart contract auditing platform Code4rena, and participating in multiple Web3 projects.

He bluntly stated that the $ETH price has been neglected for too long, and the foundation is too idealistic, lacking strategy and transparency.

The ECF claims to have a clear goal: to increase the value of ETH. In the initial stage, it has raised millions of dollars worth of $ETH and only funds "tokenless and immutable" infrastructure projects, emphasizing economic sustainability and credible neutrality. The first batch of grants includes the Ethereum Validator Association (EVA), which aims to empower stakers and influence protocol development and monetary policy.

The ECF proposes a principle of "radical transparency": the direction of grants will be decided by community "coin voting," and project progress and finances will be publicly disclosed. It is also actively promoting cooperation with governments and regulatory agencies in an attempt to expand the institutional adoption base of ETH.

Although the outside world has doubts about the tokenless incentive mechanism, the establishment of the ECF itself is a signal: when the EF is criticized for being "out of touch," there is still a force willing to step forward and inject a new sense of direction and purpose into ETH.

As for whether $ETH can really return to $10,000, the answer may depend on whether it can awaken the renewed cohesion of developers and the community.