Ethereum Devs Back ‘Tokenless’ Projects with Burn-Centric Funding to Preserve ETH Scarcity - Crypto News Flash

• Ethereum is getting a boost from a new group called the Ethereum Community Foundation, launched by developer Zak Cole, who shared the news on X.
• The foundation has raised millions in ETH, which it plans to use to fund projects focused on building unbiased technology for Ethereum.

Ethereum core developer Zak Cole is spearheading a new effort to strengthen both the economic and technical foundations of the Ethereum (ETH) network. The initiative, called the Ethereum Community Foundation (ECF), is focused on boosting Ethereum’s long-term value while supporting a healthy, decentralized ecosystem.

Many other crypto projects that launch their own tokens, Zak explained on X that the ECF is taking a different approach: working within Ethereum’s existing framework without adding more tokens to the mix. He said, “No VCs. No equity. No tokens. Our upside is burning ETH and sending it to $10k.”‘

ECG was formally introduced at the Ethereum Community Conference (EthCC) held in Cannes, France, one of the largest annual gatherings of developers, researchers, and Ethereum enthusiasts.

Founded by Cole and a group of committed Ethereum ecosystem supporters, the ECF has already raised millions of dollars in funding. These funds are earmarked for a targeted set of initiatives that are aligned with Ethereum’s broader monetary vision.

A Deflationary Plan for ETH

The project stated on its website,

All supported integrations must contribute to ETH burn. This aligns institutional throughput with ETH holder value. By prioritizing mechanisms that reduce ETH supply, we ensure that adoption strengthens the monetary integrity of the network.

Specifically, the foundation will prioritize projects that will enforce code immutability, ensuring that once deployed, contracts and protocols cannot be arbitrarily changed. Projects that implement mechanisms to burn ETH and reinforce Ethereum’s deflationary model introduced in EIP-1559 will be a priority.

In addition to its core mission, the ECF will place a strong focus on funding public goods projects that benefit the entire Ethereum ecosystem without necessarily generating profit. A key area of interest includes tackling technical challenges that are currently limiting network efficiency and scalability.

One such challenge involves correcting mispriced blob space, which plays a role in Ethereum’s data availability layers.

To ensure that funding decisions reflect the values and priorities of the broader community, the ECF will use a coin voting mechanism. This will allow anyone with staked ETH to have a say in how grants are allocated, empowering stakeholders and encouraging community-driven decision-making.

All funding decisions, treasury movements, and project milestones will be made fully public, allowing anyone to track where resources are going and how they’re being used.

Beyond technical grants and infrastructure improvements, the ECF also has a broader mandate: to engage with governments, regulators, and policymakers. By actively participating in these conversations, the foundation hopes to position Ethereum as a reliable, institutional-grade infrastructure layer.

Our latest analysis suggests that Ethereum may be gearing up for a breakout above the $2,500 level, a move that could open the door for further gains toward around $2,746, which aligns with a key Fibonacci level, or even the psychologically significant $3,000 mark. At the moment, ETH is trading at $2,446.

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