Ethereum core developer Zak Cole has launched the Ethereum Neighborhood Foundation (ECF), a brand modern initiative geared in direction of funding “tokenless” projects and promoting ETH burning mechanisms to toughen the digital asset’s economic fee and institutional adoption.

Cole launched the initiative on the Ethereum Neighborhood Conference in Cannes, France, while taking plot on the Ethereum Foundation for its lack of lobbying efforts in Washington DC.

The ECF will handiest fund projects that are immutable and accomplish no longer space modern tokens, enforcing a strict tokenless policy to manufacture obvious security, decentralization, and alignment with Ethereum’s core values.

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All supported projects must combine mechanisms that contribute to the burning of ETH, instantly cutting again the circulating provide and supporting ETH’s monetary integrity and price for holders.

“The Ethereum Foundation obtained’t whisper it. So we did,” stated Cole.

“ETH to $10k is a requirement. No longer a meme.”