Proposed Changes by Aave Chan Founder for Ethereum Foundation

Addressing Issues in the Ethereum Foundation: Insights from Marc Zeller

In a recent discussion reported by Odaily, Marc Zeller, founder of the Aave Chan Initiative (ACI), has put forward bold proposals to revamp the operations of the Ethereum Foundation. His recommendations aim to streamline processes and enhance the efficiency of the development community within Ethereum.

Key Recommendations for Structural Changes

Zeller's suggestions focus primarily on significant reductions in non-development staff and a reevaluation of current leadership. Here are the primary points he raised:

• Immediate Dismissal of Non-Developer Staff: Zeller advocated for the reduction of the foundation's workforce, recommending the dismissal of 80% of non-developer positions. This drastic measure aims to refocus resources on development efforts.
• Leadership Overhaul: Alongside staff reductions, Zeller called for changes in the current leadership to better align with the goals of the Ethereum blockchain's development community.
• Conversion of ETH Holdings: He proposed converting the foundation's remaining ETH into a market-tested LST (Liquid Staking Tokens) portfolio to maximize utility and reduce unnecessary risks.

Financial Recommendations

In addition to structural changes, Zeller offered financial insights that could help the Ethereum Foundation manage its resources more effectively:

• Reduction of Current Subsidies: A stunning 95% cut in current subsidies was suggested, particularly for initiatives that might be less vital, such as running nodes in Vorkuta.
• Utilization of LST: Zeller advised against selling ETH. Instead, he recommended using LST to lend stablecoins through platforms like Sky or Aave. This approach would help reduce operational costs while maintaining assets in a more liquid form.

Involvement of Prominent Community Members

To further enhance community engagement and promote the Ethereum ecosystem, Zeller proposed appointing active community members to manage social media outreach:

• Transfer of X Account: He recommended handing over the management of the X account to community figures like @JimmyRagosa, @ethereumintern_, and @antiprosynth, known for their prolific promotional efforts, averaging over 20 posts daily about Ethereum.

Conclusion

Marc Zeller's proposals are part of a broader conversation about the future of the Ethereum Foundation and the Ethereum ecosystem as a whole. By focusing on efficiency, promoting capable community members, and optimizing financial strategies, Zeller believes the foundation can better serve the growing needs of the Ethereum network.