{"id":239596,"date":"2024-02-01T16:24:53","date_gmt":"2024-02-01T10:54:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=239596"},"modified":"2024-02-01T16:24:53","modified_gmt":"2024-02-01T10:54:53","slug":"ethereum-projects-urged-to-donate-1-of-token-supply-to-support-development-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-projects-urged-to-donate-1-of-token-supply-to-support-development-crypto-news\/","title":{"rendered":"Ethereum Projects Urged To Donate 1% Of Token Supply To Support Development – Crypto News"},"content":{"rendered":"
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Protocol Guild, a collective of core Ethereum contributors, is calling on ecosystem projects with native tokens to donate a share of their tokens\u2019 supply to support Ethereum development.<\/p>\n

On Jan. 30, Tim Beiko, protocol support for the Ethereum Foundation,\u00a0outlined<\/a>\u00a0the \u201cProtocol Guild Pledge\u201d via tweet and blog post. Beiko called on projects operating within the Ethereum ecosystem to donate 1% of their native tokens\u2019 supply to the guild to support ongoing research and development toward Ethereum\u2019s Layer 1 mainnet.<\/p>\n

The post argues that Ethereum\u2019s core contributors are in high demand and could likely generate greater monetary earnings working elsewhere within web3. It warns that without funding commitments from the broader Ethereum ecosystem, the network could become maintained by a small group of underpaid contributors.<\/p>\n

\u201cRelying exclusively on passion, or status, as a long-term strategy to attract and retain core contributors puts Ethereum at risk of ending up in a\u2026 situation where only a small set of (relatively) underpaid maintainers are responsible for infrastructure securing billions in value,\u201d Beiko said. \u201cWith a commitment from Ethereum ecosystem projects to donate 1% of their native tokens to Protocol Guild, I believe we can align incentives between L1 R&D work and the rest of the crypto ecosystem.\u201d<\/p>\n

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Protocol Guild<\/h2>\n

Protocol Guild spans around 150 members from roughly 25 teams contributing to the core Ethereum protocol including researchers, devops engineers, and client implementers.<\/p>\n

The guild is currently preparing for its v2 restructuring, which aims to increase funding to contributors, introduce an on-chain membership registry, and adopt Moloch v3\u2019s DAO architecture for on-chain governance.<\/p>\n

Funding challenges<\/h2>\n

The guild hopes to attract contributions from both large and small projects alike to avoid a small pool of well-capitalized entities capturing control over the Ethereum ecosystem by committing funding to developers. The guild will exclusively receive contributions on-chain to ensure funding transparency.<\/p>\n

\u201cWe want to prevent scenarios where a deep-pocketed actor can single-handedly exert influence over a large portion of maintainers,\u201d the post said. \u201cDonors should never expect anything beyond the continued support and development of the Ethereum protocol as a result of their contribution\u2026 Protocol Guild is not a way to shift core contributors\u2019 focus to a specific initiative.\u201d<\/p>\n

Protocol Guild has already received funding commitments from prominent entities within the Ethereum space.<\/p>\n

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