Tron’s Justin Sun calls for Ethereum to tax layer-2s, start staking to get price to $10k

Justin Sun, the laminitis of the Tron network, has unveiled an ambitious strategy to alteration Ethereum’s ecosystem and propulsion its terms to $10,000.

In a Jan. 22 post connected X, Sun elaborate however changes successful proviso management, operational strategy, and fiscal policies could reshape the trajectory of the second-largest integer plus by marketplace capitalization.

Sun’s proposal

Sun’s superior connection involves halting the Ethereum Foundation’s regular ETH sales for astatine slightest 3 years. Instead of relying connected plus liquidation for operational funding, helium suggested leveraging income sources similar staking yields, decentralized lending platforms, and stablecoin-backed loans.

Sun said this attack would enactment deflationary conditions and summation capitalist confidence.

Another cardinal facet of his program includes imposing important taxes connected layer-2 platforms. Sun estimates this attack could make $5 cardinal annually to money ETH repurchase and burning initiatives.

He wrote:

“All collected taxes volition beryllium utilized to repurchase ETH and pain it successful a afloat decentralized manner, period.”

Operationally, Sun projected streamlining the Ethereum Foundation by reducing its workforce and retaining lone apical talent. He believes this measurement volition heighten ratio and absorption resources connected Ethereum’s halfway Layer 1 development, prioritizing scalability, security, and adoption.

Additionally, Sun plans to revise Ethereum’s rewards system. He projected reducing node rewards and expanding interest burns to guarantee the web remains deflationary portion reinforcing semipermanent value.

Sun expressed assurance that these changes could thrust Ethereum’s terms to $4,500 successful the abbreviated word and $10,000 implicit time.

He concluded:

“With these decisive actions, ETH is poised to interruption $4,500 wrong the archetypal week, mounting the instauration for semipermanent success.”

Ethereum Foundation issues

Sun’s proposals look amid heightened scrutiny of Ethereum’s enactment and operations.

The Ethereum Foundation has precocious faced criticism for selling ETH to screen expenses, sparking calls for alternate backing strategies.

Meanwhile, rival blockchain networks similar Solana are gaining traction owed to their quality to pull much developers and caller projects, thereby expanding unit connected Ethereum to innovate.

Internal governance issues person besides go a focal point, with critics calling for changes wrong the Ethereum Foundation. Concerns astir enactment effectiveness person fueled calls for greater transparency and accountability.

The station Tron’s Justin Sun calls for Ethereum to taxation layer-2s, commencement staking to get terms to $10k appeared archetypal connected CryptoSlate.