Trent Van Epps, a former Ethereum Foundation (EF) member, argues that Ethereum must rapidly establish new funding institutions as the EF intentionally reduces its central role. Van Epps left the EF after it became clear the organization would accelerate its 'subtraction' philosophy, pushing authority into the broader ecosystem. He estimates core protocol development requires roughly $30 million annually, while the EF's treasury gradually declines. The Protocol Guild has distributed nearly $40 million to developers but is insufficient alone. Van Epps remains bullish on Ethereum, citing leadership in DeFi, stablecoins, and EVM adoption. He identifies the 'free rider' problem as a key obstacle, where firms benefit from shared infrastructure without contributing. He expects governance to become more distributed over the next decade, with new organizations focusing on research, commercialization, and ecosystem growth. Success should be measured by broad adoption, with billions of users accessing Ethereum and Layer 2.

Key facts

• Former EF member Trent Van Epps says Ethereum must build new funding institutions as EF steps back.
• Core development needs ~$30M/year; EF treasury is declining.
• Protocol Guild distributed $40M but cannot replace broader ecosystem funding.
• Van Epps remains bullish, citing Ethereum's lead in DeFi, stablecoins, and EVM.
• Free rider problem and need for clearer ETH narrative are key challenges.

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