U.Today - Justin Sun, a crypto billionaire and the founder of the Tron blockchain platform, has published a tweet to offer crucial advice to Ethereum co-founder Buterin as he published a paper describing Ethereum Layer-1 and Layer-2 scaling as he sees it happening this year.
This coincides with Sun’s ideas about how to drive the ETH price to $10,000 that he posted on his X social media account earlier this week.
Sun’s advice to Vitalik Buterin
While today, Vitalik suggested putting an explicit focus on the ETC economics, making sure that “ETH continues to accrue value even in an L2-heavy world,” Justin Sun tweeting, offering his take on the situation. Instead of Vitalik’s idea, Sun proposed that they should “Just focus on value of ETH.”Earlier this week, the Tron creator published a long read post sharing what actions he would undertake if he were in charge of the Ethereum blockchain and Ethereum Foundation.
Justin Sun’s plan to drive ETH to $10,000
Two days ago, the Tron founder showed the public his plan on how to push Ethereum price to $10,000 per singe coin. He proposed five “decisive actions” – a “first week plan” which would ensue that ETH hits $4,500 after the first seven days of his leadership.Sun believes it is vitally important to stop Ethereum Foundation from further ETH sales for at least three years and optimize revenue by covering the operational costs through AAVE lending, staking yields, and stablecoin borrowing. Thus, Sun would ensure that the Ethereum supply remains intact and is not spread further around the market. It would also reinforce market confidence in ETH.
The second important step that Sun believes needs to be taken in imposing heavy taxes on all layer-2 projects in order to ensure that Ethereum could generate at least $5 billion in taxes per year (either in tokens or stablecoins). Using all the proceeds, the Ethereum team would start buying back ETH coins from the market and then burn them mercilessly in a decentralized manner.
The next step taken by Sun, would be drastically reducing the Ethereum Foundation stuff, leaving the most capable ones and stimulating the others with “significant salary increases.” Thus, he would turn the ETH foundation into a “purely merit-based system that rewards performance and results.”