The Ethereum Community Foundation (ECF) was announced during the Ethereum Community Conference in Cannes, France, and has already raised millions to support its initiatives.

Launched by Ethereum developer Zack Cole, the ECF aims to fund projects that promote Ethereum (ETH) burning mechanisms without issuing new tokens.

A key objective of the foundation is to enhance ETH's economic integrity by reducing the circulating supply and strengthening the network's monetary policy.

The ECF plans to prioritize funding for public goods that address technical challenges within the Ethereum ecosystem, including issues related to data availability layers.

One of the ECF's initial initiatives, the Ethereum Validator Association (EVA), seeks to empower validators by enabling them to signal development preferences with their staked ETH and improve validator infrastructure.

By focusing on projects that reinforce ETH's economic integrity, the ECF aims to create an alternative funding avenue within the ecosystem that complements the Ethereum Foundation's existing priorities.

Funding decisions will involve coin voting, allowing the Ethereum community to participate in grant allocation processes, with a commitment to transparency regarding treasury movements and project milestones.

The launch of the ECF coincides with significant reorganization efforts within the Ethereum Foundation, and it seeks to engage with governments and policymakers to establish Ethereum as a trusted institutional infrastructure.

In addition to supporting validators, the ECF will fund projects that integrate traditional financial assets like stocks, bonds, and real estate onto the Ethereum blockchain to boost institutional adoption.