The Ethereum Classic community has introduced the Olympia Upgrade, aimed at implementing a decentralized protocol funding and governance system on-chain, announced in June/July 2025.
This upgrade signifies a pivotal shift for Ethereum Classic, emphasizing decentralized control over protocol funding, potentially influencing the ETC market value and its stance in the crypto ecosystem.
Ethereum Classic Implements On-Chain Treasury Model
The Ethereum Classic community spearheads the Olympia Upgrade, focusing on decentralizing protocol funding and governance. This initiative was announced via the Ethereum Classic Foundation’s blog, and it integrates on-chain treasury management through a proposed DAO.
Chris Mercer, a developer for Ethereum Classic, highlighted the platform’s historical reliance on decentralized narratives. The Olympia Upgrade aims to address sustainable funding by diverting the BASEFEE from transactions to a newly designed public treasury.
“Ethereum Classic has long struggled with decentralized funding for core development, infrastructure, and ecosystem growth. Historically, funding decisions have relied on off-chain donations, central entities, or ad hoc coordination — models that are not sustainable, transparent, or permissionless. The Olympia Upgrade solves this by…empowering ETC holders to govern disbursements through on-chain voting…”
ETC Prices Respond to Olympia Upgrade Announcement
The financial markets reacted with measured optimism, observing ETC prices between $17.10 and $17.43 during the announcement. Market participants are keen on seeing how on-chain funding will affect ETC’s adoption and future valuation.
Potential outcomes include increased confidence in the ETC ecosystem among investors and developers. The non-inflationary funding model is expected to stabilize ETC’s growth, similar to funding mechanisms in other chains like Polkadot.
Olympia Reflects on 2016 DAO Fork Principles
The DAO Fork in 2016 marked a foundational moment for ETC’s identity, focusing on immutability and decentralization. The current upgrade echoes successful treasury models seen in Polkadot and Kusama, albeit with a non-inflationary twist.
Experts from Kanalcoin point to past ETC resilience amid market changes, suggesting potential ecosystem revitalization if the Olympia Upgrade is effectively enacted and adopted by ETC holders and developers.
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