Vitalik Buterin and Dr. Xiao Feng jointly initiated the Ethereum Application Alliance (EAG), inviting global Ethereum builders to co-create a new paradigm of collaboration.

Singapore, October 2, 2025 – During the globally renowned Token2049 conference, Dr. Xiao Feng, Chairman and CEO of HashKey Group, co-founded the “Ethereum Applications Guild” (EAG) initiative with Vitalik Buterin, co-founder of Ethereum.

The initiative aims to bring together developers, researchers, teams, and institutions within the Ethereum ecosystem to collaboratively build an open, transparent, and sustainable cooperation mechanism, accelerate the development and real-world implementation of native applications, and promote the Ethereum ecosystem from an “infrastructure-led” phase to a new “application-driven” stage.

Starting point: The exploration of Shanhaiku, the prototype of EAG

The initiation of this initiative is based on the three years of on-site practice at “Shan Hai Wu”. As a native collaborative space initiated and supported by Dr. Xiao Feng in 2023, Shan Hai Wu has been established in Beida Lake, China; Chiang Mai, Thailand; and Singapore, gathering global builders to engage in real collaboration around AI, cryptocurrency, public chain ecology, and public goods.

Through three years of practice and accumulation in Shanhaiwu, the participants deeply realized that the Ethereum ecosystem does not lack technology and imagination; what is truly lacking is a sustainable and structured co-building mechanism—public goods and community support funds remain limited, and large-scale real-world applications have yet to form. The concept of EAG is proposed based on the exploration, accumulation, and problem discovery in Shanhaiwu, aiming to fundamentally respond to the structural needs of the ecosystem in application implementation, public goods support, and cross-border collaboration.

Vision: Build a collaborative mechanism together to accelerate the implementation of real-world applications.

EAG is not a traditional foundation or accelerator, but an open initiative exploring the construction of a global collaborative network aimed at Ethereum native applications. It uses Shanhaiwu as the primary application incubation site, encouraging more developers to build, validate, and promote solutions to real-world problems. This initiative does not propose an organizational entity, but rather a conceptual mechanism, creating a new generation of collaborative paradigm for builders in the Ethereum ecosystem.

Call: From East to West, calling for the global Builders of the Ethereum ecosystem to co-create.

At the launch site of the initiative, Dr. Xiao Feng stated: The initiation of EAG's initiative symbolizes a critical moment for the Ethereum application layer to “break out of its shell”; establishing such an alliance aims to unite various forces to welcome the arrival of Ethereum and even the blockchain world’s “1995 moment”—an era of explosive growth for applications.

HashKey will continue to invest in the construction of the Ethereum ecosystem as always, and welcomes more native applications to develop and thrive on HashKey Chain L2, enriching the application layer of Ethereum together.

Ethereum co-founder Vitalik Buterin attended the event and co-initiated this initiative. During his speech at the Shanhaiwu · Singapore event the previous day, Vitalik expressed his hope that in the future there will be more long-term community builders like Shanhaiwu, especially at the application layer, choosing Ethereum as the underlying infrastructure to jointly promote the ecosystem's advancement into reality.

Inviting the global Ethereum ecosystem

Currently, the EAG initiative is in the early consensus stage, and the alliance sincerely invites ETH treasury companies, technology companies, Layer 2 teams, developer communities, protocol organizations, and research institutions from around the world to join together, aggregating multiple stakeholders to co-build a bottom-up, authentically collaborative new paradigm of Ethereum applications, driving the Ethereum ecosystem from the infrastructure era into a golden stage of real influence.

Join invitation: contact@shanhaiwoo.com