Singapore, October 2, 2025— During the globally anticipated Token2049 summit, Dr. Xiao Feng, Chairman and CEO of HashKey Group, co-initiated the "Ethereum Applications Guild" (EAG) initiative alongside 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, accelerating the development and real-world implementation of native applications, and driving the Ethereum ecosystem from an "infrastructure-led" phase to a new "application-driven" stage.

Starting Point: The Exploration of Shanhaiwu, the Prototype of EAG

The launch of this initiative is based on the three years of practical experience at "Shanhaiwu." As a native collaborative space initiated and supported by Dr. Xiao Feng in 2023, Shanhaiwu has been established in Beida Lake, China, Chiang Mai, Thailand, and Singapore, gathering global builders to engage in real-world collaboration around AI, cryptocurrency, public chain ecosystems, and public goods.

Through three years of practice and accumulation at Shanhaiwu, participants have come to a profound realization: the Ethereum ecosystem does not lack technology and imagination; what it truly lacks is a sustainable, 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 at Shanhaiwu, aiming to fundamentally respond to the structural needs of the ecosystem in application implementation, public goods support, and cross-border collaboration.

Vision: Co-building Cooperation Mechanisms to Accelerate Real-World Application Implementation

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

Call to Action: From East to West, Inviting Global Builders of the Ethereum Ecosystem to Co-build

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

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

Vitalik Buterin, co-founder of Ethereum, attended the event and co-initiated this initiative. In his speech at Shanhaiwu·Singapore the previous day, Vitalik expressed: He hopes that in the future, there will be more long-term community builders like Shanhaiwu, especially at the application layer, choosing Ethereum as the foundational infrastructure to jointly promote the ecosystem towards real-world implementation.

An Invitation to 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, genuinely collaborative new paradigm for Ethereum applications, propelling the Ethereum ecosystem from the infrastructure era into a golden phase of real impact.

Join the invitation: contact@shanhaiwoo.com

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