Singapore, October 2, 2025 — During the globally anticipated Token2049 Summit, HashKey Group Chairman and CEO Dr. Xiao Feng and Ethereum co-founder Vitalik Buterin jointly launched the Ethereum Applications Guild (EAG) initiative. The initiative aims to bring together developers, researchers, teams and institutions in the Ethereum ecosystem to jointly build an open, transparent and sustainable collaboration mechanism, accelerate the development and implementation of native applications, and promote the Ethereum ecosystem from an "infrastructure-led" to an "application-driven" stage. Starting point: Exploration of Shanhaiwu, the prototype of EAG This initiative builds on the three-year residency experience of "Shanhaiwu." As a native collaborative space launched and supported by Dr. Xiao Feng in 2023, Shanhaiwu has previously established locations in Beida Lake, China; Chiang Mai, Thailand; and Singapore, bringing together global developers to collaborate on AI, cryptography, public blockchain ecosystems, and public goods. Through three years of experience and accumulation at Shanhaiwu, participants have come to a profound understanding: the Ethereum ecosystem isn't lacking in technology or imagination; what's truly lacking is a sustainable, structured co-construction mechanism. Public goods and community support funds remain limited, and large-scale, real-world applications remain elusive. The EAG concept, grounded in Shanhaiwu's exploration, accumulation, and problem-solving, aims to fundamentally address the ecosystem's structural needs in application deployment, public goods support, and cross-sector collaboration. Vision: Build a collaborative mechanism to accelerate the implementation of real-world applications EAG is not a traditional foundation or accelerator, but rather an open initiative exploring the construction of a global collaborative network for Ethereum-native applications. Using Shanhaiwu as its primary application incubation site, it encourages developers to build, validate, and advance solutions to real-world problems. This initiative, rather than an organizational entity, proposes a mechanism to establish a new generation of collaborative paradigms for Ethereum ecosystem builders. Appeal: From East to West, call on global builders of the Ethereum ecosystem to build together At the initiative launch site, Dr. Xiao Feng said: The launch of the EAG initiative symbolizes the critical moment when the Ethereum application layer "breaks out of its shell"; the establishment of such an alliance is to unite the forces of all parties to welcome the arrival of the "1995 moment" of Ethereum and even the blockchain world - a new era of application explosion. HashKey will continue to invest in building the Ethereum ecosystem as always, and welcomes more native applications to grow and develop on HashKey Chain L2 to jointly enrich the application layer of Ethereum. Ethereum co-founder Vitalik Buterin was in attendance and co-launched the initiative. In a speech at Shanhaiwu Singapore the previous day, Vitalik expressed his hope that more long-term community builders like Shanhaiwu, especially at the application layer, would choose Ethereum as their foundational infrastructure and work together to drive the ecosystem towards practical implementation. An invitation to the global Ethereum ecosystem Currently, the EAG initiative is in the early consensus stage. The alliance sincerely invites ETH treasury companies, technology companies, Layer2 teams, developer communities, protocol organizations and research institutions from around the world to join, aggregate multiple stakeholders, and jointly build a new paradigm for Ethereum applications driven by bottom-up, real collaboration, and push the Ethereum ecosystem from the infrastructure era into the golden stage of real influence. Invitation to join: contact@shanhaiwoo.com Singapore, October 2, 2025 — During the globally anticipated Token2049 Summit, HashKey Group Chairman and CEO Dr. Xiao Feng and Ethereum co-founder Vitalik Buterin jointly launched the Ethereum Applications Guild (EAG) initiative. The initiative aims to bring together developers, researchers, teams and institutions in the Ethereum ecosystem to jointly build an open, transparent and sustainable collaboration mechanism, accelerate the development and implementation of native applications, and promote the Ethereum ecosystem from an "infrastructure-led" to an "application-driven" stage. Starting point: Exploration of Shanhaiwu, the prototype of EAG This initiative builds on the three-year residency experience of "Shanhaiwu." As a native collaborative space launched and supported by Dr. Xiao Feng in 2023, Shanhaiwu has previously established locations in Beida Lake, China; Chiang Mai, Thailand; and Singapore, bringing together global developers to collaborate on AI, cryptography, public blockchain ecosystems, and public goods. Through three years of experience and accumulation at Shanhaiwu, participants have come to a profound understanding: the Ethereum ecosystem isn't lacking in technology or imagination; what's truly lacking is a sustainable, structured co-construction mechanism. Public goods and community support funds remain limited, and large-scale, real-world applications remain elusive. The EAG concept, grounded in Shanhaiwu's exploration, accumulation, and problem-solving, aims to fundamentally address the ecosystem's structural needs in application deployment, public goods support, and cross-sector collaboration. Vision: Build a collaborative mechanism to accelerate the implementation of real-world applications EAG is not a traditional foundation or accelerator, but rather an open initiative exploring the construction of a global collaborative network for Ethereum-native applications. Using Shanhaiwu as its primary application incubation site, it encourages developers to build, validate, and advance solutions to real-world problems. This initiative, rather than an organizational entity, proposes a mechanism to establish a new generation of collaborative paradigms for Ethereum ecosystem builders. Appeal: From East to West, call on global builders of the Ethereum ecosystem to build together At the initiative launch site, Dr. Xiao Feng said: The launch of the EAG initiative symbolizes the critical moment when the Ethereum application layer "breaks out of its shell"; the establishment of such an alliance is to unite the forces of all parties to welcome the arrival of the "1995 moment" of Ethereum and even the blockchain world - a new era of application explosion. HashKey will continue to invest in building the Ethereum ecosystem as always, and welcomes more native applications to grow and develop on HashKey Chain L2 to jointly enrich the application layer of Ethereum. Ethereum co-founder Vitalik Buterin was in attendance and co-launched the initiative. In a speech at Shanhaiwu Singapore the previous day, Vitalik expressed his hope that more long-term community builders like Shanhaiwu, especially at the application layer, would choose Ethereum as their foundational infrastructure and work together to drive the ecosystem towards practical implementation. An invitation to the global Ethereum ecosystem Currently, the EAG initiative is in the early consensus stage. The alliance sincerely invites ETH treasury companies, technology companies, Layer2 teams, developer communities, protocol organizations and research institutions from around the world to join, aggregate multiple stakeholders, and jointly build a new paradigm for Ethereum applications driven by bottom-up, real collaboration, and push the Ethereum ecosystem from the infrastructure era into the golden stage of real influence. Invitation to join: contact@shanhaiwoo.com