Ethereum Basis researcher Justin Drake revealed that he turned an advisor to the EigenFoundation, an unbiased non-profit targeted on the restaking protocol EigenLayer.
In an intensive Might 19 publish on social media platform X, Drake revealed the extent of the connection with the challenge and the way he plans to function.
EigenLayer Will get New Advisor
The Ethereum researcher defined that he took the job as a result of he felt he “did too little too late with regard to liquid staking,” and this was “an opportunity to not repeat the mistake with restaking.” So, after an intensive session interval that exceeded a yr, he accepted the brand new position at EigenLayer.
His new position would entail specializing in restaking dangers, and his default public stance can be essential of EigenLayer. Nevertheless, he promised to make his criticism constructive and advocate for mitigating dangers just like the erosion of solo validators and the intersubjective overloading of Ethereum consensus.
Drake additionally dismissed issues that EigenLayer is likely to be systematically bribing or corrupting the Ethereum Basis (EF). He famous that the EF is a big group with over 300 individuals, making it unlikely for EigenLayer to affect.
“To my knowledge, three EFers have a formal relationship with EigenLayer entities: one as an early EigenLabs investor and two as recent EigenFoundation advisors. EFers are among the highest integrity people I know, and I don’t see the 1% of EFers formally involved with EigenLayer compromising their morals,” he added.
Learn extra: Ethereum Restaking: What Is It And How Does It Work?
In the meantime, his new position affords vital incentives that might run into “millions of dollars of tokens vesting over 3 years.” Nevertheless, he plans to reinvest these proceeds inside the Ethereum ecosystem.
Additionally, Drake emphasised that his dedication to the EigenLayer advisory position is rooted in its alignment with Ethereum’s pursuits. Any misalignment, he asserted, would end result within the termination of the appointment.
“I pledge to reinject all advisorship proceeds towards worthy projects within the Ethereum ecosystem, either as investments or donations. I also stand ready to end the advisorship at any time, e.g. should EigenLayer go in a direction I deem to be against Ethereum’s interests,” Drake said.
EigenLayer is a platform that allows customers to re-stake their Ethereum to safe third-party networks. DeFiLlama knowledge reveals EigenLayer now has over $15 billion value of whole worth locked (TVL) within the platform since its launch.
Learn extra: What Is EigenLayer?
Regardless of its success, EigenLayer faces robust competitors from rivals like Symbiotic, reportedly backed by the co-founders of the Ethereum liquid staking platform Lido.
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