Ethereum Researcher Justin Drake Steps Down from Eigen Foundation, Signals Full Commitment to Layer-1 Development

Ethereum Researcher Justin Drake Resigns from Eigen Foundation Amid Conflict of Interest Debate, Pledges Ethereum Neutrality

In a social media post on November 2, Ethereum Foundation researcher Justin Drake announced his resignation from the Eigen Foundation, which is in charge of directing the development of the Eigenlayer restaking protocol, following a disagreement that broke out in May 2024. Drake disclosed that in September 2024, he departed the Ultra Sound team and the Eigen Foundation advisory role. He apologized to the Ethereum community in public. Drake stated that he wanted to devote his time and energy to creating Ethereum’s layer-1 network, specifically its consensus layer, rather than taking on roles in other projects.

Going forward, I will turn down all advisorships, angel investments, and security councils. This personal policy goes above and beyond the recent Ethereum Foundation-wide conflict of interest policy, not because that was asked of me, but because I want to signal a commitment to neutrality.

Drake

Drake’s Eigen Foundation Advisorship Raises Community Concerns Over Token-Based Compensation

The Ethereum community reacted negatively to Drake’s announcement on May 19, 2024, that he had accepted a paid adviser role with the Eigen Foundation. Drake claims to have gotten millions of dollars in EIGEN tokens in exchange for his advice to the Eigen Foundation. The Ethereum Foundation researcher at the time stated that the tokens were worth “more than the combined value of all my other assets,” and he added that his only responsibility would be to investigate the different technical, protocol, and structural issues related to restaking.

Dankrad Feist, a well-known researcher for the Ethereum Foundation, also started advising EigenLayer after Drake’s announcement, which drew harsh criticism and more charges of conflict of interest. In order to prevent such disputes in the future and to stop the subsequent criticism from the Ethereum community, the Ethereum Foundation drafted a conflict-of-interest policy in response to Drake and Feist’s actions.

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