The post Ethereum Researcher Justin Drake Has Joined EigenLayer appeared on BitcoinEthereumNews.com.

Ethereum Foundation researcher Justin Drake revealed that he became an advisor to the EigenFoundation, an independent non-profit focused on the restaking protocol EigenLayer. In an extensive May 19 post on social media platform X, Drake revealed the extent of the relationship with the project and how he plans to operate. EigenLayer Gets New Advisor The Ethereum researcher explained that he took the job because 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 extensive consultation period that exceeded a year, he accepted the new role at EigenLayer. His new role would entail focusing on restaking risks, and his default public stance would be critical of EigenLayer. However, he promised to make his criticism constructive and advocate for mitigating risks like the erosion of solo validators and the intersubjective overloading of Ethereum consensus. Drake also dismissed concerns that EigenLayer might be systematically bribing or corrupting the Ethereum Foundation (EF). He noted that the EF is a large organization with over 300 people, making it unlikely for EigenLayer to influence. “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. Read more: Ethereum Restaking: What Is It And How Does It Work? Meanwhile, his new role offers significant incentives that could run into “millions of dollars of tokens vesting over 3 years.” However, he plans to reinvest these proceeds within the Ethereum ecosystem. Also, Drake emphasized that his commitment to the EigenLayer advisory role is rooted in its alignment with Ethereum’s interests. Any misalignment,…

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Filed under: News - @ May 19, 2024 4:04 pm