{"id":20844,"date":"2024-05-20T14:00:00","date_gmt":"2024-05-20T11:00:00","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20844"},"modified":"2024-05-20T10:38:24","modified_gmt":"2024-05-20T07:38:24","slug":"ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/","title":{"rendered":"Ethereum Researcher&#8217;s Adviser Role at EigenLayer Sparks Controversy"},"content":{"rendered":"<p><strong>Justin Drake, a researcher at the Ethereum Foundation,<\/strong> has just revealed that he has accepted a position as an advisor for the <strong>EigenFoundation,<\/strong> the company behind the groundbreaking protocol <a href=\"https:\/\/coinengineer.net\/blog\/eigenlayers-impact-on-ethereum-increasing-utility-and-security\/\">EigenLayer<\/a>. Drake, in a lengthy post on May 19, revealed that he receives an adviser fee worth millions of dollars in EIGEN tokens that are spread over three years. This sum totals more than the value of all his other holdings; this is an observation that has not escaped the cryptocurrency community.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/#Conflict_of_Interest_Allegations\" title=\"Conflict of Interest Allegations\">Conflict of Interest Allegations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/#Support_for_Transparency\" title=\"Support for Transparency\">Support for Transparency<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Conflict_of_Interest_Allegations\"><\/span>Conflict of Interest Allegations<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Debate on social media has complicated with Drake\u2019s announcement stating about possible conflicts of interest connected with this position. Crypto trader and UpOnly podcaster Jordan Fish aka Cobie recently raised Essential Questions for Ethereum Co-Founder Vitalik Buterin About Ethereum Foundation Paying Staff Millions From Projects That Might Compete With Ethereum. EigenLayer was also mentioned as a hypothetical example by Fish.<\/p>\n<p>EigenLayer, which recently completed a partial mainnet release last month, offers services that enable users to stake liquid staked Ether (ETH), providing users an opportunity to stake ETH twice. Drake admitted to the perils of such a role, but he stressed his determination to further systematically analyze restaking risks and guide EigenLayer against them. <strong>\u201dBeing an adviser means that I want to participate in restaking issues directly and influence EigenLayer\u2019s decisions from the inside, without repeating the mistakes of the past concerning liquid staking,\u201d Drake clarified.<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Support_for_Transparency\"><\/span>Support for Transparency<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>However, some industry people have appreciated Drake for his openness. Polygon\u2019s Hudson Jameson, David Wong, co-founder of zkSecurity, Robbie Nakarmi, Crypto Investments Director at Standard Chartered Ventures, and many others praised Drake for his transparency. In his post, Drake attempted to dispel concerns about EigenLayer&#8217;s intentions, stating, &#8220;The EF is a large organization with 300+ people. To my knowledge 3 EFers have a formal relationship with EigenLayer entities: one as an early EigenLabs investor, and two as recent EigenFoundation advisors. \u201c<\/p>\n<p>Drake was sure that he did not imagine the 1% of Ethereum foundation members participating in <strong>EigenLayer<\/strong> sacrificing their morality. He also stated that he is willing to let go of his advisory position if EigenLayer\u2019s progress ever becomes a threat to Ethereum\u2019s development.<\/p>\n<p>In other recent news, <strong>EigenLayer<\/strong>, a decentralized storage project that had received much criticism from its users for implementing a very restrictive token redistribution program, had reacted to this criticism by airdropping 28 million additional <a href=\"https:\/\/coinengineer.net\/blog\/justin-sun-nets-millions-in-surprise-eigen-airdrop\/\">EIGEN<\/a> tokens to its users.<\/p>\n<p>Justin Drake\u2019s recent appointment as a Terra researcher is a case study of how individual and collective goals can and should intersect amid the revolutionary change in the blockchain industry. The future of the industry and the accountability of the most influential characters will always be a concern for the community.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Justin Drake, a researcher at the Ethereum Foundation, has just revealed that he has accepted a position as an advisor for the EigenFoundation, the company behind the groundbreaking protocol EigenLayer. Drake, in a lengthy post on May 19, revealed that he receives an adviser fee worth millions of dollars in EIGEN tokens that are spread<\/p>\n","protected":false},"author":6,"featured_media":20846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[6229,1914,6228],"class_list":["post-20844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","tag-eigenfoundation","tag-ethereum-foundation","tag-justin-drake"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Researcher&#039;s Adviser Role at EigenLayer Sparks Controversy - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Ethereum researcher Justin Drake&#039;s new adviser role at EigenLayer stirs controversy, sparking debates on potential conflicts of interest and industry transparency.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Researcher&#039;s Adviser Role at EigenLayer Sparks Controversy - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Ethereum researcher Justin Drake&#039;s new adviser role at EigenLayer stirs controversy, sparking debates on potential conflicts of interest and industry transparency.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-20T11:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-20T07:38:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/05\/29448449338_da66b79bde_o.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/\",\"name\":\"Ethereum Researcher's Adviser Role at EigenLayer Sparks Controversy - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/05\/29448449338_da66b79bde_o.webp\",\"datePublished\":\"2024-05-20T11:00:00+00:00\",\"dateModified\":\"2024-05-20T07:38:24+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"description\":\"Ethereum researcher Justin Drake's new adviser role at EigenLayer stirs controversy, sparking debates on potential conflicts of interest and industry transparency.\",\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/05\/29448449338_da66b79bde_o.webp\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/05\/29448449338_da66b79bde_o.webp\",\"width\":1024,\"height\":683,\"caption\":\"Justin Drake, ethereum\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ethereum Researcher&#8217;s Adviser Role at EigenLayer Sparks Controversy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ethereum Researcher's Adviser Role at EigenLayer Sparks Controversy - Coin Engineer","description":"Ethereum researcher Justin Drake's new adviser role at EigenLayer stirs controversy, sparking debates on potential conflicts of interest and industry transparency.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/","og_locale":"en_US","og_type":"article","og_title":"Ethereum Researcher's Adviser Role at EigenLayer Sparks Controversy - Coin Engineer","og_description":"Ethereum researcher Justin Drake's new adviser role at EigenLayer stirs controversy, sparking debates on potential conflicts of interest and industry transparency.","og_url":"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/","og_site_name":"Coin Engineer","article_published_time":"2024-05-20T11:00:00+00:00","article_modified_time":"2024-05-20T07:38:24+00:00","og_image":[{"width":1024,"height":683,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/05\/29448449338_da66b79bde_o.webp","type":"image\/webp"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/","url":"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/","name":"Ethereum Researcher's Adviser Role at EigenLayer Sparks Controversy - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/05\/29448449338_da66b79bde_o.webp","datePublished":"2024-05-20T11:00:00+00:00","dateModified":"2024-05-20T07:38:24+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"description":"Ethereum researcher Justin Drake's new adviser role at EigenLayer stirs controversy, sparking debates on potential conflicts of interest and industry transparency.","breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/05\/29448449338_da66b79bde_o.webp","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/05\/29448449338_da66b79bde_o.webp","width":1024,"height":683,"caption":"Justin Drake, ethereum"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Ethereum Researcher&#8217;s Adviser Role at EigenLayer Sparks Controversy"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/20844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=20844"}],"version-history":[{"count":2,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/20844\/revisions"}],"predecessor-version":[{"id":20847,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/20844\/revisions\/20847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/20846"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=20844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=20844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=20844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}