Ethereum Dev’s EigenLayer Role Draws Criticism

Ethereum Dev’s decision to join the ranks of EigenLayer as an adviser following Justin Drake’s footsteps draws criticism.

Scholar of Ethereum Dankrad Feist has recently made public his intention to become an advisor at EigenLayer. Feist stated, in line with colleague Justin Drake, that this action would not be taken on behalf of the Ethereum Foundation but rather with “a focus on risks and decentralization.”

“Together with Justin Drake, I have recently decided to become an advisor to Eigenlayer, on the same conditions — I am taking this position personally […] I am therefore fully expected to take contrarian views on Eigenlayer.”

The community responded to Feist’s announcement with a combination of disapproval and assistance, owing to the possibility of conflicts of interest and the substantial quantity of tokens Feist stands to gain from this role.

Feist clarified that the distribution of tokens will not “alter or affect” his stance regarding the development of the core protocol. Instead, he believes that “someone with impeccable integrity would do an outstanding job of benefiting Ethereum” in the new position.

“I trust the current leaders are intending to do that, and I am planning to hold them accountable for it. I will not hesitate to speak out and/or to quit my position if I believe this is no longer the case.”

Amidst the backlash from the community, one member expressed gratitude for the revelation and speculated that the “angst” Feist and Drake were experiencing might be a result of EigenLayer being “bad.” 

The disappointment was conveyed by the founder of Rotkiapp, Lefteris Karapetsas, regarding “the EF researchers.” He expressed himself candidly in an X post dated May 21.

“This is a clear as day conflict of interest of key decision makers of Ethereum protocol development and should absolutely not be tolerated.”

Karapetsas stated that he was “appalled” by Feist and Drake’s decision and that it is “impossible” for them to refrain from allowing the compensation to influence their judgment, even if they “make a pink promise.”

Drake announced via social media on May 19 that he had accepted a paid adviser position with EigenLayer, for which he would receive “millions of dollars” worth of EIGEN tokens in compensation.

Drake recognized that assuming the role would jeopardize his “personal reputation” and elaborated that he would “direct EigenLayer in an internal direction.”