Ethereum researcher Justin Drake joins EigenLayer as advisor, receives million-dollar Eigen token.

Ethereum researcher Justin Drake publicly disclosed that he has become an advisor to the Eigen Foundation, with compensation exceeding the value of all his crypto assets.

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Justin Drake Joins EigenLayer as Advisor

According to a tweet by Justin Drake, he revealed that his advisory role will grant him a substantial reward of EIGEN tokens vested over 3 years, currently valued in the millions of dollars, which is likely to exceed the sum of all his crypto assets, primarily in ETH.

However, he plans to reinvest all advisory earnings back into Ethereum ecosystem projects through investments or donations, and he is prepared to terminate his advisory position at any time if EigenLayer moves in a direction he perceives as detrimental to Ethereum's interests.

Justin Drake emphasizes his selectivity with advisory roles, having rejected over 100 offers so far, and not taking the Eigen Foundation's advisory position lightly. Discussions about the advisory role with the foundation began in March last year, spanning over a year.

Focus on Researching Eigen Risks, Not Marketing

Justin Drake's advisory task will solely focus on researching reshaping risks, with his name not to be used for marketing purposes.

He expects to continue publicly leaning towards criticizing EigenLayer and strives to make his criticisms constructive, advocating risk mitigation. He stated:

As a researcher, I feel I've been too late and too little in the field of liquid staking, and this is an opportunity for us to not repeat the same mistakes.

Three Ethereum Foundation Members Involved with EigenLayer

The decision for Justin Drake to become an advisor at EigenLayer may raise questions about whether EigenLayer is attempting to systematically "bribe" the Ethereum Foundation?

Justin Drake points out that the Ethereum Foundation is a large organization with over 300 people, and to his knowledge, 3 Ethereum Foundation members have formal relationships with EigenLayer, one being an early investor in EigenLabs, and the other two recent advisors to the Eigen Foundation.

He does not believe that 1% of Ethereum Foundation members having formal ties with EigenLayer is unethical.

He concludes:

My job is as an Ethereum researcher, not an Ethereum Foundation researcher. I strive to maintain freedom and independent thinking and serve the interests of Ethereum. I acknowledge that accepting the advisory position at Eigen Foundation comes with risks such as negative reputation, but I hope the above clarifies that this was a well-considered decision.