Ethereum Researchers Resign from Eigenlayer Advisory Positions

Two Ethereum researchers, Justin Drake and Dankrad Feist, have announced their resignations as advisors for the restaking platform Eigenlayer to refocus on Ethereum.

In simultaneous posts on X, they expressed their regrets over the controversy caused by their roles. Drake reported he stepped down in September, stating, "I want to apologize to the Ethereum community and EF colleagues for the drama I caused. In hindsight, it was a bad move for me to make."

Concerns about conflict of interest arose after their advisory roles were revealed in May, particularly since EigenLayer is a top DeFi project on Ethereum, with significant token allocations. Drake noted his compensation was substantial, representing "millions of dollars of tokens vesting over 3 years."

Feist also expressed confidence in Eigenlayer while emphasizing his commitment to Ethereum, saying, "Ethereum has a lot of important work to do and I will focus all my attention on getting it done."

In response to the controversy, Ethereum Foundation executive director Aya Miyaguchi promised to develop a formal conflict of interest policy, acknowledging that cultural reliance had been insufficient. Drake's post alluded to a personal policy to decline all advisorships and investments, showing his dedication to neutrality.

Following the news, EigenLayer's token dropped over 10%, while Ethereum's price fell about 1%. The Ethereum Foundation has yet to comment on this situation.