Konstantin Lomashuk Addresses Ethereum Foundation’s “Second Foundation”

Konstantin Lomashuk, co-founder of the liquid staking protocol Lido, addressed speculation regarding the Ethereum Foundation’s rumored “Second Foundation.”

Lomashuk’s statement follows his engagement with the Second Foundation’s first and only post, leading some to believe he was behind the new organization’s launch. Many speculated the Second Foundation could be linked to the “big shifts” promised by Ethereum creator Vitalik Buterin for the Ethereum Foundation, a non-profit overseeing the network, in response to community backlash.

“No actual second foundation has been created yet,” Lomashuk wrote in a Wednesday post on social media platform X.

He continued, “Ethereum is the ultimate world computer, and every Etherean can help it grow, evolve and succeed. If a second foundation ever does form, it must have a clear purpose that complements the enormous work of current contributors. I appreciate everyone’s support and believe we need more organizations contributing to Ethereum.”

On January 18, Buterin indicated that “large changes” would occur within the Ethereum Foundation’s leadership structure, communication, and support for the developer community, following criticism about its lack of participation in the Ethereum ecosystem, as previously reported by The Block.

Several news organizations noted that Lomashuk, who previously proposed the idea of a research-focused auxiliary organization funded by the community, was associated with the supposedly new organization.

Lido is among the largest Ethereum liquid staking protocols by value locked, accumulating $31.89 billion as of January 22.