The Ethereum Foundation, in response to growing community concerns, is accelerating the implementation of a formal policy to manage potential conflicts of interest. This initiative follows the revelation that two of its researchers received substantial incentives in EigenLayer tokens. Executive Director Aya Miyaguchi stressed the importance of this policy in maintaining the foundation's credible neutrality.
The Need for Transparency
The Ethereum Foundation has always emphasized neutrality and transparency to maintain the community's trust. However, recent incidents have shown that internal culture and personal judgment are no longer enough to prevent conflicts of interest.
Important Revelations
On May 19, Ethereum Foundation researcher Justin Drake revealed that he had received a significant incentive in EigenLayer tokens after becoming an advisor to the Eigen Foundation. This revelation triggered discussions about the compatibility of the roles of foundation developers and researchers with their external commitments.
Justin Drake received incentives in Eigen tokens, potentially worth several million dollars, for an advisory role focused on researching restaking risks. Dankrad Feist, another foundation researcher, also took on an advisory role at EigenLayer under similar conditions, but without a commitment to reinvest the funds.
Reactions and Measurements
Aya Miyaguchi acknowledged the community's concerns on X (formerly Twitter), saying that the foundation was already working on a formal policy to address these issues and that an update would be shared soon. Lefteris Karapetsas, former Ethereum software engineer and founder of Rotki, suggested that the foundation should better compensate its employees to avoid them seeking additional compensation packages elsewhere.
Towards a Conflicts of Interest Policy
Policy objectives
The new policy will aim to establish clear guidelines for all foundation members regarding external commitments and additional compensation. The aim is to maintain the credible neutrality essential to the Foundation's role in the Ethereum ecosystem. In light of recent events, the Foundation is accelerating the development and implementation of this policy.
Implications for the ecosystem
This policy could have significant repercussions. It aims to strengthen trust in the foundation and its members, clarify roles to avoid potential conflicts of interest, and encourage transparency throughout the Ethereum ecosystem.
Community reactions
The often vocal Ethereum community has reacted in a variety of ways. Many members appreciate the Foundation's efforts to provide greater clarity, while others feel that adequate compensation is essential to avoid such situations.
Conclusion
The Ethereum Foundation is at a crucial turning point where the implementation of a conflict of interest policy could strengthen its position as a transparent and reliable leader in the blockchain world. The actions taken by the Foundation in the coming weeks will be decisive for the future of its credibility and neutrality.
