Ethereum co-founder Vitalik Buterin unveiled significant reorganization strategies for Ethereum Foundation (EF), inciting community discussion
Lido founder Konstantin Lomashuk shared a “Second Foundation” X profile but clarified that no such organization exists as of now
EF is facing backlash over its ETH liquidation choices and rollup-centered agenda
Members of the community voiced their backing for Lomashuk potentially spearheading a new Ethereum-centric outfits
Lido presently holds 28% of staked ETH, establishing itself as Ethereum’s primary validator
Ethereum co-founder Vitalik Buterin recently detailed plans for considerable transformations within the Ethereum Foundation (EF). In a January 21 post, Buterin stressed that Ethereum’s future is decentralized and that the EF represents merely one fraction of the larger ecosystem.
The reorganization announcement emerged amidst criticism regarding the foundation’s recent choice to liquidate ETH for operational costs. Community members contended that alternative measures, like staking or minimizing transactions, could have served as more effective tactics for managing expenses.
Buterin responded to requests for leadership shifts, including calls for Executive Director Aya Miyaguchi’s resignation. He dismissed these requests while recognizing the necessity for some personnel modifications, retaining his influence in EF leadership decisions.
The situation took an unforeseen twist when Lido founder Konstantin Lomashuk shared an X profile named “Second Foundation.” This occurrence ignited instant speculation about establishing an alternative organization to foster Ethereum’s development.
However, Lomashuk swiftly clarified that no such entity has been formed yet. “No real second foundation has been created yet,” he tweeted on X. “Ethereum is the ultimate world computer, and every Etherean can contribute to its growth, evolution and success.”
👀 https://t.co/o1pgQ8J3mC
— Konstantin Lomashuk cyber/acc (@Lomashuk) January 22, 2025
Despite the lack of a formal organization, numerous notable community figures conveyed support for Lomashuk’s potential guidance of a new Ethereum-focussed entity. Gabriel Shapiro, founder of MetaLeX Labs, hailed Lomashuk as “one of the highest-integrity founders/investors in the field.”
José Maria Macedo, co-creator of Delphi Labs, endorsed Lomashuk’s talents, saying, “If Vitalik is the prophet, Konstantin is the prince. A strategic mind/visionary who possesses profound understanding of crypto and executes tenaciously.”
The dialogue surrounding a possible second foundation underscores prevailing worries about centralization within the Ethereum ecosystem. Lido, Lomashuk’s liquid staking protocol, currently manages roughly 28% of Ethereum’s staked ETH, rendering it the network’s largest validator.
Matthew Sigel, head of digital assets research at VanEck, affirmed the notion of diversifying leadership, asserting that there’s no compelling reason for EF to be the sole entity in charge of navigating Ethereum’s future.
The foundation has encountered escalating pressure throughout the past year to articulate a more explicit vision for Ethereum’s future, especially as competing networks such as Solana progress. Critics have particularly targeted the EF’s “rollup-centric” roadmap, which gives precedence to layer-2 networks for swifter and more affordable transactions.
Stani Kulechov, founder of Avara Labs, advocated for a “better, faster, stronger EF trajectory with a narrow focus,” suggesting reduced attention on internal politics and neutrality in favor of swift technological progress.
Buterin has also tackled social media pressure initiatives orchestrated by various community figures, voicing concerns regarding their influence on Ethereum’s culture and capacity to retain talent.
In December, Lomashuk previously deliberated the notion of a “Second Foundation” on X, characterizing it as a way to foster competition among various groups and provide options for the community.
Martin Köppelmann, a renowned Ethereum developer closely associated with Lomashuk, confirmed that the “Second Foundation” concept is legitimate, stating that Lomashuk is “definitely seriously contemplating it” with the aim of enhancing Ethereum’s scalability.
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