Lido founder Konstantin Lomashuk recently sparked discussions with his X profile post titled “Second Foundation,” which raised questions about the effectiveness of the Ethereum Foundation’s (EF) efforts within the ecosystem. Despite initial speculation, Lomashuk clarified that no such entity has been established and promised to share his thoughts on the EF case in the near future.
This development comes on the heels of Ethereum co-founder Vitalik Buterin’s assertion that the future of the blockchain lies in decentralization, with EF representing just one facet of this decentralized landscape. Buterin emphasized the need for EF to focus on areas where it can be most effective while creating space for other organizations to contribute to different aspects of Ethereum, potentially in a for-profit capacity.
In response to calls for changes within the EF, particularly demands for Executive Director Aya Miyaguchi’s resignation following the foundation’s sale of ETH to cover ecosystem expenses, Buterin defended the foundation’s decisions. He dismissed suggestions such as staking and transaction reduction as more effective alternatives and criticized social media pressure campaigns from figures like CoinMamba, Tetranode, and Evan Van Ness, citing their negative impact on Ethereum’s culture and talent retention.
While acknowledging the necessity for personnel changes within the EF, Buterin did not indicate immediate shifts and reiterated his authority in making decisions regarding EF leadership roles.
The community has expressed support for diversification within the Ethereum ecosystem, with figures like Matthew Sigel of VanEck advocating for multiple entities to contribute to Ethereum’s development. DeFi Maestro, a proponent of Mantle, suggested that the concept of a “Second Foundation” could raise the stakes for EF and potentially lead to another hard fork event, akin to the creation of Ethereum Classic.
Although not the founder of the speculated Second Foundation, Lomashuk received endorsements from his peers to lead an Ethereum-focused entity. MetaLeX Labs founder Gabriel Shapiro praised Lomashuk as a high-integrity founder and investor in the space, suggesting that his involvement in driving Ethereum’s development would be highly beneficial for the ecosystem.
José Maria Macedo of Delphi Labs also commended Lomashuk, referring to him as a strategic thinker and visionary with a deep understanding of crypto. Stani Kulechov, founder of Avara Labs, called for a more focused and efficient path for EF, emphasizing the need to prioritize technological advancements over internal politics.
In conclusion, the discussions surrounding the potential establishment of a “Second Foundation” and the calls for diversification within the Ethereum ecosystem highlight the evolving nature of the blockchain space and the importance of adaptability and collaboration in driving innovation forward.