Lido Founder Konstantin Lomashuk Proposes a “Second Foundation” to Strengthen the Ethereum Ecosystem

The move follows ongoing discussions about Ethereum’s governance structure and concerns over centralization risks.

Ethereum ecosystem governance has been a hot topic of discussion lately, and now Lido founder Konstantin Lomashuk is proposing a “Second Foundation” to bolster the network’s vitality.

Lomashuk introduced the initiative via a new X account, sparking mixed reactions within the Ethereum community.

Some have expressed concerns that the move may align with Lido's broader ambitions within Ethereum's staking ecosystem.

In December, a community member posed a question regarding whether the “second foundation” would support Lido's dominance in staking or oppose Ethereum's potential issuance reduction.

In response, Lomashuk highlighted Lido's role in maintaining Ethereum's decentralization and censorship resistance, emphasizing the planned dual governance launch in Q1 2025 as a safeguard against governance attacks on LDO token holders.

The discussion also touched upon Ethereum's staking model, with Lomashuk advocating for 66% of all ETH to be staked, arguing that this threshold is necessary to prevent validator centralization under large custodians.

When asked about self-imposed limits, he stated that any staking constraints should be applied uniformly at the protocol level rather than targeting specific liquid staking providers.

Lomashuk further pointed out the challenges for outsiders to contribute to the Ethereum Foundation, underscoring the need for alternative research groups.

However, Buterin clarified that decisions regarding EF's leadership are still under his authority until structural reforms establish a formal board.

He expressed concerns about the increasing pressure from social media discussions, stating that it creates a negative environment for Ethereum's developers. Some core contributors, Buterin noted, have privately voiced their frustration with the ongoing governance debates, viewing them as ultimately harmful to Ethereum's progress.

No. This is not how this game works.

The person deciding the new EF leadership team is me. One of the goals of the ongoing reform is to give the EF a "proper board", but until that happens it's me.

If you "keep the pressure on", then you are creating an environment that is…

— vitalik.eth (@VitalikButerin) January 21, 2025

Crucially, Konstantin Lomashuk has clarified that his tweet about a “Second Foundation” was speculative, emphasizing that no such entity exists yet.

He highlighted Ethereum's potential as the “ultimate world computer,” encouraging broader contributions from the community. Lomashuk stated that any future foundation must complement existing efforts and promised to share further insights.

The tweet was just a tweet – no actual second foundation has been created yet. 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… https://t.co/lThO92MKh4

— Konstantin Lomashuk cyber/acc (@Lomashuk) January 22, 2025

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