Former Go Lead Developer Ethereum Peter Szilagyi published a letter sent to the management Ethereum Foundation a year and a half ago, in which he expressed dissatisfaction with the compensation structure and ecosystem management.
During the first six years of work in Ethereum Siladi’s Foundation earned $625,000 before taxes, while ETH’s market cap grew from zero to $450 billion during this period.
In this regard, he described the Foundation’s compensation system as «an ideal breeding ground for perverse incentives, conflicts of interest, and, ultimately, protocol capture.» In his opinion, low salaries for dedicated employees forces them to seek external sources of compensation.
According to Siladi, there is a so-called «ruling elite» that makes decisions on supporting new projects:
We strive to create a world of equal opportunity, but all the most successful projects are directly supported by the same 5-10 people, behind whom stand the same 1-3 venture capitalists.
This left the developer feeling like a «useful fool» in a no-win situation where the project’s values were at risk.
Community Ethereum In general, it has been a complete mess for quite some time now,” the CEO supported the expressed point of view. Polygon Foundation Sandeep.