EthStaker

ethrd

wrote down some thoughts with @ansgar.eth, exploring the status quo of staking economics, its drawbacks as we see them, and what the endgame of staking economics could look like + what we should do in the short term until endgame.

we're at 25% of all ETH staked rn. at current rates, it's not crazy to think that nearly all ETH could eventually be staked. that's overpaying for security and exposing the larger ecosystem to unnecessary risk (if, say, a lot of that was an LST)

so what kind of design could set a staking target?

This @vitalik.eth post from two months ago is highly relevant to the discussion on validator load and ways forward:

stake responsibly // be a kind human // slomad

Chiang Mai, Mueang Chiang Mai District, Chiang Mai, Thailand

This @vitalik.eth post from two months ago is highly relevant to the discussion on validator load and ways forward: https://ethresear.ch/t/sticking-to-8192-signatures-per-slot-post-ssf-how-and-why/17989

PhD in aviation ∩ climate science | Aviator, diver, ETH maxi, nexialist | Host of /diving /ethfinance /eth-staker /geopolitics /science /singapore /thomas

Robust Incentives Group @ Ethereum Foundation

https://rig.ethereum.org

Thank you for your helpful clarifications as always, @barnabe!

On the adjacent topic of max_effective_balance, is it now on the roadmap for an upcoming upgrade, or still in discussion? It feels like such a low-hanging fruit to address the validator count (even if only marginally so).

Agreed but also think it's two separate (though related) problems. One is about the amount of ETH at stake (what @caspar discusses), the other is about the number of "seats" active during an SSF round. We could in theory have 8192 validators only and still 100% of ETH staked if we increased MaxEB enough