ethrd

Introducing issuance.wtf - a collection of resources on  Ethereum's current issuance discussion. 

I will try to keep it ~up-to-date~, but please point out missing resources or DM with questions/comments/requests.

Ethereum

EthStaker

Home stakers & node operators!

We created a survey to start creating better data on what home / solo stakers care about & need, in their own words! It helps researchers kno how to advocate for us (some Qs were contributed by them!)

Pls fill it out if you run validators!

https://stakinglandscape.limesurvey.net/748278

This EIP research post provides the rationale for adjusting Ethereum’s issuance policy to use a reward curve with tempered issuance. It covers relevant trade-offs, reviews security considerations, and discusses the endgame. https://ethresear.ch/t/reward-curve-with-tempered-issuance-eip-research-post/19171

To cite @caspar, when you listening to the ep/read the proposal:

Don't compare it to the current state but compare the long-term equilibria we can arrive at under different curves (and approaches).

I think that it's an important perspective to keep in mind when thinking of this topic.

ETHEREUM STAKING ENDGAME

@hasu & @joncharbonneau brought on @ansgar.eth & @caspar from the EF following their latest research & proposal to change ETH issuance 

2.5 hours going deep on PoS economics, LSTs, restaking, economic security & more

Links below 👇

thanks for having us on and the productive back and forth @hasu @joncharbonneau!

staking economics is a super important topic and hopefully this convo helps to give more context on the intentions of our proposals and how we see things :)

Strategy lead flashbots.net

Advisor LidoDAO and Steakhouse.financial

the targeting post is not a concrete proposal, but has lots of open questions, as discussed in doc. 

especially: what should the target be? what’s secure enough? 1/8, 1/4, 1/2, 2/3? just to name a few pretty ratios lol

the targeting post is an attempt to propose an issuance policy that is future proof and does not need to be touched again.

Ethereum protocol R&D. Admirer of emergent order.

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.

Super nice per-block timing games explorer:

Super nice per-block timing games explorer: https://data.edennetwork.io/block/19163706/bids

https://x.com/dtj5179/status/1754834914258682304?s=46&t=XLF1ZalsBi6EZjXA5_-pcQ

@caspar this was already reposted by @barnabe  so it is classified as spam.

Please avoid spamming the channel in the future and only post genuine content.

yesterday's optimistic relay outage caused some confusion around ePBS. these topics are near and dear to my heart, so i wanted to get this out ASAP to help demystify the situation. 

"Consider the ePBS" 🦞🤖🐮🐛💵
(you only really need to read the tldr)
https://notes.ethereum.org/@mikeneuder/consider-the-epbs

.oO

https://x.com/timbeiko/status/1755597708520501672?s=46&t=XLF1ZalsBi6EZjXA5_-pcQ

A good reason to replug my post with a candidate reward curve in Sec. 5.5 that tempers issuance and thus growth in the quantity of stake, while retaining consensus incentives under equilibrium https://ethresear.ch/t/properties-of-issuance-level-consensus-incentives-and-variability-across-potential-reward-curves/18448

25% of all ETH are staked

src: dune.com/hildobby/eth2-staking

had to update my plots because staking ratio went from 0.24 to 0.25 since I started writing something. Deposits are faster than I can write  lol

I’m very thankful for @mikeneuder.eth’s relentless energy to push ILs forward to get them in electra included

research && software ➝ @ethereum foundation ⟠;
https://twitter.com/mikeneuder

I’m very thankful for @mikeneuder.eth’s relentless energy to push ILs forward to get them in electra included 

https://x.com/mikeneuder/status/1755220985219780646?s=46&t=XLF1ZalsBi6EZjXA5_-pcQ

ETH staking net flow at its highest since last summer

src: dune.com/hildobby/eth2-staking

A new academic grants round was released today! Find a bucket list of ideas in the wishlist, and let your favourite academics know they can apply to work on these problems 🧑‍🏫

https://esp.ethereum.foundation/academic-grants

One of favorites on the wishlist is about modeling rational protocol participation, or rational consensus in short

eigenlayer

Ethereum protocol research @ Robust Incentives Group, Ethereum Foundation

I'm excited to share our latest research on adjusting the block gas limit. 
Together with @vitalik.eth, we're exploring paths to reduce the maximum block size, balance calldata pricing, and ultimately raise the block gas limit.
https://ethresear.ch/t/on-increasing-the-block-gas-limit/18567

views are my own, protocol @ eigen labs; prev working on decentralization @ gitcoin, llama, stanford medicine.

Most restaking yield should be capturable by raw ETH - why is this not supported yet? cc @kydo