EthStaker 🦇🔊

The 2026 Ethereum Staking Survey is now open! Any type of staker or even non-stakers are called to respond here: ethstaker.org/forms/staking-… Thank you for helping us collect a current snapshot of the staking landscape and community sentiment. These surveys help show where advocacy efforts are needed or whether existing efforts are making an impact.

Actually I want Ethereum to be alive and relevant for the next 50 years and that's why I'm willing to day on the issuance reduction hill. tl;dr: "If we cut @ethereum staking issuance, we will likely kill LSTs." Nop🙅‍♂️ "Without LSTs, DeFi will shrink to the size of a penny. Without DeFi, @ethereum will lose its main value proposition." Nop🙅‍♂️ "Without its value proposition, @ethereum will die." Nop🙅‍♂️ See the chart below, this is DeFi before LST. DeFi is Ethereum’s most proven PMF and will undoubtedly remain widely used with or without LST. Nevertheless, whichever staking reduction direction Ethereum will be taking, I stand deeply convinced that LST will forever remain part of the picture. I do anticipate that the amount of ETH at stake will be lower post reduction than what it is today, but I don’t anticipate LST to be the one losing in “market share”. Furthermore I don’t anticipate the TVL of LST (and by extension the revenue of the corresponding protocols) to be necessarily reduced post issuance recalibration. Scarcity effect has been a core driver of price appreciation for crypto-assets and macroeconomics strongly support money neutrality (ceteris paribus, the value of the asset adjusts upward to a lower emission level). Ethereum and ETH both have a much wider value proposition than staking. Let me state it differently, not reducing the issuance is slowing down Ethereum’s adoption, eventually killing DeFi and more importantly causing a massive threat to Ethereum. For ETH, the issue of our current issuance regime is that we are deliberately eroding the marketability and moneyness of our beloved native asset. The current regime is stifling DeFi competitiveness, it’s not possible to compete with the staking yield for any risk equivalent product. Remember that AAVE in a normal market condition serves 1.5% on ETH, does that reflect the risk of AAVE vs the risk of Staking? Say we have 60% of ETH at Stake, the staking yield will be ~2%, say we have 100%, the yield will be 1.6%. This is not going to change any time soon, the amount ETH at stake are trending upward and will snowball as holders try to avoid dilution. Back in Dec 2020 we had no idea when, if and how we would be able to unstake so we chose a reward curve accordingly. This old decision is now forcing the hand of holders to go at stake, the yield is disconnect to the risk premium which will keep trending lower. ETH slowly dies as the pristine collateral it should always remain, liquidity on CEX and DEX dry up and so does the demand for the asset. In the meantime, LST and DeFi will try (and are already trying) to accommodate with this unhealthy trend through rehypothecation, restaking and multichainess. This is importing unforeseen risks into the system as we very recently experienced. We owe this change in issuance to all the ETH holders, to all the Ethereum users and developpers for it is necessary for the security and credibility of the network. Ethereum’s PoS was designed for an amount of ETH at stake of 20 to 30%. The paramount characteristic of credible neutrality and network security should prevail among any price or subindustry specific consideration. Staking protects Ethereum, but too much staking jeopardizes Ethereum. The credibility of large slashing events is already tumbling. Core devs and protrocol researchers have been warning us about this for years. See: issuance.wtf . Now is the time to act. Why now? The problem is getting harder and harder to tackle as time goes by while Ethereum is gowing through a critical adoption phase, we are: - Relentlessly progressing on missing interoperability features - Scaling the L1 - Catching up on compulsory privacy features for institutions and indiviuals - Sponsoring L2 at the cost of its fees - about to face the competition of a new generation of "ETH killers" We can’t afford to have weak ETH in this phase and by not acting on the issue we are all sandbagging Ethereum. Let’s fix our original staking sin once and for all. By the way, with Quick Slots in Hegota (Slot time <12s, EIP-8198) we will have to tweak the reward curve anyway so let’s kill 2 birds with 1 stone (hello @CarlBeek 👋)

The 2026 Ethereum Staking Survey is now open! Any type of staker or even non-stakers are called to respond here: ethstaker.org/forms/staking-… Thank you for helping us collect a current snapshot of the staking landscape and community sentiment. These surveys help show where advocacy efforts are needed or whether existing efforts are making an impact.

The 2026 Ethereum Staking Survey is now open! Any type of staker or even non-stakers are called to respond here: ethstaker.org/forms/staking-… Thank you for helping us collect a current snapshot of the staking landscape and community sentiment. These surveys help show where advocacy efforts are needed or whether existing efforts are making an impact.

The 2026 Ethereum Staking Survey is now open! Any type of staker or even non-stakers are called to respond here: ethstaker.org/forms/staking-… Thank you for helping us collect a current snapshot of the staking landscape and community sentiment. These surveys help show where advocacy efforts are needed or whether existing efforts are making an impact.

Today I'm releasing github.com/jshufro/remote… Since @AttestantIO released Vouch and Dirk in 2020, they have respectively become the industry standard multi-beacon validator client and bls threshold signer implementation. Now you can use Dirk with any Validator Client.

And here are the recorded videos of the Staking Stage day for anyone to rewatch / catch up: Leo Bautista Gomez from @miga_labs The first 100 days of Fusaka and the future of PeerDAS youtube.com/watch?v=Tx_rcI… Carlos Perez @CPerezz19 VOPS / Partial Stateless nodes youtube.com/watch?v=VeJarC… Ladislaus von Daniels @ladislaus0x Validating with a zkAttester client youtube.com/watch?v=0-rSco… Terence Tsao @terencechain ePBS: What EthStakers Need to Know youtube.com/watch?v=tLNhhi… Jihoon Song @jih2nn FOCIL: Past, Present and Future youtube.com/watch?v=1trSdm… Yorick Downe @yorickdowne Home staking behind CGNAT, LATAM, Asia-Pacific, and everywhere youtube.com/watch?v=c9FcyJ… Jerome de Tychey @jdetychey Issuance: The Cost of Inaction youtube.com/watch?v=JD9okx… Justin Drake @drakefjustin Staking Strawmap youtube.com/watch?v=yUkFNU… A fun Staking Trivia game from @L_Nakaghini and myself youtube.com/watch?v=PvpUaZ… Luca Winter from @SerenitaIO When Clients Disagree: Picking a Side Safely youtube.com/watch?v=a6cyi3… Marius van der Wijden @vdWijden L1/L2 Scaling Roadmap youtube.com/watch?v=froMJV… Dima Gusakov @d_gusakov 0x02 for home stakers and Lido CSM youtube.com/watch?v=O_DSSB… Shane Moore @Block_Shane of Sigma Prime - SSV: Ethereum Lite? youtube.com/watch?v=WW4QqM… Ken Smith @nextblock_eth The State of Staking in 2026 youtube.com/watch?v=1LcKym…