EIP
Eaton Vance Pennsylvania Municipal Bond Fund
stock NYSEAMERICAN

I'd support by default an EIP that grings down issuance. But why not do it properly and set issuance=burn ?
If it also reduces staking rewards to zero as staking % approaches 100 then great.
I have no idea why ppl think this will put off home stakers. i see instifutions being more likely to unstake first as rewards drop.
The current system of issuing rewards and calling it yield while inflation increases at a higher rate is ridiculous. It's the same problem as fiat - you get a couple off percent in a savings account whilst the currency debases at about 10%.
We should be better than fiat, not copying the same BS.

You're quoting what jerome says, somedayitsdark is pointing to what the EIP implies

>This is fair
I don't know tbh. It reads a bit like fearmongering and trying to instill some kind of urgency in order to pursuade the community, rather than having a sober discussion about it. We've had this conversation countless times, but it never gets past the stage of "how do we ensure this doesn't lead to further staking centralization?". Until we can answer this question, what's the point of trying to push this EIP through? Are we going to abandon solo staking?

That's not what Jerome is saying at least:
> Nobody needs to protect solo stakers from this EIP. 🛡️ They need protecting from the current curve: ever-rising dilution, tax on nominal yield, and no off-switch pushing yields down anyway. ⚠️ The taper caps the dilution, keeps 100% of EL income with the proposer, and never puts a correct attester in the red. ✅

Allow me to use this incredibly horrible EIP as an excuse to advertise ;)
It's never a bad time to lock in attractive fixed rates on ETH. But perhaps now more than ever, its not a bad time. 7.5 months @ over 4%, depending on size.
https://alchemix.fi/fixed-yield

I read the EIP and the tiny bit of discussion surrounding it. Where are the arguments for how this proposal will in fact strengthen the security of the network and not drive out solo stakers and lead to more staking centralization?

Alright I’m caught up on the EIP. My thoughts:
1) it would be the end of me caring about ETH if it passed
2) it’s so stupid it won’t pass so I’m moving on from it

Personally I'm a fan of this long-term issuance curve. It's always felt to me like people holding ETH free-and-clear, as was Satoshi's original intention for BTC, are being punished compared to people who put their faith in the Rocket Pool or Lido contracts - or their time/expertise into solo staking.
Imagine for the sake of argument that staking yield goes down to 0.25% due to this EIP. Do solo stakers really lose much by splitting their 2.5% yield into 0.25% explicit yield and 2.25% yield implicit to issuance reduction? It's already the case that nobody bothers solo staking unless they're feeling a bit altruistic. Nobody wants to admit it, but when the alternative to solo staking is buying what's effectively a cheap managed VPS with some preinstalled software, that makes solo staking more of an altruistic hobby than a job.
Honestly, I'd say the biggest issue with solo staking today is the lack of liquidity due to the unpredictability of the exit queue. If that can be fixed somehow - if e.g. people could get some protocol guarantee that their ETH wouldn't ever take more than 30 days to unstake as long as they behave - then I think we'd see more people moving into solo staking than the new issuance curve would ever push out.
Now while I do like the idea of this proposal, I take issues with its timing. The timing could not be worse to implement this any time soon, imo. We're right on the verge of a massive new change in crypto market structure imho. From 2009-2015 was the nerds, 2016-2021 was the degens, 2022-2025 was the stragglers (including the SEC/ETFs and the president). In 2026-202X we've got to trudge through the trough of disillusionment. After that, we might get the plateau of productivity where things could get a bit more optimistic again - and that's when issuance should be changed.
https://en.wikipedia.org/wiki/Gartner_hype_cycle
The downsides of waiting 3-4 more years to change the issuance are minimal. All Ethereum stakeholders are already entrenched as much as they will ever be. I'm glad we're talking about this proposal right now, but 2030 is when it should actually be implemented.
Barring that, at least let ETH find a price floor first! Our 1-yr local low was just 6 days ago, and we're still in the tumbler.
Someone on ETH Magicians thought that this might be proposed for inclusion in Hegota before the deadline in 48 hours, and if that's the case, then it's an emphatic NO from me. Six months of public comment, then potential inclusion in I*, seems like an accelerated but fair timeline for a proposal of this magnitude.

The EIP argues that solo stakers will be forced out under the current system. However, the proposed changes seem to result in roughly the same scenario, so it seems disingenuous to make this argument.
Also raises concern over custodial holders. I mean, how is this EIP going to change that? "Normie" holders of ETH, whether it's directly staked, an LST or vanilla, prob have it in an ETF either way. Or store it on CB etc.
Also I didn't see anything about how current staking behavior is driven by market conditions / sentiment, DeFi opportunity, ETH price, and so on ... and how this may (obv will) change over time. Things could be very different in 12 months time.

Sure. We are all taking deep breaths. And stating our stance, which is what actually leads to the EIP not passing.

You need to take a deep breath everyone, the EIP won't pass.

Justin Drake just submitted an EIP to reduce issuance. Staking yield would even go straight to 0 at 50%+ staked.
I can’t get behind this at all. It completely ignored the potential second order effects of reducing viability for home staking and ETH borrowing in DeFi. Just look at the comments on this post about it. Many from lo my time ETH bulls with significant net worths in the asset https://x.com/jdetychey/status/2084638778677751889
This is incredibly contentious and short sighted imo, and a horrible use of time for ETH research. Sorry, if this is coming across emotional, but it’s actually upsetting to me.

I can't believe I'm saying this but if the EIP for issuance curve changes, I'm going to be forced to sell all my ETH, and I'm going to be sad.

An EIP to change Ethereum's issuance has been submitted
https://x.com/jdetychey/status/2084638778677751889
https://github.com/ethereum/EIPs/pull/12081
https://ethereum-magicians.org/t/eip-xxxx-tapered-issuance-burn/29263

**TWENTY TWENTY TWENTY-FOUR HOURS TO GO! I WANNA BE SEDATED!!!\***
# [VOTE NOW!!](https://ethereum-magicians.org/t/mascot-needed-for-glamsterdam-upgrade/26008)
https://i.redd.it/rqrlon4rw9gh1.gif
24 Hours left to [vote in the Glamsterdam Mascot Tiebreaker](https://ethereum-magicians.org/t/mascot-needed-for-glamsterdam-upgrade/26008)!! Ends at 12pm, Melbourne, Australia time on the 31st!
It's 🐻‍❄️ vs. 🦩 and we're down to the wire, with Polar Bear currently in the lead by 5 votes!! If you've been waiting for the last moment to cast your vote, this is it!!
And remember, according to the [EIP](https://eips.ethereum.org/EIPS/eip-8066), "The mascot **SHOULD** relate thematically to the network upgrade’s headliner(s)."
# Flamingo 🦩
...are really *glam*orous and stand out with their pink, over the top feathers and long legs. Plus on the technical side:
* Flamingoes are known for their **very long and parallel legs, much like how BALs will improve parallelization.**
* Flamingoes are **filter feeders** which use a filter-like structure in their beak separate their prey (brine shrimp and cyanobacteria among other creatures) from the water, **a bit like proposer-builder separation.**
Also, the collective noun for a group of flamingoes is a flamboyance… What's more *glam*orous than a flamboyance of flamingoes?
# Polar Bear 🐻‍❄️
The Core Dev Protocol Contributors focused on Glamsterdam went to Soldøgn Interop, and polar bears may have been present, and encounters could have been dangerous.

^(\*if any of you know where to obtain quaaludes, please DM me.)