I voted For Activate v4 Protocol Fees (Part 1/2) *It restores the link between protocol activity and the asset.** This is the property most infrastructure in this space has lost: usage grows and the token does not notice. Uniswap is rebuilding that link rather than deferring it indefinitely. *It is a credible commitment, not a promise.** Routing revenue to a treasury is a policy any future governance can reverse and any well-organised constituency can capture. Burning is irreversible and admits no discretion. Whatever its drawbacks, it is a commitment device: it signals to holders that this protocol will be operated toward profitability rather than as a permanent subsidy, and it removes the option of quietly abandoning that discipline later. *It demonstrates profitability without subsidy.** That matters beyond Uniswap. The prevailing argument for keeping fees near zero across this industry is that charging drives activity elsewhere. Uniswap is the only large protocol currently generating evidence either way.
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I am pleased to share that my paper "The Decoupling of Ethereum's Economic Activity and Asset Value" has been accepted for presentation at ETHReS 2026 — the Ethereum Research Symposium held during ETHPrague. This work examines a question I believe is central to Ethereum's long-term sustainability: does the native asset still capture value from the economic activity the network hosts? After years of research on Ethereum, it is a privilege to present these findings to the community in Prague. Looking forward to the discussion. #Ethereum #ETHPrague #ETHReS2026 #DeFi #CryptoResearch #Blockchain
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@ethereum https://paragraph.com/@cryptoplaza/ethereum-as-an-open-source-state?referrer=0x3e0cf03f718520F30300266dcF4DB50bA12d3331 Ethereum’s long-term value depends on behaving like a state: neutral, sovereign, and sustainably funded to defend digital property rights.
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