@especulacion

I spoke with the Ethereum Foundation research team during ETHCC about this very topic — particularly the idea of reducing staking rewards. In my view, this is clearly a negative measure for the demand side of ETH. There seems to be a lack of sensitivity in understanding what the core sources of demand for ETH actually are — and in the end, these are what define its price. I’m not sure I would frame it strictly as a "security" issue — that’s another debate — but what’s clear is that a significant drop in price negatively impacts the broader ecosystem. There was no serious analysis of how Dencun affected demand, and now once again, we’re seeing very little reflection on the potential market impact of critical upgrades like Uniswap V4 and the launch of Unichain. In this context, I believe that disincentivizing staking — even if it’s for ostensibly valid reasons — is ultimately a harmful decision for the Ethereum ecosystem unless it's backed by a rigorous analysis of its downstream effects.

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