Exploring Ethereum Governance Beyond Issuance Curve Discussions
The Issuance Curve Debate
When is a discussion about the issuance curve of staking rewards in Ethereum not really a discussion about the issuance curve of staking rewards in Ethereum? When it’s really about Ethereum governance and Ethereum’s monetary policy.
The Role of Ethereum Foundation
Starting with a post in February on the Ethereum research forum, Ethereum protocol developers and researchers have started the discussion about how best to address it, with the key change centering on a new issuance reward formula that makes staking past a certain point unattractive.
Community Engagement
Exciting stuff! Except, the reaction on social media has tended to focus less on the technical details of this proposal and more on the idea that it involves changing Ethereum’s monetary policy. In other words, it’s not really issuance that is at stake, so much as people have a sense that the “Core Devs” (a somewhat ambiguous term in Ethereum), particularly those associated with the Ethereum Foundation, have not engaged in the appropriate level of “rough consensus” from the wider set of stakeholders.
Empowering Stakeholders
In the context of Ethereum Governance, the wider stakeholders encompass everyday users, node operators, validators/stakers, niche Ethereum media and podcasts, and dApp builders. In at least two recent media articles, these stakeholders are referred to as the community, and the community is either ‘up in arms’ or pushing back against the proposal.
Subscribe to Amen Crypto newsletter to stay updated with the latest Ethereum price updates and predictions. Explore Eigen Layer: Ethereum’s Second-Largest DeFi Protocol. Learn More Now!
