This proposal misses what the incremental ETH buyers (TradFi) actually want, while creating infighting among Ethereum’s long-term supporters (DeFi). It’s not clear to me who it’s supposed to serve. TradFi wants: - Yield: even inflationary yield. ETF issuers are increasingly excited about passing staking yield to holders - Revenue: Ethereum needs a clear line of sight to sustainable monetization - The real issue: incremental users/liquidity have been going to Base and Robinhood Chain, not mainnet. Better to focus on growth (driving mainnet onboarding and usage, or monetizing L2s) than on austerity DeFi cares about: - Native ETH yield, which makes up a real chunk of some app revenues. Killing it overnight alienates builders and long-term supporters - Credible neutrality: OGs are ideologues on this, and issuance being changeable by a few individuals undermines it