$RAIL stakers are earning 21.2% right now. but fees only support about half of that yield. in july, the DAO doubled the biweekly payout from 2.00% to 4.20% of treasury balances. > rewards per period: ~$50k -> ~$250k > annualized distributions: ~$6.5m > annualized revenue (trailing 90d): ~$3.5m distributions are running at nearly 2x fee generation, and 2026 fees are tracking $3.9m against $5.0m last year. the gap is being funded by reserves the treasury already held, plus 2.5m newly minted $RAIL. supply went from 57.5m -> 60m, so existing holders took 4.3% dilution to fund a faster payout. as the balance normalizes, yield should settle closer to 11%. now there is another relevant update. voting began today on a proposal that would deploy @RAILGUN_Project to @base, with ethereum stakers controlling the proxy and collecting its fees. arbitrum gives a useful comparsion: > Ethereum: $84m shielded, 0.021% of bridged value > Arbitrum: $3.2m shielded, 0.019% apply that rate to @base and you get ~$3m. base has more stablecoin liquidity and substantially more users, so the opportunity is larger. but a new chain does not solve the main bottleneck...distribution does. no mainstream production wallet currently exposes RAILGUN to users. kohaku will change that by putting shielded balances inside mainstream wallets, but the integration is still early. railtardio.