Ethereum Proposal Would Let Validator Majority Redirect Up to 10% of Staking Rewards to Ecosystem Funding
Developers and other Ethereum participants pushed back against a proposal that would let a majority of validators — the participants that help run the network and receive staking rewards — redirect as much as 10% of those rewards to ecosystem funding, including core development. One prominent critic, Rotki founder and Ethereum developer Lefteris, warned the mechanism could concentrate power among large stakers and create a staking cartel.
The dispute revives a longstanding argument over whether Ethereum should hardcode development funding into the protocol. Former Ethereum Foundation contributor Trent Van Epps warned that core development could face a funding crunch within three to nine months and estimated Ethereum's development ecosystem needs about $30 million a year, while critics of the latest idea argue similar mechanisms would weaken neutrality and push the network toward onchain governance.
From the sources (13 posts)
@lex_nodeRT @fubuloubu: In-protocol funding is a nonstarter, but even worse: there is no reasonable argument for integrating this at the protocol le…
@dcinvestori don't have much to new add to the current discussions around the EF, so i'll just reiterate what i've said in the past: 1) R&D activities should be spun out of the EF and managed separately via something resembling an industry consortium
@lex_nodeRT @owockibot: Ethereum tried twice to hardcode public goods funding into the protocol. Both failed. EIP 1890 died with a bang — credible…
@0xfoobar@lex_node this is perhaps one of the worst proposals i've read in recent memory even setting aside the communism and laziness, just completely ignorant of any sort of technical elegance or preserving asset credibility
@lex_node@EliBenSasson @dankrad the funding proposal isn't about the EF though ser, the EF is not asking for more money, they want to be minimalist & are saying they can last a long time on what they have this is about other players/parties wantin
@lex_node@banteg @niemerg yes, basically EOS lol I don't understand how people who have been in Ethereum ecosystem for so many years can ignore basic lessons/writings and foundational thinking about how the chain was designed
@lex_nodeRT @DeFi2099: @lex_node These proposals are so annoying, its begging for capture and ruining the credible neutrality of the network. I coul…
@lex_nodeone thing for sure--if Ethereum validators are wiling to accept 10% of their rewards going to a devmine than as much as I hate to admit it the issuance reduction people are actually right and we should just reduce issuance by 10% instead
@cointelegraph⚡️ NEW: Ethereum validators could redirect up to 10% of staking rewards to fund ecosystem projects under a new proposal.
@theblockcoEthereum 'tax' debate erupts over proposal to redirect portion of staking rewards to ecosystem funding
@wublockchainLefteris Warns Validator Funding Plan Could Create Staking Cartel Rotki founder and Ethereum developer @LefterisJP opposed a proposal to fund Ethereum core development through validator rewards, arguing it could create a cartel among lar
@laurashinWhat if validators had to fund Ethereum's development — whether they wanted to or not? 🤔⚡ A new proposal would let a validator majority redirect up to 10% of staking rewards to ecosystem funding. The Ethereum community is not happy. https
@zookoRT @moo9000: Ethereum proposal to add a ZCash-style developer contribution fee to ensure the sustainable development of Ethereum. This pro…