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@DefiIgnas yield is the incentive for security not a charity

@DefiIgnas yeah man, better ways to burn eth exist than just cutting yields.

@DefiIgnas 这思路真的绝了👍

@DefiIgnas a burn funded by rollup users preserves validator incentives, but it ultimately becomes a tax on l2 users through higher fees

@DefiIgnas strong burn mechanism for $ETH will expose usage

@DefiIgnas I'm so agree with that

@DefiIgnas burn MEV, not yield

@DefiIgnas Time to tax those undeserving rich L2s x.com/0xJarod/status/208529920…

@DefiIgnas taxing l2s is the real alpha, burning yield just hurts stakers

or we could focus on aligning the economic and yield layers of Ethereum by introducing a yield-bearing alternative to liquid staked ETH. One that is not dependent on staking rewards and centralized actors but that can potentially yield more. x.com/polarisfinance_/status/2… some ever-rising fpETH with intrinsic yield

@DefiIgnas L2s need to pay real rent if we want real burn

@DefiIgnas trades like it's got infinite eth to burn but yields the only thing it actually prints

@DefiIgnas Burn > cut yield, every time. Taxing the L2s is the spicy one though — good luck getting that through!

@DefiIgnas painful that tron has the cleaner burn loop here

@DefiIgnas Like this

@DefiIgnas Imo the best way is to 10x L2 fees. They are sub cent anyway

@DefiIgnas monetizing MEV or taxing L2s does not burn ETH for free it just moves the extraction point. someone still pays the question is who and how visibly

@DefiIgnas how would you tax L2s without pushing activity elsewhere?

@DefiIgnas burning via real usage instead of cutting yield is the harder problem, but it's the only version that doesn't just shift the cost onto stakers

@DefiIgnas Native LSTs, native L2s and other new services could burn eth

@DefiIgnas ethereans looking at tron for burn mechanics was not on my bingo card but here we are

@DefiIgnas being so simple where to put focus, why eth core people eips so stupid

@DefiIgnas Sounds like a reasonable alternative, we need more L1 network activity

@DefiIgnas MEV extraction's the move. L2s benefit from Ethereum security, makes sense they contribute back. Could actually incentivize better sequencer design too.

@DefiIgnas Stakers are voting to signal where they stand on this right now. So far the 'NO' votes are ahead by 480 ETH. hub.ethva.net/eip/8363

@DefiIgnas @xnsname is a great example how applications can contribute to the ETH burn. 80% of registration fees are burned. It’s essentially a voluntary tax paid to ETH holders.

@DefiIgnas Charge state rent on new forms of state, and burn that...

@DefiIgnas bandwidth and energy is ugly branding but the token sink clearly works

@DefiIgnas Let L2s pay fair rent. They use the network, while the entire burden falls on L1 stakers, like a 40 years old still living in their parents basement.

@DefiIgnas Exactly

@DefiIgnas From a competitive perspective its not quite the time wrt L2s Can't tax L2s too much or alternatives like Monad actually become differentiated. The best course of action would be to keep ETH L2's cheap and wait for alternative L1's incentives to run low before increasing rake

@DefiIgnas agreed

@DefiIgnas taxing L2s is long overdue

@DefiIgnas Forget about even burning.. make staking so simple every human with a smart phone can do it and secure the goddamn network. Isn’t that the goal from the begining to decentralize the chain. Tokenomics shows consistently less supply ≠ price go up. It is a fallacy, like DAO votes