Minimum Viable Issuance - HackMD

The article argues that Ethereum should keep issuance at a minimum viable level (MVI), issuing no more ether than security strictly requires, because excess issuance acts as an inflation tax that degrades user utility. Using a hypothetical supply curve, the author shows that halving issuance raises utility for all holders except those who stop staking, who are still better off overall. The author also contends that a 1 million ETH yearly difference between a 2 % and 3 % yield at 25 to 50 million ETH staked could instead accrue to token holders, and that high yields favor centralized exchanges and staking service providers.