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Regarding Stake Capping and EIP 8361: The Ethereum Foundation and many core researchers believe reducing issuance would be better for the network. They argue that it strengthens Ethereum's store-of-value (SoV) properties while maintaining or even improving long-term security. On the other hand, lending and DeFi applications argue that lower issuance would reduce their revenue and user activity, ultimately leading to less onchain activity and a net negative outcome for the network and ETH as a productive asset itself. Some loopers generate yield directly from issuance, so they have a clear economic incentive to oppose any reduction. What we really need is someone to run the numbers to stop the political answers and get right to it. If issuance is reduced: 1- Would looping still exist? If looping largely disappears, what activity would replace it, or how would that impact overall network or ETH usage? 2- If demand for LSTs/LRTs declines, how much would that reduce network activity and demand for ETH? 3- Would Ethereum's stronger deflationary characteristics increase ETH's price enough to offset some of the lost activity? 4-Would a lower issuance rate attract more users, capital, and new applications to the network over the long term? I'm not engaging in the solo-staker debate because I believe those arguments have already been addressed and don't materially alter the broader trajectory. (esp with Strawmap roadmap) Answering these questions would move the discussion away from ideology and toward NUMBERs.#SandiskBeatAndBuyback #CircleArcLaunch #EarningsRealityCheck