EIP-8363, a draft Ethereum Improvement Proposal introduced earlier this week, has already received 28 signals representing about 83,000 ETH on EVA Hub, with roughly 99.8% of participating stake opposed and just 0.2% in support.
- The poll is run by the Ethereum Validators Association and weights votes according to how much ETH each participating operator has staked.
- At ETH prices around $1,900, the 83,000 ETH represented is worth roughly $158 million.
But the result isn't an Ethereum governance vote. EVA says its polls measure validator sentiment, are non-binding and represent only operators who choose to participate. The current sample also accounts for only a small fraction of all ETH staked on the network.
Staking income could fall almost in half
As The Coinformer reported earlier, EIP-8363 would change Ethereum's issuance system by burning part of the rewards that validators would otherwise receive. The share burned would increase as more ETH is staked.
- At roughly the current staking ratio, models based on the proposal put consensus-layer yield at around 1.2% compared with about 2.6% today.
- One analysis posted alongside the proposal estimated total validator income, including execution-layer rewards, could fall about 48% once the planned transition is complete.
Validators could still earn transaction-related and MEV income, so their total return wouldn't literally fall to zero.
The reduction would be phased in over about 18 months. Supporters argue the change is needed to prevent an ever-growing share of ETH from being locked in staking and to reduce the risk that large staking providers eventually dominate the network.
One of the proposal's authors said its aim is to create an equilibrium below a 50% staking ratio.
Critics warn about smaller stakers
But the proposal has drawn unusually sharp criticism since it was published on Aug. 4.
Opponents argue that lower rewards could hurt solo validators with fixed hardware, electricity and operational costs before they discourage larger professional operators.
For instance, FP Validated, the validator arm of research firm Four Pillars, said it voted against EIP-8363 because lower yields could push smaller operators out before large custodians and staking providers, which can absorb losses through scale and other businesses.
Four Pillars
It added that Ethereum's issuance model may eventually need to change, but argued the network should first agree on validators' future role and the security budget they should receive.