Ethereum researchers have proposed a burn system that could reduce new ETH issuance to zero. Under the plan, newly issued validator rewards would be gradually burned, with the burn rate reaching 100% once 60.25 million ETH is staked, a level valued at about $112 billion.

The proposal is designed to slow staking growth and limit dilution. It was submitted before the Aug. 6 deadline for proposed changes to Ethereum’s Hegotá upgrade, putting it into a broader debate over how the network balances staking incentives, validator participation and token issuance.

Предложение Ethereum нацелено на нулевой выпуск

Under the draft, the network would burn an increasing share of validator rewards as more ETH is committed to staking. The burn rate would rise over time and reach 100% when about half of Ethereum’s supply is locked.

The deduction would be applied at the end of each epoch, which lasts about 6.4 minutes. Validators would continue receiving transaction fees and tips, while only newly issued ETH would be subject to the burn.

The proposal includes an 18-month phase-in period after activation. Developers also expect about six months of preparation before the upgrade is shipped, giving validators roughly two years to adjust.

Six researchers signed the draft, including Ethereum Foundation researcher Justin Drake. The authors say staking rewards would remain attractive even if participation rises substantially.

They estimate staking yield could remain near 1.5% even if most ETH enters the system. Jérôme de Tychey projects that staked ETH could exceed 70 million by January 2028 if no changes are made.

Рост стейкинга вызывает опасения для сети

About 41 million ETH is currently staked, equal to nearly 34% of the supply. Another 2.5 million ETH is waiting in the activation queue, while the exit queue remains empty.

Ethereum limits daily validator entries and exits to reduce sudden changes to the network. Around 57,600 ETH can enter staking each day, which can create waits of six weeks or longer.

The authors say excessive staking could push more ETH toward exchanges and large staking providers. They also warn that smaller independent validators could struggle as staking becomes more concentrated.

Группы DeFi оспаривают план

Aave Labs chief executive Stani Kulechov said lower staking rewards could weaken ETH borrowing strategies. Many users borrow ETH to buy staked ETH and rely on the yield spread.

"My thoughts on Ethereum staking yield axing tl;dr Save ETH staking. — Stani (@StaniKulechov) August 4, 2026"

Ether.fi founder Mike Silagadze also criticized the review period. He said lower rewards could reduce staking demand and return more ETH to circulation.

The proposal may miss Hegotá because it lacks broad agreement and arrived near the deadline. A later Ethereum upgrade may allow more time for testing and debate.