(BlockBar) The ETF team recently considered EIP-2025 as an improvement for the Istanbul upgrade. But because this will increase the inflation rate accordingly, it causes great opposition among the community.
If approved, EIP-2025 is expected to add 0.0055 ETH per block within 18 months as a developer block incentive, reserved for funding the development of Etherum1.X. This will increase premiums within a specified period of time. The proposal aims to raise the inflation rate of tokens to provide funds for the development of ETF, and the additional funds will flow to a funding organization, which in turn will promote the development of ETF ecosystem. However, the proposal did not mention the procedures for the custody and use of the funds.
Eric Conner, a product researcher at Gnosis, argues that EIP-2025 is ridiculous and that the Ethernet community should not allow it to happen. He wrote on social media that it was ridiculous to learn that EIP-2025 would increase each block by 0.044 ETH and ultimately increase 136400 ETH for raising funds, which shouldn’t be allowed to happen. He then corrected his statement that each block actually increased by 0.0055 ETH. However, he still will object to the proposal.
Except for Eric Conner, Ameen Soleimani, chief executive of Spankchain, also objects to the EIP-2025. His comments are as follows: 1. ETF 1.x will be eliminated regarding its design, and the value of investment will only deteriorate in a few years; 2. The increase in circulation will be detrimental to the use of ETH as a value storage medium.
Anthony Sassano, founder of ethhub_io, said on social media that in addition to EIP-2025 raising inflation, there are many other ways to help ETF raise development funds, including DAO (Decentralized Autonomous Organization), grants from ETF’s open source reward platform, developing DAI or applying for the assistant funds.
Other objectors include Ryan Adams, founder of Mythos Capital, an encryption investment company, and David Hoffman, head of RealT platform operations. Others worry that the EIP-2025 proposal may set a bad example for the block chain industry, because it is not conducive to the balanced development of ETF to allow various schemes to be embedded in the charging structure of the block chain to expand funds. At the current ETH/US dollar price, ETF’s increase in inflation is equivalent to an increase in the community’s legal currency of US$30 million which is too high, especially under the condition of lacking accountability system.
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