I think if L1/etc teams that are now years along the road and very close to full early stage investor unlocks want these inflation reduction proposals to be taken seriously, they need to include provisions that retroactively slash the inflation rewards for the past X years that investors and team with staked locked tokens were also receiving (assuming in these cases that the early investors weren’t already selling their locked staked token rewards)
Props to NEAR for trying shift their economic security model with lower inflation/dilution, but as a user I would want to see more alignment
NEAR proposing to slash inflation in half. I suspect we'll see more of these, and I support pretty much all of them. Recall Solana proposed the same thing in March.
Almost all of these L1s are overpaying for security—our mental model of security back in the era when their emissions curves were first created (~2019) were overly narrow about the actual security threats to L1s. As a result, validators are being overpaid across almost every L1, incurring tax leakage and needless inflation.
From 2019 to today, we know a lot more about how L1s actually work in the wild, but almost none of these inflation schedules have been touched since then. It's high time.
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