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This shift, which made it so validators are rewarded with both protocol emissions and priority transaction fees, also unlocked something perhaps less obvious but absolutely groundbreaking for Ethereum: the introduction of a native interest rate. Staking ether (ETH), the ecosystem’s native token, now pays an interest rate. This forms a sort of bedrock layer – similar to the role interest rates play in traditional finance – that could power a new, global staking economy. For this to work, though, there must be a reference rate, so investors know what the benchmark is at any given time – a reliable number derived by observing the mean, annualized returns across a comprehensive validator population.
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