Two of the largest proof-of-stake networks are simultaneously reconsidering how many tokens they print, and the proposed changes aren’t cosmetic. Galaxy Research published an analysis on August 7 outlining how Ethereum’s EIP-8361 and Solana’s SIMD-0550 and SIMD-0553 could meaningfully alter the economic architecture of both chains.
Ethereum’s plan: burn validator rewards based on how much ETH is staked
EIP-8361 introduces a mechanism that scales validator reward burns according to the total percentage of ETH staked on the network. If 50% of ETH ends up staked, the proposal would allow up to 100% of validator rewards to be burned.
The practical impact on stakers would be significant. Current consensus-layer yields sit at roughly 2.6%. Under EIP-8361, those yields could decline to approximately 1.2%, effectively halving what validators earn for securing the network.
The changes would phase in over an 18-month period following inclusion in a future network upgrade. The target timeline places it after the Glamsterdam upgrade, which is expected in fall 2026, meaning the full effects of EIP-8361 likely wouldn’t materialize until 2028.
