The EIP That Destroys DeFi | Stani Kulechov & Mike Silagadze

Ethereum’s latest staking proposal is sparking backlash across DeFi. Aave founder Stani Kulechov and EtherFi CEO Mike Silagadze join David to break down why stake tapering could push ETH yield toward zero, weaken solo staking, drive capital out of DeFi, and make ETH less attractive to institutions. They debate Ethereum’s monetary policy, whether the network is overpaying for security, and why trying to make ETH more like Bitcoin could undermine what makes Ethereum valuable in the first place. Subscribe for more conversations from the frontier of crypto.

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TIMESTAMPS

Intro 0:00 

0:09 Ethereum’s Staking Debate

2:41 Stani’s First Reaction

7:48 Mike’s Centralization Concerns

14:37 DeFi Under Pressure

17:15 Stani on Yield and Cash Flow

24:54 The Case for Vanilla Ether

27:20 Mike Pushes Back

34:27 Issuance and Monetary Policy

35:16 Minimum Viable Issuance

40:47 Institutions Need Predictability

46:10 Conservative Yield, Not Zero

47:46 Legitimacy and Process

52:54 Final Verdict on the EIP

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RESOURCES

Stani Kulechov

https://x.com/StaniKulechov

Mike Silagadze

https://x.com/MikeSilagadze

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