The economic security is a meme thing is a bit strong and I don’t see how “Poof-of-Governance” isn’t just Proof-of-Authority again.
But still, I do think it’s true that networks are systemically over paying for security.
It's time to bring down inflation.
Hugely supportive the Near halvening propsal.
Hugely supportive the Celestia proof of governance proposal.
It's time to cut Solana emissions too.
Token emissions just seems to support things like validators in a race to the bottom for staking for whale.
Off chain rebates to become top validators to get retail to stake with you have been increasingly common.
validators need to be pressured to hold more of tokens and be active in the app layer to survive.
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