I’ve been thinking quite a bit about staked ethereum (referenced as stETH) and the role it plays in Ethereum’s next big upgrade: “The Merge”. I cannot wrap my simpleton brain on why eth proponents (of which I am one) are framing it as a wealth creation event. I am long on eth as the catalyst for web3 adoption but when I view the “merge” and its associated staking yield through a financial lens, it is literally the worst of both worlds: yields of a US treasury bill with the risk of an unregula...

I’ve been thinking quite a bit about staked ethereum (referenced as stETH) and the role it plays in Ethereum’s next big upgrade: “The Merge”. I cannot wrap my simpleton brain on why eth proponents (of which I am one) are framing it as a wealth creation event. I am long on eth as the catalyst for web3 adoption but when I view the “merge” and its associated staking yield through a financial lens, it is literally the worst of both worlds: yields of a US treasury bill with the risk of an unregula...