Shape an issuance curve and see where staking settles in the long run. The steady state comes from Urban Jermann's equilibrium model of Ethereum: the staking ratio lands where the protocol's reward curve meets the yield holders require to stake. Today's curve and EIP-8363 stay on every chart for comparison.
PrototypeFor discussion among the EIP-8363 authors. It runs the model of Jermann's 19 August 2026 note on curves he did not analyse. Not for circulation until he has reviewed it and the note is cleared for citation.
Load a curve
Your curve
Drag the handles on the issuance chart, or use the sliders.
holds up, hard stopdrops early, long landing
Demand for staking
These set the required-yield curve R(d). They matter more than any curve parameter.
weaker demandstronger demand
Jermann's illustrative baseline is 75%. The page back-solves holders' patience (β̃) from this anchor at a 20% fee share.
Lower it to approximate MEV burn. Moving it holds patience fixed, so today's curve moves too.
Jermann's three robustness cases. The anchor is held, so patience is re-solved.
Issuance, % of supply per year
Your curveToday's curveEIP-8363
Nominal CL yield against the yield holders require
Your curveToday's curveEIP-8363Required yield R(d)R(d) if demand is ±10 points
Each curve settles where it crosses R(d). Nothing else about its shape enters the steady state.
Where staking settles if demand is weaker or stronger
Each bar spans the steady state when today's curve would settle 10 points lower or higher than the anchor. A curve that reaches zero caps how far staking can go.
Steady state
At the steady state
Today's curve
EIP-8363
Your curve
Three things the model says
Only the crossing counts. Every row of the table is a fixed function of the staking ratio where the curve meets R(d). Two curves that cross R(d) at the same point give identical tables, whatever their peaks look like.
Stakers' dilution-adjusted all-in yield never moves. It equals 1/β̃ − 1 for every curve. Curves change how many people stake and how fast supply grows, not what stakers earn after dilution.
The zero point is insurance. Under the anchor it rarely binds. It decides how far staking can climb if demand turns out stronger than assumed.
What this page cannot show
Who stakes. The model has one representative staker, so it says nothing about solo stakers versus pools, which is the most frequent objection to any curve change.
The path. Steady state only: no transition period, no exit queue, no price or demand shocks.
Security beyond one proxy. Staked ETH tracks the cost of attack against an adversary who must buy stake, and nothing else.
The exact EIP. Real curves are defined in ETH staked; the model works in ratios. The page converts at a 120.5M ETH supply, the EIP's fork assumption.
U. Jermann, EIP 8363: Tapered Issuance Burn in an Equilibrium Model, note of 19 Aug 2026: model, calibration and Table 1. Today's curve is his ratio form, 2.5% nominal at 33%.
EIP-8363 in ratio form: burn fraction (d/0.5)3/2, zero issuance from 50%.
"Justin" and "Frankenstein 0.25": shapes matched by eye to a chart from issuance.wtf. No published formula was found, so these presets are approximations.