LDO and ETHFI dumped after proposal to reduce ETH staking rewards. If passed, EIP-8361 would drop ETH yield from today's ~2.6% to ~1.2% at currently 33% of all ETH staked. And would drop to 0% yield after 50% staked. Lido accounts for 21% of all ETH staked, followed by Binance (7.9%) and Etherfi 4%. Although Etherfi is less exposed as 63% of its revenue now comes from card business. Still, this yield reduction affects whole DeFi ecosystem. Especially yield protocols like Aave and Fluid who generate fees from LST/ETH loopooors. Personally, I'd love even higher yield for ETH. It would clearly distinguish ETH from BTC as the yield asset to retail and institutions. And higher yield rewards most active onchain participants. LSTs like wstETH make ETH the smart collateral that grows in price over time. Passing yield reduction would make sense if ETH burn was increasing, but the opposite is happening as Ethereum scales and fees (thus burn) is decreasing. Not a fan of the proposal although my understanding on impact to Ethereum security is low :((Ignas | DeFi)