▲Base Layers Tighten Their Own Money Supply

Score history

Daily conviction score, 0 to 100. Higher means the thesis is more strongly corroborated.

Now 43 · -2 since Aug 27 · ranged 41 to 43

Showing the last few days. Unlock full score history.

Why the conviction moved

• Aug 27
  Strengthened +5

  Solana is weighing proposals that would cut about $1.5 billion in annual token issuance. A cut of that size shifts validator income toward volatile fee revenue and makes the security budget dependent on activity cycles, the exact mechanism the thesis tracks.

• Aug 25
  Strengthened +5

  Ethereum Improvement Proposal 8390 would retire the sync committee and cut roughly 33,800 ETH of annual issuance, replacing an in-protocol light-client mechanism with off-chain zero-knowledge finality proofs. This is issuance reduction arriving as a by-product of an architecture change rather than a monetary debate, which makes the tightening easier to pass and harder to reverse.

• Aug 25
  Strengthened +6

  Solana validators are voting on three proposals, two of which would accelerate the decline in SOL inflation and lift daily fee burns from about 650 SOL toward as much as 9,000 SOL, worth roughly $800,000. This is the same week as Ethereum's EIP-8390 issuance cut, and it shifts validator income further onto volatile fee revenue — the security-budget consequence the thesis flags.

Source trail

• Supporting · August 27, 2026

  Cardano and Solana Votes Expose How Little Participation Decides Chain Policy

  Solana is weighing proposals that would cut about $1.5 billion in annual token issuance. A cut of that size shifts validator income toward volatile fee revenue and makes the security budget dependent on activity cycles, the exact mechanism the thesis tracks.

  CryptoSlate

• Supporting · August 25, 2026

  Ethereum Proposal Would Retire the Sync Committee and Cut About 33,800 ETH of Annual Issuance

  Ethereum Improvement Proposal 8390 would retire the sync committee and cut roughly 33,800 ETH of annual issuance, replacing an in-protocol light-client mechanism with off-chain zero-knowledge finality proofs. This is issuance reduction arriving as a by-product of an architecture change rather than a monetary debate, which makes the tightening easier to pass and harder to reverse.

  CryptoSlate