The estimated net inflation rate of ETH via the Proof-of-Stake consensus protocol and supply burn via the EIP1559 protocol. The volume of ETH issued is dictated by the number of Active Validators participating in consensus, with the total minted supply increasing as more validators enter the pool.

This inflation rate metric is annualized, and presented in percentage terms (i.e. a reading of 0.5 = 0.5%).

• Positive values indicate ETH supply inflation
• Negative values indicate ETH supply deflation

With the ETH burn mechanism implemented in EIP1559, the net issuance can be calculated as Nominal Supply Issuance - Supply Burnt by EIP1559. This Workbench chart presents the following traces:

• Nominal PoS Issuance Rate 🔵 indicative of the annualized rate of ETH minted by both the PoW and PoS consensus mechanisms.

• EIP1559 Burn Rate 🔴 indicative of the annualized rate of supply burn each day.

• Net Rate of Supply Change 🟣 calculated as the annualized rate of supply change considering Nominal Issuance minus Supply Burned.

Note, this chart considers only Proof-of-Stake and the EIP1559 Burn. The overlap of supply issuance between the deprecated Proof-of-Work blockchain, and the Proof-of-Stake Beacon Chain is ignored. For a simulated view of the PoW, PoS and combined issuance, refer to this Workbench Preset