Summary / Network Parameters Monad is EVM bytecode-equivalent (you can redeploy bytecode without recompilation)Cancun fork (TSTORE, TLOAD, MCOPY) is supported Opcode to gas units mapping is same as Ethereum (e.g. ADD is 4) RPC is compatible with geth, see RPC reference Blocks are every 500 ms Finality of block N occurs at the proposal of block N+2, i.e. finality is 1-second

Some incomplete thoughts on economics of 1) liquid staking; 2) restaking Proponents of liquid staking point to capital efficiency: use your capital twice, once in staking, once in DeFi. Strictly better? However as total amount staked increases, the yield offered is diluted. If liquid staking enables much more Ether to be staked, thus diluting yields, are prospective stakers really better off? Do I really prefer 2.5% (which gives me an LST I can deposit into DeFi) over 5% (if LSTs didn't exist)? Restaking, or, keeping up with the Joneses Most of the arguments I've heard about restaking draw incorrect parallels to leverage in traditional finance and warn of some "bank run" if the system delevers. That is an incorrect concern; when a user gets slashed on one AVS, his stake on all AVSes is reduced. What I think actually a risk is a corollary of the yield dilution described above. If 1 ETH can be staked many times, it will be, diluting yields and forcing stakers to follow suit just to get a reasonable yield.

Everyone is watching for the slope of the below line to be consistently negative for Ethereum to be 'ultra sound money'. I argue that this is an overly strict requirement, using math.  Summary Ethereum provides computation and transaction ordering as a service. Users and searchers pay for that service; the total revenue is an exogenous variable defined by demand. Revenue (yield) is distributed among stakers and nonstakers; the split is determined by network policies (block rewards and fee burn). These policies divert more or less yield to stakers, but the overall amount of yield is fixed; the weighted average of staker yield and nonstaker yield is always the inherent yield (the total income of the network divided by the total supply). This should be an obvious result, but we show it through math. There are some clear takeaways, for example it becomes clear that the goal of net Ethereum deflation (the Ultrasound Money meme) is a stricter condition than Ethereum network profitability. We could have net Ethereum deflation right now simply by tweaking network policies.