Parameter Value Explanation

general assumptions:
(change if you disagree)
personal assumptions:
(adjust to match your situation)
income required for living
tx fee/block 0.5 Total fees in Eth including base fee a
tip ratio 21% The percentage of fees that is the tip
Flashbots blocks 80% The ratio of blocks that extract MEV
MEV/FB block 0.1 Eth MEV that is extracted with each F
merge date 1.6.2022 Expected day of the the Eth1&Eth2 m
pre merge block time 13.1 Seconds, average blocktime before t
validators owned 1 Number of full validators that you ope
tax rate 0% % taxes paid on validator income.
commission 0% % of rewards kept by potential stakin
$2,500.00 How much you need to make a living

calculated values: Parameter Value Explanation

MEV/Block 0.08 effective average Eth MEV per block
tip/block 0.105 Eth per Block from tips

other assumptions: 99% personal validator & network uptime

Rewards are [base reward * 1,000,000/number total validators] when
Number of new validator activations is maximal, meaning, queue is n
Calculation of validator count is approximate. Tricky to get exact, as
12 s block time after the merge
churn limit 65,536 (validator activation)

The timeline shown here only works under the assumption of a maximal va
The actual activation rate has shown to be sub-maximal. See the other tab
Block proposals are random and the frequency values presented are avera

date/month 1.6.2021 1.7.2021 1.8.2021 1.9.2021 1.10.2021

merged? no no no no no
total validators 162,919 187,587 202,352 227,492 244,185
average max validator activations per day 900 900 900 900 900
total Eth staking (million) 5.2 6.0 6.5 7.3 7.8
blocks/month 197,863 204,458 204,458 197,863 204,458
av. block proposal frequency/month 1.21 1.09 1.01 0.87 0.84
tip + MEV (Eth) 0.000 0.000 0.000 0.000 0.000
attestation + propsal reward (Eth) 0.190 0.177 0.170 0.161 0.155
total reward (Eth) 0.190 0.177 0.170 0.161 0.155
MPY 0.59% 0.55% 0.53% 0.50% 0.48%
APY 7.12% 6.64% 6.39% 6.03% 5.82%

invst monthly fiat earnings vs. total Ether staked (million)

5.2 6.0 6.5 7.3 7.8
 $1,000 $190 $177 $170 $161 $155
$1,500 $285 $265 $256 $241 $233
$2,000 $380 $354 $341 $321 $310
$3,000 $570 $531 $511 $482 $465
$4,000 $760 $708 $682 $643 $620
$5,000 $950 $885 $852 $804 $776
$6,000 $1,140 $1,062 $1,022 $964 $931
$7,000 $1,329 $1,239 $1,193 $1,125 $1,086
$8,000 $1,519 $1,416 $1,363 $1,286 $1,241
$9,000 $1,709 $1,593 $1,534 $1,446 $1,396
$10,000 $1,899 $1,770 $1,704 $1,607 $1,551
$12,000 $2,279 $2,124 $2,045 $1,928 $1,861
$14,000 $2,659 $2,478 $2,386 $2,250 $2,172
$16,000 $3,039 $2,832 $2,726 $2,571 $2,482
$18,000 $3,419 $3,186 $3,067 $2,893 $2,792
$20,000 $3,798 $3,540 $3,408 $3,214 $3,102
$22,500 $4,273 $3,982 $3,834 $3,616 $3,490
$25,000 $4,748 $4,425 $4,260 $4,018 $3,878
$27,500 $5,223 $4,867 $4,686 $4,419 $4,266
$30,000 $5,698 $5,310 $5,112 $4,821 $4,653
$35,000 $6,647 $6,194 $5,964 $5,625 $5,429
$40,000 $7,597 $7,079 $6,816 $6,428 $6,204
$45,000 $8,546 $7,964 $7,668 $7,232 $6,980
$50,000 $9,496 $8,849 $8,520 $8,035 $7,756
$60,000 $11,395 $10,619 $10,224 $9,642 $9,307
$70,000 $13,294 $12,389 $11,928 $11,249 $10,858
$80,000 $15,193 $14,159 $13,632 $12,856 $12,409
$90,000 $17,093 $15,929 $15,336 $14,463 $13,960
$100,000 $18,992 $17,698 $17,040 $16,070 $15,511
$120,000 $22,790 $21,238 $20,448 $19,285 $18,613
$140,000 $26,588 $24,778 $23,856 $22,499 $21,716
$160,000 $30,387 $28,317 $27,264 $25,713 $24,818
$180,000 $34,185 $31,857 $30,672 $28,927 $27,920
$200,000 $37,984 $35,397 $34,080 $32,141 $31,022

Monthly Fiat
$12,000

$10,000

$8,000
Monthly Fiat Returns

$6,000

$4,000
 $8,000

Monthly Fiat Returns

$6,000

$4,000

$2,000

$0
0 0 0 0 0 0 0 0
, 00 , 50 , 00 , 00 , 00 , 00 , 00 , 00
$1 $1 $2 $3 $4 $5 $6 $7 $

Monthly Fiat Retur

$100,000

$90,000

$80,000

$70,000

$60,000
Monthly Fiat Returns

$50,000

$40,000

$30,000

$20,000

$10,000

$0
00 00 00 00 00 00 00 00 00 00
1,0 1,5 2,0 3,0 4,0 5,0 6,0 7,0 8,0 9,0
$ $ $ $ $ $ $ $ $ $
$10,000

$0
0 0 0 0 0 0 0 0 0 0
, 00 , 50 , 00 , 00 , 00 , 00 , 00 , 00 , 00 , 00
$1 $1 $2 $3 $4 $5 $6 $7 $8 $9
n Eth including base fee and tip. Highly dependent on block space demand. https://bitinfocharts.com/ethereum/
tage of fees that is the tip. ~25% in first month after EIP1559.
blocks that extract MEV via Flashbots. Currently around 60%, probably trending up.
at is extracted with each Flashbots block. https://explore.flashbots.net/
ay of the the Eth1&Eth2 merger.
verage blocktime before the merge. https://etherscan.io/chart/blocktime
full validators that you operate. 32 Eth staked = 1 validator. Fractions possible.
id on validator income.
ds kept by potential staking service provider (e.g. 15%)
you need to make a living each month (after taxes and fees).

erage Eth MEV per block

ck from tips

mber total validators] when there are more than 1,000,000 validators (current proposal: "sleeping" validator rotation).
imal, meaning, queue is never empty and nobody exits, average monthly activation rate used for calculation (not exact).
e. Tricky to get exact, as the formula is recursive and activation rate changes slightly every epoch.

umption of a maximal validator activation rate (and no exits)! Total validators may never go that high. Number may increase much
ximal. See the other tab for a model reflecting this.
ues presented are averages. There is luck involved and you may not get any block proposals with their associated rewards in a g

1.11.2021 1.12.2021 1.1.2022 1.2.2022 1.3.2022 1.4.2022 1.5.2022 1.6.2022 1.7.2022 1.8.2022 1.9.2022
no no no no no no no yes yes yes yes
252,762 264,205 275,830 289,571 301,597 335,133 371,388 412,711 457,305 508,131 564,726
900 900 900 900 900 1125 1125 1350 1350 1575 1800
8.1 8.5 8.8 9.3 9.7 10.7 11.9 13.2 14.6 16.3 18.1
197,863 204,458 204,458 184,672 204,458 197,863 204,458 216,000 223,200 223,200 216,000
0.78 0.77 0.74 0.64 0.68 0.59 0.55 0.52 0.49 0.44 0.38
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.097 0.090 0.081 0.071
0.152 0.149 0.146 0.142 0.140 0.132 0.126 0.119 0.113 0.108 0.102
0.152 0.149 0.146 0.142 0.140 0.132 0.126 0.216 0.204 0.189 0.173
0.48% 0.47% 0.46% 0.45% 0.44% 0.41% 0.39% 0.68% 0.64% 0.59% 0.54%
5.72% 5.59% 5.47% 5.34% 5.23% 4.96% 4.72% 8.10% 7.64% 7.08% 6.48%

8.1 8.5 8.8 9.3 9.7 10.7 11.9 13.2 14.6 16.3 18.1
 $152 $149 $146 $142 $140 $132 $126 $216 $204 $189 $173
$229 $224 $219 $214 $209 $199 $189 $324 $305 $283 $259
$305 $298 $292 $285 $279 $265 $252 $432 $407 $378 $345
$457 $447 $438 $427 $419 $397 $377 $648 $611 $566 $518
$610 $596 $584 $570 $558 $530 $503 $864 $814 $755 $691
$762 $746 $730 $712 $698 $662 $629 $1,081 $1,018 $944 $864
$915 $895 $876 $855 $837 $794 $755 $1,297 $1,222 $1,133 $1,036
$1,067 $1,044 $1,022 $997 $977 $927 $880 $1,513 $1,425 $1,321 $1,209
$1,220 $1,193 $1,168 $1,139 $1,116 $1,059 $1,006 $1,729 $1,629 $1,510 $1,382
$1,372 $1,342 $1,313 $1,282 $1,256 $1,192 $1,132 $1,945 $1,833 $1,699 $1,555
$1,525 $1,491 $1,459 $1,424 $1,396 $1,324 $1,258 $2,161 $2,036 $1,888 $1,727
$1,829 $1,789 $1,751 $1,709 $1,675 $1,589 $1,509 $2,593 $2,443 $2,265 $2,073
$2,134 $2,088 $2,043 $1,994 $1,954 $1,853 $1,761 $3,026 $2,851 $2,643 $2,418
$2,439 $2,386 $2,335 $2,279 $2,233 $2,118 $2,012 $3,458 $3,258 $3,020 $2,764
$2,744 $2,684 $2,627 $2,564 $2,512 $2,383 $2,264 $3,890 $3,665 $3,398 $3,109
$3,049 $2,982 $2,919 $2,849 $2,791 $2,648 $2,515 $4,322 $4,072 $3,775 $3,455
$3,430 $3,355 $3,284 $3,205 $3,140 $2,979 $2,830 $4,863 $4,581 $4,247 $3,886
$3,811 $3,728 $3,648 $3,561 $3,489 $3,310 $3,144 $5,403 $5,090 $4,719 $4,318
$4,193 $4,101 $4,013 $3,917 $3,838 $3,641 $3,458 $5,943 $5,600 $5,191 $4,750
$4,574 $4,473 $4,378 $4,273 $4,187 $3,972 $3,773 $6,484 $6,109 $5,663 $5,182
$5,336 $5,219 $5,108 $4,985 $4,885 $4,634 $4,402 $7,564 $7,127 $6,607 $6,046
$6,098 $5,965 $5,838 $5,697 $5,582 $5,296 $5,030 $8,645 $8,145 $7,551 $6,909
$6,860 $6,710 $6,567 $6,409 $6,280 $5,958 $5,659 $9,725 $9,163 $8,495 $7,773
$7,623 $7,456 $7,297 $7,122 $6,978 $6,620 $6,288 $10,806 $10,181 $9,438 $8,637
$9,147 $8,947 $8,756 $8,546 $8,374 $7,943 $7,546 $12,967 $12,217 $11,326 $10,364
$10,672 $10,438 $10,216 $9,970 $9,769 $9,267 $8,803 $15,128 $14,253 $13,214 $12,091
$12,196 $11,929 $11,675 $11,395 $11,165 $10,591 $10,061 $17,289 $16,290 $15,101 $13,819
$13,721 $13,420 $13,134 $12,819 $12,561 $11,915 $11,318 $19,451 $18,326 $16,989 $15,546
$15,246 $14,912 $14,594 $14,243 $13,956 $13,239 $12,576 $21,612 $20,362 $18,877 $17,273
$18,295 $17,894 $17,513 $17,092 $16,747 $15,887 $15,091 $25,934 $24,434 $22,652 $20,728
$21,344 $20,876 $20,431 $19,940 $19,539 $18,535 $17,606 $30,256 $28,507 $26,427 $24,183
$24,393 $23,859 $23,350 $22,789 $22,330 $21,182 $20,121 $34,579 $32,579 $30,203 $27,637
$27,442 $26,841 $26,269 $25,638 $25,121 $23,830 $22,637 $38,901 $36,651 $33,978 $31,092
$30,491 $29,823 $29,188 $28,486 $27,912 $26,478 $25,152 $43,223 $40,724 $37,753 $34,547

Monthly Fiat Returns vs. Ether Price and Total Ether Staked
 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
, 00 , 00 , 00 , 00 , 00 , 00 , 00 , 00 , 00 , 00 , 00 , 50 , 00 , 50 , 00 , 00 , 00 , 00
$5 $6 $7 $8 $9 $1
0
$1
2
$1
4
$1
6
$1
8
$2
0
$2
2
$2
5
$2
7
$3
0
$3
5
$4
0
$4
5
$5
0

Ether Price

nthly Fiat Returns vs. Ether Price and Total Ether Staked - Log Chart

00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00
6,0 7,0 8,0 9,0 0,0 2,0 4,0 6,0 8,0 0,0 2,5 5,0 7,5 0,0 5,0 0,0 5,0 0,0 0,0 0,0 0,0 0,0
$ $ $ $ $1 $1 $1 $1 $1 $2 $2 $2 $2 $3 $3 $4 $4 $5 $6 $7 $8 $9 0
$1
00 00
0
00
0
00
0
00
0
00
0
00
0
00
0
00
0
00
0
00
0
50
0
00
0
50
0
00
0
00
0
00
0
00
0
00
0
00
0
00
0
00
0
00
0
, , , , , , , , , , , , , , , , , , , , , ,
$6 $7 $8 $9 $1
0
$1
2
$1
4
$1
6
$1
8
$2
0
$2
2
$2
5
$2
7
$3
0
$3
5
$4
0
$4
5
$5
0
$6
0
$7
0
$8
0
$9
0 0
$1

Ether Price
arts.com/ethereum/

ashbots.net/

n.io/chart/blocktime

on (not exact).

gh. Number may increase much slower at some point and thus, APR would taper off much later!

their associated rewards in a given time frame! On the other hand, you may get more at times.

1.10.2022 ### 1.12.2022 1.1.2023 1.2.2023 1.3.2023 1.4.2023 1.5.2023 1.6.2023 1.7.2023
yes yes yes yes yes yes yes yes yes yes
625,672 695,495 770,605 856,572 952,406 1,048,504 1,165,484 1,291,435 ### 1,590,880
2025 2250 2475 2925 3150 3375 3825 4275 4725 5400
20.0 22.3 24.7 27.4 30.5 33.6 37.3 41.3 45.9 50.9
223,200 216,000 223,200 223,200 201,600 223,200 216,000 223,200 216,000 223,200
0.36 0.31 0.29 0.26 0.21 0.21 0.19 0.17 0.15 0.14
0.066 0.057 0.054 0.048 0.039 0.039 0.034 0.032 0.028 0.026
0.097 0.092 0.087 0.083 0.079 0.075 0.071 0.067 0.064 0.061
0.163 0.149 0.141 0.131 0.118 0.109 0.090 0.077 0.064 0.054
0.51% 0.47% 0.44% 0.41% 0.37% 0.34% 0.28% 0.24% 0.20% 0.17%
6.11% 5.60% 5.28% 4.91% 4.41% 4.08% 3.39% 2.89% 2.40% 2.04%

20.0 22.3 24.7 27.4 30.5 33.6 37.3 41.3 45.9 50.9
 $163 $149 $141 $131 $118 $109 $90 $77 $64 $54
$244 $224 $211 $196 $177 $163 $135 $115 $96 $82
$326 $299 $282 $262 $235 $218 $181 $154 $128 $109
$489 $448 $423 $393 $353 $327 $271 $231 $192 $163
$651 $597 $563 $524 $471 $436 $361 $308 $256 $218
$814 $747 $704 $655 $588 $545 $452 $385 $320 $272
$977 $896 $845 $786 $706 $654 $542 $462 $384 $327
$1,140 $1,045 $986 $917 $824 $762 $632 $539 $447 $381
$1,303 $1,195 $1,127 $1,048 $941 $871 $722 $616 $511 $436
$1,466 $1,344 $1,268 $1,179 $1,059 $980 $813 $693 $575 $490
$1,629 $1,493 $1,409 $1,310 $1,177 $1,089 $903 $770 $639 $545
$1,954 $1,792 $1,690 $1,572 $1,412 $1,307 $1,084 $924 $767 $654
$2,280 $2,091 $1,972 $1,834 $1,647 $1,525 $1,264 $1,077 $895 $763
$2,606 $2,389 $2,254 $2,096 $1,883 $1,743 $1,445 $1,231 $1,023 $872
$2,932 $2,688 $2,536 $2,358 $2,118 $1,961 $1,626 $1,385 $1,151 $981
$3,257 $2,987 $2,817 $2,620 $2,353 $2,178 $1,806 $1,539 $1,278 $1,090
$3,665 $3,360 $3,170 $2,947 $2,648 $2,451 $2,032 $1,732 $1,438 $1,226
$4,072 $3,733 $3,522 $3,275 $2,942 $2,723 $2,258 $1,924 $1,598 $1,362
$4,479 $4,107 $3,874 $3,602 $3,236 $2,995 $2,484 $2,116 $1,758 $1,499
$4,886 $4,480 $4,226 $3,930 $3,530 $3,268 $2,709 $2,309 $1,918 $1,635
$5,701 $5,227 $4,930 $4,585 $4,118 $3,812 $3,161 $2,694 $2,237 $1,907
$6,515 $5,974 $5,635 $5,240 $4,707 $4,357 $3,612 $3,078 $2,557 $2,180
$7,329 $6,720 $6,339 $5,895 $5,295 $4,902 $4,064 $3,463 $2,876 $2,452
$8,144 $7,467 $7,044 $6,550 $5,884 $5,446 $4,515 $3,848 $3,196 $2,725
$9,772 $8,960 $8,452 $7,860 $7,060 $6,535 $5,419 $4,618 $3,835 $3,270
$11,401 $10,454 $9,861 $9,170 $8,237 $7,625 $6,322 $5,387 $4,474 $3,815
$13,030 $11,947 $11,270 $10,480 $9,414 $8,714 $7,225 $6,157 $5,114 $4,360
$14,659 $13,440 $12,678 $11,790 $10,590 $9,803 $8,128 $6,927 $5,753 $4,904
$16,287 $14,934 $14,087 $13,100 $11,767 $10,892 $9,031 $7,696 $6,392 $5,449
$19,545 $17,921 $16,905 $15,719 $14,121 $13,071 $10,837 $9,235 $7,670 $6,539
$22,802 $20,907 $19,722 $18,339 $16,474 $15,249 $12,643 $10,775 $8,949 $7,629
$26,060 $23,894 $22,539 $20,959 $18,827 $17,428 $14,450 $12,314 $10,227 $8,719
$29,317 $26,881 $25,357 $23,579 $21,181 $19,606 $16,256 $13,853 $11,506 $9,809
$32,575 $29,868 $28,174 $26,199 $23,534 $21,785 $18,062 $15,392 $12,784 $10,899

10.00%
ked

5.00%
APY

10.4 M Eth
21.5 M Eth
32.7 M Eth
44.8 M Eth
60.8 M Eth
 5.00%

APY
10.4 M Eth
21.5 M Eth
32.7 M Eth
44.8 M Eth
60.8 M Eth

0.00%
2 5 8 5 3 .7 .2 .3 .0 .7 .5
5. 6. 7. 8. 9. 10 13 16 20 24 30 37

total Eth staking (M)

0 0 0 0 0
, 00 , 00 , 00 , 00 , 00
0 5 0 5 0
$3 $3 $4 $4 $5

Log Chart

10.4 M Eth
21.5 M Eth
32.7 M Eth
44.8 M Eth
60.8 M Eth

00 00 00 00 00 00
0,0 0,0 0,0 0,0 0,0 0,0
$5 $6 $7 $8 $9 $1
0
 0 0 0 0 0 0
, 00 , 00 , 00 , 00 , 00 , 00
0 0 0 0 0 00
$5 $6 $7 $8 $9 $1
 1.8.2023 1.9.2023 1.10.2023 ###
yes yes yes
1,768,818 1,966,413 2,179,376
5850 6750 7425
56.6 62.9 69.7
223,200 216,000 223,200
0.13 0.11 0.10
0.023 0.020 0.019
0.058 0.055 0.052
0.046 0.038 0.033
0.14% 0.12% 0.10%
1.72% 1.43% 1.22%

56.6 62.9 69.7

 $46 $38 $33
$69 $57 $49
$92 $76 $65
$137 $114 $98
$183 $152 $130
$229 $191 $163
$275 $229 $195
$320 $267 $228
$366 $305 $260
$412 $343 $293
$458 $381 $325
$549 $457 $390
$641 $534 $455
$732 $610 $520
$824 $686 $585
$915 $762 $650
$1,030 $858 $731
$1,144 $953 $813
$1,258 $1,048 $894
$1,373 $1,143 $975
$1,602 $1,334 $1,138
$1,830 $1,525 $1,300
$2,059 $1,715 $1,463
$2,288 $1,906 $1,625
$2,746 $2,287 $1,950
$3,203 $2,668 $2,275
$3,661 $3,049 $2,600
$4,119 $3,430 $2,925
$4,576 $3,811 $3,250
$5,491 $4,574 $3,900
$6,407 $5,336 $4,550
$7,322 $6,098 $5,200
$8,237 $6,861 $5,851
$9,152 $7,623 $6,501

5.2 6.0
6.5 7.3
7.8 8.1
8.5 8.8
9.3 9.7
10.7 11.9
13.2 14.6
16.3 18.1
20.0 22.3
24.7 27.4
30.5 33.6
37.3 41.3
45.9 50.9
 10.7 11.9
13.2 14.6
16.3 18.1
20.0 22.3
24.7 27.4
30.5 33.6
37.3 41.3
45.9 50.9
56.6 62.9
69.7

.2 .3 .0 .7 .5 .3 .9 .6 .7
13 16 20 24 30 37 45 56 69

l Eth staking (M)

 Parameter Value Explanation
general assumptions: tx fee/block 0.5 Total fees in Eth including base fee and tip.
(change if you disagree) tip ratio 21% The percentage of fees that is the tip. ~21%
Flashbots blocks 80% The ratio of blocks that extract MEV via Fla
MEV/FB block 0.1 Eth MEV that is extracted with each Flashb
merge date 1.6.2022 Expected day of the the Eth1&Eth2 merger
pre merge block time 13.1 Seconds, average blocktime before the me
personal assumptions: validators owned 1 Number of full validators that you operate. 3
(adjust to match your situation) tax rate 0% % taxes paid on validator income.
commission 0% % of rewards kept by potential staking serv
income required for living $2,500.00 How much you need to make a living each

calculated values: Parameter Value Explanation

MEV/Block 0.08 effective average Eth MEV per block
tip/block 0.105 Eth per Block from tips

other assumptions: 99% personal validator & network uptime

Rewards are [base reward * 1,000,000/number total validators] when
Modified model: number of new validator activations per day with cus
Calculation of validator count is approximate. Tricky to get exact, as
12 s block time after the merge
churn limit 65,536 (validator activation)

The timeline shown here only works under the assumption of the provided
Block proposals are random and the frequency values presented are avera

date/month 1.6.2021 1.7.2021 1.8.2021 1.9.2021 1.10.2021

merged? no no no no no
total validators 162,919 187,587 202,352 227,492 244,185
average validator activations per day 822 476 811 556
total Eth staking (million) 5.2 6.0 6.5 7.3 7.8
blocks/month 197,863 204,458 204,458 197,863 204,458
av. block proposal frequency/month 1.21 1.09 1.01 0.87 0.84
tip + MEV (Eth) 0.000 0.000 0.000 0.000 0.000
attestation + propsal reward (Eth) 0.190 0.177 0.170 0.161 0.155
total reward (Eth) 0.190 0.177 0.170 0.161 0.155
MPY 0.59% 0.55% 0.53% 0.50% 0.48%
APY 7.12% 6.64% 6.39% 6.03% 5.82%

Ether price monthly fiat earnings vs. total Ether staked (million)
5.2 6.0 6.5 7.3 7.8
$1,000 $190 $177 $170 $161 $155
 $1,500 $285 $265 $256 $241 $233
$2,000 $380 $354 $341 $321 $310
$3,000 $570 $531 $511 $482 $465
$4,000 $760 $708 $682 $643 $620
$5,000 $950 $885 $852 $804 $776
$6,000 $1,140 $1,062 $1,022 $964 $931
$7,000 $1,329 $1,239 $1,193 $1,125 $1,086
$8,000 $1,519 $1,416 $1,363 $1,286 $1,241
$9,000 $1,709 $1,593 $1,534 $1,446 $1,396
$10,000 $1,899 $1,770 $1,704 $1,607 $1,551
$12,000 $2,279 $2,124 $2,045 $1,928 $1,861
$14,000 $2,659 $2,478 $2,386 $2,250 $2,172
$16,000 $3,039 $2,832 $2,726 $2,571 $2,482
$18,000 $3,419 $3,186 $3,067 $2,893 $2,792
$20,000 $3,798 $3,540 $3,408 $3,214 $3,102
$22,500 $4,273 $3,982 $3,834 $3,616 $3,490
$25,000 $4,748 $4,425 $4,260 $4,018 $3,878
$27,500 $5,223 $4,867 $4,686 $4,419 $4,266
$30,000 $5,698 $5,310 $5,112 $4,821 $4,653
$35,000 $6,647 $6,194 $5,964 $5,625 $5,429
$40,000 $7,597 $7,079 $6,816 $6,428 $6,204
$45,000 $8,546 $7,964 $7,668 $7,232 $6,980
$50,000 $9,496 $8,849 $8,520 $8,035 $7,756
$60,000 $11,395 $10,619 $10,224 $9,642 $9,307
$70,000 $13,294 $12,389 $11,928 $11,249 $10,858
$80,000 $15,193 $14,159 $13,632 $12,856 $12,409
$90,000 $17,093 $15,929 $15,336 $14,463 $13,960
$100,000 $18,992 $17,698 $17,040 $16,070 $15,511
$120,000 $22,790 $21,238 $20,448 $19,285 $18,613
$140,000 $26,588 $24,778 $23,856 $22,499 $21,716
$160,000 $30,387 $28,317 $27,264 $25,713 $24,818
$180,000 $34,185 $31,857 $30,672 $28,927 $27,920
$200,000 $37,984 $35,397 $34,080 $32,141 $31,022

Monthly Fiat
$14,000

$12,000

$10,000
Monthly Fiat Returns

$8,000

$6,000

$4,000
Monthly Fiat Returns
$8,000

$6,000

$4,000

$2,000

$0
0 0 0 0 0 0 0 0
, 00 , 50 , 00 , 00 , 00 , 00 , 00 , 00
$1 $1 $2 $3 $4 $5 $6 $7 $

Monthly Fiat Retur

$100,000

$90,000

$80,000

$70,000

$60,000
Monthly Fiat Returns

$50,000

$40,000

$30,000

$20,000

$10,000

$0
00 00 00 00 00 00 00 00 00 00
1,0 1,5 2,0 3,0 4,0 5,0 6,0 7,0 8,0 9,0
$ $ $ $ $ $ $ $ $ $
$10,000

$0
0 0 0 0 0 0 0 0 0 0
, 00 , 50 , 00 , 00 , 00 , 00 , 00 , 00 , 00 , 00
$1 $1 $2 $3 $4 $5 $6 $7 $8 $9
n Eth including base fee and tip. Highly dependent on block space demand. https://bitinfocharts.com/ethereum/
tage of fees that is the tip. ~21% in first two months after EIP1559.
blocks that extract MEV via Flashbots. Currently around 60%, probably trending up.
at is extracted with each Flashbots block. https://explore.flashbots.net/
ay of the the Eth1&Eth2 merger.
verage blocktime before the merge. https://etherscan.io/chart/blocktime
full validators that you operate. 32 Eth staked = 1 validator. Fractions possible.
id on validator income.
ds kept by potential staking service provider (e.g. 15%)
you need to make a living each month (after taxes and fees).

erage Eth MEV per block

ck from tips

00/number total validators] when there are more than 1,000,000 validators (current proposal: "sleeping" validator rotation).
ator activations per day with custom values. Actual activation rate has proven to be lower than maximum.
oximate. Tricky to get exact, as the formula is recursive and activation rate changes slightly every epoch.

e assumption of the provided custom validator activation rate (and no exits)! Number may fluctuate over time.
cy values presented are averages. There is luck involved and you may not get any block proposals with their associated rewards

1.11.2021 1.12.2021 1.1.2022 1.2.2022 1.3.2022 1.4.2022 1.5.2022 1.6.2022 1.7.2022 1.8.2022 1.9.2022
no no no no no no no yes yes yes yes
252,762 264,205 275,830 289,571 301,597 314,912 329,912 346,962 364,962 383,562 402,162
277 381 375 443 430 500 550 600 600 600 600
8.1 8.5 8.8 9.3 9.7 10.1 10.6 11.1 11.7 12.3 12.9
197,863 204,458 204,458 184,672 204,458 197,863 204,458 216,000 223,200 223,200 216,000
0.78 0.77 0.74 0.64 0.68 0.63 0.62 0.62 0.61 0.58 0.54
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.115 0.113 0.108 0.099
0.152 0.149 0.146 0.142 0.140 0.137 0.133 0.130 0.127 0.124 0.121
0.152 0.149 0.146 0.142 0.140 0.137 0.133 0.245 0.240 0.231 0.220
0.48% 0.47% 0.46% 0.45% 0.44% 0.43% 0.42% 0.77% 0.75% 0.72% 0.69%
5.72% 5.59% 5.47% 5.34% 5.23% 5.12% 5.00% 9.20% 9.00% 8.68% 8.26%

8.1 8.5 8.8 9.3 9.7 10.1 10.6 11.1 11.7 12.3 12.9
$152 $149 $146 $142 $140 $137 $133 $245 $240 $231 $220
 $229 $224 $219 $214 $209 $205 $200 $368 $360 $347 $330
$305 $298 $292 $285 $279 $273 $267 $491 $480 $463 $440
$457 $447 $438 $427 $419 $410 $400 $736 $720 $694 $661
$610 $596 $584 $570 $558 $546 $534 $981 $960 $926 $881
$762 $746 $730 $712 $698 $683 $667 $1,226 $1,200 $1,157 $1,101
$915 $895 $876 $855 $837 $819 $801 $1,472 $1,440 $1,388 $1,321
$1,067 $1,044 $1,022 $997 $977 $956 $934 $1,717 $1,680 $1,620 $1,541
$1,220 $1,193 $1,168 $1,139 $1,116 $1,093 $1,067 $1,962 $1,920 $1,851 $1,762
$1,372 $1,342 $1,313 $1,282 $1,256 $1,229 $1,201 $2,208 $2,160 $2,083 $1,982
$1,525 $1,491 $1,459 $1,424 $1,396 $1,366 $1,334 $2,453 $2,400 $2,314 $2,202
$1,829 $1,789 $1,751 $1,709 $1,675 $1,639 $1,601 $2,943 $2,880 $2,777 $2,643
$2,134 $2,088 $2,043 $1,994 $1,954 $1,912 $1,868 $3,434 $3,360 $3,240 $3,083
$2,439 $2,386 $2,335 $2,279 $2,233 $2,185 $2,135 $3,925 $3,840 $3,702 $3,523
$2,744 $2,684 $2,627 $2,564 $2,512 $2,458 $2,402 $4,415 $4,320 $4,165 $3,964
$3,049 $2,982 $2,919 $2,849 $2,791 $2,732 $2,669 $4,906 $4,800 $4,628 $4,404
$3,430 $3,355 $3,284 $3,205 $3,140 $3,073 $3,002 $5,519 $5,400 $5,207 $4,955
$3,811 $3,728 $3,648 $3,561 $3,489 $3,414 $3,336 $6,132 $6,000 $5,785 $5,505
$4,193 $4,101 $4,013 $3,917 $3,838 $3,756 $3,669 $6,745 $6,600 $6,364 $6,056
$4,574 $4,473 $4,378 $4,273 $4,187 $4,097 $4,003 $7,359 $7,200 $6,942 $6,606
$5,336 $5,219 $5,108 $4,985 $4,885 $4,780 $4,670 $8,585 $8,400 $8,099 $7,707
$6,098 $5,965 $5,838 $5,697 $5,582 $5,463 $5,337 $9,811 $9,600 $9,256 $8,808
$6,860 $6,710 $6,567 $6,409 $6,280 $6,146 $6,005 $11,038 $10,800 $10,413 $9,910
$7,623 $7,456 $7,297 $7,122 $6,978 $6,829 $6,672 $12,264 $12,000 $11,570 $11,011
$9,147 $8,947 $8,756 $8,546 $8,374 $8,195 $8,006 $14,717 $14,400 $13,884 $13,213
$10,672 $10,438 $10,216 $9,970 $9,769 $9,560 $9,340 $17,170 $16,800 $16,198 $15,415
$12,196 $11,929 $11,675 $11,395 $11,165 $10,926 $10,675 $19,623 $19,200 $18,512 $17,617
$13,721 $13,420 $13,134 $12,819 $12,561 $12,292 $12,009 $22,076 $21,600 $20,826 $19,819
$15,246 $14,912 $14,594 $14,243 $13,956 $13,658 $13,343 $24,528 $24,000 $23,140 $22,021
$18,295 $17,894 $17,513 $17,092 $16,747 $16,389 $16,012 $29,434 $28,800 $27,768 $26,425
$21,344 $20,876 $20,431 $19,940 $19,539 $19,121 $18,681 $34,340 $33,600 $32,396 $30,830
$24,393 $23,859 $23,350 $22,789 $22,330 $21,852 $21,350 $39,245 $38,400 $37,024 $35,234
$27,442 $26,841 $26,269 $25,638 $25,121 $24,584 $24,018 $44,151 $43,201 $41,652 $39,638
$30,491 $29,823 $29,188 $28,486 $27,912 $27,315 $26,687 $49,057 $48,001 $46,280 $44,042

Monthly Fiat Returns vs. Ether Price and Total Ether Staked
 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
, 00 , 00 , 00 00 , 00 , 00 , 00 00 , 00 00 , 00 , 00 , 50 , 00 , 50 , 00 , 00 00 0
$4 $5 $6 $7
,
$8 $9 0 2, 4 6, 8 0 2 5 7 0 5 0, 5,
$1 $1 $1 $1 $1 $2 $2 $2 $2 $3 $3 $4 $4

Ether Price

Monthly Fiat Returns vs. Ether Price and Total Ether Staked - Log Chart

00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00
5,0 6,0 7,0 8,0 9,0 0,0 2,0 4,0 6,0 8,0 0,0 2,5 5,0 7,5 0,0 5,0 0,0 5,0 0,0 0,0 0,0 0,0
$ $ $ $ $ $1 $1 $1 $1 $1 $2 $2 $2 $2 $3 $3 $4 $4 $5 $6 $7 $8 $9

Ether Price
00 00
0
00
0
00
0
00
0
00
0
00
0
00
0
00
0
00
0
00
0
00
0
50
0
00
0
50
0
00
0
00
0
00
0
00
0
00
0
00
0
00
0
00
0
, , , , , , , , , , , , , , , , , , , , , ,
$5 $6 $7 $8 $9 $1
0
$1
2
$1
4
$1
6
$1
8
$2
0
$2
2
$2
5
$2
7
$3
0
$3
5
$4
0
$4
5
$5
0
$6
0
$7
0
$8
0
$9

Ether Price
alidator rotation).

e over time.
s with their associated rewards in a given time frame! On the other hand, you may get more at times.

1.10.2022 ### 1.12.2022 1.1.2023 1.2.2023 1.3.2023 1.4.2023 1.5.2023 1.6.2023 1.7.2023
yes yes yes yes yes yes yes yes yes yes
420,162 438,762 456,762 475,362 493,962 510,762 529,362 547,362 565,962 583,962
600 600 600 600 600 600 600 600 600 600
13.4 14.0 14.6 15.2 15.8 16.3 16.9 17.5 18.1 18.7
223,200 216,000 223,200 223,200 201,600 223,200 216,000 223,200 216,000 223,200
0.53 0.49 0.49 0.47 0.41 0.44 0.41 0.41 0.38 0.38
0.098 0.091 0.090 0.087 0.076 0.081 0.075 0.075 0.071 0.071
0.118 0.116 0.113 0.111 0.109 0.107 0.105 0.104 0.102 0.100
0.217 0.207 0.204 0.198 0.185 0.188 0.181 0.179 0.172 0.171
0.68% 0.65% 0.64% 0.62% 0.58% 0.59% 0.57% 0.56% 0.54% 0.53%
8.12% 7.75% 7.64% 7.43% 6.92% 7.05% 6.78% 6.71% 6.47% 6.41%

13.4 14.0 14.6 15.2 15.8 16.3 16.9 17.5 18.1 18.7
$217 $207 $204 $198 $185 $188 $181 $179 $172 $171
 $325 $310 $306 $297 $277 $282 $271 $269 $259 $256
$433 $414 $408 $396 $369 $376 $362 $358 $345 $342
$650 $620 $611 $594 $554 $564 $542 $537 $517 $513
$866 $827 $815 $792 $738 $752 $723 $716 $690 $684
$1,083 $1,034 $1,019 $990 $923 $940 $904 $895 $862 $855
$1,299 $1,241 $1,223 $1,188 $1,107 $1,128 $1,085 $1,074 $1,035 $1,026
$1,516 $1,447 $1,427 $1,386 $1,292 $1,317 $1,266 $1,253 $1,207 $1,197
$1,732 $1,654 $1,630 $1,584 $1,476 $1,505 $1,447 $1,432 $1,380 $1,368
$1,949 $1,861 $1,834 $1,782 $1,661 $1,693 $1,627 $1,611 $1,552 $1,539
$2,165 $2,068 $2,038 $1,980 $1,845 $1,881 $1,808 $1,790 $1,725 $1,710
$2,598 $2,481 $2,446 $2,376 $2,214 $2,257 $2,170 $2,148 $2,070 $2,052
$3,031 $2,895 $2,853 $2,772 $2,584 $2,633 $2,531 $2,506 $2,415 $2,394
$3,464 $3,308 $3,261 $3,168 $2,953 $3,009 $2,893 $2,864 $2,759 $2,736
$3,897 $3,722 $3,668 $3,564 $3,322 $3,385 $3,255 $3,222 $3,104 $3,078
$4,330 $4,135 $4,076 $3,960 $3,691 $3,761 $3,616 $3,580 $3,449 $3,420
$4,871 $4,652 $4,585 $4,455 $4,152 $4,232 $4,068 $4,028 $3,881 $3,847
$5,413 $5,169 $5,095 $4,950 $4,614 $4,702 $4,520 $4,475 $4,312 $4,275
$5,954 $5,686 $5,604 $5,445 $5,075 $5,172 $4,972 $4,923 $4,743 $4,702
$6,495 $6,203 $6,114 $5,940 $5,536 $5,642 $5,424 $5,371 $5,174 $5,130
$7,578 $7,237 $7,133 $6,931 $6,459 $6,583 $6,328 $6,266 $6,036 $5,985
$8,660 $8,271 $8,152 $7,921 $7,382 $7,523 $7,233 $7,161 $6,899 $6,840
$9,743 $9,305 $9,171 $8,911 $8,304 $8,463 $8,137 $8,056 $7,761 $7,694
$10,825 $10,339 $10,190 $9,901 $9,227 $9,404 $9,041 $8,951 $8,623 $8,549
$12,990 $12,406 $12,228 $11,881 $11,072 $11,284 $10,849 $10,741 $10,348 $10,259
$15,156 $14,474 $14,266 $13,861 $12,918 $13,165 $12,657 $12,531 $12,073 $11,969
$17,321 $16,542 $16,304 $15,841 $14,763 $15,046 $14,465 $14,321 $13,797 $13,679
$19,486 $18,609 $18,341 $17,821 $16,609 $16,926 $16,273 $16,112 $15,522 $15,389
$21,651 $20,677 $20,379 $19,802 $18,454 $18,807 $18,081 $17,902 $17,247 $17,099
$25,981 $24,813 $24,455 $23,762 $22,145 $22,569 $21,698 $21,482 $20,696 $20,519
$30,311 $28,948 $28,531 $27,722 $25,836 $26,330 $25,314 $25,062 $24,145 $23,938
$34,641 $33,083 $32,607 $31,682 $29,527 $30,091 $28,930 $28,643 $27,595 $27,358
$38,971 $37,219 $36,683 $35,643 $33,217 $33,853 $32,546 $32,223 $31,044 $30,778
$43,301 $41,354 $40,759 $39,603 $36,908 $37,614 $36,163 $35,803 $34,493 $34,198

Staked APY und total Eth staking (M

10.00%

5.00%
APY

10.4 M Eth
21.5 M Eth
32.7 M Eth
44.8 M Eth
60.8 M Eth
 5.00%

APY
10.4 M Eth
21.5 M Eth
32.7 M Eth
44.8 M Eth
60.8 M Eth

0.00%
2 5 8 5 3 .1 .1 .3 .4 .6 .8
5. 6. 7. 8. 9. 10 11 12 13 14 15 16

total Eth staking (M)

0 0 0 0 0 0
, 50 , 00 , 00 , 00 , 00 , 00
7 0 5 0 5 0
$2 $3 $3 $4 $4 $5

d - Log Chart

10.4 M Eth
21.5 M Eth
32.7 M Eth
44.8 M Eth
60.8 M Eth

00 00 00 00 00 00 00
5,0 0,0 0,0 0,0 0,0 0,0 0,0
$4 $5 $6 $7 $8 $9 $1
0
 0 0 0 0 0 0 0
, 00 , 00 , 00 , 00 , 00 , 00 , 00
5 0 0 0 0 0 00
$4 $5 $6 $7 $8 $9 $1
1.8.2023 1.9.2023 1.10.2023 ###
yes yes yes
602,562 621,162 639,162
600 600 600
19.3 19.9 20.5
223,200 216,000 223,200
0.37 0.35 0.35
0.069 0.064 0.065
0.099 0.097 0.096
0.167 0.162 0.160
0.52% 0.50% 0.50%
6.27% 6.06% 6.02%

19.3 19.9 20.5

$167 $162 $160
 $251 $242 $241
$334 $323 $321
$502 $485 $481
$669 $646 $642
$836 $808 $802
$1,003 $969 $963
$1,171 $1,131 $1,123
$1,338 $1,292 $1,284
$1,505 $1,454 $1,444
$1,672 $1,616 $1,605
$2,007 $1,939 $1,925
$2,341 $2,262 $2,246
$2,676 $2,585 $2,567
$3,010 $2,908 $2,888
$3,345 $3,231 $3,209
$3,763 $3,635 $3,610
$4,181 $4,039 $4,011
$4,599 $4,443 $4,412
$5,017 $4,847 $4,814
$5,854 $5,655 $5,616
$6,690 $6,462 $6,418
$7,526 $7,270 $7,220
$8,362 $8,078 $8,023
$10,035 $9,694 $9,627
$11,707 $11,309 $11,232
$13,380 $12,925 $12,836
$15,052 $14,540 $14,441
$16,725 $16,156 $16,045
$20,069 $19,387 $19,254
$23,414 $22,618 $22,463
$26,759 $25,849 $25,672
$30,104 $29,081 $28,881
$33,449 $32,312 $32,090

d total Eth staking (M)

5.2 6.0
6.5 7.3
7.8 8.1
8.5 8.8
9.3 9.7
10.1 10.6
11.1 11.7
12.3 12.9
13.4 14.0
14.6 15.2
15.8 16.3
16.9 17.5
18.1 18.7
19.3 19.9
 11.1 11.7
12.3 12.9
13.4 14.0
14.6 15.2
15.8 16.3
16.9 17.5
18.1 18.7
19.3 19.9
20.5

.1 .3 .4 .6 .8 .9 .1 .3 .5
11 12 13 14 15 16 18 19 20

l Eth staking (M)

IN CONCLUSION THE FINAL WORTH OF PHOENIX CAPITAL(NAME RIGHTS TO LEO (AND HE MADE ME WRITE THIS))

WE ARE FUCKING RICH GUYS, THANKS FOR THE 2.5 YEARS, CIAO FROM STEVE THE FUCKER
3020000 usd