Live Recording of the Bankless Podcast at SmartCon
summary
London hard fork deploys EIP‑1559 and immediately starts burning fees, with ~2,000 ETH burned in six hours as on‑chain dashboards show; the upgrade replaces auction gas pricing with a base fee burn, changing demand-to-supply flows and delivering roughly a 30% reduction in miner sell pressure from fees. Panelists map this to a roadmap that includes the merge to proof‑of‑stake, argue the change makes ETH a more scarce, programmatic collateral asset, and flag NFT gas‑auction mechanics as the real cause of recent fee spikes.
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