Scoping: Model phases

[BenSchZA]

The current hypothesis is that we will not implement phases, and will instead make the assumption that the model is operating post-merge.

The following mechanisms affect validator yield economics, and are implemented in phases:

• EIP1559 implemented (only rewards Eth1 miners until phase 2)
• Transactions being enabled in phase 2 (EIP1559 rewards both Eth1 miners and Eth2 validators)
• Supply inflation - PoW block rewards gradually decrease (big assumption, under current network conditions?):

See https://docs.ethhub.io/ethereum-roadmap/ethereum-2.0/eth-2.0-phases/

In Phase 0, 1, and 2 the main PoW chain (Eth1) will remain live while testing and transitioning is happening on the Eth2 chain. This means that rewards will be paid to both Ethereum 2.0 validators as well as the normal PoW block rewards. Therefore, the combined inflation of the two chains may spike initially but then start to trend towards the 0-1% range as the PoW chain is gradually de-emphasized.

[BenSchZA]

To reconsider post Barnabe's summary. Make decision to operate post-merge.

[BenSchZA]

Defn. merge: Eth1 shard integrated, and block rewards disabled.