ETH staking yield is now 2.9% as validator count keeps climbing. What this means for LST issuers, Pendle, and Lido.
Lena Kovacs Verified
Senior Reporter, Protocols
Lena covers Layer-1 and Layer-2 protocols, validator economics, restaking, and on-chain governance. A former Ethereum core contributor, she reads EIPs in her free time and is one of TheWeal's strongest technical writers. Her investigative work on a major staking pool's validator-set centralisation prompted the project to publish a remediation plan.
Verified February 2026 · TheWeal Editorial — Identity verified; GitHub activity cross-referenced
- Layer-1 + Layer-2 protocols
- Ethereum core development
- Staking + restaking economics
- On-chain governance
- Protocol security
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TU Munich 2020MSc Computer Science
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ETH Zurich 2018BSc Computer Science
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Independent (consultancy) 2023u20132026Protocol Researcher
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Ethereum Foundation 2021u20132023Core dev contributor
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Boson Protocol 2020u20132021Engineer
- CryptoCurrency Security Standard (CCSS) Auditor u2014 2024
- EthBerlin best-in-show 2022 (research project)
- Messari Crypto Theses author 2024 (guest)
- Devcon SEA (2024) — talk, validator centralisation risks
- EthCC Paris (2023) — workshop, MEV-resilient validator design
Holds long-term positions in ETH and a small basket of L2 tokens, disclosed in full. Recuses herself from coverage of any project where she has held a position in the last 12 months. No paid promotional content. No advisory roles.
By Lena Kovacs
4 articles published on TheWeal.
Solana hit 2,000 active validators this quarter. Nakamoto coefficient, geographic distribution, and what still concerns the critics.
We mapped 40 AI-crypto projects by GitHub commits, TVL, and active users. The five names with the largest ship-vs-tweet gap.
EIP-4844 compressed blob fees, but the L2 cost curve has plateaued. Here is how Base, Arbitrum, Optimism, and zkSync compare today.
Story tips, source intros, comment requests
Lena can be reached at lena@theweal.com. For Signal contact details, use email first — Signal numbers are exchanged after initial vetting. Pitches that are off-topic for Senior Reporter, Protocols coverage will not receive replies.