Those stakers running Geth today likely don’t fully understand the risk associated with running a supermajority execution client. Many incorrectly assume that in the event of a bug, a patch will be released in a few hours that will solve the issue, losing very little ETH in the process.
Many are not aware of the risk of attesting an invalid block which locks you into the invalid finalised chain, all but guaranteeing a majority of your ETH being burned. This is a real risk that has the potential to materialise.
Staked ETH is not risk-free yield. Would you invest a minimum of $75,000 USD into an instrument where the maximum potential gain is 3.5% p.a. but the potential for loss is 100% (even if that loss is unlikely)? Probably not, but this is what 84% of the Ethereum stakers are doing today.
By switching to a minority client (assuming the same bug is not present across multiple clients) you can limit your maximum possible loss to 3.5% p.a..
With this knowledge, it seems crazy that anyone is still running Geth whilst it holds a supermajority. I can only assume that those running Geth don’t fully understand this risk.
Please share this article to help educate the ecosystem on the risks of running a supermajority client.
If you are running a validator with Geth, switch today!
If you hold an LST (e.g. stETH, cbETH, etc…) and the LST runs Geth on their validators, understand that your ETH is at risk and consider unstaking or switching to another LST until Geth no longer has a supermajority.