Hi, long-time (multi-)staker and Reserve-believer here. As already posted on The Lodge, I have decided to unstake from eUSD (and USD3 and ETH+) recently (left a smaller portion in place for eUSD and USD3 to be able to continue to vote/govern). I’ll focus on the dollar-pegged RTokens/Yield DTFs here - and mostly from a simple staker perspective. There reason I unstaked is actually - unwillingly - evidenced by this Quarterly Report. It is very much ‘operational’ and ‘observation-based’. What I mean by that is that it seems all effort is in ‘running’ eUSD from an operational perspective and monitoring what is happening with it in the marketplace. I hardly see any evidence of actually ‘selling’ the strong proposition of overcollaterized, 1:1 asset-backed, highly safe/secure dollar-pegged DTFs. As a result, a potentially very strong proposition stalls on a mere $20-25M for eUSD for more than two years already. During that time the yield for stakers has declined to returns that (for me) does not justify risking my staked RSR. The risk of a depeg, granted, is relatively small for dollar-pegged stablecoins, but unfavorable governance actions have resulted in significant slashings in the past nonetheless. And, the worst thing, I don’t see this improving either. With no real focus on MCAP growth by new parties and with having to hand-over ever-greater parts of staking yield to FinTechs when they bring on new MCAP (effectively neutralizing the staking yield increase that would otherwise be the result from higher MCAP), there simply is a lack of ‘flywheel-potential’: (seriously) high MCAP should lead to (very) high staking yields, this should lead to more RSR being locked (reducing the yield again a bit) and likely positive effects on price. This all does not happen if MCAP is going nowhere and/or staking yield is limited by handing over large(r) portions of the yield to fintechs. This needs to change. eUSD deserves (much) stronger ‘business development’ and growth focus.