Vitalik Buterin wrote that, rather than relying on transaction fee burns to support its valuation, ETH should place greater emphasis on its store-of-value (SoV) properties. He believes that valuation support from fee burns is not robust, and that an excessive focus on burn revenue could encourage Ethereum to maintain high gas fees and increase protocol governance intervention, thereby undermining decentralization and censorship resistance. By contrast, positioning ETH as a store of value better reflects Ethereum’s strengths in censorship resistance, privacy, security, and long-term stability. Vitalik stressed that EIP-1559 and its burn mechanism should be retained, but even if fee burns remain below 10% of new ETH issuance over the long term, this should not be considered a problem; ETH’s value should come from other sources.