Pectra-2 hits devnet — what is actually in the upgrade

EOF tooling, validator consolidation tier-2, and the EIP-7251 follow-up. Pectra-2 is a smaller upgrade than Pectra but a more interesting one.

Ethereum Pectra-2 hit devnet this week. The proposal set: EOF tooling for the EVM, validator consolidation tier-2 (consolidating up to 64 validators per node operator), and the EIP-7251 follow-up that lets exits below the threshold complete instantly. Smaller upgrade than Pectra by line count; more interesting in operator economics.

The validator consolidation impact is the structural read. Tier-2 cuts node operator infra costs by 28-35% at scale. That cost saving flows into staking yield calculations and changes the economics of the staking pool tier. Lido and Coinbase staking yields could compress further as the operator margin improves.