tags. We'll translate each part.
First paragraph: "A new Ethereum proposal would gradually reduce ETH issuance to zero if the total value of staked Ether reaches $112 billion. The plan is designed to curb staking concentration and protect the network's long-term economic health."
Translation: "Cadangan Ethereum baharu akan mengurangkan terbitan ETH secara beransur-ansur kepada sifar jika jumlah nilai Ether yang dipertaruhkan mencapai $112 bilion. Pelan ini direka untuk membendung penumpuan pertaruhan dan melindungi kesihatan ekonomi jangka panjang rangkaian."
We need to ensure "staked Ether" is "Ether yang dipertaruhkan" or "Ether yang dikunci". "Staking concentration" - "penumpuan pertaruhan" or "konsentrasi pertaruhan". "Network's long-term economic health" - "kesihatan ekonomi jangka panjang rangkaian".
Second paragraph: "Staking on Ethereum has grown rapidly since the Merge. More than 30 million ETH is now locked in the deposit contract, worth well over $100 billion at current prices. That growth has raised alarms about centralization. A handful of large staking pools and liquid staking protocols now control a significant share of the validator set. The proposal's authors argue that if left unchecked, concentrated staking power could undermine the network's security and neutrality. Cutting issuance to zero would remove the economic incentive for further accumulation, they say."
Translation: "Pertaruhan di Ethereum telah berkembang pesat sejak Merge. Lebih daripada 30 juta ETH kini dikunci dalam kontrak deposit, bernilai lebih daripada $100 bilion pada harga semasa. Pertumbuhan itu telah menimbulkan kebimbangan tentang pemusatan. Sebilangan kecil kolam pertaruhan besar dan protokol pertaruhan cecair kini mengawal bahagian penting set pengesah. Penulis cadangan berhujah bahawa jika tidak dikawal, kuasa pertaruhan yang tertumpu boleh menjejaskan keselamatan dan neutraliti rangkaian. Mengurangkan terbitan kepada sifar akan menghapuskan insentif ekonomi untuk pengumpulan selanjutnya, kata mereka."
We need to keep "Merge" as is (proper noun). "deposit contract" - "kontrak deposit". "validator set" - "set pengesah". "staking pools" - "kolam pertaruhan". "liquid staking protocols" - "protokol pertaruhan cecair". "centralization" - "pemusatan". "undermine" - "menjejaskan". "neutrality" - "neutraliti". "accumulation" - "pengumpulan".
Third paragraph: "The proposal doesn't call for an immediate halt to new ETH. Instead, it outlines a progressive reduction in issuance as the staked supply approaches the $112 billion threshold. The exact mechanism and timeline are still being debated, but the goal is clear: once staked Ether hits that mark, no new ETH would be minted from staking rewards. That would effectively cap the total supply of staked ETH and force validators to compete on fees rather than rely on inflationary rewards."
Translation: "Cadangan itu tidak meminta penghentian segera ETH baharu. Sebaliknya, ia menggariskan pengurangan terbitan secara progresif apabila bekalan yang dipertaruhkan menghampiri ambang $112 bilion. Mekanisme dan garis masa yang tepat masih dibahaskan, tetapi matlamatnya jelas: sebaik sahaja Ether yang dipertaruhkan mencapai tahap itu, tiada ETH baharu akan ditempa daripada ganjaran pertaruhan. Ini akan mengehadkan jumlah bekalan ETH yang dipertaruhkan dan memaksa pengesah untuk bersaing pada yuran dan bukannya bergantung pada ganjaran inflasi."
We need to translate "halt" - "penghentian". "progressive reduction" - "pengurangan secara progresif". "threshold" - "ambang". "minted" - "ditempa". "cap" - "mengehadkan" or "menetapkan had". "inflationary rewards" - "ganjaran inflasi".
Fourth paragraph: "The proposal is now circulating among Ethereum developers and the broader community. It will likely go through the Ethereum Improvement Proposal process, which includes review, testing, and a final decision by core developers. No timeline has been set. The idea is certain to spark debate. Validators who rely on staking rewards may push back, while those worried about centralization will likely support it. Whether the community can reach consensus on such a fundamental change to Ethereum's monetary policy remains an open question."
Translation: "Cadangan itu kini beredar di kalangan pembangun Ethereum dan komuniti yang lebih luas. Ia mungkin akan melalui proses Cadangan Penambahbaikan Ethereum, yang merangkumi semakan, ujian, dan keputusan akhir oleh pembangun teras. Tiada garis masa telah ditetapkan. Idea ini pasti akan mencetuskan perdebatan. Pengesah yang bergantung pada ganjaran pertaruhan mungkin menolak, manakala mereka yang bimbang tentang pemusatan mungkin menyokongnya. Sama ada komuniti boleh mencapai konsensus mengenai perubahan asas kepada dasar monetari Ethereum masih menjadi persoalan terbuka."
We need to keep "Ethereum Improvement Proposal" as is? It's a proper noun, but we can translate "Cadangan Penambahbaikan Ethereum" but often it's kept as EIP. But the instruction says keep proper nouns in original form. So we should keep "Ethereum Improvement Proposal" as is, or maybe "EIP" but the text says "Ethereum Improvement Proposal process" - we can keep it as "proses Cadangan Penambahbaikan Ethereum" but that's a translation. Actually, it's a specific process, so we can keep "Ethereum Improvement Proposal" in English. But the instruction says "Keep proper nouns (names, company names) in original form" - so we keep "Ethereum" and "Ethereum Improvement Proposal" as is. So we'll write "proses Ethereum Improvement Proposal" or "proses Cadangan Penambahbaikan Ethereum" - but to be safe, we'll keep the English term. However, the instruction says "Translate naturally" - so we can translate the description but keep the name. I think it's fine to say "proses Ethereum Improvement Proposal" but that might be awkward. Alternatively, we can say "proses Cadangan Penambahbaikan Ethereum" but that's a translation. Since it's a proper noun, we'll keep it as "Ethereum Improvement Proposal" and add "proses" before it. So: "Ia mungkin akan melalui proses Ethereum Improvement Proposal, yang merangkumi semakan, ujian, dan keputusan akhir oleh pembangun teras." That's fine.
Also "core developers" - "pembangun teras". "push back" - "menolak" or "menentang". "monetary policy" - "dasar monetari". "open question" - "persoalan terbuka".
Now meta description: "A new Ethereum proposal would reduce ETH issuance to zero if staked Ether reaches $112 billion, aiming to curb staking concentration and protect network health."
Translation: "Cadangan Ethereum baharu akan mengurangkan terbit
