Merge pull request #8443 from ethereum/merge-issuance-patch

Merge-related ETH issuance page adjustments

Author: corwintines

src/content/upgrades/merge/issuance/index.md

@@ -22,7 +22,7 @@ title="ETH issuance tldr">
 - Stakers are issued approximately 1,700 ETH/day, based on about 14 million total ETH staked
 - The exact staking issuance fluctuates based on the total amount of ETH staked
 - **Since The Merge, only the ~1,700 ETH/day remains, dropping total new ETH issuance by ~88%**
-- The burn: This fluctuate according to network demand. _If_ an average gas price of at least 17 gwei is observed for a given day, this effectively offsets the ~1,700 ETH that is issued to validators and brings net ETH inflation to zero or less for that day.
+- The burn: This fluctuate according to network demand. _If_ an average gas price of at least 16 gwei is observed for a given day, this effectively offsets the ~1,700 ETH that is issued to validators and brings net ETH inflation to zero or less for that day.
 
 </Card>
 
@@ -40,8 +40,6 @@ Validators on the Beacon Chain are rewarded with ETH for attesting to the state
 
 ### Pre-merge issuance breakdown {#pre-merge-issuance-breakdown}
 
-<!-- Total ETH supply: **~119,300,000 ETH** (as of Q2 2022, prior to The Merge) -->
-
 Total ETH supply: **~120,520,000 ETH** (at time of The Merge in September 2022)
 
 **Execution layer issuance:**
@@ -101,18 +99,19 @@ On top of the fee burn implemented by the London upgrade, validators can also in
 
 As discussed above, the amount of ETH issued in a given day is dependent upon the total ETH staked. At time of writing, this is approximately 1700 ETH/day.
 
-To determine the average gas price required to completely offset this issuance in a given 24-hour period, we'll start by calculating the total number of blocks in a day:
+To determine the average gas price required to completely offset this issuance in a given 24-hour period, we'll start by calculating the total number of blocks in a day, given a block time of 12 seconds:
 
-- `1 block / 12 seconds = 5 blocks/minute`
-- `(5 blocks/minute) * (60 minutes/hour) * (24 hours/day) = 7200 blocks/day`
+- `(1 block / 12 seconds) * (60 seconds/minute) = 5 blocks/minute`
+- `(5 blocks/minute) * (60 minutes/hour) = 300 blocks/hour`
+- `(300 blocks/hour) * (24 hours/day) = 7200 blocks/day`
 
 Each block targets `15x10^6 gas/block` ([more on gas](/developers/docs/gas/)). Using this, we can solve for the average gas price (in units of gwei/gas) required to offset issuance, given a total daily ETH issuance of 1700 ETH:
 
-- `7200 blocks/day * 15x10^6 gas/block * Y gwei/gas * 1 ETH/ 10^9 gwei = 1700 ETH/day`
+- `7200 blocks/day * 15x10^6 gas/block * `**`Y gwei/gas`**` * 1 ETH/ 10^9 gwei = 1700 ETH/day`
 
 Solving for `Y`:
 
-- `Y = (1700(10^9))/(7200 * 15(10^6)) = (1700(10^3)/(7200 * 15)) = 16 gwei` (rounding to only two significant digits)
+- `Y = (1700(10^9))/(7200 * 15(10^6)) = (17x10^3)/(72 * 15) = 16 gwei` (rounding to only two significant digits)
 
 Another way to rearrange this last step would be to replace `1700` with a variable `X` that represents the daily ETH issuance, and to simplify the rest to: