Ethereum NED Proposal Prices Delegation Without Hard Caps

NED proposal adds no hard caps but prices concentrated delegation via operator families, linear bond (D≤λB), and quadratic reserve (Z=D²/2Θ). Marginal cost φy−βrB−sFrZ defines stopping point. Source-attributed runoff prevents Sybil refunds, keeping C=Q+ΣR non-decreasing. Idea-stage, no EIP.