@e956321f

How did restaking APY behave during past Ethereum hard forks? Given that EigenLayer and the modern AVS ecosystem are relatively new, there is limited data on their behavior during major Ethereum hard forks like the Merge or Dencun. However, we can extrapolate from first principles. In the lead-up to a fork, APY would likely experience elevated volatility and potential downward pressure. Risk-averse operators might temporarily unstake to avoid any unforeseen slashing risks associated with the base-layer changes, which could temporarily increase APY for those who remain. Post-fork, if the upgrade is successful and introduces scalability improvements (like Dencun's blobs), it could fuel a new wave of L2 and AVS activity, increasing demand for restaking security and pushing APY higher. The behavior is a function of perceived risk versus anticipated future utility.

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