@florenceken
Restaking and stakedrops (EigenLayer-style) introduce “security spillover yield” but also centralization risks. In valuation, spillover yield enhances protocol attractiveness, as stakers earn multi-layer rewards. However, higher concentration in a few restaking providers increases systemic fragility. Analysts can model expected returns as base staking yield + spillover premium – centralization discount. Estimating the size of this premium and discount requires on-chain validator data. Properly pricing these trade-offs is essential for avoiding overvaluation while recognizing the novel yield layer such mechanisms add to staking ecosystems.
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