KoinlyticsEigenLayer slashing is live on mainnet. Restaked ETH allocated to actively-validated services can now be cut for AVS-defined offenses. Every AVS defines its own slashing conditions, its own veto committee, and its own economic parameters. The 18-month period where restaking was a yield play with only theoretical risk is over.
What actually changes for a restaker
Before slashing, allocating your restaked ETH to an AVS was economically identical to lending it out for extra points and yield: worst case, the AVS pays you less than expected. Now, worst case, the AVS operator you delegated to gets slashed and part of your restaked balance is destroyed. The exact percentage depends on the AVS's slashing formula. Some AVSs cap slashing at 5 percent. Others allow up to 50 percent for coordinated attacks. All of them require you to actually read the slashing spec before delegating, which almost no restakers do.
The operator angle
Operators used to compete on marketing (dashboards, uptime SLA promises, ecosystem partnerships). Now they compete on operational discipline: correct AVS software versions, correct network configuration, no key exposure, no downtime during a challenge window. The cost of an operator getting sloppy is now measured in slashed ETH, not lost customers. Delegators who did not evaluate this rigorously before now must, because the risk is priced in real ETH.
The portfolio angle
Every restaked ETH position needs three numbers: total restaked balance, list of AVSs the delegation is allocated to, and worst-case slashing exposure summed across those AVSs. If the total worst-case exposure exceeds what you would be comfortable losing overnight, you are overallocated. Rebalance to fewer AVSs, or to operators with cleaner track records, or unstake and take the withdrawal delay.
What Koinlytics tracks: every restaking position with AVS allocation breakdown, per-AVS slashing exposure, and effective yield after slashing risk so restaking is a decision priced in loss, not just a yield line.