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Like most modern blockchain networks, Ethereum has relied on economicincentives to promote honest participation in the chain's consensus. Thedistributed character of the platform, together with the "randomness" or "luck"factor that both proof of work (PoW) and proof of stake (PoS) provide whenelecting the next block proposer, pushed the industry to model and improve thereward system of the system. With several improvements to predict PoW blockproposal rewards and to maximize the extractable rewards of the same ones, theultimate Ethereum's transition to PoS applied in the Paris Hard-Fork, moregenerally known as "The Merge", has meant a significant modification on thereward system in the platform. In this paper, we aim to break down boththeoretically and empirically the new reward system in this post-merge era. Wepresent a highly detailed description of the different rewards and their shareamong validators' rewards. Ultimately, we offer a study that uses the presentedreward model to analyze the performance of the network during this transition.

Autopsy of Ethereum's Post-Merge Reward System