Recently, our founder joined João Simões, Swell’s Head of Growth, on the Restaked podcast to unpack his crypto journey, the origins of Tokensight, and why the next cycle will be driven by a new wave of applications that use restaked collateral, slashing mechanics, and redistribution in innovative ways.
The conversation unfolded in three parts:
First, we revisited Bernardo's path from traditional finance to fintech and finally to crypto, where Tokensight was founded to address a persistent gap in restaking risk research.
Second, we examined how most analytical frameworks still mischaracterize restaking as a static yield multiplier instead of a dynamic coordination layer. In practice, each restaked position carries multidimensional exposures—spanning operators, AVSs, slashing correlations, and collateral health. Tokensight’s work centers on translating this complexity into structured, data-driven risk signals and technical risk reports that help curators, protocols, and operators allocate capital efficiently and intelligently.
Finally, we explored how the next phase of the ecosystem will be defined by application-level innovation. Protocols such as Cap and Catalysis illustrate, and arguably pioneer, this transition: Cap leverages restaked collateral to underwrite loans, while Catalysis extends it to insurance guarantees, both enforced through verifiable slashing conditions that anchor economic security to real-world utility.
Restaking, at its core, represents the convergence of verifiable security provisioning, the point where validator behavior, protocol design, and incentive architecture intersect. It is not merely a new yield source but a new launchpad economy, one that transforms staked capital into programmable, productive collateral powering the next generation of decentralized systems.
Listen to the full episode at: https://restakingpodcast.com/e/x8vlyzq8-why-90-of-restaking-risk-analysis-is-wrong-and-how-to-fix-it-with-bernardo-vicente
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