Jan 22 2025 61 mins
Makoto Uramura, co-founder of Pell Network, joined us on Helios Horizons Ep.33 to discuss how Pell are creating a more capital efficient staking system by allowing projects to leverage the economic security of established assets rather of relying solely on their native tokens.
The problem is straightforward but devastating: new networks must attract validators by offering substantial token emissions, creating unsustainable economics that can be difficult to sustain. Pell's solution elegantly addresses this by enabling projects to "borrow" security from Bitcoin, EGLD, and other established cryptocurrencies.
This approach creates a win-win relationship where projects can bootstrap their networks faster with institutional-grade validators ready from day one, while asset holders gain additional yield opportunities without taking on excessive risk. With over $500m in TVL already secured, Pell has demonstrated the market's appetite for this capital-efficient security model.
What makes Pell particularly innovative is their technical approach to Bitcoin restaking, which required substantial engineering work due to Bitcoin's limited programmability. This breakthrough has opened Bitcoin's massive market cap to provide security for projects across ecosystems. Their expansion to MultiversX follows the same philosophy, creating tailored implementations that will particularly benefit sovereign chains being developed on the platform.
Looking forward, Makoto envisions a future where restaking becomes the standard for new distributed systems, allowing developers to focus on creating exceptional user experiences rather than wrestling with infrastructure challenges.
Listen back to Helios Horizons Ep.33 to learn about restaking, and how Pell's approach has the potential to address some of the key challenges facing new projects in Web3.
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