Gauntlet
@gauntlet
1/ Yesterday, restaking took a great leap forward with the launch of vaults on @symbiotic Today, we break down our curation strategy.
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Gauntlet
@gauntlet
2/ Our methodology: maximize network allocation, minimize slashing risk across preferred collateral options We evaluate the following factors: - Network allocation - Collateral selection - Operator onboarding
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Gauntlet
@gauntlet
3/ Network allocation — slashable We evaluate slashable networks by conducting technical due diligence, incorporating our delegator hook, which acts as a stop-loss in the event of mass slashing, and leveraging our monitoring and modeling. We also employ an optimization technique called “minimax,” which minimizes the worst-case loss for our vault stakers in the event of mass slashing.
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Gauntlet
@gauntlet
4/ Network allocation — non-slashable With non-slashable networks, we take a risk-adjusted yield-maximizing approach by allocating the maximum amount of vault collateral (up to each network’s limit) to provide shared security.
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Gauntlet
@gauntlet
5/ Collateral choice With Symbiotic’s mainnet launch, we selected five premium LSTs as collateral for Gauntlet-curated Symbiotic Restaking Vaults: wstETH, cbETH, rETH, swETH, wBETH. We evaluate collateral based on this framework: https://www.gauntlet.xyz/resources/restaking-collateral-health
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Gauntlet
@gauntlet
6/ Operators Operators serve two purposes: 1) efficiently running networks without exposure to additional slashing risk and 2) diversifying depositor risk from unexpected slashing. We onboard operators with a strong track record across existing restaking ecosystems and L1s. Still, slashing risk cannot be reduced to zero. Spreading allocations across multiple operators reduces the potential downsides from unexpected slashing.
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