Cardano Foundation presents research on PoS network reserve security at AFT 2026

Paolo Penna: Paolo Penna is a Research Fellow at Input Output (IOHK), specializing in algorithmic game theory, mechanism design, and the analysis of blockchain tokenomics and governance systems. His prior roles include senior research positions at ETH Zurich, and his recent contributions address PoS reward schemes, committee structures, and related economic security questions. Penna collaborated with Schneider to develop the stochastic model for determining state-dependent reserve thresholds in Proof-of-Stake networks, presented at AFT 2026. Manvir Schneider: Manvir Schneider serves as Senior Research Scientist at the Cardano Foundation, where his research centers on blockchain governance, validator incentives, restaking security, and mechanism design topics such as MEV extraction. He previously completed a PhD in game theory at ETH Zurich and continues to publish on staking pools, coin selection algorithms, and related economic models in decentralized systems. Schneider co-authored the peer-reviewed framework on Proof-of-Stake reserve security presented at AFT 2026. Research Framework: A peer-reviewed stochastic model now provides state-dependent thresholds for Proof-of-Stake reserve adequacy by solving validator participation games under fluctuating token prices and transaction demand. Tokenomics Insight: Recent analyses of Proof-of-Stake systems highlight the need to assess reserves through dynamic hitting-time problems rather than fixed depletion timelines or steady-state ratios alone. Conference Presentation: The paper was presented at the 2026 edition of the Advances in Financial Technologies conference, which features academic work on blockchain consensus, incentives, and economic security models.