The Delphi Podcast
The Delphi Podcast
Jan 14, 2021
Aave: The Road to a Crypto-Powered Neobank
Play • 1 hr 24 min

Chain Reaction Host Jose Maria Macedo sits down with Stani Kulechov - Founder & CEO of Aave. Aave is one of the leading DeFi protocols with nearly $3B in TVL and $4B in loans originated. Originally known as ETHLend, Aave launched its ICO in 2017 and unlike most, built through a brutal multi-year bear market that saw its price drop >90%. The team’s persistence was rewarded with a truly epic 2020 as TVL grew 1000x (from $300K to $3B) and market cap grow ~150x (from $10M to $1.5B). Most importantly, the team has continued to innovate at breakneck space, pioneering features such as flash loans, delegated credit lines, collateral swaps and entirely new governance structures.

In this conversation, we skip over much of the now well-covered Aave back story and focus on covering new ground. We discuss things like:

  • What makes a good protocol founder & CEO,  
  • What Stani looks for as an angel investor, 
  • How Stani sees the competitive landscape,
  • Aave’s e-money license and plans to become a neobank,
  • Aave’s biggest mistakes in 2020 and focuses for 2021,
  • ...and much more

Show Notes:

(3:35) – Stani’s background and what brought him to crypto

(9:45) – Angel investing: What does Stani look for in projects & founders?

(13:57) – Learnings from being a Protocol CEO

(19:31) – Biggest mistakes and learnings from 2020

(23:47) – Aave’s e-money license and what it will enable

(28:39) – Aave’s Protocol and Application Layers

(31:43) – Aave’s Application Layer as a DeFi Aggregator

(33:16) – Application value capture

(38:14) – The potential of the Safety Module as an Insurance Product.

(40:47) – Delegated Credit and unlocking yield aggregation

(52:24) – Competitive moats in DeFi

(58:42) – Thoughts on Compound Chain

(01:01:13) – Thoughts on Algorithmic Stablecoins

(01:03:34) – Thoughts on CREAM, the Yearn conglomerate and “Protocol M&A”?

(01:08:39) – Aave’s new Governance Standard

(01:15:14) – How does Stani see the future of Protocol Politicians?

(01:20:14) – Stani´s Expectations / Strategic Focuses for 2021.

Resources:

More

Disclosures: This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host may personally own tokens that are mentioned on the podcast. Lets Talk Bitcoin is a distribution partner for the Chain Reaction Podcast, and our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product or service. Delphi’s transparency page can be viewed here

Zero Knowledge
Zero Knowledge
Fredrik Harrysson, Anna Rose
Episode 169: Arkworks SNARK libraries with Pratyush Mishra
In this week’s episode, Anna (https://twitter.com/AnnaRRose) and Robert Habermeier (https://twitter.com/rphmeier) chat with Pratyush Mishra (https://twitter.com/zkproofs), co-author of the Arkworks toolkit. Arkworks is a collection of Rust libraries designed to simplify development with SNARKs, both for developing high-level application circuits and building custom SNARK implementations. Pratyush lays out what possibilities and trade-offs Arkworks offers, diving into the details of the Rust implementation and why it is the best language for developing cryptographic primitives. Anna, Rob and Pratyush then branch out into the philosophical and practical questions of open-source and blockchain development. Here are a few links to Arkworks and the topics they discussed: Arkworks GitHub (https://github.com/arkworks-rs) page and Telegram (https://t.me/joinchat/FqkNt8u_OenonTJ4) group. Pratyush’s GitHub (https://github.com/Pratyush), Twitter (https://twitter.com/zkproofs) and Berkeley (https://people.eecs.berkeley.edu/~pratyushmishra/) pages. Bellman (https://github.com/zkcrypto/bellman) and Libsnark (https://github.com/scipr-lab/libsnark), some of the other libraries that are similar to Arkworks. The Celo (https://docs.celo.org/overview) and Mina (https://minaprotocol.com/docs) protocols, two major projects using Arkworks. Here (https://medium.com/cornellblockchain/a-brief-dive-into-zk-snarks-and-the-zokrates-toolbox-on-the-ethereum-blockchain-cb7bd7f00fdc) is a basic explainer of what projects like Arkworks are trying to do and why it’s useful, with a particular focus on ZoKrates, one of the languages Pratyush mentioned. Intros to Circom (https://iden3.io/circom), Leo (https://developer.aleo.org/developer/getting_started/overview/) and Zinc (https://github.com/matter-labs/zinc), some of the higher level languages. An earlier episode with Robert Habermeier (https://www.zeroknowledge.fm/83) about the work he does on Polkadot. Be sure to subscribe to the zkMesh Newsletter (https://zkmesh.substack.com) - a monthly rundown of the latest in decentralised privacy-preserving technologies, privacy protocol development and zero knowledge systems research. Put together by Anna & Mikerah (HashCloak). Thank you to this week’s sponsor Least Authority (https://leastauthority.com). Least Authority is a security consulting and product development company known for pushing the limits on how to build privacy-respecting solutions. They are a team of security researchers, open source developers, privacy advocates and cryptographers. They have developed an end-to-end encrypted cloud storage product that minimizes the collection of any data related to its users, called PrivateStorage (https://privatestorage.io/). PrivateStorage implements privacy and security by design, not by policy. PrivateStorage is based on Tahoe-LAFS an open source distributed file store PrivateStorage is launching in the second half of this year. Visit PrivateStorage.io (https://privatestorage.io/) to learn more and to sign up to be notified about its release. *If you like what we do: * Follow us on Twitter @zeroknowledgefm (https://twitter.com/zeroknowledgefm) Join us on Telegram (https://t.me/joinchat/B_81tQ57-ThZg8yOSx5gjA) Catch us on Youtube (https://www.youtube.com/channel/UCYWsYz5cKw4wZ9Mpe4kuM_g) Read up on the r/ZKPodcast subreddit (https://www.reddit.com/r/zkpodcast) Give us feedback! https://forms.gle/iKMSrVtcAn6BByH6A Support our Gitcoin Grant (https://gitcoin.co/grants/329/zero-knowledge-podcast-2) Support us on the ZKPatreon (https://www.patreon.com/zeroknowledge) Donate through coinbase.commerce (https://commerce.coinbase.com/checkout/f1e56274-c92b-4a99-802f-50727d651b38) *Or directly here: * ETH: 0xC0FFEE1B5083230a5154F55f253B6b6ae8F29B1a BTC: 1cafekGa3podM4fBxPSQc6RCEXQNTK8Zz ZEC: t1R2bujRF3Hzte9ALHpMJvY8t5kb9ut9SpQ
58 min
Blockcrunch: For Global Crypto Investors | Investment Theses | Project Breakdowns  | Industry Trends
Blockcrunch: For Global Crypto Investors | Investment Theses | Project Breakdowns | Industry Trends
Jason Choi
NFTs for Skeptics: Bubble or New Paradigm? - Nick Tomaino, Ep. 134
I've been a vocal skeptic of NFTs as investments in the long term. To challenge my view, veteran crypto VC and ex-Coinbase early employee, Nick Tomaino (@NTMoney), joins us to debate: * How do you value digital collectibles? * The enforceability of moats in NFTs * Are NFTs in a bubble? * How large is the NFT opportunity? * NFT projects Nick is most excited about Host: Jason Choi (@MrJasonChoi). This show is not financial advice; show host and guest may hold some of the assets discussed. ------------- Sponsors ------------- CRYPTO.COM: Crypto.com serves 10M+ customers, providing them with a powerful alternative to traditional financial services through their App, Visa Card, Exchange and DeFi offerings. On the Crypto.com Exchange, you can buy coins at up to 50% off and mine the hottest DeFi tokens in one-click. Plus, you get paid a 2% deposit bonus, and up to 10% APR of interest by staking CRO! Sign up for the Crypto.com Exchange. BITTREX GLOBAL: You can now trade tokenized stocks like Google, Netflix, Amazon and Alibaba on Bittrex Global. Users can trade 24/7 globally, even purchase fractions of a share. Sign up now: https://global.bittrex.com/discover/tokenized-stocks. ------------- Disclosures ------------- Musical credits: Underground Stars by Loxbeats https://spoti.fi/34tPBBO Creative Commons — Attribution 3.0 Unported — CC BY 3.0 Free Download / Stream: https://bit.ly/underground-stars Music promoted by Audio Library https://youtu.be/vpJDMD2EzkA Disclaimer: Jason Choi is an investor at Spartan Capital, the hedge fund arm of The Spartan Group. All opinions expressed by Jason and podcast guests are solely their own opinions and do not reflect the opinion of The Spartan Group and any of its subsidiaries and personnel. This podcast is for information purposes only and should not be relied upon as a basis for investment decisions.
51 min
Bankless
Bankless
Bankless
54 - Why DeFi is the Future | Mark Cuban
Mark Cuban needs no introduction, but the entrepreneur and Shark Tank host has an impressive depth of knowledge of the crypto space, and he has a particular ability to break complicated subjects into simple, digestible ideas. Listen as we talk DeFi, NFTs, Ethereum, and the future of finance with Mark Cuban! ------ 🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ ----- GO BANKLESS WITH THESE SPONSOR TOOLS: ⭐️ AAVE - BORROW OR LEND YOUR ASSETS https://bankless.cc/aave 🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP https://bankless.cc/go-gemini 💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith 📱 DHARMA - MOBILE ONRAMP DIRECTLY INTO DEFI https://bankless.cc/dharma ------ 📣LATTICE | NEXT GENERATION OF HARDWARE WALLETS https://bankless.cc/gridplus​ ------ Don't stop at the video! Subscribe to the Bankless newsletter program http://bankless.substack.com/ Visit the official Bankless website http://banklesshq.com/ Follow Bankless on Twitter https://twitter.com/BanklessHQ Follow Ryan on Twitter https://twitter.com/ryansadams Follow David on Twitter https://twitter.com/TrustlessState ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures
1 hr 40 min
Kierin - Your DeFi Guide
Kierin - Your DeFi Guide
kierin
8 POLKADOT Altcoins That Will Make Millionaires in 2021 binance
8 POLKADOT Altcoins That Will Make Millionaires in 2021  ▶Business inquiries: yourdefiguide@gmail.com  https://kusama.network/ https://www.coingecko.com/en/coins/kusama https://kardiachain.io/ https://medium.com/@secdegulleri/kardiachain-the-first-decentralized-interoperable-and-self-optimised-blockchain-ecosystem-90f6365ad714 https://www.coingecko.com/en/coins/kardiachain https://www.coingecko.com/en/coins/darwinia-network-native-token https://moonbeam.network/ https://bondly.finance/#features https://robonomics.network/blog/recap-2020/ https://blog.aira.life/what-is-robonomics-network-robot-as-a-service-and-future-parachain-of-polkadot-or-something-more-36deece9f3cb  Hi my name is Kierin and I'll be your your guide on your DeFi adventure. The DeFi space is complicated and dangerous. There are many scams, hacks, and people out there trying to take your money away from you. It's important to have the tools and knowledge to be safe in the space. Therefore, I'll be your map and compass to help you thrive on your yourney to financial independence.   🔥🚀MY FAVOURITE SERVICES 🔥🚀 ▶  Kraken : https://bit.ly/create-your-kraken-account-here▶  Coinbase (Get 10$ bonus) : http://bit.ly/buyandsellcrypto▶  Binance (Get 10% discount fees) : http://bit.ly/2TE6O87▶  Best Charts on Tradingview : http://bit.ly/31FLule▶  Hardware Wallet (Ledger): http://bit.ly/2KDk35V --------❤️ Let's Connect On Social Media---------- 🐦 Twitter: https://twitter.com/yourdefiguide The content of this video is not financial advice. You should not make any investments based on this video. I am not liable for any losses you may incur when trading crypto, always do your own research.  DISCLAIMER: This video and description contains affiliate links, which means that if you click on one of the product links and then buy something, I may receive a commission. As an Amazon Associate I earn from qualifying purchases.  -- hashtags --  #polkadot #defi
22 min
CoinDesk Reports
CoinDesk Reports
CoinDesk.com
BORDERLESS: How Bitcoin Is Becoming a Lifeline for Cubans
This week on Borderless, tech reporter Leigh Cuen speaks with data analyst and entrepreneur Boaz Sobrado about how bitcoin became relevant to him when he had to use it at his e-commerce company.  With the changes in the U.S. presidential administration in 2016 and the strict regulations that followed it became harder to bank in Cuba. Processing payments and conducting proper international transactions were causing his company to bleed money. So Boaz turned to bitcoin to move money in and out of the country safely and provide commerce to Cuban communities.  However, bitcoin adoption in Cuba turned out to be harder than he thought. Due to COVID-19, Cuba is undergoing the worst economic crisis since the 1990s. At that time Cuba’s economic structure was so atrocious that portions of its population suffered from hunger. Boaz says, “We aren’t there yet” that it isn’t as bad as the crisis of the 1990s. However, with Western Union remittance rates going down there is less and less money in the country. This has caused inflation to rise and product delivery to the country of Cuba to become more difficult.  Listen as Sobrado discusses the informal peer-to-peer development of the cryptocurrency markets in Cuba and how the internet penetration in Cuba is accelerating bitcoin adoption.   Did you enjoy the show? We would love to hear what you think. Leave us a review on Apple Podcasts or your preferred service and talk to us directly via email at borderless@coindesk.com.
25 min
The Scoop
The Scoop
The Block
Bloomberg's ETF whisperer says the SEC could approve a BTC ETF
Regulators in Canada approved two bitcoin exchange-traded funds (ETFs) in recent days, marking the first approvals of their kind for North America. Since launch, the products have seen considerable inflows. With the demand for a bitcoin ETF now proven, many wonder what a Canadian approval could mean for a U.S. offering.  The Scoop spoke with Eric Balchunas, a senior ETF analyst at Bloomberg, about what an approved bitcoin ETF means for the landscape. During this week's episode Balchunas broke down the winding road to approval and why Canada was always likely to be a first. Now that Canada has its BTC ETFs, he argued that an approval from the U.S. Securities and Exchange Commission (SEC) is just around the corner. "I think it's just a matter of the SEC coming around, and then once they come around mentally, I imagine it will happen pretty quickly," he said. "But again, I'm not in that bubble. I'm not a regulatory analyst. That's just my sense from talking to people." How Canada has historically been a proving ground for novel financial products. The differences and similarities in the Canadian and U.S. approval processes. Why Balchunas thinks 2021 will be the year of a U.S. BTC ETF approval. Why it's only a matter of time before a meme ETF launches. This episode is brought to you by Kraken Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today.
38 min
The Crypto Conversation
The Crypto Conversation
Brave New Coin
Techemy Capital launches DeFi ETP on Balancer
Techemy Capital has launched Decentralized Exchange-Traded Portfolios (ETPs) on Balancer, starting with a DeFi ETP. We’re joined by Techemy Capital CEO Fran Strajnar, and Balancer CEO Fernando Martinelli who discuss why these ETPs are a potential game-changer, how to invest, and what this means for DeFi. Guests: Fran Strajnar and Fernando Martinelli Why you should listen: “Digital asset investors and traders are seeking more advanced ways to gain exposure to popular DeFi assets,” says Fran Strajnar, CEO at Techemy Capital. “BNC’s DeFi Index and ETP provides this, all with industry-leading security, transparency, and speed. Rather than having to pick one DeFi winner and hope for the best, investors can now get exposure to the success of the entire sector.” Fernando says it is validating to see funds such as Techemy Capital be early adopters of Balancer. "We're about to launch Balancer V2 which will bring massive gains in cost efficiency for gas fees. It's an exciting time for crypto and for DeFi and brilliant to see Techemy Capital provide a use case for Balancer that we foresaw from day one.” Key takeaway: The DeFi ETP is a physical representation of Brave New Coin’s Blue-Chip DeFi Index ( a portfolio of 8 key assets). The DeFi ETP gives traders non-synthetic exposure to assets in the BNC DeFi Blue-Chip Index: Yearn Finance ($YFI), Compound Finance ($COMP), Aave Protocol ($AAVE), MakerDAO ($MKR), Synthetix ($SNX), Uniswap ($UNI), SushiSwap ($SUSHI) and Uma Project ($UMA). Issued on Balancer Protocol, the new DeFi ETP mimics the constitution and weights of the BNC Blue-Chip DeFi Index. It is rebalanced in alignment with the index, providing traders an opportunity to get non-synthetic exposure to the assets that make up the index, and/or to speculate or arbitrage between the price parity of the index-powered perpetual swaps [offered by third parties such as BTSE] and the spot market for the ETP. The DeFi ETP is non-custodial, transparent, on-chain, wholly collateralized, highly liquid, and instantly redeemable. Supporting links: Techemy Capital Balancer Previous Techemy Capital podcast Previous Balancer podcast Leverj Andy on Twitter Brave New Coin on Twitter Brave New Coin If you enjoyed the show please subscribe to the Crypto Conversation and give us a 5-star rating and a positive review in whatever podcast app you are using.
40 min
The Wolf Of All Streets
The Wolf Of All Streets
Scott Melker | BlockWorks Group
Achieving "Hyperbitcoinization" with Alex Adelman, CEO of Lolli
Earning cashback has always been boring - you earn pennies on the dollar in points that you may never use. Lolli transformed the rebate industry by offering Bitcoin as a reward, boosting global exposure and giving 10x the rewards that competitors offer with fiat. It is Lolli’s unique position between merchants and consumers that is pushing global adoption. The path to hyperbitcoinization is paved with free Bitcoin for people who have never held it before. In this episode, Melker and Adelman discuss a range of topics including: ・Democratization of commerce ・Death of retail ・Bitcoin as a payments rail ・Omni channels and atomic swaps ・The forefront of consumer and merchant adoption ・Corporations selling Bitcoin ・Central banks adding Bitcoin to the balance sheet ・Hyperbitcoinization ・Removing the middleman ・Open minded maximalism ---- MAKERSPLACE MakersPlace is the go-to premium marketplace for purchasing rare digital artworks from the world’s top creators (Ie. José Delbo, Trevor Jones, Pak, SSX3LAU, Shu Lea Cheang). New artworks are dropped twice a week, where they typically sell out within seconds of release and have been reselling several months later, upwards of 10x. Subscribe for exclusive drop notifications at https://makersplace.com/thewolf ---- Legacy of Dead  This episode was brought to you by Bitcasino. The worlds leading Bitcoin-led online casino and crypto-centric gaming destination. Wager your way into a world of opportunity, with the ultimate Fun, Fast and Fair crypto-casino experience.  Deposit, wager, and withdraw in real-time with a host of top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), LiteCoin (LTC), Tether (USDT), TRON (TRX), Ripple (XRP), and more!  Use the promo link Bitcasino.io/Scott, to unlock your 200 FREE SPINS in the Legacy of Dead Promotion. ---- Join the Wolf Den newsletter: ►►https://www.getrevue.co/profile/TheWolfDen/members ---- If you enjoyed this conversation, share it with your colleagues & friends, rate, review, and subscribe. This podcast is presented by Blockworks. For exclusive content and events that provide insights into the crypto and blockchain space, visit them at: https://www.blockworks.co
55 min
The Blockchain Debate Podcast
The Blockchain Debate Podcast
Richard Yan
Motion: Ethereum is too early for institutional money (Lyn Alden vs. Qiao Wang)
Guests: *Lyn Alden (**twitter.com/lynaldencontact**)* *Qiao Wang (**twitter.com/qwqiao**)* Host: *Richard Yan (**twitter.com/gentso09**) * Today’s motion is “Ethereum is too early for institutional money.” Quite a few institutions have voted with their feet on Bitcoin. This ranges from corporate treasuries to money managers. At what point will Ethereum catch the attention of non-crypto native capital allocators? Our debaters today are Lyn Alden and Qiao Wang, both well known in crypto circles. Lyn wrote a well-researched article arguing that from an institutional perspective, Ethereum feels like an unfinished product and isn’t likely to pick up significant interest in the short run. Qiao has been looking at Ethereum as an investment in its early days, and it’s fair to say he has been a perma-bull.  If you’re into crypto and like to hear two sides of the story, be sure to also check out our previous episodes. We’ve featured some of the best known thinkers in the crypto space. By the way, we're planning episodes on CBDC, centralized lending versus de-centralized lending, the fad of NFT or non-fungible tokens, whether Bitcoin is good for America and whether Bitcoin is good for the environment. So if you're interested or know someone that would be interested in debating, please feel free to DM me at @blockdebate on Twitter.  Please note that nothing in our podcast should be construed as financial advice. Source of select items discussed in the debate (and supplemental material): * Lyn's investment strategy website: https://lynalden.com * DeFi alliance: https://defialliance.co/ * Grayscale ETHE trust: https://grayscale.co/ethereum-trust/ * John Pfeffer paper on crypto value accrual: https://medium.com/john-pfeffer/an-institutional-investors-take-on-cryptoassets-690421158904 Guest bios: Lyn Alden runs an investment research service for both retail and institutional investors at LynAlden.com. Her focus is on fundamental investing with a global macro overlay, with a specialization in currency differentials and equity valuations. She also manages financial operation of an aviation simulation research facility. Qiao Wang is a macro and crypto investor. He is one of the founders for DeFi Alliance, an accelerator for decentralized finance projects. Previously, Qiao Wang helped build Messari, a startup aiming to create Bloomberg for the crypto markets. Prior to that, Qiao was a quantitative trader. He ran R&D teams and helped build two trading businesses at IMC and Tower Research.
1 hr 6 min
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