The DeFi Download

Radix DLT

“The DeFi Download” with Piers Ridyard, CEO of Radix DLT. Join the leaders of the Decentralised Finance industry as they discuss all things DeFi: Its workings, user acquisition and go-to-market strategies while simultaneously re-inventing one of the world’s most important industries.
Harmony - creating massive social change through scaling and DAOs
Piers Ridyard interviews Samuel Harrison, Harmony ONE’s Head of Ecosystem Growth, in this episode of the DeFi Download. Solving the Blockchain Trilemma, radical social change through DAOs, and Harmony’s role in facilitating that through their ecosystem development fund are some of the topics of Piers’ and Sam’s discussion.Harmony is an EVM-compatible Layer 1 protocol with 2-second finality and transaction fees that are fractions of a penny.Harmony is the first blockchain to successfully implement shards on a functioning proof-of-stake network. It is also decentralized, secure, and scalable. Their ecosystem fund was unlocked in 2021, and they were able to deploy it, resulting in phenomenal growth and engagement.In 2022, Harmony will also be focusing on radical social change through Web3 ownership.[01:31] Harmony's inception and the problem the protocol was originally designed to solve[03:56] Is it possible to find a solution to the blockchain trilemma? If that's the case, how would Harmony go about accomplishing it?[10:26] What is Harmony doing to facilitate radical social change via Web3 ownership? In their view, where will the main source of radical social change come from?[12:39] Sam responds to Piers' counter-arguments about DAOs' ability to effect meaningful social change due to the capital-labour split – The qualitative difference between working in the gig economy and working for a DAO[22:55] What Harmony is doing in 2022 to support a radical social change movement that empowers people to take social responsibility for how they deploy their labour, capital, and are compensated[30:57] Harmony's favourite successful projects resulting from the ecosystem development fund[35:08] What defines Harmony’s position in the multi-chain universe: EVM compatibility, 2-second finality, half-penny transaction fees, and bridges to other protocols such as Binance, SmartChain, Ethereum and Bitcoin[40:16] Group identity vs tribalism and open-mindedness vs dogmatism in the crypto universeFurther resourcesWebsite: HarmonyForum: Harmony Community Forum  Twitter: @harmonyprotocol
4d ago
47 mins
DeFi savings with deposit insurance included. Plus a little something for the DeFi degens.
In this episode of the DeFi Download, Piers Ridyard interviews Hannes Graah, founder of the Gro Protocol. Their conversation focuses on the inner workings of Gro and its products, PWRD, Vault and Labs, and how they offer both leveraged yield as well as deposit security.Gro is a DeFi protocol that facilitates generating yield on stablecoins. Gro’s main product options are PWRD, a stablecoin with a substantial amount of collateral backing for protection, or Vault, which provides leveraged yield within the DeFi ecosystem. Vault is a token representation (Gro Vault Token or GVT) of stablecoin yield farming activities on the Gro Protocol. It is not a stablecoin itself. It is designed to be a long-term, high-yielding, high-risk investment that requires no upkeep from its holders.PWRD, on the other hand, is a low-risk savings product. It offers more secure access to DeFi yields, and it is tokenised as a stablecoin with built-in yield and protection via Risk Balancer. Risk Balancer gives Gro protocol a systemic view of protocol and stablecoin exposure and allows for decentralised and user-driven portfolio rebalancing.00:00 Intro0:49 What exactly is the Gro Protocol, and how does it work? Introduction to Gro Protocol’s products: Vault and PWRD2:38 The reasons behind the creation of the PWRD stablecoin5:06 Why would the leveraged product essentially pay for the lower risk products' coverage? More details about the mechanism of the leveraged product, the Vault7:40 The 3 main sources of yield for the Gro Protocol: Lending income (from lending protocols like Aave) Market making income (from AMMs such as Curve)Governance Token incentives10:52 Gro Protocol’s strategies of asset distribution and stablecoin yield11:45 How Gro Protocol employs tranches and the Risk Balancer module to protect against failure 18:38 What was the launch experience like for the Gro Protocol team? What is the APY, TVL, and utilisation of Gro?22:37 Labs: The recently launched Gro Protocol product on Avalanche with Alpha Homora v2, which provides advanced experimental leveraged yield farming strategies that are free of complexity33:24 The Gro governance, the Gro DAO, and the Gro DAO Token (GRO)37:49 The Gro DAO's recent decisions and what they've learned about governance as a result of this processFurther resources:Website: gro.xyz Discord: discord.gg/gro Twitter: @groprotocol Medium: groprotocol.medium.com ----------------Learn more about Radix:Website: https://www.radixdlt.com Twitter: https://twitter.com/RadixDLTTelegram: https://t.me/radix_dlt
Dec 17 2021
45 mins
Let's Debate: Is the future of DeFi single chain? Chad (THORChain) vs Piers (Radix DLT)
Today’s episode of the DeFi Download podcast is a little different. Instead of our customary interview, we are holding an informal debate. Joining Piers is Chad Barraford, core developer on the THORChain project. Chad's statements are his own and do not necessarily reflect those of the THORChain project or the THORChain community. Piers and Chad will take extreme stances on both sides of the argument throughout the debate. Piers will largely maintain that a single blockchain or public ledger is the only long-term potential for DeFi. Chad will make the case that multi-chain is the way of the future of DeFi. These will not always be the opinions of both speakers, but rather an opportunity for both sides of the topic to be heard and debated.[00:04] Introduction to the debate[02:17] Arguments in support of Piers' proposition that the future of DeFi is single chain[05:46] Arguments in support of Chad's thesis that the future of DeFi is multi-chain[09:55] Piers responds to Chad's arguments by refuting them and presenting more arguments in favour of DeFi's single chain future.[13:31] Chad's rebuttal to Piers' counter-arguments, as well as additional arguments in support of DeFi's multi-chain future[18:33] Piers uses the internet as an example to support his case for a single chain future.[20:26] Chad refutes Piers’ previous claim.[22:55] Piers temporarily switches sides and uses the analogy of countries to evaluate Chad's claims from the multi-chain perspective.[25:42] As a follow-up, Chad briefly adopts the opposing viewpoint and advocates for a single chain future.[27:51] Further discussion of the key roles that THORChain and Radix will play in the future of DeFi[34:05] Piers argues that the global financial system's purpose is to allocate capital efficiently, and DeFi delivers much-needed conveniences and efficiencies — eventually, multiple chains will be replaced by a single chain.[39:02] Chad is confident that the extinction of numerous blockchains is improbable.[44:37] Final thoughts on trustlessness and the futureFurther resources:Website: thorchain.org Twitter: @THORChain
Nov 26 2021
48 mins
Bancor: the original DeFi project on Ethereum
Bancor: the original DeFi project on EthereumWith Mark Richardson, Head of Research Piers Ridyard talks with Mark Richardson, the Bancor Protocol's Head of Research, in this episode of the DeFi Download. They dip into Bancor's history and innovations, its past controversies, and the source of its high yields. Bancor is the world's first decentralized trading protocol, allowing traders, liquidity providers, and developers to participate in an open market with no entry barriers. The use of the open-source Bancor protocol is not restricted.The Bancor protocol was created as a response to the low-interest rates offered by traditional bank products. Bancor users can invest their cryptocurrencies in this product and earn interest from market-making fees generated. Bancor is essentially a savings product that allows you to earn passive income from your capital. Due to the current state of DeFi, users can currently earn approximately 60% per year with the Bancor Network Token.[0:44] ELI5: What exactly is Bancor, and why should I care about it?[2:43] What kinds of assets can I invest in, and how much can I earn as a user on Bancor? [4:08] What is the source of the Bancor Network Token's (BNT) 60% interest rate?[15:14] What sets Bancor apart from Uniswap and SushiSwap as an automated market maker, and what gives Bancor its unique ability to provide only one side of the market?[19:39] How does Bancor protect against impermanent loss?[26:28] Bancor's history as one of the first DeFi projects, long before the term "DeFi" was coined[29:48] The definition of a ‘community currency’[33:00] Bancor’s innovations and role as a pioneer in the crypto space[42:01] The elegance of Uniswap V3[44:57] The weak points of Uniswap V3 and how Bancor approaches them in a different way[48:48] The upcoming release of Bancor V3Further resourcesApp: Bancor Network Twitter: @Bancor Telegram: Bancor Protocol  and Bancor Liquidity Providers Discord: discord.gg/CAm3Ncyrxk
Nov 12 2021
52 mins
DAOHaus: the borderless social movement of DAO governance
Join Piers Ridyard and Spencer Graham, Project Lead of DAOhaus, in this episode of the DeFi Download, to find out what a DAO is and how to summon one.Spencer Graham is the Project Lead of DAOhaus. DAOhaus is a community-owned and operated no-code platform for launching and operating Decentralized Autonomous Organizations. Its framework is based on the open-source code of Moloch.[0:42] What exactly is a DAO, and why is it important?[3:22] What distinguishes DAOs from previous entities such as collectives, partnerships, and unincorporated corporations that provide a sense of belonging and purpose to groups of people? What is the relationship between blockchain, distributed and public ledger technology, and this new type of organization and management?[7:06] Is the path to the formation of DAOs distinct from the path of human society from small villages to institutionalized power and the invention of representative and direct democracy? If so, how does it differ, and what role does the control of capital play in that difference?[10:59] What are the benefits of DAOs, and what are the drawbacks?[14:19] The ability of decentralized ledger technology to incentivize people to act in their own best interests.[16:02] DAOhaus: What does it mean to be a no-code platform for creating and administering DAOs, and why should it matter to you? The story behind The DAO and its hack.[19:01] Summoning Moloch DAO and the beginnings of the DeFi Summer[23:28] What function have Moloch DAOs served? Why would someone want to summon a Moloch DAO or a DAOhaus DAO? What are the benefits of a no-code way of creation for developers?[29:09] What exactly is a Safe Minion?[34:13] What is the Boosts Marketplace, and how does it work?[37:38] DAOhaus' perspective and strategy on NFTsFurther resourcesWebsite: daohaus.club Discord: discord.gg/daohausTwitter: @nowdaoit
Oct 29 2021
42 mins
BiFi: bridging all DeFi together, regardless where it lives
In this episode of the DeFi Download, Piers Ridyard and Dohyun Pak, delve into the details of Bifrost and BiFi, the multichain future of the blockchain space, and the role that DeFi can play in ensuring equal financial access for all.Bifrost is the world's first blockchain middleware that enables multichain technology. Bifrost’s motto is “Never settle for just one protocol. Always get the best of every protocol.”BiFi is a multichain lending protocol like Compound and Aave, but across multiple blockchains. It has over $111 million in assets under management.[0:57] How did Dohyun become interested in DeFi? What drew him into DeFi, and how did he progress from technical implementation to developing a DeFi product?[2:56] What was the turning point for Dohyun in realizing that the blockchain was something revolutionary, something that would change the world?[5:23] In the blockchain space, there is a philosophical divide between two schools of thought. Some believe that everything will be done on a single ledger, whereas others envision a multichain future in which different ledgers are being used for different purposes. Which schools of thought does Bifrost belong to, and why did they feel it would be such a valuable piece of technology to develop?[7:37] What is the purpose of BiFi? What exactly does it mean to be “multichain”? What is the total number of blockchains that have been integrated, and where is the central logic? Is there a primary blockchain and a few additional blockchains to which assets are moved, or is the entire application dispersed across multiple chains?[10:17] WBTC, renBTC, RSK (RBTC), Sovryn (SOV), layer-2 protocols like Polygon and Optimism, and ledgers like Radix, Aave, and Solana, all of which are developing their own DeFi ecosystems, are among the numerous solutions for expanding DeFi beyond the Ethereum network. What do Bifrost and BiFi do to enable all of the above to come together in such a unique way?[12:58] In practice, what does "connecting native Bitcoin" technically imply? Is it similar to Ren's approach of establishing a separate ledger in charge of the custodianship of the Bitcoin represented on a different ledger? [14:27] Bifrost presently manages assets worth $111 million. What do BiFi users do with their money? What kinds of tokens can people contribute, and what benefits can they receive in exchange? If they wish to use BiFi, which ledger should they use?[17:26] What are the advantages of lending Bitcoin on BiFi? [20:03] Is Bitcoin the most commonly deposited asset? Is it the most popular, and thus the most liquid pool on BiFi?[20:26] DeFi may at times appear immature to Dohyun, as a finance professor and someone who has spent a lot of time in the finance industry. What is Dohyun's prediction for DeFi in the coming years? What are some of the exciting developments he sees on the horizon?[23:45] The expressions "banking the unbanked" and "underbanked" have been used to describe persons who lack access to standard banking services. What role does DeFi play in ensuring that everyone has equal financial access?[25:57] What about the social aspect of DeFi? Does Dohyun believe that cryptocurrencies and the way crypto communities work will have an impact on finance?[30:07] How does Dohyun envisage assets like property, equities, or deliverable commodities like copper and gold being bridged from the real world to the decentralized world? [33:20] The Korean government has had an interesting relationship with cryptocurrency. What's the status of that relationship now? Further resourcesWebsites: Bifrost BiFi
Oct 17 2021
37 mins
Telos: the best bits of EOS and Ethereum, without the compromise
In this episode of the DeFi Download podcast. Piers Ridyard interviews Douglas Horn, the Chief Architect of Telos.Douglas is the founder of GoodBlock and the Chief Architect at Telos. He began developing for EOSIO and Ethereum-based chains after many years of producing film and video projects as well as interactive games for large corporations and brands such as Disney, Microsoft, Amazon, and Pokémon. Douglas joined a group that began building a new network using EOSIO and incorporating several of their own innovations. The result was Telos, a public ledger that rebuilt the EVM for high performance and is dedicated to bringing the best of Ethereum to the mainstream.In this episode, Douglas and Piers discuss the critical issue of governance and how Telos intends to make it easier and more inclusive, as well as the Miner-Extractable Value problem, which the Telos EVM solves at a lower cost and with greater capacity and speed than other platforms. [00:36] Douglas Horn's background prior to Telos, his introduction to cryptocurrency, and his involvement with the EOS Mainnet Launch Group [03:05] What EOS did right[08:20] EOS's core technology[09:25] What are the reasons for the lack of widespread adoption of the EOSIO development environment?[17:59] What issues is Telos attempting to address?[20:37] Can a completely decentralized organization rally people around it in the absence of a visionary, charismatic leader at its core, or do “people follow people, not ideas”?[25:40] What does the Telos protocol's intrinsic governance entail? [28:41] The advantages of building on the Telos Network[29:53] How does voting work in GoodBlock's Decide Voter App?[38:05] What exactly is the Miner-Extractable Value, and why is it a concern? What steps does Telos take to put a stop to an MEV attack?Further resourcesWebsite: Telos.net, Telos Wallet, Telos AppTwitter: The Telos Foundation: @HelloTelos‍Douglas Horn: @Douglas_Horn‍Telegram: t.me/HelloTelos‍Decide Voter app‍
Oct 1 2021
48 mins
Immunefi: hack DeFi the ethical way
In this episode of the DeFi Download, Piers Ridyard interviews Travin Keith, co-founder of Immunefi. Immunefi is the leading bug bounty platform in crypto, currently protecting over $25 billion in user funds.Travin and Piers discuss DeFi project vulnerabilities and how bug bounties are just as important as audits. Travis describes the characteristics of a good hacker and how Immunefi brings together hackers and projects to create more secure DeFi apps and platforms. [00:42] What exactly is a bug bounty, and why is it important?[04:10] The philosophy of the open-source movement[00:42] The "Homo economicus" fallacy, and why would any hacker capable of discovering an exploit in a project choose to accept a pay-out that is less than what they could get for exploiting that vulnerability?[12:11] The old way of thinking of companies that used to sue hackers for discovering vulnerabilities.[14:39] Amount of funds protected and of bounties paid out by Immunefi, as well as the case of Alexander Schlindwein[20:16] Immunefi's approach to recruiting hackers [24:55] What qualities make a good hacker, according to Travin's experience, that Immunefi looks for when looking for hackers for the White Hat Scholarship? [26:42] What events does Immunefi attend in order to recruit hackers?[28:29] Travin's business background and what it was like to live in Longyearbyen, Svalbard, in the Arctic. His path to co-founding Immunefi.[37:45] Immunefi's collaboration with the Maker ecosystem, including work and incubation with the Sustainable Ecosystem Scaling Core Unit[40:19] What would Travin change or improve about the current ecosystem if he had a magic wand? What are his thoughts, particularly on bug bounties and hacking, and what behaviour change he believes is critical for more founders and projects to understand?[44:53] The difference between a white hat and a black hat hackerFurther resourcesWebsite: immunefi.com/ Twitter: @immunefi Medium: medium.com/immunefiDiscord: discord.gg/rpkPDR7pVV
Aug 20 2021
46 mins
Alliance Block: making DeFi work for institutions
In this episode of the DeFi Download, Piers Ridyard interviews Amber Ghaddar, one of the founders of Alliance Block.  Alliance Block is working to create the world's first globally compliant decentralized capital market.Piers Ridyard and Amber Ghaddar discuss what it means to be a globally compliant decentralized capital market, how Alliance Block is creating a decentralized exchange with minimal impermanent loss, the concept of Trustless KYC/AML, Alliance Block’s Oracle of Oracles, and finally, why institutions find DeFi exciting!00:37 What does it mean to be a "globally compliant decentralized financial market," as the Alliance Block concept proposes?01:33 How Alliance Block defines "globally regulatory compliant" in the context of a set of DeFi tools or primitives07:06 What is it about DeFi that attracts the attention of institutions?08:36 How do you bridge a permissioned pool of yield-seeking institutions with the people who provide the yield, who primarily come from the permissionless DeFi space?11:25 The concept of Trustless KYC/AML and how you can be both anonymous and transparent.13:28 Permissioned DeFi applications on top of a permissionless infrastructure - How does KYC/AML responsibility and regulatory compliance work from the point of view of a trustless environment?16:47 Alliance Block’s first products: What is ‘Liquidity Mining as a Service’ (LMaaS)?19:48 Alliance Block's partnership with the DAFI protocol, which implements LMaaS21:13 The Alliance Block token (ALBT)23:16 Defining 'impermanent loss' and Alliance Block's goal of creating a decentralized exchange with minimal impermanent loss28:30 What steps does the Alliance Block system take to reduce impermanent loss?34:01 Data Tunnel, the Oracle of OraclesFurther resourcesWebsite: allianceblock.ioTwitter: @allianceblock Telegram: t.me/allianceblock
Aug 13 2021
38 mins
UMA - build DeFi without developing smart contracts
In this episode of the DeFi Download, Piers Ridyard interviews Clayton Roche,  Head of Community Development at UMA. They discuss how UMA works, the Optimistic Oracle system and how it solves the Oracle Problem, UMA's KPI options, and how to create incentivized engaged communities.UMA is a DeFi application that allows anyone to build decentralized finance products on-chain. UMA's mission is to offer permissionless and universal access to financial markets. For this reason, they began with a focus on synthetic assets that allow exposure and participation in any market in the world.0:40 An in-depth look at what UMA is and examples of successful projects built with UMA4:27 How the UMA team decided to create a general framework7:25 What is UMA's Oracle System and how did the UMA team address the "Oracle problem"?11:22 How does UMA's Optimistic Oracle work? An example of a happy case and an example of a dispute16:23 Why is UMA's approach superior, or why has the UMA team chosen this approach over Chainlink? 21:51 What were the various types of disputes handled by UMA, and how were they resolved?25:29 When Ethereum finance first began, most of the ways we modeled financial products were direct copies of what we saw in traditional finance. Is the traditional financial model also applicable to pooled financial products?28:27 What is the reasoning behind people preferring Aave over UMA for developing a system that allows for the fee-based lending and borrowing of Ethereum? What are the reasons why people prefer UMA for borrowing or lending rather than Aave, Compound, or another option?31:42 Currently in DeFi, who is using the Optimistic Oracle service?33:32 Token holders and UMA's recurring engagement requirement — How the UMA team devised a system to ensure that engagement occurs and that there is no half-life of interest, in which engagement dwindles over time. Aside from resolving disputes, how did they build a community centered on engagement?38:32 DAO treasury management, UMA’s KPI Options, and the game theory concept of creating incentivized communities focused on a group of people's objectivesFurther resourcesWebsite: umaproject.org Discord: discord.umaproject.org Twitter: @UMAprotocol UMA KPI Options: claim.umaproject.orgClayton Roche’s Twitter: @TokenArchitect
Jul 23 2021
45 mins
Alpha Labs: Automatically finding you the best opportunities in DeFi
In this episode of the DeFi DownloadPiers Ridyard interviews Tascha Punyaneramitdee, Co-Founder of Alpha Finance Lab's. Tascha provides an in-depth examination of Alpha Finance Lab's product offerings, including Alpha Homora, a leveraged yield farming product, Alpha Launchpad, a DeFi incubator, and AlphaX, a decentralized, non-order book perpetual swap trading market. 0:51 What is the definition of “alpha” in finance?1:49 What is the definition of “alpha” in DeFi, according to Alpha Finance Lab?2:48 Alpha Finance Lab’s market benchmarking process4:49 How Alpha Finance Lab came up with the idea for Alpha Homora and the iteration process that it has undergone6:47 Why can Alpha Finance Lab offer 8 to 10% of lending APY when Aave cannot? 8:45 An example of a leveraged yield farming strategy - A step-by-step explanation of where the assets are going, how they are being used, what is coming back, and what is being done with what comes back - Why would a yield farmer choose a leveraged product and what are the risk characteristics?15:32 What changes did Alpha Finance Lab notice in typical user behavior in V2?16:16 What did Alpha Finance Lab learn while developing Alpha Homora V1, and what changes did they make in Alpha Homora V2?19:07 Tascha's advice to people considering using these products for the first time on how to think about personal risk.23:24 The maximum leverage Alpha Finance Lab provides, as well as how far off the peg something would have to move to cause a 100% liquidation event25:22 What kind of return can one expect from a 9x leverage?26:17 What prompted the Alpha Finance Lab team to establish a lab? How do they find teams and what is their incubation process behind building the next set of products?27:59 Is there an incubator program from which Alpha Finance Lab drew inspiration? What is the style of incubation they have formed, and why do they believe it is best suited for DeFi?30:37 Why should a new project consider applying to Alpha Finance Lab?32:57 What is the next product from Alpha Finance Lab? What is the issue that AlphaX is attempting to resolve?37:35 Upcoming projects that have been incubated on the Alpha Launchpad38:35 What would Tascha recommend as a good place to start for most people interested in Alpha Finance Lab's work?Further resourcesWebsite: alphafinance.io Twitter: @alphafinancelab Telegram: t.me/AlphaFinanceLab Discord: discord.com/invite/Z2vuKDT
Jul 16 2021
40 mins
Figment: Making crypto infrastructure run smoothly
In this episode of the DeFi Download, Piers Ridyard interviews Lorien Gabel, CEO of Figment.io. Figment offers complete solutions that make it simple for token holders and developers to use and build on blockchains at the infrastructure, middleware, and application layers.Lorien is a serial entrepreneur with more than 20 years of operational, technological, and marketing management focused on Internet infrastructure. Before Figment, he founded and scaled three successful start-ups (Interlog Internet Services, BOAW Networks and Pingg.com). He has also served on the senior leadership teams of two other high-growth technology ventures (MessageLabs and Web.com) and has mentored, advised, and directly invested in several start-ups.Figment is one of the world's largest blockchain staking and infrastructure providers. The Figment team envisions a truly decentralized Internet where users can freely interact, share, collaborate, and exchange goods and services in a trustless environment. Based in Canada, serving customers worldwide, Figment's mission is to build a better Internet using blockchain technology.[01:47] As the founder of an ISP, Lorien sees parallels between the early days of the internet and what is happening now in the blockchain.[09:19] Lorien describes himself as the chief stoic at Figment. Why did he make stoicism his life philosophy?[12:46] What did the Figment team notice in 2018 that prompted them to develop Figment?[17:27] For those who have never used a staking service, how does it work in theory? How does the Figment address things such as the security of people's tokens?[20:39] Explaining slashing for those who are unfamiliar with the term.[23:39] What the Figment team thinks they did well, and what they have learned in the three and a half years they have been staking and running their infrastructure.[27:00] Did Figment have a specific go-to-market strategy for a network segment? Or have they tried everything and discovered that a certain customer type is better for them?[29:57] APIs for developers are another aspect of Figment's business. Learn, DataHub, and Hubble are all products from Figment.[36:07] Everyone is aware that Ethereum is transitioning to proof-of-stake, but few are aware of where it is currently and when it will be completed. What is Figment doing to prepare for the proof-of-stake transition?[39:47] What are Lorien's thoughts on Maximum Extractable Value (MEV) strategies, and does Figment intend to pursue them?Further resourcesWebsite: figment.io Twitter: @Figment_io Twitter: @lorientree Telegram: t.me/figmentnetworks
Jul 9 2021
44 mins
InsurAce. Making DeFi safer for everyone.
InsurAce. Making DeFi safer for everyone.With Oliver Xie, Founder & Project LeadIn this episode of the DeFi Download, Piers Ridyard interviews Oliver Xie, the founder and CEO of the leading DeFi insurance protocol InsurAce. During their conversation, they discuss the various types of risk and the importance of coverage in the DeFi space, as well as what distinguishes InsurAce from its competitors.InsurAce is the leading decentralized insurance protocol, providing reliable, robust, and secure insurance services to DeFi users that allow them to secure their investment funds against a variety of risks. InsurAce, a capital-pool-based insurance protocol, offers ultra-low portfolio premiums, cross-chain coverage, and sustainable returns in the form of the InsurAce Token (INSUR) and additional investment products.[0:46] What does InsurAce do, and how does it differ from its predecessors and peer DeFi insurance protocols like Nexus Mutual?[5:11] The most challenging aspect of developing an investment strategy as an insurance protocol is determining what the risk is in the first place; this is a necessary step in determining how much capital to put against risk, as well as how and whether you can cover that risk. So, how exactly does InsurAce accomplish this?[6:48] An example of an ideal risk event that InsurAce can cover and the type of risk associated with an Initial DEX Offering (IDO).[9:10] How does InsurAce protect against the risk of a smart contract hack or exploit?[12:42] The higher the stake, the lower the risk. What does this mean?[13:29] What happens if a user has Uniswap V3 coverage and decides to transfer liquidity from Uniswap V3 to Harvest Finance Uniswap V3 Strategy? Is the user charged the difference when using InsurAce? In terms of policy coverage, how does that work? Is it necessary to purchase a new policy for this purpose? Or does the user simply have the option of changing the policy parameters and thus paying a little extra?[15:15] How does InsurAce determine the appropriate level of capital adequacy and calculate the probability of correlated events to ensure capital coverage in the absence of strict insurance rules in DeFi?[20:36] InsurAce's capital-raising strategy: InsurAce staking and token rewards [22:30] From the user's perspective, how does purchasing insurance from InsurAce work?[24:36] InsurAce's multichain strategy: Which chains have they chosen so far, and how does the cross-chain system work?[31:44] The significance of insurance services, as well as Oliver's forecasts for the future of DeFi insurance[38:26] InsurAce's strategy for increasing capital providers' returns: free capital and investing premiums[41:35] What are InsurAce's most significant constraints and challenges in terms of capital versus capacity versus risk-writing ability?Further resourcesWebsite: InsurAce.ioTwitter: @insur_aceMedium: blog.insurace.io Discord: discord.gg/vCZMjuH69F
Jul 2 2021
45 mins
Notoros: Build ANYTHING on Radix DLT
Build ANYTHING on Radix DLTWith Andrew Brick and Brendan Laiben, Founders of Notoros DLT Join Piers Ridyard in this episode of the DeFi Download as he interviews Andrew Brick and Brendan Laiben, the founders of Notoros DLT. They discuss what it’s like to build on top of Radix DLT, sharding, scalability and how to solve the problems of the blockchain.Notoros has developed a protocol that makes it possible to build any application on Radix. Its system is highly adaptable, allowing developers to seamlessly distribute any application using the Radix consensus algorithm, Cerberus. [00:40] According to Notoros, they have made it possible to build "any application" on Radix. In practice, what does this mean?[04:06] Brendan and Andrew's backgrounds and early experiences prior to building on Radix[04:37] Brendan's experience developing a website advertising platform[07:41] Andrew's background in the energy industry, as well as his experience developing a loyalty exchange platform for an airline[11:35] Is Notoros a Layer-2 for Radix or is it something else?[14:54] Notoros and the Radix EVM[16:50] Why did Notoros choose Radix over other platforms that they thoroughly researched?[22:22] Notoros' long-term objectives and vision for what they want to accomplish[24:51] Interoperability of DeFi applications vs. adherence to a specific standard[30:17] Notoros' early projects: Ethereum Prime and the Prometheus Network.[33:03] Examples of corporations incorporating blockchain technology into their operations [35:22] The tokenomics of Notoros[38:33] Notoros' short-term plans for the next three to six months[41:22] The origin of the name ‘Notoros’Further resources:Website: notoros.ioTwitter: @NotorosDLTReddit: r/Notoros
Jun 25 2021
43 mins
Harvest Finance: Maximise your DeFi yield the easy way
Harvest Finance: Maximise your DeFi yield the easy wayWith Red, Community Foreman at Harvest Finance, In this episode of the DeFi Download, Piers Ridyard catches up with with Red, Community Foreman at Harvest Finance, about yield farming concepts  such as compounding and automation, the inner workings of Harvest Finance, and why anonymity in DeFi matters, despite cases of fraud.Harvest Finance is a yield farming aggregator that automatically searches for the best DeFi returns possible. It allows users to deposit funds with confidence that they will always receive the best yields on their assets.[00:45] An ELI5 explanation of what yield farming is, why it matters, and how it began.[06:56] Harvest Finance's launch, the function and significance of the Harvest Finance governance token, and an examination of the ethos of fair launches.[08:01] Real-world examples of how a strategy might look.[11:27] Is the development of Harvest Finance necessitated by the congestion on Ethereum, or were there other factors at play? [19:47] Who develops the strategies at Harvest Finance and how do they get approved?[22:24] What is a Harvest Finance governance token and what is it used for?[28:06] How Harvest Finance overcame the challenge of establishing trust in the community despite having anonymous founders. The Harvest Finance hack and how they were able to grow following the event.[36:03] Reasons for anonymity in DeFi, as well as issues of trust and fraud.[42:51] What is next for Harvest Finance?Further resourcesWebsite: harvest.finance Twitter: @harvest_finance Discord: discord.gg/gzWAG3Wx7Y Telegram: t.me/Breadforthepeople Reddit: /r/HarvestFinance/
Jun 18 2021
49 mins
Amber Group: Your Gateway to Crypto Finance
In this episode of the DeFi Download, Piers Ridyard interviews Annabelle Huang, partner at Amber Group, a global financial services provider that aspires to become the Goldman Sachs of crypto. Their discourse provides insight into Amber Group's focus, products, strategies, and predictions for the crypto space's future. Amber Group's vision is to create a one-stop-shop for people to buy, sell, structure, and earn yield on their crypto holdings in a highly trusted environment[00:00:43] Amber Group's offerings and motivation for developing such a large suite of products, and their long-term cryptocurrency plans.[00:02:33] Why does the market require another consumer-facing platform for buying and selling cryptocurrency? What distinguishes the Amber app from others?[00:05:55] Why did Amber Group opt for a custodial approach? What difference does it make to the user experience?[00:10:20] Managing jurisdiction regulations and on-ramping.[00:15:18] The Amber app's target audience.[00:17:44] Amber Group's user acquisition strategy and the importance of focus[00:23:33] What was Amber Group's initial product set, and who was it aimed at, coming from the traditional finance space? [00:32:18] What exactly is market-making, how does it function, and why is it important?[00:34:37] The long-term vision and strategy of Amber Group. What motivates them to build the next set of products, how do they decide which opportunities to pursue, and how do they see the crypto space evolving over the next 4 to 10 years?[00:37:01] Annabelle's thoughts on industry macro trends.Further resourcesWebsite: ambergroup.ioTwitter: @ambergroup_io
Jun 4 2021
41 mins
How to market a crypto company with Jeremy Epstein.
This week's DeFi Download episode features a conversation between the CEO of Radix DLT Piers Ridyard, and Jeremy Epstein, founder of Never Stop Marketing and Co-Chief Investment Officer of Crypto Futura Fund. In this episode, they delve into crypto marketing and address topics like community building, tribalism, and what it's like to brief generals in the Pentagon about the blockchain.Jeremy is the author of three books about the intersection between blockchain and marketing. He has written nearly 1000 blog posts on the blockchain and the impact of crypto-economics and has served as an advisor to OpenBazaar, Dapper Labs, the cryptocurrency FAME, DAOstack, Storj, Arweave, Formatic (now Magic), SingularityNET, Zcash.Jeremy is also a mentor on the Outliers Ventures program Base Camp, and he has twice briefed three-star generals at the Pentagon on the impact of cryptocurrencies.01:17 Jeremy's viewpoint on marketing in the cryptocurrency space and how it differs from traditional marketing.02:59 Given that Bitcoin is a community project that became valuable due to the collective belief of people wanting it to be so, how has Jeremy seen the sophistication of ways of thinking about building communities change over the years since Bitcoin's inception?6:23 What is the crypto world bringing into the traditional world, according to Jeremy? Is the traditional world being inspired by what's going on in crypto, or is it being forced to adapt and change because people expect a new type of interactivity?7:49 The emergence of tribes and tribalism in the crypto space.19:21 Jeremy discusses his experience briefing the Pentagon.22:15 Jeremy's crypto moment and what made him realize that crypto was more than just a strange technology fad.26:27 Jeremy's advice on constructing a project's narrative or story and how to think about it from the perspective of an external consumer.29:03 How Jeremy assisted Zcash in refining its marketing message.31:04 Radix's experience working with Jeremy as a marketing advisor.36:12 What are some of the upcoming innovations in the intersection of marketing, public ledgers, and decentralized applications?38:29 What is the definition of Wallet Relationship Management? Is the concept in conflict with the desires of the crypto community?Further resources:Company Website: Never Stop Marketing Twitter: @jer979Blog: Never Stop Marketing Blog Books & Publications: neverstopmarketing.com/download
May 21 2021
44 mins
Terra - a complete ecosystem for the future of finance
In this episode of the DeFi Download, Piers Ridyard interviews Do Kwon, the CEO of Terra. Their conversation delves into Do Kwon’s background, which influenced the Terra platform's conception and growth, as well as the platform’s envisioned decentralised alternative to the traditional financial system.Terra is a layer 1 protocol and stablecoin that aims to solve financial problems more effectively than current FinTech solutions. The Terra ecosystem consists of several products, including Luna, an elastic supply token with a market cap of $7.4 billion, CHAI, a popular consumer payments app currently used by 5% of Koreans, Anchor, a lending protocol that pays out 20% per year on savings and Terra stablecoins, and Mirror, a decentralised version of Robinhood where you can trade any type of synthetic equity.[00:01:01] Do Kown's background before starting Terra, and the reason he decided Terra was necessary to build as a result of his prior experience.[00:05:46] The primary motivation for creating Terra: Was Terra's vision as broad as it is today during its early days? Did it begin with the idea that tokens would become interesting or useful? How the emergence of decentralised finance altered the Terra team's original strategy.[00:10:24] Growth of the Terra ecosystem: Creating a suite of products as Terraform Labs, launching them, and attracting developers to build on top of the Terra platform rather than other platforms such as Ethereum, Binance, or SmartChain.[00:20:20] Do Kown’s perspectives on the interaction or potential interaction between nation-states and protocols such as Terra.[00:27:09] Capital controls in South Korea, as well as details on breakage.[00:32:54] The Anchor platform's potential risks and weak points.[00:37:09] Do Kown’s take on Tether and his reasons to prefer decentralised, stablecoins over centralised stablecoins.[00:40:19] Is Do Kown comfortable holding all of his assets in cryptocurrency, and if so, does he?[00:41:17] What would Do Kown say if he had one minute of global airtime to speak to everyone in the world?Further resourcesWebsite: terra.moneyTwitter: @d0h0k1
May 12 2021
43 mins
BrightID - Decentralised Identity, Governance and Universal Basic Income
BrightID - Decentralised Identity, Governance and Universal Basic IncomeWith Philip Silva, founding advisor, BrightID Join Piers Ridyard, in this DeFi Download episode, as he interviews Philip Silva, founding advisor of BrightID, which helps you prove your digital uniqueness. Their conversation ranges from explaining the inner workings of BrightID to delving into the feasibility of a cryptocurrency-based UBI, as well as what makes CryptoPunk NFTs so popular.BrightID is a social graph in which you make connections by scanning QR codes. Those connections are made cryptographically. The BrightID team has improved upon robust open-source anti-Sybil analyses algorithms of previous social graphs and integrated them into their system.Phillip Silva is also involved in the LAO, Flamingo DAO, and Neptune, and is a staunch supporter of universal decentralisation.[00:00:46] What is the currently unresolved problem in the world that BrightID is attempting to solve?[00:02:05] From the cypherpunk movement and beyond: How to build a system where you can rely on the attestation without seeing the original information.[00:04:04] BrightID’s function and the mechanics of its positive and negative points. What happens when creating a BrightID and how to create one?[00:06:07] How to solve the Sybil problem in a social graph system?[00:09:40] BrightID’s present focus and the RabbitHole example, as well as its potential, 10-to-20-year vision and a cryptocurrency-based Universal Basic Income. BrightID’s aspiration to provide anti-Sybil solutions for ventures considering UBI experiments.[00:14:53] Artificial intelligence, automation, and the need for Universal Basic Income: New distribution mechanisms within capitalism.[00:19:42] Solutions to the Sybil problem and their limitations, such as weak subjectivity: BrightID’s seed-based approach.[00:25:03] The importance of on-ledger identity to governance, which allows associating a key and a vote that is cryptographically verified with something that has an anti-Sybil mechanism. How BrightID views the concept of governance of decentralised autonomous organisations and how the tools at its disposal aid in the operation of such organisations.[00:27:08] Plutocracy within decentralised autonomous organisations and the tyranny of the wealthy: BrightID’s response to plutocracy and Gitcoin example.[00:31:20] Philip’s involvement with the decentralised autonomous organisations LAO, Flamingo DAO, and Neptune:[00:31:56] LAO (legal autonomous organisation), “the DAO wrapped in a legally compliant manner”[00:36:47] Flamingo DAO, NFTs, and CryptoPunk Aliens[00:41:08] Neptune and Yearn-like algorithmic strategies for yieldFurther resourcesWebsite: brightid.orgTwitter: @BrightIDProjectPhilip Silva’s Twitter: @UBIpromoterLAO Website: thelao.io
May 6 2021
44 mins
dApp.com - building a dApp guide for the world
dApp.com - building a dApp guide for the worldWith Kyle Lu, CEO & Founder, dapp.com In this episode of the DeFi Download, Piers Ridyard discusses with Kyle Lu, CEO and founder of dApp.com, a cross-chain platform, where you can discover, analyse and use dApps built on blockchains such as Ethereum, EOS, TRON, WAX, and others.DApp.com is a leading data-driven marketplace for blockchain applications and services, which provides a suite of metrics, market reports and data insights into over 4000 apps from over 16 different smart-contract platforms. DApp.com is at the forefront of an emerging market for blockchain applications. [00:00:58] The origins of dApp.com [00:02:24] What Kyle considers to be the most significant milestones of the dApp market[00:06:20] Differences between decentralised applications launched in 2017-2018 and those launched more recently[00:09:31] Kyle’s thoughts on how ledgers are currently used. Is he noticing a substantial increase in applications other than DeFi being developed on Ethereum, as well as any significant DeFi usage on other platforms that is worth discussing?[00:13:53] Is Kyle noticing other applications, besides DeFi, being created that may be overshadowed by DeFi’s popularity?[00:16:00] What piques Kyle's interest in the DeFi space currently, and what are his predictions regarding its evolution?[00:19:35] The structural problems of DeFi and the Radix approach to resolving them[00:29:12] How to get more information about dApp.com, what you can do with it, and how to learn more if you are interested in diving into the wonderful world of decentralised applications?Further resourcesWebsite: dapp.comTwitter: @dapp_comTelegram:  t.me/dapp_com
Apr 29 2021
32 mins