61 episodes

“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.

The DeFi Download Radix DLT

    • Technology
    • 4.6 • 9 Ratings

“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.

    Potion Finance revisited (NtropikaLabs): decentralising a codebase and launching derivatives.

    Potion Finance revisited (NtropikaLabs): decentralising a codebase and launching derivatives.

    Piers Ridyard is joined by Jordi and Guillem, the founders and CEO and CTO of Potion.Finance, in this episode of the DeFi Download. They talk about automated risk management, the Kelly criterion, and how an automated strategy can be embedded into the bonding curve. 
    Potion.Finance is democratizing risk management. Potion safeguards the DeFi ecosystem from risk and ensures its sustainability. It is simple to access, open and transparent.
    In a previous DeFi Download episode, Piers spoke to Jordi and Guillem about Potion’s approach to risk management when it comes to things like options and derivatives and other similar things, and about the really interesting approach they have taken with the Kelly criterion, versus the traditional Black-Scholes model.
    [0:52] What is Potion Unlock and why should people care? What role and purpose will Potion fulfil after it's deployed, and how long will it last? 
    [8:14] What can the code do, and what can we expect the first users to accomplish with the Potion protocol once it's up and running?
    [11:39] The Potion team has focused on the user experience by developing visualisation tools that can assist in decoding the complexities of selling option risk management. To illustrate, Piers and Guillem take us on a simple journey, beginning with someone wanting to purchase a put option on Bitcoin and describing both sides of the transaction, first the buyer journey and then the LP route, and how those two things look.
    [17:35] To represent positions, Uniswap v3 chose NFTs over ERC-20s. Why did Potion decide instead to use fungible tokens rather than non-fungible tokens to indicate a specific bet?
    [20:08] How do Jordi and Guillem envision the emergence of a secondary market? How will they go about establishing a tradable market for their community? 
    [26:07] What is the obstacle that has prevented the Potion team from progressing so far?
    [28:05] Piers discusses two types of end states from the perspective of a liquidity provider. How is Potion performing in terms of liquidity, and how has the Kelly criterion aided in this situation?
    [39:44] What does a liquidity provider require, and how foolproof is the starting point?
    [44:50] What drives Jordi and Guillem to be Web3 developers and founders, and specifically to build Potion?

    Further resources
    Website: https://www.ntropika.io/ Twitter: @PotionLabs@NtropikaLabsDiscord: discord.ntropika.io Medium: https://potion-protocol.medium.com/  

    • 52 min
    SupraOracles: the hard problem of getting fast, trustworthy data on ledger

    SupraOracles: the hard problem of getting fast, trustworthy data on ledger

    In this episode of the DeFi Download, Piers Ridyard interviews Josh Tobkin, CEO of SupraOracles. SupraOracles is supercharging oracles for a better, decentralised future by building better, faster, more accurate, and more secure on-chain sources of off-chain data.
    Josh's background in supply chains and start-ups, as well as his blockchain research, prompted him to speculate on how to make it possible to securely get external data on-chain. 
    As a result, Josh and his team devised a novel cross-chain interoperability approach that is both secure (using innovative cryptography) and fast (with a finality time of 3-5 seconds). 
    [0:46] Background on SupraOracles and what Josh believes was the missing market gap that inspired them to build what they are building. 
    [4:08] Josh explains how SupraOracles would solve a couple of exploits that occurred during the early days of DeFi summer.
    [8:46] Piers’ first example of betting on the future price of Bitcoin and how SupraOracles would solve the issue of a faulty data source
    [14:19] Is SupraOracles performing all of the integration point calculations and then pushing the aggregated data to the ledger?
    [16:10] How does data get from an off-ledger state to an on-ledger state if anyone can submit it?
    [17:22] Do you have to be integrated into all of the data sources or a subset of the data sources to run a SupraOracles node?
    [20:04] How does the SupraOracles network's consensus-based answer get from SupraOracles to another network?
    [24:13] Piers' second example of Ethereum cross-chain communication and how the SupraOracles node network is aware of Ethereum events. How is data transferred from the SupraOracles network to Ethereum?
    [28:58] Who is responsible for paying the transaction fee? 
    [31:47] Oracles frequently appear to suffer from the tragedy of the commons, as once data is on-ledger, anyone can access and use it. But who pays for that data to be on Ledger in the first place? How does Josh see this changing over time, as it shifts from one interested party to many interested parties paying for data?
    [35:25] How can nodes collectively report incorrect information without malicious intent? In what way does SupraOracles prevent that?
    [38:18] In the event of a flash loan attack/on-ledger oracle manipulation, how can SupraOracles help?
    Further resources
    Website: supraoracles.com Twitter: @SupraOracles Discord: discord.io/supraoracles 

    • 47 min
    RedFoo - from Party Rock Anthems to falling in love with coding. An epic ongoing journey!

    RedFoo - from Party Rock Anthems to falling in love with coding. An epic ongoing journey!

    Piers Ridyard interviews Redfoo, a multi-award-winning artist best known for being a member of the musical duo LMFAO, in this episode of the DeFi Download. In this interview, Redfoo dissects his journey into coding, his passion for programming, the crypto, blockchain, and DeFi space, and building with Radix and Scrypto. 
    In the middle of June 2022, Redfoo will host a three-day hackathon at his home in Malibu, California. Four lucky members of the Radix Developer community will team up to create something remarkable using Scrypto, the Radix engine, Redfoo's chess engine, and expand it to create something truly unique. 
    [2:22] How did Redfoo transition from musician to coder? 
    [7:55] The thrilling early days of computing
    [12:39] The origin of the artist's name “Redfoo”
    [15:13] Redfoo describes his dream about binary numbers 
    [16:47] Redfoo’s Twitter application
    [19:58] How did Redfoo learn about crypto?
    [24:37] Redfoo talks about his love of chess
    [28:15] How many people does Redfoo expect to inspire through the hackathon? What does he anticipate the consequence of people seeing his interest in coding will be? 
    [33:57] What does Redfoo have to say to people who feel intimidated by coding?
    [38:39] A condition of childish curiosity, a state of play that helps you to discover your calling, is the starting point for success.
    [41:26] How Redfoo got a writing credit on a Kendrick Lamar album
    [42:28] What makes Redfoo believe that unless you learn to code, you will be left behind in the future?
    [47:32] What will the DeFi revolution's impact be?
    Further resources:
    Twitter: @redfoo Legendary Musician RedFoo Teams Up with Radix to Host “FooHack”Red-Foo & Dre' Kroon - Life Is a Game of Chess (Original Version) (Jungle 1996) 

    • 52 min
    Celsius - $23Bn and more Bitcoin than Michael Saylor

    Celsius - $23Bn and more Bitcoin than Michael Saylor

    In this episode of the DeFi Download, Piers Ridyard interviews Alex Mashinsky, co-founder and CEO of Celsius. Alex shares his vision for Celsius, as well as his passion for value creation and giving back to the people who couldn’t make it.
    Celsius is a yield and loan platform that allows users to earn interest on their crypto assets as well as receive a loan in one click. 
    Celsius has had an incredible five-year run, with $23 billion in assets under management, including 2 million ETH and over 250,000 Bitcoin, more than Michael Saylor and a number of the Bitcoin community's champions, and they've just raised an incredible $700 million. 
    Celsius currently employs over 850 people and has paid out over a billion dollars in yield to its community. 
    Alex's backstory is fascinating. He was born in Ukraine and immigrated to the United States in his early twenties, where he built four tech unicorns worth over a billion dollars and invented Voice over IP at the dawn of the internet. 
    [1:10] Alex talks about the four unicorn companies he founded.
    [5:26] From Voice over IP to internet access to giving people yield, why does Alex Mashinsky care so much about disintermediation?
    [9:27] Is the crypto world adopting Wall Street's worst habits? Insiders are said to make the most money in crypto, illustrated by the phrase "If you don't know where the yield is coming from, you're the yield." According to Alex, what are these bad habits?
    [12:10] What drives Alex to do the things he does?
    [14:51] What accounts for the high yield Celsius generates?
    [19:52] In the early days of the Internet, AOL was a walled garden focused on user experience. Then came the Netscape Navigator moment, when the internet suddenly became usable, and we quickly transitioned from Web 1.0 to Web 2.0. Instead of a curated garden, people desired an open platform where they could go and use whatever the internet had to offer anywhere in the world. How is Celsius not like AOL, based on this fact?
    [24:01] Is Alex considering Celsius to be an entire crypto universe? Or does he see it as a starting point for people to learn what it means to own and use cryptocurrency?
    [26:41] How does the Celsius team think about strategy, customer acquisition, and growth in the industry of yield-based products, given the growing competition from companies like Nexo and Coinbase Institutional? 
    [28:50] Equality of opportunity, one of the key aspects of crypto and DeFi
    [30:57] CelsiusX: access the rest of DeFi via the Celsius platform
    [33:55] Celsius's strategy for preventing hacks and mitigating financial risk
    [39:14] From the perspective of regulatory risk, a single institution is a single point of failure, and the industry is currently unsure how the regulator will view crypto assets and the kinds of things that Celsius is doing. What is Alex's and his team's take on regulatory risk and how they can mitigate it as a company while still providing service to their customers?

    Further resources
    Website: celsius.network Twitter: @CelsiusNetworkAlex Mashinsky Twitter: @Mashinsky Celsius Community TelegramCelsius AMA Archive on YouTube

    • 43 min
    Patrick Hansen - why the EU should embrace crypto, and what is getting in the way.

    Patrick Hansen - why the EU should embrace crypto, and what is getting in the way.

    Piers Ridyard interviews Patrick Hansen, Head of Strategy & Business Development at Unstoppable Finance, the wallet that aims to bring DeFi to the masses, in this episode of the DeFi Download. Patrick analyses why the EU should fully embrace crypto and Web3, as well as the current regulatory environment, which is stifling progress. 
    The Unstoppable Finance team is developing a DeFi investing app, attempting to natively integrate DeFi applications into a mobile app that is extremely simple to use, allowing people to experiment with various protocols and applications. They're currently working on their first product, which they hope to launch in two months. 
    Patrick has previously been heavily involved in crypto policy, particularly EU crypto policy, and has been a vocal advocate for reversing, or at the very least providing strong advice on, Europe's current course, and what he refers to as Europe’s "third way." 
    [1:01] Where did the concept of Europe's “third way” originate, and where does Patrick see Europe's problems arising?
    [3:14] The General Data Protection Regulation (GDPR) empowers users to control their data, regardless of where it is stored. Users have the right to ask a company what information they have on them and to request that they delete that information if they no longer want them to have it. As a result, businesses' perspectives on data are shifting. They face significant liability if they do not exercise extreme caution when handling user data. What role does crypto play in this principle? To put it another way, how does crypto fit into the larger concept of user sovereignty?
    [7:10] There may be a separation between object ownership and metadata. As a result, there is a great deal of personal information on ledger. How does Patrick perceive the relationship between GDPR and publicly accessible on-ledger, on-chain data that cannot be deleted?
    [10:12] In light of anti-money laundering regulations, VASP rules, and travel rules, the crypto world convinced regulators that chain analytics is beneficial. However, chain analytics provides more user data than the banking system requires. What are Patrick’s thoughts on privacy, privacy coins, and privacy regulation? Is he convinced that they have a place in the EU?
    [17:09] Patrick discusses how he thinks European anti-money laundering regulations should be applied to cryptocurrency.
    [18:05] What necessitates the exchange of information between two financial institutions? What harm are they trying to avoid, and where is the evidence that information sharing truly prevents it?
    [25:01] Is the European Union anti-crypto? What arguments could persuade the European Union to reconsider its stance on cryptocurrency regulation?
    [28:05] Patrick delves deeper into why the EU should go all-in on cryptocurrency from an economic and financial standpoint.
    [31:25] Is the decline in European companies' equity share over the last 20 years due to a regulatory environment that has rendered Europe uncompetitive?
    [33:04] Patrick responds to Piers' argument that if Europe is serious about crypto, it needs to go beyond parity and become more aggressive, as well as to return to the question of what we are attempting to prevent and how we can actually prevent it.
    [38:02] Regulatory guidelines are frequently unclear. The 5th EU Anti-Money Laundering Directive (AML5D) serves as an example.
    [40:05] A brief overview of the work of Unstoppable Finance

    Further resources
    Website: unstoppable.fiPatrick’s Twitter: @paddi_hansenUnstoppable Finance Twitter: @UnstoppableDeFi

    • 41 min
    Digivault - institutionals are getting serious about crypto

    Digivault - institutionals are getting serious about crypto

    Digivault - institutionals are getting serious about crypto
    With Robert Cooper, CEO of Digivault
    In this episode of the DeFi Download, Piers Ridyard interviews Robert Cooper, CEO of Digivault. Their conversation covers institutional digital asset custody, private key multi-layer security, and the current interest institutions have in crypto.
    Digivault is a back-end service that the average cryptocurrency user is unlikely to be aware of. Most crypto users are familiar with the Ledger Nano, a hardware security device that can be plugged into a computer and provides a higher level of security than simply using a software wallet on a phone or computer by theoretically making it impossible to extract the key from the device. 
    Digivault is a custodian of digital assets for institutions. It provides a fully customizable digital asset custody service, a white-glove service that focuses on ensuring security through multiple layers of protection and satisfies the most stringent institutional and regulatory requirements.
    [00:43] What does institutional custody entail? How does it create the secure environment that people have come to expect from a Ledger Nano device?
    [03:26] What is the Digivault private key generation process like, and why is it secure? 
    [05:06] Information on hardware security modules (HSMs), which are the basis for the Ledger Nano.
    [08:49] The main challenge in making HSMs work with crypto is that each cryptocurrency and public ledger has its own key derivation process, and each ledger has its own way of passing a transaction into the device, having the device sign it, returning the signed package, and then submitting it to the network. So, how did Digivault evolve from basic hardware security modules to something that could interact with a public ledger either directly or indirectly?
    [12:32] What factors influenced Digivault's decision to use HSM, and how did they weigh the benefits and drawbacks of HSM versus MPC (multi-party computation)?
    [16:12] Care, control, and custody of the private key are the three most important factors for insurance brokers.
    [21:31] User experience advances are vital, and in the early days of crypto, people lost billions of dollars worth of Bitcoin due to poor secret management. What does the Digivault team see as the shift in the crypto user base and what does that mean for the institutional custody business in terms of institutional custody and the concept of a corporation owning a private key?
    [24:58] Robert discusses the Bitfinex recovery in detail. 
    [27:02] Conflicts with the GDPR and the FATF travel rule, as well as privacy and non-privacy coins
    [36:13] What is Robert's assessment of the increase in institutional interest in crypto?
    [38:26] The regulatory challenge that arises as a result of the crypto industry recruiting and removing talent from the regulator space
    Further resources
    Website: digivault.comTwitter: @DigivaultGlobalRobert’s email: robert.c@digivault.com 

    • 45 min

Customer Reviews

4.6 out of 5
9 Ratings

9 Ratings

Jamento ,

We need more episodes!

Only listened to two episodes thus far and it’s easily the best DeFi podcast available. Which makes it all the more baffling to see that as this sector explodes they haven’t released a new episode in months. Shame.

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