Latest news with #StaniKulechov
Cision Canada
a day ago
- Business
- Cision Canada
CoinDesk Overnight Rates (CDOR) to Support Stablecoin Money Markets based on Aave
These first-of-kind money market rates transform Aave pool activity into conventional overnight rates to support interest rate derivatives and floating rate loans. NEW YORK, June 17, 2025 /CNW/ -- CoinDesk Indices, a leading provider of digital-asset benchmarks, in collaboration with Sentora, a pioneer in institutional DeFi solutions, today announced the launch of CoinDesk Overnight Rates (CDOR), the first benchmark interest rates that draw upon Aave's lending pools to provide standardized overnight rates for major stablecoins. CDOR to Support Industry Growth CDOR rates are designed to support markets for hedging funding costs, securing yields, and developing cross-currency rate strategies. Calculated and published daily, these rates are accessible to exchanges, market makers, protocol treasuries, and structured-product desks. Stani Kulechov, Founder of Aave Labs says,"CDOR is a new benchmark interest rate built on Aave's deep onchain liquidity. It provides a transparent, risk-free lending rate that unlocks new use cases for stablecoins, such as derivatives and fixed-income products, enabling more efficient, scalable, and automated financial markets." The first CDOR rates utilize activity on Aave v3's Core variable borrow pools for USDC and USDT. CoinDesk Indices has released a methodology that converts this on-chain activity into a historical daily (or "overnight") rate that can be aggregated over longer periods. These pools, whose rates react instantly to changes to supply and demand, are important facilities in decentralized finance that reflect activity of a large population of borrowers and lenders. Andy Baehr, CFA, Head of Product and Research, CoinDesk Indices says "Stablecoins are expected to grow into the trillions, but there is no institutional-grade money market for trading and hedging term rates. CDOR rates provide a cornerstone element for the stablecoin rates markets, using the same conventions as TradFi benchmarks, which support the largest derivatives markets in the world." Anthony DeMartino, CEO, Sentora says, "Sentora's mission is to make on-chain finance as efficient as traditional finance. With CDOR rates you can switch from floating to fixed funding, or speculate on the curve, in a single, capital-efficient trade; a crucial building block that's been missing for years. These rates will enable new DeFi use cases and Sentora is happy to support the evolution of capital markets on-chain." Liquidity Providers Signal Support for CDOR Exchange-traded futures contracts, currently under development, will settle against CDOR rates and will provide market participants with new and powerful tools for risk management and strategy implementation. Galaxy, FalconX, Flowdesk and Tyr Capital will act as founding market makers. Ed Hindi, CIO, Tyr Capital says,"CDOR rates enable the creation of a broad range of financial derivatives that are currently missing in the crypto financial ecosystem. This addition alongside a clearer regulatory environment should exponentially increase the interaction of institutional players with DeFi. The ability to efficiently manage interest rate risk is a game changer for the CeDeFi markets. Tyr Capital is thrilled to be more widely involved in making the TradFi and crypto relationship more symbiotic." Jason Urban, Global Head of Trading at Galaxy says,"With CDOR rates, the market gains a powerful rate signal that reflects real-time borrower demand and enables smart, scalable trading strategies. It's a meaningful step in bridging DeFi and traditional finance, making stablecoin markets more accessible and actionable for sophisticated investors." Joshua Lim, Global Co-Head of Markets, FalconX says,"We are pleased to partner with CoinDesk Indices and Sentora on their CDOR product suite. The next phase of growth in crypto will be driven by convergence of CeFi and DeFi capital markets." Reed Werbitt, US CEO, Flowdesk says,"The introduction of CDOR will enable broader institutional adoption and participation in crypto credit markets, enhancing capital efficiency and risk management across our trading strategies. The ability to mitigate interest rate risk is a critical foundation of a functioning capital market, and we're excited to be working with Sentora to bring this product to fruition." By turning on-chain market activity into standardized interest rates, CDOR lays the groundwork for exchange-traded money-market futures and other rate-based derivatives. For additional information on CDOR please visit View the CoinDesk Overnight Rates (CDOR) - Aave | USDC and Aave | USDT. About CoinDesk Indices Since 2014, CoinDesk Indices has been at the forefront of the digital asset revolution, empowering investors globally. A portfolio company of the Bullish Group, its indices form the foundation of the world's largest digital asset products. CoinDesk Indices is regulated in the UK by the Financial Conduct Authority and offers products across multi-asset indices, reference rates, and strategies. Flagships such as the CoinDesk Bitcoin Price Index and the CoinDesk 20 Index set the industry standard for measuring, trading, and investing in digital assets. With tens of billions of dollars in benchmarked assets, CoinDesk Indices is a trusted partner. About Sentora Sentora, born from the recent merger between DeFi technology specialist IntoTheBlock and financial solutions provider Trident Digital, is a leader in developing institutional-grade DeFi solutions, yield strategies and risk-management infrastructure. Sentora's solutions connect leading digital asset firms and large capital allocators to the advantages of decentralized finance. About Aave Protocol Aave is the leading decentralized, non-custodial liquidity protocol, with over $40 billion in total value locked (TVL). It allows users to earn yield on deposits and borrow a wide range of digital assets without intermediaries. Core features include risk management tools such as supply and borrow caps, flash loans, and GHO — a decentralized, overcollateralized stablecoin native to the protocol. Aave is fully governed by the Aave Decentralized Autonomous Organization (DAO). Learn more or participate in governance at Disclaimer CoinDesk is a portfolio company of the Bullish Group. CoinDesk Indices, Inc., including CC Data Limited, its affiliate which performs certain outsourced administration and calculation services on its behalf (collectively, "CoinDesk Indices"), does not sponsor, endorse, sell, promote, or manage any investment offered by any third party that seeks to provide an investment return based on the performance of any index. CoinDesk Indices is neither an investment adviser nor a commodity trading advisor and makes no representation regarding the advisability of making an investment linked to any CoinDesk Indices index. CoinDesk Indices does not act as a fiduciary. A decision to invest in any asset linked to a CoinDesk Indices index should not be made in reliance on any of the statements set forth in this document or elsewhere by CoinDesk Indices. All content displayed here or otherwise used in connection with any CoinDesk Indices index (the "Content") is owned by CoinDesk Indices and/or its third-party data providers and licensors, unless stated otherwise by CoinDesk Indices. CoinDesk Indices does not guarantee the accuracy, completeness, timeliness, adequacy, validity, or availability of any of the Content. CoinDesk Indices is not responsible for any errors or omissions, regardless of the cause, in the results obtained from the use of any of the Content. CoinDesk Indices does not assume any obligation to update the Content following publication in any form or format. © 2025 CoinDesk Indices, Inc. All rights reserved. Forward-Looking Statements: This press release may include "forward-looking statements" relating to future events or the Bullish Group's future financial or operating performance, business strategy, and potential market opportunity. Such forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Bullish Group, are inherently uncertain and are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. You should not place undue reliance on any such forward-looking statements, which speak only as of the date they are made, and the Bullish Group undertakes no duty to update these forward-looking statements.
Irish Times
28-05-2025
- Business
- Irish Times
‘Dublin can be a leader' in blockchain, says digital finance founder Stani Kulechov
Decentralised finance company Avara has opened its new European headquarters in Dublin as it seeks to build up its presence in the EU. 'Dublin can be a leader in the space,' said Stani Kulechov, the founder of Avara, noting that the Irish capital 'is a great place to have a European headquarters'. The company opened its Dublin office a number of weeks ago, initially hiring eight developers, but has already outgrown its space through hiring additional electronic engineering roles. Avara has 90 employees globally, and is anticipating further growth in its Dublin office in the coming months. Mr Kulechov came to Dublin to headline two separate conferences as part of Dublin Tech Week, ETH Dublin and Blockchain Ireland, which he said is evidence of the 'strong blockchain community here in Dublin' and the enthusiasm towards the adoption of the technology. READ MORE 'Ireland has had blockchain developers that have been around since the beginning of Ethereum , there is quite a strong ecosystem with a lot of very strong talent.' Blockchain technology is a system in which information is channelled through a series of independent computers allowing, in one use case, for a decentralised financial system that does not require a central bank. 'As a company that wants to build this technology, we want to have a base somewhere that we can actually test things out locally before scaling them across the whole European Union,' Mr Kulechov said. Avara is headquartered in London and has an office in New York. It expects the Dublin office to be a catalyst for growth in the EU. 'Our goal is to be one of the biggest market participants, not just in the European Union, but globally,' Mr Kulechov said. He expects the company to grow to rival the biggest financial technology companies in the world: 'Obviously, it is going to take a while to get there but that is the mission.' [ John Collison of Stripe: 'I am baffled by companies doing an about-face on social initiatives' Opens in new window ] Avara's Aave decentralised lending protocol has recorded €40.3 billion in net deposits so far and is targeting €100 billion total value by the end of 2025. Mr Kulechov welcomed the recent implementation of EU regulation frameworks on the wider cryptocurrency industry, saying it gives 'clarity on the rules and creates a level playing field for everyone on how to build in that market'. He warned, however, that 'regulation can be overly excessive' and could slow innovation in the industry and would especially hit smaller companies in the space. Avara, alongside its subsidiaries, is a registered Virtual Asset Service Provider with the Central Bank of Ireland, with Mr Kulechov saying, 'It is important to choose the regulatory path, because that creates certainty, but also expectations for the customers on the safety and security.' Mr Kulechov anticipates that decentralised finance services will have a 'significant opportunity' as Central Bank interest rates decrease in the coming years and sees stable coins, cryptocurrencies linked to traditional currency, as the 'next big thing in decentralised finance'.
Yahoo
04-04-2025
- Business
- Yahoo
Creators of DeFi Firm Aave Launch Social Media Developer Network Lens Chain
Avara, the parent company of decentralized finance (DeFi) platform Aave, has announced the arrival of Lens Chain mainnet, a fast and inexpensive Ethereum overlay blockchain for developing decentralized social media applications. There are now several blockchain-oriented, or 'Web3,' startups looking to provide users with an alternative to the giant, centralized social media companies like Facebook and Elon Musk's X (formerly Twitter). To offer better alternatives to existing social media giants requires a fertile protocol level, according to Avara CEO Stani Kulechov. This means offering a developer-friendly layer 2 environment, propelled by composable features designed to unleash the economic potential of decentralized 'SocialFi.' 'The direction we have taken with Lens in the past 12 months is to bring the best developer tooling for building on chain social experiences,' Kulechov said in an interview. 'We chose the optimal stack to run Lens Chain where we get the lowest possible transaction in cost, but a sufficient amount of security for these social transactions.' Lens Chain, a system that uses mathematical proofs to check the veracity of batched off-chain transactions, has its own dedicated stablecoin, Aave's GHO, to handle gas fees, and its own decentralized data storage. A range of application building blocks are on offer to create things like composable social graphs, custom feeds, token-gated communities etc. The blockchain has cemented partnerships with several DeFi and infrastructure projects including Uniswap, Balancer, LayerZero, Circle, Consensys and Chainlink.
