DeFi
DeltaPrime and Ledger Works Join Forces to Revolutionize DeFi Lending Risk Management
In a significant development for the decentralized finance (DeFi) sector, DeltaPrime, a non-custodial liquidity marketplace, has announced a strategic partnership with Ledger Works (LWorks) to introduce cutting-edge financial risk modeling capabilities to its decentralized lending and investing platform. The collaboration, set to launch on July 30, 2024, promises to reshape risk management practices in DeFi lending, particularly on the Avalanche and Arbitrum networks.
The partnership aims to leverage LWorks’ RiskOps-as-a-Service environment to deploy sophisticated borrowing power recommendation models for each token on DeltaPrime’s supported chains. This integration will allow DeltaPrime to securely extend increased borrowing leverage to its users, potentially opening up new opportunities for investors in the DeFi space.
A key element of this collaboration is the implementation of LWorks’ Continuous Control Monitoring (CCM) system for protocol and market monitoring. This advanced system is expected to significantly improve DeltaPrime’s situational awareness and ability to effectively manage market risks. The enterprise-wide risk management capabilities provided by LWorks are expected to position DeltaPrime at the forefront of liquidity markets on various blockchain networks.
LWorks’ comprehensive risk management services will combine trade, protocol and market financial risk controls into a unified dashboard with real-time IT models and rules. This integration will provide DeltaPrime with several critical capabilities, including real-time market monitoring through intuitive dashboards and alerts, risk-based trade monitoring to identify operational vulnerabilities, and comprehensive protocol alerts to proactively identify smart contract issues.
Piotr Duda, CEO of DeltaPrime, highlighted the importance of risk management in liquidity markets, saying: “The number one priority of any liquidity market must be its risk management. Being able to anticipate and prevent high-risk events is paramount to establishing a sustainable protocol.” Duda expressed confidence that the partnership with Ledger Works would improve their decision-making regarding financial risks, providing users with greater freedom and better protection simultaneously.
David Melnick, CEO of Ledger Works, highlighted the alignment between the two companies’ approaches to risk management. “By combining their DeFi experience with our comprehensive risk management solution, we can elevate their already world-class offering to the market,” Melnick said, highlighting the potential impact of this collaboration on the DeFi ecosystem.
The partnership brings together significant expertise in security, risk management, and big data systems. Ledger Works has over 100 years of experience in these areas, with key team members including David Melnick, former national partner in Deloitte’s Enterprise Risk Services practice, and Steve Elfanbaum, former co-founder and principal of Asynchrony Solutions. The team also includes Chintan Mehta, a Princeton University PhD graduate with extensive postdoctoral work at Yale, who brings expertise in deterministic and stochastic modeling to coordinate engineering and data science efforts.
This collaboration between DeltaPrime and Ledger Works represents a significant step forward in addressing one of the most critical challenges in the DeFi space: risk management. As the DeFi sector continues to grow and evolve, implementing sophisticated risk management tools and strategies becomes increasingly important to ensure the stability and sustainability of decentralized financial systems.
This partnership is expected to have a significant impact on the DeFi lending landscape, potentially setting new standards for risk assessment and management in decentralized finance. By combining DeltaPrime’s innovative DeFi platform with Ledger Works’ advanced risk management solutions, this collaboration could pave the way for increased adoption of DeFi lending services by providing users with enhanced security and more efficient use of capital.
As we approach the July 30 launch date, the DeFi community will be closely monitoring how this partnership unfolds and its impact on the broader ecosystem. The success of this initiative could inspire similar collaborations across the industry, potentially leading to a more robust and secure DeFi landscape for all participants.
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