Flash Loans: The Holy Grail of Composability - Stani Kulechov

End of the Chain

About this episode

Stani Kulechov joins End of the Chain with host Samuel McCulloch to discuss dollarization on the blockchain, Aave, flash loans and the growth of Defi.

Stani Kulechov is the Founder and CEO of Aave, an open source and non-custodial protocol to earn interest on deposits and borrow assets. Stani was studying law at the University of Helsinki when he first got into Ethereum and he started exploring how it could impact the traditional financial system. In 2017, Stani released ETHLend, one of the first DeFi dapps ever. Since then, he has made it his mission to create tools for an open, transparent, and equitable financial ecosystem through Aave Protocol.

Stani's LinksLinkedin | Twitter | Crunchbase

SHOW NOTES

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What to listen for

• How the historical creation of banknotes mirrors the creation of collateralized dollars in DeFi.
• How the integration of real-world assets into DeFi may reduce volatility in the long run but create systemic linkages to centralization.
• Why Ethereum is a liquidity aggregator, and the next logical step is to create NFTs which represent real-world assets in DeFi.
• Why DeFi is currently undergoing something similar to hardware format wars, ie. Blue-ray versus DVDs.
• Why illiquid NFTs will need bigger baskets in order to create loan to value ratios.
• Why DeFi is going to have to solve the question of how to provide under-collateralized loan problem with more than one transaction.
• Why establishing a credit money system on Ethereum should be the holy grail of DeFi.
• Why the ethos of open source, collaboration, and composability creates innovation on Ethereum and the network effect growth we are seeing in the DeFi space.
• How Aave is working on governance in 2020 and beyond to create a truly decentralized protocol.

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