Kinetic, the premier algorithmic non-custodial lending platform on the Flare Network, is partnering with Ledger Works (“LWorks”) to enhance its risk management strategy.
By integrating with LWorks’ RiskOps-as-a-Service environment, Kinetic will benefit from continuous execution of machine learning-based models and continuous controls monitoring (CCM) for protocol and market surveillance, improving situational awareness and more effectively managing market risk.
LWorks will support Kinetic with quantitatively defined parameter recommendations for collateral factors, borrowing limits, and more. The use of deterministic and stochastic models, network-wide simulations, and real-time market surveillance will help Kinetic minimize market challenges.
This enterprise-scale risk management solution will elevate Kinetic above other cross-chain lenders. LWorks provides integrated risk management services that combine business, protocol, and market financial risk controls into a unified dashboard with real-time computational models and rules, enabling continuous protocol and market surveillance. Key features of LWorks’ solutions for Kinetic include:
Real-time market surveillance through intuitive dashboards and alerts.
Risk-based business monitoring to identify operational vulnerabilities.
Comprehensive protocol alerts for proactive smart contract issue identification.
Advanced ML-based financial risk models for protocol configuration, optimization, and risk management.
LWorks continually develops new and innovative financial models to solve the toughest Web3 challenges.
Ledger Works has over 100 years of combined experience in security, risk management, and big data systems. Their CEO, David Melnick, held a national partner role in Deloitte’s Enterprise Risk Services practice before launching Ledger Works. Steve Elfanbaum, the chief technical officer (CTO), previously was co-founder and principal at Asynchrony Solutions.
Their chief data scientist, Chintan Mehta, earned a Ph.D. from Princeton University and completed extensive postdoctoral work at Yale University. Initially collaborating with the team while at Bridgewater Associates, Chintan brings his expertise in deterministic and stochastic modeling to coordinate the engineering and data science efforts at Ledger Works.
Jake Hunsbusher, a core contributor at Kinetic, states:
“For a lending protocol, security is paramount. You do not just want to check a few boxes and move on, you want near-constant support and surveillance of what is currently happening on the network. Ledger Works provides an active approach to risk management which is essential for identifying and stopping issues before they begin. We are excited to be working with them and to incorporate their expertise into our platform.”
David Melnick, the CEO of Ledger Works, added:
“The Ledger Works team is excited to collaborate with Kinetic. Their innovation and professionalism align perfectly with our team’s approach to Risk Management. By combining their DeFi experience with our comprehensive Risk Management solution, we can create added value for their customers and the broader Polygon community.”
About Ledger Works
Ledger Works helps our customers focus on growing their Web3 business while we run their Risk Operations. Today more than ever, our customers’ success requires effective Risk Management. As their strategic risk partner, we help optimize financial performance while minimizing risk of loss. By leveraging real-time computational rules, continuous execution of deterministic and simulation models, and real-time market surveillance, Ledger Works empowers businesses to turn risk into a competitive advantage.
For more information, visit: lworks.io
Contact
Press@lworks.io
About Kinetic
Kinetic, the premier lending protocol on the Flare Network, allows users to engage in permissionless lending and borrowing of digital assets on the Flare Network. Experience a secure and flexible financial ecosystem, earn yield by lending assets, gain leverage by borrowing, all without relying on a third party.