Credio (by Untangled) is Standing for Re-election
Summary
Credio (by Untangled) is a risk curator and oracle. We have been a member of the Risk Committee, bringing our risk modelling, protocol engineering, and asset evaluation expertise to most of the community proposals over the last 6 months. We are standing for re-election to the Ethena Risk Committee.
Contributions
As an active member of the Backing Asset and Protocol Integration Subcommittees, we have worked on the following:
- Ethena supplying USDC/T to Aave, in response to Aave’s proposal, and subsequent requests to increase the supply cap
- Ethena supplying USDtb to Aave, and subsequent requests to increase the supply cap
- Assessment of Coinbase INTX as an eligible hedging venue
Ongoing work:
- Assessment of another CEX as an eligible hedging venue (work completed, pending publication)
- Ethena Backing Asset Framework: quantitative framework and threshold triggers for streamlined onboarding and management of backing assets (work completed, awaiting integration with contributions from other members)
- Ethena supplying stablecoin into another lending protocol (work commencing this week)
Why Credio?
We differentiate and complement other Risk Committee members in the following three areas:
- Builder to builder: We are builders ourselves. Our latest product, the Untangled Yield Layer, is built on top of yield protocols. It abstracts DeFi complexity into a single token, enabling curators to create, manage, and distribute yield products through a unified interface. We have integrated sUSDe into the Untangled Yield Layer.
- Quantitative and qualitative: As demonstrated in our contributions above, our work is heavily quantitative and data-intensive, powered by in-house risk models. We are also deeply experienced in qualitative, off-chain counterparty risk assessments due to our TradFi background.
- RWAs: Another core expertise lies in real-world assets such as tokenized money market funds, private credit, and structured finance. This aligns well with Ethena’s growing allocation to RWAs like BUIDL, the backing asset of USDtb.
We also do not have any potential conflicts of interest.
Conclusion
We value the importance of this committee’s role in decentralizing Ethena’s stablecoins, the nature of the work itself, and—last but not least—the collaboration with fellow committee members. Accordingly, we are seeking re-election and look forward to your continued support.