Bankless AMA with Hart Lambur, Co-Founder of UMA Protocol
Feb 25, 2021
Hart Lambur, Co-founder of UMA Protocol and former Goldman Sachs bond trader, dives into the world of synthetic assets. He discusses how UMA innovates by creating modular pools that enhance security and versatility, contrasting this with traditional finance. Hart emphasizes DeFi’s potential to democratize accessibility, while addressing the challenges for individual investors. The conversation also touches on liquidity in synthetic assets and the future of Automated Market Makers, painting an optimistic picture for the evolution of decentralized finance.
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Trading Bonds at Goldman
- Hart Lambur, UMA's co-founder, traded government bonds at Goldman Sachs during the financial crisis.
- He even sold bonds to the Fed during their buyback programs.
DeFi Democratizes Finance
- DeFi democratizes finance, enabling anyone to create financial products.
- This contrasts with traditional finance, where access is limited to large institutions.
Derivatives and Systemic Risk
- The large notional value of derivatives often includes offsetting risks, leading to an inflated perception of market size.
- Lack of transparency in these offsetting risks contributed to the 2008 financial crisis.