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On The Brink with Castle Island
Michael Bentley (Euler) on Modular Lending (EP.552)
Aug 15, 2024
Michael Bentley, Co-Founder & CEO of Euler, shares his journey from research scientist to crypto lending innovator. He discusses the evolution of decentralized lending, highlighting the launch of Euler v2 and its modular approach to finance. Bentley dives into the interplay of DeFi and biological concepts, explaining autonomous interest rate settings. He reflects on resilience learned from a significant security exploit and touches on the future of DeFi with growing institutional involvement and new innovations like Uniswap v4.
29:57
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Quick takeaways
- Michael Bentley discusses the evolution of decentralized lending, emphasizing the importance of spontaneous interest rate emergence compared to centralized finance.
- The resilience of the Euler team in overcoming a significant security exploit led to improved security practices and the development of Euler V2.
Deep dives
Michael Bentley's Journey into Crypto
Michael Bentley, the founder of Euler, began his journey into the world of cryptocurrency in 2015 as a skeptic but became intrigued by Ethereum in 2017. His background as a research scientist at the University of Oxford, focusing on mathematical modeling of biological populations, provided him with a strong foundation in game theory and system dynamics. Bentley’s experience led him to participate in hackathons, where he met his co-founder Doug and they developed their ideas around a decentralized lending protocol. This collaboration peaked during the pandemic, ultimately resulting in the launch of Euler in 2021.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode