December 5, 2024, at 10 a.m.
Bonzo Finance, an open-source, non-custodial lending protocol with a mission to become the liquidity layer of Hedera and Supra, has partnered with LedgerWorks (“LWorks”) to strengthen with best-in-class risk management solutions. By leveraging LWorks’ enterprise-grade RiskOps service, driven by machine learning or advanced AI-driven quantitative models, Bonzo Finance gains critical situational insights to build protocol resilience and optimize financial outcomes.
With LWorks’ continuous risk parameter recommendations for key metrics including Collateral Factor, Liquidation Bonus, Reserve Factor and Borrowing Cap, Bonzo Finance can leverage machine learning algorithms (ML) from LWorks, which continually make data-driven adjustments to optimize Bonzo’s loans and lending. borrowing capacity. Continuous monitoring and updates, powered by ML, enable these metrics to dynamically respond to market changes, improving both protection and performance across the entire Bonzo ecosystem.
Additionally, LWorks will deploy protocols and market monitoring, providing Bonzo with proactive insights. Key features of LedgerWorks solutions for Bonzo Finance include:
- In real time market monitoring through intuitive dashboards
- Risk-based business monitoring to identify operational risks
- Controls, including sophisticated ML financial risk models supporting protocol configuration, optimization and risk management
These enterprise-level analytics set Bonzo Finance apart in the DeFi space, establishing a strategic advantage. This partnership reflects a mutual commitment to continued innovation, with LWorks investing in expanded AI capabilities to meet Bonzo’s evolving needs. LWorks continually develops new, 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, served in a national partner role in Deloitte’s Enterprise Risk Services practice before launching Ledger Works. Steve Elfanbaum, Chief Technical Officer (CTO), was previously co-founder and director of Asynchrony Solutions.
Brady Gentile, CEO and co-founder of Bonzo Finance Labs, says:
“The partnership with LedgerWorks represents a significant step forward in Bonzo Finance’s mission to become the liquidity layer of Hedera and Supra. Their enterprise-grade risk management solutions and deep expertise in quantitative modeling with machine learning and AI ensure protocol parameter optimization in real-time, while maintaining the highest security standards. This collaboration ensures that Bonzo Finance remains at the forefront of DeFi innovation while providing DeFi users and ecosystems with a robust and well-protected lending environment.
David Melnick, CEO of Ledger Works, added:
“We are excited to welcome Bonzo Finance to our growing network of partners on Hedera, where we already collaborate with leading platforms like SaucerSwap. Bonzo’s focus on secure and innovative solutions perfectly complements our mission to advance proactive risk management in DeFi. Together, by combining our RiskOps framework with Bonzo’s industry-leading platform, we are setting a new standard for risk resilience and intelligence in decentralized finance on Hedera.
About Ledger Works
Ledger Works helps our clients focus on growing their Web3 business while we manage their risk operations. Now more than ever, our clients’ success requires effective risk management. As a strategic risk partner, we help optimize financial performance while minimizing the risk of loss. By leveraging real-time calculation rules, continuous execution of deterministic and simulation models, and real-time market monitoring, Ledger Works enables businesses to turn risk into competitive advantage.
For more information, visit: https://www.lworks.io
Media contact
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About Bonzo Finance
Bonzo Financean open source, non-custodial lending protocol, aims to become the liquidity layer of Hedera and Supra. Bonzo prioritizes censorship resistance, security, and self-custody, allowing users to transact without relying on trusted intermediaries who can selectively restrict access.
Bonzo Finance uses Supra oracles which enable accurate and reliable pricing information for asset lending and borrowing, ensuring transparent and efficient operations within the protocol.
For more information, visit: https://bonzo.finance
Media Contact:
(email protected)
