LlamaRisk@LlamaRisk
As 2025 draws to a close, we want to express our deepest gratitude to our clients, partners, and fellow service providers building alongside us. From launching LlamaGuard NAV to expanding our team, we are forging a safer DeFi future.
Read our full end-of-year statement below 👇
As we close the year, we’ve found ourselves returning to a simple idea that has grounded us throughout 2025: our work is fundamentally an act of service to the people who build, secure, and rely on open financial systems.
DeFi is often described in terms of protocols, models, or code, but what inspires us most is the human network behind it: clients, partners, our fellow service providers, and the DeFi users who depend on the systems we help safeguard. This community constitutes a large extended family, and we are grateful to play our small part in supporting it.
Thank you for trusting us, challenging us, collaborating with us, and sharing in our vision for a safer, more transparent, and more resilient on-chain world.
Highlights this Year
This year marked meaningful steps forward in our mission: Make DeFi win through transparent and rigorous risk management.
🔹 Onboarded as Risk Partner for Aave Horizon
Horizon represents the frontier of TradFi–DeFi convergence, and we’re honored to serve as its risk partner. Our work spans onboarding asset issuers, implementing risk alerting systems, managing protocol parameters, and helping to ensure safe and competitive growth for the ecosystem’s leading institutional venue.
🔹 Launched LlamaGuard NAV on Aave Horizon
We introduced LlamaGuard NAV, a next-generation risk-aware NAV oracle developed with our partners Chainlink Labs and Aave Labs. As DeFi applications scale into more complex data environments, real-time, transparent risk intelligence becomes core infrastructure — and we’re proud to contribute to that foundation.
🔹 Expanded Real-Time Transparency with PoR Systems
Our independent PoR work with Ethena strengthened our conviction that the industry needs robust, credibly neutral, high-frequency reserves attestations. This year’s progress set the stage for a generalized, automation-ready PoR framework that can support a broad set of issuers and markets. Stay tuned for exciting updates on this topic.
🔹 Prepared Curve for LlamaLend V2
We supported Curve with research for safe debt ceilings, oracle configurations, and market parameterization for LlamaLend V2. We also developed new interest rate models for looping markets and built the risk foundations for PT markets — now progressing through audit.
A Year of Collaboration
We’re grateful to our core partners for the collaborations and your continued trust in us this year: @aave, @chainlink, @CurveFinance, @ethena 🎄
As a small nod of appreciation, our holiday card features ornaments representing teams we believe exemplified excellence this year. We’re grateful to be learning from and building with you.
Every step forward this year was shaped by the teams who worked alongside us — developers, asset issuers, risk contributors, growth teams, and service providers. Whether we were designing collateral methodologies, refining PoR standards, or implementing new risk primitives, your insight and partnership consistently elevated the work.
In a year defined by rapid innovation and increasing complexity, your partnership grounded us. It reinforced our belief that DeFi thrives when we operate as a true extended family: supporting one another, learning from one another, and working collectively to make the ecosystem safer and more resilient for everyone.
Looking Ahead
In 2025, we focused deeply on a small group of core protocol partners, investing in their systems and communities. That commitment remains unchanged. But the demand for reliable, real-time risk tooling continues to grow — and with it, our responsibility to support a larger share of the ecosystem.
To meet this need, we’re expanding LlamaGuard automations, transforming our methodologies into scalable, on-chain risk infrastructure. Our roadmap includes:
Risk-managed price feeds that strengthen oracle reliability and market integrity
A generalized proof-of-reserves framework adaptable to diverse issuers and asset structures
Automated implementations of risk methodologies, enabling continuous, verifiable oversight at protocol scale
Delivering these systems requires close collaboration across the stack: working with Chainlink on foundational automation and oracle infrastructure; partnering with risk and growth teams to operationalize their methodologies; and supporting asset issuers in meeting the increasingly rigorous expectations of their clients.
Our goal is straightforward: scale high-quality risk management to more protocols, more assets, and ultimately more users. By extending our reach without sacrificing depth, we plan to maximize the benefit to the millions of people who rely on DeFi every day.
We’re Hiring
The industry’s growing focus on responsible risk management has led to a significant expansion in demand for our work — and we’re scaling our team accordingly.
In 2026, we’re hiring across:
Quantitative Research
Backend & Smart Contract Engineering
Business Development
Marketing & Communications
If you’re energized by the challenge of building the risk infrastructure that will underpin the next decade of DeFi, we’d love to hear from you. Visit our careers page or reach out on Telegram.
Final Thoughts
As we enter the new year, we remain committed to:
putting people at the center of our risk frameworks,
building tools that empower protocols and users alike,
strengthening the foundations of open, transparent finance, and
serving this extended family with humility, rigor, and heart.
Thank you for being part of our journey.
Wishing you a warm and restful holiday season — from all of us at LlamaRisk.
Here’s to a safe, collaborative, and inspired 2026. ❤️
