Why Crypto Needs Interest Rate Swaps | Thomas Lefort

Gm! In today’s episode, we’re joined by Thomas Lefort, Co-Founder of Exponent, to discuss the evolution of onchain interest rate markets, the limitations of Exponent’s first product iteration, and the launch of Exponent V2. We cover fixed-rate DeFi infrastructure, RWAs, strategy vaults, risk management, institutional adoption, and the growing demand for more sophisticated yield products on Solana. Enjoy! -- Follow Lightspeed: ⁠https://x.com/Lightspeedpodhq Follow Exponent: https://x.com/exponentfinance Follow Thomas: https://x.com/ttrofel Follow Danny: https://x.com/defi_kay_ Join the Lightspeed Telegram: ⁠https://t.me/+QHlbNTNS4gc1ZTVh -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: ⁠https://blockworks.co/newsletter/⁠ -- Timestamps: 0:00 introduction 1:18 Thomas Enters Crypto 2:48 Why Exponent Exists 5:05 V1 Fixed-Rate Markets 9:36 RWAs Drive Yield Demand 14:06 Exponent V2 Rebuild 18:06 Strategy Vault Launch Partners 22:11 V2 Launch Timeline 25:41 Why Crypto Rates Lag 30:03 Managing DeFi Risk 37:07 Winning Issuer Distribution 43:59 What Assets Come Next 48:28 Closing Comments -- Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Danny, and our guests may hold positions in the companies, funds, or projects discussed.