Key Takeaways
- Hover partners with Ledger Works for advanced risk management ahead of Kava EVM launch.
- Ledger Works provides 24/7 risk coverage and parameter recommendations for Hover’s markets.
- Ledger Works offers comprehensive risk management solutions, including real-time surveillance and event response.
- The collaboration combines experienced teams to ensure effective risk management and propel Hover and Kava ecosystem.
Hover, a non-custodial liquidity market, has partnered with Ledger Works to enhance its risk management capabilities in preparation for the launch of its protocol on Kava EVM in the summer of 2023.
Through this partnership, Hover will benefit from 24/7 risk management coverage for all markets listed on its platform, including KAVA, ATOM, and native USDT.
Ledger Works will provide quantitatively-defined parameter recommendations for collateral factors and borrow limits, leveraging techniques such as deterministic financial models, stochastic modeling, network-wide simulations, and real-time market surveillance to minimize Hover’s exposure to market challenges.
Ledger Works offers integrated risk management services that combine cyber, operational, and financial risk controls into a unified dashboard.
Their solutions provide real-time market surveillance, cyber risk monitoring, operational risk monitoring, and financial risk parameter recommendations.
They also offer event response support services during extreme market conditions.
Ledger Works is expanding its machine learning environment to improve risk identification and response mechanisms by leveraging extensive data sets, existing rules, and financial models.
Ledger Works boasts a highly experienced team with expertise in security, risk management, and big data systems.
Led by CEO David Melnick, who previously held a national partner role in Deloitte’s Enterprise Risk Services practice, the team includes CTO Steve Elfanbaum, a Co-Founder and Principal at Asynchrony Solutions, and Chief Data Scientist Chintan Mehta, who has a Ph.D. from Princeton University and extensive postdoctoral work at Yale University.
Hover’s collaboration with Ledger Works aims to ensure effective risk management for the lending protocol, protecting users and maintaining healthy markets.
The partnership is expected to propel both Hover and the Kava ecosystem to greater heights by leveraging Ledger Works’ 24/7 market surveillance, risk management expertise, security measures, and data analytics capabilities.
David Melnick emphasized that the combined strengths of Hover’s DeFi experience and Ledger Works’ comprehensive risk management solution will deliver a world-class offering to the market.
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