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Thomas Lefort
French Violinist
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May 28, 2026
Why Crypto Needs Interest Rate Swaps | Thomas Lefort
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5:05DannyHOST
Maybe just talk me through like Exponent V1, like i- in broad strokes, what did it solve for? Like what were the, what were the big, um, things that it enabled, you know, like a, a trader to do that they couldn't do before? And I don't know, where, where did you see success with that?

Thomas LefortGUEST
The, the main goal for us, again, was really to bring fixed rates to, to Solana a- and this ecosystem.

Thomas LefortGUEST
And so we, uh, tried to look back what, what has been tried in the past in, in crypto, and it's in yield strip, this yield stripping model, uh, that's, uh, some protocols have tried in the past, like Sense Finance, Elemental, uh, Element, Pendle, and so on, uh, was working.

Thomas LefortGUEST
I, I, I wouldn't say it was the best, uh, model, but it was, um, I mean, the most sophisticated model, but it was working and it was enough for us to get started and, and at least have a product we could use ourselves.

Thomas LefortGUEST
And then-Offer that to the, to the market and see if there's, uh, people interested as well into, into using those, uh, yield stripping instruments.
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9:51DannyHOST
Uh, do you think that is like compelling or do you see like, you know, tokenized equities and maybe even tokenized like bonds or something from companies coming on chain maybe providing interesting opportunities for these markets? Like where's your head at on where you think kind of like that next maybe layer of growth from, from an asset perspective comes?