The Interop

Programmatic Monetary Policy for Protocols with Max Einhorn of Valence


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Valence enables programmatic economic relationships between protocols. This allows crypto-native institutions (e.g., appchains & DAOs) to engage in complex financial interactions.

Valence is live today with two sub-protocols in private beta: 

  • The Rebalancer lets protocols set desired portfolio targets and efficiently rebalance over time. 
  • Covenants enable crypto-native institutions to lend protocol-owned liquidity (POL).


A key innovation is the ability to create POL markets, which is crucial for restaking. Valence ensures AVSs know exactly how much liquidity they will receive, making restaking protocols more attractive and generating new revenue sources.

Valence is to liquidity what EigenLayer is to security.

Beyond restaking, Valence enhances alignment between ecosystems and drives the future of the decentralized economy.

Learn how Valence’s crypto-native institutional debt markets improve cross-ecosystem alignment and drive the future of the DeFi economy.


Consider staking with Interop Ventures

TOPICS
00:00 Introduction
02:06 Building Timewave & Valence
07:37 Valence Endgame
13:05 Bringing Institutional Capital to Crypto
16:55 What Valence Enables
22:09 Rebalancer
24:53 Covenants
31:04 Expressing Intent
38:16 Valence Architecture
41:07 Cosmos Hub Outlook
52:17 Protocol Monetary Policy
58:10 Final Thoughts

LINKS
Valence Protocol

GUESTS
Max on Twitter

SOCIAL MEDIA
Sebastien Couture
The Interop

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The InteropBy Interop Ventures

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