Episode 387
Luuk Strijers (Deribit) on a New Model for Proof of Reserves (EP.387)
On The Brink with Castle Island · Castle Island Ventures
January 17, 202339m 21s
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Show Notes
Deribit Chief Commercial Officer Luuk Strijers joins the show to talk about their new Proof of Reserve rollout. In this episode:
- Why Deribit decided to do a PoR
- What were the considerations going into it? What made Deribit cautious about the procedure?
- Which PoRs did Deribit look at for inspiration?
- Has Deribit received client feedback from the procedure so far?
- How does Deribit demonstrate asset ownership?
- Unique among exchanges, Deribit was able to do a PoR for all of your assets, and on a daily basis. How did they manage this?
- Why Deribit chose to release the full list of liabilities
- How does Deribit achieve end user privacy given the full liability dump?
- What data, if any, is leaked by the attestation?
- Did you look at audit firms in terms of supervising the PoR? Why did you go the auditless approach?
- Does Luuk anticipate moving to ZK proofs for liabilities eventually?
- How can PoR be improved?
Related episodes:
- OTB 180, The Auditor view of PoR
- OTB 212, The Proof of Reserve Restoration
- OTB 283, Jeremy Welch (Kraken) on Contemporary Proofs of Reserve
Related content:
- Nic Carter on Medium, The Status of Proof of Reserve as of Year End 2022