Allez Labs is a DeFi risk management and curation firm. We oversee risk across approximately $3.4B of lending assets on six protocols and curate vaults and markets on Kamino and Exponent.
We work across the full lending stack: conducting asset due diligence, setting and validating the parameters that govern each market, and curating the vaults that allocate depositor capital into those same markets. Working both sides gives us first hand visibility into every exposure our depositors hold.
Before Allez, the team established and ran Aave's risk function, supporting lending markets that grew past $31 billion in supply. Today Allez is the appointed risk provider for Kamino and Venus, two of the largest lending protocols in DeFi.
DeFi Risk Management
We shape how protocols take and contain risk, from design input to live market calibration: asset and integration due diligence, gating constraints, calibration and validation of risk parameters, and real time analytics and alerts.
Curation
We work with asset issuers to build a solid DeFi ecosystem: we design the liquidity architecture, launch lending markets and vaults, and build structured products and strategies on top.
Advisory
We advise protocols, asset issuers, and institutions on growth strategy, market positioning, new product design, and risk posture.
Investor Relations
We provide independent, framework grounded reporting for investors and depositors: an outside risk perspective.
Since 2019, the team has managed lending risk through rapid growth, market dislocations, collateral depegs, liquidity shocks, and concentrated borrower exposures. These experiences directly inform how Allez assesses assets, sets market parameters, and manages depositor capital today.
Supported by senior specialists including Jan Osolnik (Senior Risk Manager, previously Block Analitica and Open Blocks) and Thomas Fevre (Data Engineer, previously Capital B).
| Period | Market event | Experience and outcome |
|---|---|---|
| 2020-2021 | Aave's rapid growth | Ran Aave's risk function through its rise, developing the asset assessment and parameter setting framework used to support that expansion. |
| 2021-2022 | Oracle manipulation and the Terra collapse | Developed cost and gain models of the oracle manipulation vector and tightened the exposed parameters. Recommended against listing UST as collateral, avoiding direct exposure to its collapse. |
| 2022 | stETH, Celsius, and 3AC deleveraging | Managed collateral, liquidity, and liquidation risk through a system wide leveraged unwind, with no bad debt across the relevant exposures under the team's mandate. |
| 2023 | USDC depeg and Curve concentration risk | Strengthened oracle protections after the USDC depeg and wound down concentrated CRV exposure in an orderly way. |
| 2024-2026 | Kamino's growth and Solana market stress | Scaled caps and onboarded collateral as Kamino grew into Solana's leading lending protocol. During the 2024 liquidation cascade, the market cleared without bad debt, informing additional stress and cascade modelling. |
Active across the full stack, both risk management and curation, from liquidity requirements to lending markets, vaults, and strategies, all with a risk first approach.
A proprietary Asset Risk Framework and monitoring infrastructure covering every collateral type including RWAs.
A track record across every major lending risk event since 2019.