Agents are now the main users. The question driving everything we're building at Cork: how does risk get priced when both sides of every trade are machines? My full talk from @AgenticSummit

Keynoting at @AgenticSummit, hosted by @Microsoft in NYC tomorrow at 4PM ET Agents are already managing risk onchain but their only tool is exit, and when that's everyone's only tool it turns into a stampede Cork is building the toolkit they don't have yet

Studying history is important, because it lets us understand the shape of how change works. Make risk markets programmable onchain is going to open up so many new possibilities the same way actuarial science and probability theory did.

When yields are high, everyone assumes the risk must be high to match. When yields compress, everyone assumes the risk has compressed too…..except that’s not actually how it works!

We’re in a different phase of crypto. The new wave of everyday users expect different features and guardrails than the earliest waves of crypto. We’re seeing more and more the acceptance of protocols taking authoritative measures to protect users. Just recently, Circle came under fire for not pausing USDC transfers after the Drift exploit. This is an expected change in user expectations; we need crypto to operate more like functional and trustworthy financial services. But it’s also another reaction to DeFi’s absence of any robust risk-management layer. The solutions that crypto continues to default to are binary extremes: pause funds or don't, extract liquidity or keep it onchain.