Sceptre & Ledger Works Partner to Re-invent Liquid Staking Risk Management

Sceptre, a liquidity staking platform, is partnering with Ledger Works (“LWorks”) as their strategic risk partner for their liquid staking platform in both the Flare and Kava ecosystems

By partnering with LWorks, Sceptre will receive comprehensive risk management coverage for their platform. Sceptre operations will be supported by LWorks’ RiskOps-as-a-Service platform. Leveraging deterministic and stochastic models, network-wide simulations, and real-time market surveillance to support the protection and growth of the platform

This enterprise-scale risk management will place Sceptre levels above any other protocol within Flare ecosystems regarding market surveillance

LWorks offers integrated risk management services that combine cyber, operational, and financial risk controls into a unified dashboard with real-time computational models and rules that enable continuous market surveillance for market-wide and decentralized finance (DeFi) protocol-specific risks.

Key features of Ledger Works solutions for Sceptre will include:

• Real-time market surveillance through intuitive dashboards and alerts
• Cyber risk monitoring alerts to identify potential exploits and vulnerabilities
• Operational risk monitoring alerts to identify protocol issues proactively
• Financial risk modeling to predict and respond to changing market activity
• Event response support services during extreme market conditions

LWorks is expanding its machine learning environment to leverage extensive data sets, existing rules, and financial models. This initiative aims to provide faster and more effective risk identification and response mechanisms.

Meanwhile, Ledger Works has over 100 years of combined experience in security, risk management, and big data systems. Their CEO, David Melnick, held a national partner role in Deloitte’s Enterprise Risk Services practice before launching Ledger Works.

Steve Elfanbaum, the chief technical officer (CTO), previously was co-founder and principal at Asynchrony Solutions. At the same time, their chief data scientist, Chintan Mehta, earned a Ph.D. from Princeton University and completed extensive postdoctoral work at Yale University.

Initially collaborating with the team while at Bridgewater Associates, Chintan brings his expertise in deterministic and stochastic modeling to coordinate the engineering and data science efforts at Ledger Works.

Alexander Elhorst, a core contributor at Sceptre, states:

“As a liquid staking protocol, it is imperative for Sceptre to effectively manage risk to protect our users and maintain healthy, active markets. We are thrilled to collaborate with the team at Ledger Works to ensure that our risk strategy enables us to do just that. With their offering of 24/7 market surveillance, expertise in risk management, security, and data analytics, coupled with their professional approach, we are confident that this partnership will propel Sceptre to even greater heights.”

David Melnick, the CEO of Ledger Works, added:
“The Ledger Works team is excited to collaborate with Sceptre on their liquid staking protocol. Their innovation and professionalism align perfectly with our team’s approach to Risk Management. By combining their DeFi experience with our comprehensive Risk Management solution, we can deliver a world-class offering to the market.”