[{"data":1,"prerenderedAt":326},["ShallowReactive",2],{"api/learn-center-post-en-GB-stani-kulechov":3,"en-gb/learn/people-profiles/stani-kulechov-en-GB-seo":57,"footer-en-GB":62,"navigation-en-GB-learn-center":235,"api/learn-categories-en-GB":286},{"seo":4,"locale":28,"breadcrumbs":29,"excerpt":37,"featuredImage":38,"components":39,"title":5,"formattedPublishedAt":50,"geofencings":51,"category":52,"pagination":54,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"Who is Stani Kulechov?","Who is Stani Kulechov? - Bitstamp Learn Center","Who is Stani Kulechov? What is his role in the DeFi community? Learn more about Stani Kulechov and start trading with Bitstamp by Robinhood.",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/Stani_Kulechovpng_a14d90466a_87dd39866b.png","image/png",".png",1920,1080,"Stani_Kulechovpng_a14d90466a.png","",[],[20,23,26],{"pathname":21,"locale":22},"/learn/people-profiles/stani-kulechov/","en",{"pathname":24,"locale":25},"/es/learn/people-profiles/stani-kulechov/","es",{"pathname":27,"locale":28},"/en-gb/learn/people-profiles/stani-kulechov/","en-GB",[30,34],{"id":31,"text":32,"url":31,"asUrl":33},"/learn/people-profiles/","People profiles",true,{"id":35,"text":5,"url":27,"asUrl":36},"stani-kulechov",false,"\u003Cp>Stani Kulechov is the founder and CEO of Aave, a decentralized peer-to-peer lending platform launched first on Ethereum and now available on several different blockchains. Originally released under the name ETHLend in 2017, it was one of the first widely used decentralized finance (DeFi) applications.\u003C/p>\n",{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},[40],{"component":41,"props":42,"content":43,"secondaryContent":47,"ctas":48,"secondaryCtas":49,"ctasNoMarginTop":36},"section.full-text",{"centered":36,"withoutSectionContainer":36},{"text":44,"width":45,"align":46},"\u003Cp>Stani Kulechov is the founder and CEO of Aave, a decentralized peer-to-peer lending platform launched first on Ethereum and now available on several different blockchains. Originally released under the name ETHLend in 2017, it was one of the first widely used decentralized finance (DeFi) applications.\u003C/p>\n\u003Cp>\u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-aave/\">Aave\u003C/a> allows users to participate as suppliers or borrowers. Borrowers get instant loans of cryptocurrency using other crypto they own as collateral while suppliers lend out their crypto and earn rewards. The transactions are executed automatically by smart contracts.\u003C/p>\n\u003Cp>Kulechov is a thought leader and investor in the DeFi space, giving frequent interviews and speaking at conferences. He is an active seed investor and mentor, providing both funds and advice to numerous DeFi projects.\u003C/p>\n\u003Cp>He was named on \u003Cem>Cointelegraph’s\u003C/em> Top 100 for the past three years and \u003Cem>CoinDesk\u003C/em>’s Most Influential 2021.\u003C/p>\n\u003Ch2>Personal history\u003C/h2>\n\u003Cp>Kulechov was born and raised in Finland. His father bought a computer for him and his brother to share in the early days of the internet. Kulechov became an avid gamer and was fascinated by the global connectivity that came from the gaming community.\u003C/p>\n\u003Cp>The brothers also started experimenting with the Linux operating system. By age 12, Kulechov was building web pages using the PHP scripting language. As the internet and social media grew in popularity, he moved on to learn Ruby on Rails, a web-application framework that Twitter was originally built upon.\u003C/p>\n\u003Cp>He notes that growing up in Finland provided him with a lot of opportunities as well as time to explore his hobbies. At age 15, he dropped out of high school for a year to work on coding and built an experimentational application for users to buy how-to guides online. He then returned to high school to finish his degree.\u003C/p>\n\u003Cp>Kulechov noticed the e-commerce, global markets, and crowdfunding sector expanding and wanted to explore the intersection of finance and technology. Enticed by the legal aspect of finance, he went to the University of Helsinki, eventually earning a master’s in law in 2020. He wrote his thesis on using tech to make commercial agreements more efficient.\u003C/p>\n\u003Ch2>Role in the cryptocurrency community\u003C/h2>\n\u003Cp>While at university, Kulechov discovered \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-ethereum-eth/\">Ethereum\u003C/a> and was drawn by the prospect of \u003Ca href=\"/en-gb/learn/web3/what-is-decentralized-finance-defi/\">decentralized finance (DeFi)\u003C/a>.\u003C/p>\n\u003Cp>He was particularly keen in building programs that contained a legal agreements that could enforce themselves through \u003Ca href=\"/en-gb/learn/crypto-101/what-are-smart-contracts/\">smart contracts\u003C/a>, bridging his interests in technology, finance, and law.\u003C/p>\n\u003Ch3>Aave\u003C/h3>\n\u003Cp>Kulechov thought that if users can exchange value on-chain, then they should be able to perform other tasks, such as borrowing funds using assets as collateral. The idea spurred him to create ETHLend in 2017 in the very early days of DeFi applications. A few months later, Kulechov raised $16.2 million in an \u003Ca href=\"/en-gb/learn/crypto-101/what-is-an-initial-coin-offering-ico/\">initial coin offering (ICO).\u003C/a>\u003C/p>\n\u003Cp>The project later rebranded to Aave, which is the Finnish word for “ghost” and was deployed on the Ethereum network in January 2020.\u003C/p>\n\u003Cp>Using \u003Ca href=\"/en-gb/learn/crypto-101/how-do-smart-contracts-work/\">smart contracts\u003C/a>, Aave lets users lend, borrow, and earn interest on cryptocurrency assets without involving a bank or middleman. Described as a non-custodial \u003Ca href=\"/en-gb/learn/crypto-trading/what-is-liquidity/\">liquidity\u003C/a> market protocol, suppliers supply funds to a \u003Ca href=\"/en-gb/learn/web3/what-are-liquidity-pools/\">liquidity pool\u003C/a> to earn rewards, while borrowers draw from the pools to take out a loan.\u003C/p>\n\u003Ch3>Aave tokens\u003C/h3>\n\u003Cp>Aave launched its own governance token, AAVE, in October 2020. Like many governance tokens, Aave is also traded as a financial asset whose worth was tied to speculation about the value of its protocol.\u003C/p>\n\u003Cp>The company also deployed a native stablecoin, GHO, in February 2023.\u003C/p>\n\u003Ch3>Twitter suspension\u003C/h3>\n\u003Cp>Kulechov was temporarily suspended from Twitter days after Elon Musk’s acquisition for sending tweets joking that he would become the interim CEO. The ban garnered significant publicity and spurred a heated debate on free speech in social media networks.\u003C/p>\n\u003Cp>Kulechov took the opportunity to highlight the potential of decentralized social networks that allow users more control and less censorship and are run by independent servers rather than a centralized entity.\u003C/p>\n\u003Ch3>Lens Protocol\u003C/h3>\n\u003Cp>A few weeks after his Twitter suspension, Aave released The Lens Protocol, a Web3 social media platform built on the \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-polygon-matic/\">Polygon network\u003C/a>. The protocol allows developers to create decentralized social media networks where users own their data.\u003C/p>\n\u003Cp>Kulechov said that Aave and Lens share the same mission: “We believe that the ownership of content and profiles should belong to you in the way that DeFi belongs to you.”\u003C/p>\n\u003Cp>The project received an investment from FTX Ventures, the venture capital arm of the FTX crypto exchange, prior to the exchange’s collapse in November 2022. &nbsp;The sum of the investment was never disclosed.\u003C/p>\n\u003Ch3>Investments and thought leadership\u003C/h3>\n\u003Cp>Kulechov is an active investor in the DeFi space, providing capital to dozens of projects. He has backed Lido, a DeFi and staking protocol; Maple, an Australian finance firm with a token-governed platform; Slingshot, a crypto swapping protocol; Swivel, another yield-generating DeFi protocol; and PoolTogether, a crypto savings protocol, among others.\u003C/p>\n\u003Ch2>Stani Kulechov essentials\u003C/h2>\n\u003Cul>\n\u003Cli>Kulechov is the founder and CEO of Aave, a peer-to-peer lending platform and one of the first widely used DeFi applications.\u003C/li>\n\u003Cli>After being banned from Twitter, Kulechov emphasized the importance of decentralized social media and released the Lens Protocol.\u003C/li>\n\u003Cli>He is an active investor and advisor to dozens of DeFi projects.\u003C/li>\n\u003C/ul>\n","full","left",{"text":17},[],[],"July 29th, 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20 3868 9628","+442038689628",{},{},{"noFollow":36,"isExternal":36,"name":224,"value":225,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":226,"geofencings":227},"+1 800 712 5702","+18007125702",{},{},{"noFollow":36,"isExternal":36,"name":229,"value":230,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":231,"geofencings":232},"+352 20 88 10 96","+35220881096",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"items":236,"ready":33,"platformButtonText":282,"backButtonText":283,"logInButtonText":284,"signUpButtonText":285},[237,242,248,251,255,260,265,268,273,278],{"headerName":238,"sidemenuName":119,"url":239,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":240,"submenu":241,"tag":17},"Institutions","/en-gb/institutional-trading/",{},[],{"headerName":243,"sidemenuName":243,"url":244,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":245,"submenu":246,"tag":247},"Derivatives","/perpetual-futures/",{},[],"NEW",{"headerName":134,"sidemenuName":134,"url":135,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":249,"submenu":250,"tag":17},{},[],{"headerName":252,"sidemenuName":252,"url":107,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":253,"submenu":254,"tag":17},"Mobile App",{},[],{"headerName":256,"sidemenuName":256,"url":257,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":258,"submenu":259,"tag":17},"Markets","/markets/",{},[],{"headerName":261,"sidemenuName":261,"url":262,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":263,"submenu":264,"tag":17},"Earn Stake","/en-gb/crypto-staking/",{},[],{"headerName":111,"sidemenuName":111,"url":112,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":266,"submenu":267,"tag":17},{},[],{"headerName":269,"sidemenuName":269,"url":270,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":271,"submenu":272,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":274,"sidemenuName":274,"url":275,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":276,"submenu":277,"tag":17},"Learn","/learn/",{},[],{"headerName":279,"sidemenuName":279,"url":107,"noFollow":36,"showInHeader":36,"showInSidemenu":33,"geofencings":280,"submenu":281,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[287,291,295,299,303,307,311,314,318,322],{"title":288,"url":289,"geofencings":290},"Blockchain technology","/en-gb/learn/blockchain/",{},{"title":292,"url":293,"geofencings":294},"Company profiles","/en-gb/learn/company-profiles/",{},{"title":296,"url":297,"geofencings":298},"Crypto 101","/en-gb/learn/crypto-101/",{},{"title":300,"url":301,"geofencings":302},"Crypto definitions","/en-gb/learn/crypto-definitions/",{},{"title":304,"url":305,"geofencings":306},"Crypto trading","/en-gb/learn/crypto-trading/",{},{"title":308,"url":309,"geofencings":310},"Cryptocurrency guide","/en-gb/learn/cryptocurrency-guide/",{},{"title":32,"url":312,"geofencings":313},"/en-gb/learn/people-profiles/",{},{"title":315,"url":316,"geofencings":317},"Security","/en-gb/learn/security/",{},{"title":319,"url":320,"geofencings":321},"Tutorials","/en-gb/learn/bitstamp-tutorials/",{},{"title":323,"url":324,"geofencings":325},"Web3","/en-gb/learn/web3/",{},1776263797599]