Luuk Strijers (Deribit) on a New Model for Proof of Reserves (EP.387) — On The Brink with Castle Island

Deribit (https://www.deribit.com/) 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