Cicada

Cicada is an on-chain credit risk management company founded by a seasoned team of former buy- and sell-side credit professionals. Joining 35+ years of diversified experience in traditional lending markets, Cicada’s co-founders moved into crypto full time after realizing the improvements to both borrower and lender experiences that could result from leveraging a transparent public blockchains. ​ Created in the aftermath of FTX, Cicada facilitates the growth of institutional lending on public blockchains by managing credit risks and enabling lenders to participate in non-custodial lending products without paying excessive fees to intermediaries and assuming excessive counterparty risks along the way. ​ Cicada’s co-founders have deep crypto lending expertise, having underwritten $850m in loans at a 1.2% default rate in ‘21/’22.