Teller is a non-custodial lending book that facilitates decentralized finance (DeFi) loans on Ethereum and Polygon. Operating out of San Francisco, Teller provides an open platform where users can lend and borrow digital assets without relinquishing control of their funds to an intermediary.
How does Teller work?
Teller's protocol enables peer-to-peer lending and borrowing by connecting liquidity providers and borrowers directly through smart contracts on blockchain networks like Ethereum and Polygon. As a non-custodial solution, Teller ensures users retain ownership of their assets throughout the lending process, mitigating counterparty risk and enhancing security.
The platform is designed to allow participants to engage in DeFi strategies efficiently. For example, Teller enables holders of tokens such as mpETH to access liquidity or earn yield without having to sell their underlying liquid staking tokens (LSTs). As Claudio Cossio, CEO of Metapool, puts it: "Teller allows mpETH token holders to engage in DeFi strategies without selling the LST, now anyone can participate as liquidity provider to earn yield with mpETH."
Who uses Teller?
Teller caters to users and organizations looking to participate in decentralized lending and borrowing markets. This includes individual DeFi participants, liquidity providers, and those who wish to generate yield on their digital assets. Notable users and early adopters include individuals such as Mason Cagnoni, MLB.eth, and Claudio Cossio, indicating a focus on crypto-native professionals and projects.
What makes Teller unique?
- Non-custodial infrastructure: Users maintain full control over their assets.
- Multi-chain support: Operates on both Ethereum and Polygon, two leading blockchain ecosystems.
- Flexibility for DeFi strategies: Especially beneficial for holders of liquid staking tokens (LSTs) who want to leverage their assets without selling them.
Leadership Team
Teller was founded by individuals with significant experience in DeFi and blockchain. Mason Cagnoni, also known for his role as COO of Wasabi, and Claudio Cossio, CEO of Metapool, bring industry expertise and connections to the project, helping to shape Teller’s approach to decentralized lending.
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