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Will Villanueva
Will Villanueva is the co-founder and CEO of DELV (formerly Element Finance), a San Francisco-based decentralized finance company building fixed and variable yield markets on Ethereum. A physicist by training and former Ethereum researcher at ConsenSys, he co-founded Element Finance with Jonny Rhea in 2020 to bring fixed-rate income to DeFi. The company raised a $32M Series A in 2021 at a $320M valuation and later rebranded to DELV, whose flagship product Hyperdrive reimagines fixed and variable rate markets with an everlasting-liquidity AMM design.
DELV
DELV, formerly Element Finance, was a research-driven DeFi company that called itself 'the factory for DeFi.' Founded in 2020 by Will Villanueva and Jonny Rhea, it built open-source infrastructure for fixed- and variable-rate yield - most notably the Element Protocol, the Hyperdrive AMM, and the Council on-chain governance framework. Backed by a16z, Placeholder, and Polychain Capital with about $36.4M raised, the team pursued the idea that reliable fixed rates were essential to mainstream DeFi adoption. After a March 2025 Hyperdrive vulnerability and a conclusion that the product had not found market fit, DELV wound down operations in June 2025 with no reported loss of user funds.
Futureswap
Futureswap is a decentralized, non-custodial protocol for leveraged perpetual trading, letting users take long or short positions on crypto assets with leverage while liquidity providers earn fees and token incentives. Built by a small San Francisco team led by founder Derek Alia, it launched on Ethereum in 2020, later moved to Arbitrum and Avalanche for lower-cost transactions, and pioneered an AMM-based design that plugs into pools like Uniswap and Trader Joe. Backed by roughly $13.5M from investors including Ribbit Capital, Framework Ventures, True Ventures and Placeholder, it was governed by the community via its FST token.
Dan Robinson
Dan Robinson is a General Partner and Head of Research at Paradigm, one of the most influential crypto venture firms in the world. A former litigation attorney turned protocol engineer, he co-authored 'Ethereum is a Dark Forest' - the paper that defined MEV for the industry - and played a central role in designing Uniswap V2 and V3. Robinson joined Paradigm in 2019 as its first Research Partner, was later promoted to General Partner, and has published foundational work on MEV taxes, Gradual Dutch Auctions, and prediction market AMMs. His rare combination of legal training and deep blockchain engineering makes him one of crypto's most distinctive voices at the intersection of mechanism design and decentralized finance.
Dan Robinson
Dan Robinson is General Partner and Head of Research at Paradigm, one of crypto's most influential investment and research firms. A Harvard-trained lawyer turned protocol engineer, Robinson has co-authored landmark papers including the 'Ethereum is a Dark Forest' MEV essay, the Uniswap v3 whitepaper, and the Blend NFT lending protocol. His work sits at the intersection of mechanism design, mathematical finance, and open-source software - making him one of the rare figures who shapes both how DeFi protocols are built and how capital flows into them.