Stani Kulechov

Stani Kulechov is the Founder and CEO of Aave, a decentralised finance (DeFi) platform that allows users to lend and borrow cryptocurrencies without intermediaries. Originally launched as ETHLend in 2017, Aave was rebranded in 2020 and quickly became one of the most widely used DeFi applications. 

Aave enables users to lend, borrow, and earn interest on their crypto assets using smart contracts. In addition to Aave, Stani founded Avara, the software company behind the Aave protocol, stablecoin GHO, and the Lens Protocol, a decentralised social media platform.

Stani is also a prominent thought leader in the blockchain space, often speaking at industry events on topics such as Ethereum smart contracts and decentralised finance. His work has earned him recognition in Cointelegraph’s Top 100 list for three years and a place in CoinDesk’s Most Influential 2021 list. He is an active investor and mentor, backing numerous DeFi projects such as Lido, Slingshot, and Maple.

Born and raised in Finland, Stani’s early exposure to technology sparked his interest in coding. He later studied law at the University of Helsinki, where he discovered Ethereum and became involved in DeFi. Stani's professional journey includes a focus on bridging technology, law, and finance, notably through smart contracts.

Stani Kulechov is a renowned entrepreneur and thought leader in the world of decentralised finance (DeFi) and blockchain technology. He is the Founder and CEO of Aave, a pioneering decentralized peer-to-peer lending platform, and Avara, the company behind Aave and the Lens Protocol. Stani is widely recognised for his work in blockchain-based solutions, particularly in the DeFi sector, where he has contributed to the development of numerous blockchain protocols and financial products.

Born and raised in Finland, Stani Kulechov had an early exposure to technology. His father bought him and his brother a computer, sparking his interest in the internet and technology. He became an avid gamer, captivated by the global connectivity that gaming communities facilitated. At the age of 12, Stani began building web pages using PHP, which was an early step in his path towards a career in tech.

Stani later expanded his technical skills, learning Ruby on Rails, which had been the foundation of Twitter’s early development. At 15, he made the decision to drop out of high school for a year to pursue his passion for coding, building an experimental application for users to buy how-to guides online. He eventually returned to complete his high school education and later went on to study law at the University of Helsinki. He earned his Master's degree in Law in 2020, writing his thesis on using technology to make commercial agreements more efficient.

While at university, Stani discovered Ethereum and became deeply interested in the potential of decentralized finance (DeFi). He was particularly fascinated by the possibility of creating self-executing legal agreements through smart contracts, which bridged his interests in law, finance, and technology. This led him to conceptualise and launch ETHLend in 2017, a platform that would allow users to borrow and lend cryptocurrency without the need for a traditional financial institution.

ETHLend was one of the first widely used DeFi applications and raised $16.2 million in an ICO. The platform was later rebranded as Aave, a name derived from the Finnish word for "ghost". In January 2020, Aave was launched on the Ethereum network, with the goal of creating a decentralized lending protocol where users could lend, borrow, and earn interest on cryptocurrency assets without involving intermediaries like banks. Aave operates as a non-custodial liquidity market protocol, where suppliers provide funds to liquidity pools in exchange for rewards, and borrowers can access loans by using their crypto assets as collateral.

Under Stani's leadership, Aave introduced several groundbreaking features. In October 2020, the company launched its governance token, AAVE, allowing users to participate in the decision-making processes of the protocol. The AAVE token is also traded as a financial asset, with its value tied to the success and adoption of the Aave protocol.

In February 2023, Aave launched a native stablecoin, GHO, adding another layer of functionality to the ecosystem. In addition to these innovations, Stani has been an advocate for the growth of decentralized solutions, especially in the realms of social media. In the wake of his temporary suspension from Twitter, Stani emphasised the importance of decentralised social networks, which led to the launch of the Lens Protocol.

Lens Protocol is a Web3 social media platform built on the Polygon network. The protocol allows developers to create decentralized social media networks where users own their data. Stani believes that, just as DeFi allows users to have ownership of their assets, Lens enables users to take control of their content and profiles.

Beyond his work with Aave and Lens, Stani Kulechov is an active seed investor and mentor within the DeFi space. He has provided capital and advice to numerous projects, including Lido, a DeFi and staking protocol; Maple, an Australian finance firm with a token-governed platform; Slingshot, a crypto swapping protocol; and Swivel, a yield-generating DeFi protocol. Stani's ability to spot potential in emerging DeFi projects has solidified his reputation as one of the leading voices in the space.

Stani is a frequent speaker at global blockchain, crypto, and fintech events, where he shares his expertise on decentralised finance, Ethereum smart contracts, and the future of web3 technologies. His contributions to the DeFi ecosystem have earned him a place on Cointelegraph’s Top 100 list for three consecutive years, and he was named one of the most influential figures in the crypto space by CoinDesk in 2021.

Stani Kulechov has focused on creating a more open, decentralised internet through his work with Aave and the Lens Protocol. His vision is to build a people-powered internet where users have control over their financial assets and personal data. He believes decentralisation is key to providing fairer, more accessible solutions, both in finance and social media. By combining blockchain technology with financial systems and digital content, Stani aims to reduce the influence of centralised authorities and empower individuals. His projects, such as Aave and Lens, represent his commitment to revolutionising the way people interact with both finance and the internet.

Stani Kulechov has been recognised as a leading figure in the cryptocurrency and decentralized finance (DeFi) sectors. In 2021, he was named one of CoinDesk's Most Influential individuals, highlighting his significant impact on the industry. Additionally, Stani was featured in Cointelegraph’s Top 100 Notable People in Blockchain for three consecutive years, from 2021 to 2023, underscoring his sustained influence and contributions to the blockchain ecosystem.