Crypto Promised Freedom.
It Delivered Exit Liquidity.
We didn't start Exchequer with a whitepaper. We started it in the trenches.
We are builders, quants, and degens who watched the same tragedy play out a thousand times: A great team launches a token. The chart goes vertical at TGE. Then the "Mercenary Capital" arrives. They farm the yield, dump the token, and rotate to the next ticker, leaving the true believers holding the bag.
The system was rigged to favor the dumper over the holder. We decided to break that cycle.
The Collision of Two Worlds
Exchequer exists because two very different types of expertise collided in a late-night postmortem of the DeFi market.
Jan Pevzner (The Quant)
Jan spent 25 years in the engine room of global finance—Deutsche Bank, Salomon Brothers, and Halo Investing. He lived through the Japanese bear markets, where he saw how banks used Principal Protection to attract capital when no one wanted to take a risk. He knew that "safe growth" was an engineering problem, not a magic trick.
Guyi Shen (The Operator)
Guyi was on the front lines of the DeFi Summer. As a founder (Swerve Finance) and governance veteran (YFII, ESD), he saw firsthand how "renting liquidity" with high APY emissions was a death sentence. He knew that for a project to survive, it needed Sticky Liquidity—holders who were mathematically incentivized to stay.
The Question: "Can we take the safety mechanics of institutional finance and put them purely on-chain, without the middlemen?"
The Answer: Protected Growth Token (PGT).
What We Built (And Why)
We didn't build another yield farm. We didn't build a "points program." We built Financial Rails.
We built a protocol that allows any project to issue Structured Products—tokens that combine the upside of a moonshot with the safety of a bond.
No Gatekeepers
We replaced the Investment Banker with a Smart Contract.
No Backroom Deals
We replaced opaque market-making agreements with transparent on-chain collateral.
No PVP
We replaced "Player vs Player" dumping with aligned incentives.
Ready to Break the Cycle?
Discover how Protected Growth Tokens can transform your project's liquidity strategy.