"When Kellar and his co-founders created Indexed, they imagined it as a step forward for DeFi, or decentralized finance, a blockchain-based movement that purports to offer a more automated, less intermediated version of borrowing and lending, asset trading, and portfolio management. Some proponents take a utilitarian view of DeFi, considering it an improved version of traditional finance, with its fee-taking middlemen and sluggish human decision-making. Others are more libertarian, seeing DeFi as an escape from the existing system, a way of circumventing the rules and restrictions imposed by governments or corporations. Then there are the skeptics, who think it’s all a grift.

Kellar, who describes himself as “very progressive,” fits squarely into the utilitarian camp."