Building formally verified infrastructure, writing about what compounds over time.

I am Federico Carrone. I started building companies in Buenos Aires, where the background assumption is that anything not designed to withstand failure will fail. That turned out to be a useful instinct for infrastructure work.

Right now most of my time goes to:

ProjectWhat it is
EthrexOne of the fastest Ethereum execution clients
ConcreteProgramming language with a formally verified kernel
LambdaworksCryptographic proof library used in production
Underwriting enginePowers Europe's largest revenue-based financing platform
Bank & paymentsReplacing broken financial rails in Latin America

But the range is wider than that: the holding company includes AI, gaming, wine, and culture alongside the technical work.

Main companies

LambdaClass

Protocol engineering, systems programming, and formal verification. We build Ethereum infrastructure, zero-knowledge cryptography, and the programming language Concrete. The work that others build on.

Levenue

Europe's largest revenue-based financing platform, processing over $1B in loans per year. I own part of it and built the underwriting engine.

Ergodic Group

A privately held holding company. Distributed systems, AI, gaming, wine, and culture. The common thread is things that accumulate value over time rather than deplete it.

The holding company is named after long-run convergence. The software company builds systems where correctness is proved, not hoped for. The writing explores why patience, formation, and friction matter more than speed. These are not separate activities. The same conviction runs through all of them: what survives contact with time is the only thing worth building.

How I think

There is a difference between lived time and measured time. Measured time is uniform and exchangeable. Lived time accumulates. Each cycle alters what follows, and learning only happens there. Most of what matters gets lost when lived time is forced into metrics and deadlines. Running companies while believing this is the first contradiction. There are others.

During the day I work on formal systems, proofs, type systems, verified kernels, domains where correctness can be checked rather than argued. At night I read thinkers who say certainty is impossible. Rigor when building, ambiguity when thinking. I switch between the two more than I blend them.

Dignity is not administered. Responsibility cannot be dissolved into structure. Individuals precede institutions morally. But the protocols we build are designed to make individual judgment unnecessary. They assume people will defect if they can and make defection structurally impossible. Systems that depend on everyone being good do not work. So we end up building a world that does not need the kind of person worth building it for.

I read Hayek on decentralized coordination and run a holding company. I write about patience and formation and track AI developments week by week. The company is named after long-run convergence. My own essays argue the long run might not exist anymore. Growing up in Argentina makes you suspicious of both difficulty as a filter and stability as a given. Broken money is not a test of character. It just breaks people.

I care less about how systems should work than how they actually do. Who they serve, who they leave behind, why the distance between intention and outcome never closes. You watch institutions fail in real time. After a while you stop expecting the state to rescue anyone. Markets are one of the best coordination technologies humans have produced, but I am not naive enough to think they fix themselves all the time. What remains is building things whose guarantees are structural, not promissory. Code that enforces rules is more honest than any institution that claims to.

Ideas matter only insofar as they survive contact with reality over time.

Topics I write about

AreaWhat's in it
Ethereum & crypto infrastructureExecution clients, ZKPs, rollups, institutional design
Finance & riskTail hedging, Jensen's inequality, Kelly criterion, convexity
Culture & philosophyPermanence, friction, formation, identity, erosion
Systems programmingCompilers, formal verification, type systems

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