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
SpawnedRust library for Erlang-style concurrency boundaries
CommitLLMCryptographic commit-and-audit protocol for open-weight LLM inference
CommitBoostEthereum validator sidecar for community-built proposer commitment protocols
Options Portfolio BacktesterOpen-source options backtester with realistic execution and a Rust core
Underwriting enginePowers Europe's largest revenue-based financing platform
Bank & paymentsReplacing broken financial rails in Latin America

The technical work is the spine, not the whole. AI, gaming, wine, and culture sit next to it, held together by the same question: what still has value when fashion moves on.

Main companies

LambdaClass

I started LambdaClass to do the work others build on. Protocol engineering, systems programming, formal verification. Ethereum infrastructure, zero-knowledge cryptography, the Concrete programming language.

Levenue

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

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. The book on my nightstand and the pull request open in my editor are usually arguing with each other.

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.

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

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.

For years I thought building was enough. I am less sure now.

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

Start here

ReadWhy
Crypto doctrineThe single essay if you want the worldview on crypto, money, and where it actually found product-market fit.
LeptokurticFat tails, twenty centuries of financial data, and the geometry that ties it together. Four episodes.
Les Circuits LongsThe philosophical thread: dissolution at machine speed, construction at biological speed, what happens between them.
ConcreteA systems language built so the compiler can say more than pass or fail. The clearest entry into the technical work.

Find me

I read everything that gets sent to my email. I reply when I can — sometimes it takes weeks.