Our guest today is Max, co-founder of Overnight protocol. Overnight's flagship product is USD+, a fully collateralized stablecoin that pays its holders daily yield by deploying its collateral into different strategies on-chain. 

In this conversation we explore, how Overnight works, what makes them unique, and how the idea of a yield-bearing stablecoin came about. We also dive into how Overnight thinks about risk management, their risk framework for assessing a new protocol and some of their plans for the future.