Kedian Sun is a technology entrepreneur and co-founder of Level, a stablecoin protocol. ^{[3] [4]}

Education

Sun graduated from The Wharton School with a Bachelor’s degree. ^[1]

Career

Sun's career began in 2014 with an investment internship at Elevation Capital Management in Auckland, New Zealand. This experience led to a summer analyst role at Cameron Partners in Auckland in 2015. In 2016, Sun moved to New York City to join Lazard, where he spent over three years in investment banking. He then transitioned to Brex in 2019, assuming an operations role within the fintech company. After more than two years at Brex, Sun co-founded Peregrine Exploration, Inc. in December 2021, where he helped develop Level, a stablecoin protocol that issues lvlUSD to generate yield.

After several earlier iterations, Level launched in August 2023. Sun’s shift toward stablecoins was sparked by a significant market event, which led him and his co-founder to explore stablecoin use cases more deeply. Despite initially having little interest in the sector, this event prompted them to pivot and focus on building within the stablecoin space. Before settling on the current Level iteration, they experimented with several models. One early attempt involved a treasury-backed stablecoin, similar to Agora USD, which used treasury yields to compensate distribution partners driving adoption. However, they found limited interest in DeFi, where users were less motivated by modest yields during a bear market. They also explored adoption through fintech apps and made efforts with institutions, but faced challenges in gaining traction. Despite these setbacks, they remain optimistic about the potential of the treasury-backed model. ^[2] 

Interviews

About Level

On the More than Speculation podcast, Sun discussed his background and the development of Level, a stablecoin protocol he co-founded. Originally from New Zealand and with a background in finance and fintech, Sun transitioned into the crypto space in 2021. The protocol issues Level USD, allowing users to mint the stablecoin using USDC and USDT, which are then used to generate yield through lending protocols. He noted that the platform has seen rapid growth, achieving a market cap of $107 million and integrating with several DeFi protocols. The conversation highlighted the importance of community engagement, product-market fit, and strategies for stablecoin growth, particularly through lending protocols to minimize risks and maintain transparency. Sun also reflected on previous pivots and experiments with different business models before settling on their current approach, emphasizing the significance of yield-focused use cases in the competitive stablecoin landscape. ^[2]