I often say:

Finance is 90% getting the accounting right.

Behind every payment, trade, or withdrawal are a few basic questions. Where are the assets? Who has a claim on them? Who is allowed to move them?

CavalRe Ledger is a standalone product that helps financial applications answer those questions. It holds digital assets and keeps the accounts that record how those assets are allocated. Its first implementation runs on Solana.

Ledger uses double-entry accounting, where every change has an equal debit and credit. It also introduces an accounting innovation: a tree of accounts whose debit and credit balances describe what exists now, all the way up to the total.

Here is what that means in practice.

Scope: Historical account from July 2022. Product and launch descriptions reflect that time. For the current model and testnet, see Quote Engine and Testnet Demo.

Hello everyone and welcome to the CavalRe! 🤠

In this article, I'd like to introduce myself, introduce the CavalRe, why we're here and what our vision is for the future of decentralized capital markets.