DeFi Operations Specialist
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In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. For more information on Bullish, please visit https://bullish.com . CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
Reports to:
Head of Exchange & Custody OperationsAbout Bullish & BTH
Bullish (NYSE: BLSH)is a premier, institutionally focused digital asset platform combining a high-performance central limit order book with decentralized finance (DeFi) liquidity mechanics under a robust regulated framework.
BTHis the strategic engine driving the Bullish Group’s proprietary trading, capital deployment, and treasury yield optimization. BTH is highly active across centralized and decentralized markets, utilizing advanced algorithmic liquidity provisioning and navigating dozens of DeFi protocols to maximize the capital efficiency of our native balance sheet.
Position Overview
We are seeking a highly analytical, execution-driven DeFi Operations Specialistto join BTH. This role sits at the intersection of traditional treasury management and cutting-edge decentralized finance. You will be responsible for the day-to-day execution, risk monitoring, and operational lifecycle of capital deployed across automated market makers (AMMs), lending/borrowing markets, and native yield protocols.
The ideal candidate possesses deep on-chain literacy, a firm understanding of crypto-economic incentives, and an institutional mindset regarding capital preservation, interest rate tracking, and risk infrastructure.
Note: This role can be based in the Cayman Islands or New York.
Responsibilities:
On-Chain Execution & Protocol Management: Safely execute capital deployment, rebalancing, supply, and borrow actions across major DeFi protocols (e.g., Aave, Morpho, Curve, Uniswap, etc.) under firm-approved guardrails.
Yield Optimization & Interest Rate Tracking: Actively monitor interest rate fluctuations, borrow costs, and utilization rates across different EVM and non-EVM networks. Identify inefficiencies and map out capital reallocation strategies to optimize net interest margins.
Wallet & Custody Operations: Manage institutional-grade multi-sig workflows, warm/cold wallet setups, and secure cross-chain bridging infrastructure. Assure strict adherence to operational security protocols.
Reconciliation & Settlements: Assist in daily reconciliation of deployed capital, collateral ratios, accrued interest, earned yield, and reward token harvests. Interface directly with internal accounting and finance teams.
Risk & Liquidation Monitoring: Proactively monitor health factors, collateralization ratios, and protocol-specific risk profiles (e.g., bad debt accumulation, oracle health, de-pegging risks) to prevent liquidation events.
Financial Modeling & Analytics: Maintain and improve quantitative models evaluating yield sensitivity, liquidity depth, and partnership economics for prospective new DeFi integrations.
Experience & Qualifications:
Ops Experience: 5+ years in a financial operations, trading support, or treasury management role, with at least 1-2 years of professional experience directly within Web3/DeFi.
DeFi Protocol Mastery: Deep knowledge of DeFI Protocols, lend/borrow dynamics (over-collateralization, variable vs. fixed rates) and yield mechanics (liquid staking/restaking tokens, LP provisioning).
On-Chain Literacy: Proficient with block explorers (Etherscan, Solscan, etc.), institutional infrastructure (Fireblocks, Fordefi), and hardware security modules.
Financial & Macro Acumen: Strong foundational knowledge of traditional finance principles, specifically yield curves, time-value of money, interest rate derivatives, and risk-adjusted return profiles.
Technical Skills: Advanced Excel/Google Sheets modeling capability. Familiarity with Python, SQL, or Dune Analytics to query on-chain data would be helpful.
Mindset: Extreme attention to detail. Capable of operating calmly and methodically in a fast-paced, high-stakes 24/7 trading environment.
Bullish US LLC & CoinDesk Inc. are committed to offering competitive compensation and benefits. The anticipated base salary for this position is $100,000 - $145,000 + discretionary annual target bonus + performance incentives/benefits. Offered salary will be reflective of job related knowledge, skills and commensurate experience.
EQUAL OPPORTUNITY
In an effort to attract, retain, develop and promote the most qualified individuals, CoinDesk is committed to treating all applicants and employees in a nondiscriminatory manner with respect to the terms and conditions of employment, without regard to race, color, religion or belief, sex, national or ethnic origin, ancestry, age, marital status, sexual orientation, gender identity, veteran status/service, physical or mental disability, or any other classification protected by applicable law. This mandate governs all aspects of employment, including recruitment, selection, promotion, training, education, social and recreation programs, compensation, discipline, termination and access to benefits.
ACCOMMODATION
CoinDesk is also committed to providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the application process, please send an e-mail to [email protected] and let us know the nature of your request.