Clarity at the Cutting Edge
We offer independent judgement to venture capital, financial institutions and founders, with a focus on digital assets and decentralized finance.
Our Philosophy
‘Iliahi, the Hawaiian name for sandalwood, plays a crucial role in Hawaii’s native forests. Larger trees in the forest provide 'iliahi with nutrients in exchange for its protective oils, which helps them resist pests and disease. Inspired by this relationship, Iliahi Advisory offers clear analysis to our clients in order for them to vet opportunities and identify risks.
Kenny White
Founder & Principal
Prior to Iliahi, Kenny was the founder and CEO of Cowri Labs, the company behind Shell Protocol, a decentralized finance platform that processed over $1 billion in trade volume. Over six years, he raised venture capital, led a globally distributed team and brought multiple digital asset products to market.
As a founder, Kenny saw firsthand what it takes to succeed in this industry and how seemingly small choices can have major consequences. Although not everything can be predicted ex ante, much can be elucidated through first principles reasoning tempered by real world experience.
Before founding Cowri Labs, Kenny was a researcher at the King Abdullah Petroleum Studies and Research Center (KAPSARC), an energy think tank in Saudi Arabia. His work focused on energy economics and geopolitics. While at KAPSARC, Kenny briefed senior government officials including the minister of petroleum, H.E. Ali al-Naimi.
Kenny founded Iliahi Advisory because decentralized finance needs independent judgment, rather than analysis optimized for attention or fundraising. His goal is to provide rigorous assessments that help clients make better decisions.
Research, Strategy and Risk Assessment
Due Diligence Research
Independent analysis of protocols, business models, and the teams behind them. We help investors identify risks, validate assumptions, and make more informed investment decisions.
Digital Asset Strategy and Implementation
Strategic guidance for financial institutions exploring digital assets, tokenization, and decentralized finance. From evaluating opportunities to executing on them, we help clients navigate the technical and economic complexities of onchain systems.
Economic Security Audits
We analyze the economic assumptions underpinning a protocol, with a focus on adversarial behavior, incentive alignment, and second-order effects. The goal is to identify weaknesses before they are discovered by the market.
Begin an engagement.
Share a few parameters about your firm and the protocol in question. Inquiries are reviewed for conflicts before any work begins, and treated as confidential.