Space Summary
The Twitter Space The DeFi Evolution: Opportunities and Challenges hosted by DigiFinex. The DeFi Evolution space delves into the opportunities and challenges within the decentralized finance sector, highlighting the advantages of DeFi over traditional finance, security concerns, scalability issues, community governance, yield farming strategies, interoperability solutions, and innovative trends shaping the DeFi landscape. With a focus on smart contracts, tokenomics, and incentivization models, the discussion emphasizes the continuous innovation and growth potential of DeFi projects.
For more spaces, visit the DeFi page.
Questions
Q: What are the main advantages of DeFi over traditional finance?
A: DeFi provides global accessibility, enhanced transparency, lower fees, and greater financial inclusion.
Q: How do smart contracts function in DeFi platforms?
A: Smart contracts automate transactions, enforce agreements, and eliminate the need for intermediaries in DeFi applications.
Q: What are the challenges DeFi faces in terms of security?
A: Security risks such as smart contract vulnerabilities, flash loan attacks, and exploits are major concerns in the DeFi space.
Q: How can DeFi protocols improve scalability?
A: Implementing layer 2 solutions, optimizing gas fees, and enhancing network throughput are key strategies for DeFi scalability.
Q: Why is community governance important in DeFi projects?
A: Community governance ensures democratic decision-making, fosters transparency, and aligns project goals with user interests.
Q: What role does yield farming play in DeFi ecosystems?
A: Yield farming incentivizes liquidity provision and participation in DeFi platforms through yield generation and token rewards.
Q: How do DeFi projects promote interoperability?
A: By enabling cross-chain compatibility and integrating with various protocols, DeFi projects enhance interoperability and expand use cases.
Q: What innovative trends are emerging in the DeFi space?
A: New concepts like decentralized autonomous organizations (DAOs), non-fungible tokens (NFTs), and synthetic assets are shaping the future of DeFi innovation.
Q: What measures can DeFi platforms take to enhance security?
A: Implementing code audits, bug bounty programs, insurance mechanisms, and robust authentication processes can bolster security in DeFi ecosystems.
Q: How do tokenomics drive engagement in DeFi?
A: Tokenomics design token economics to incentivize user participation, liquidity provision, and community engagement in DeFi projects.
Highlights
Time: 05:10:15
DeFi Security Risks Exploring the vulnerabilities and threats that impact security in decentralized finance.
Time: 06:25:40
Yield Farming Strategies Discovering effective methods for optimizing yield farming and maximizing returns in DeFi.
Time: 08:40:22
Interoperability Solutions Examining the importance of cross-chain compatibility for DeFi protocols and ecosystems.
Time: 10:15:30
Community Governance Models Discussing the role of community governance in shaping the decision-making processes of DeFi projects.
Time: 11:55:18
Innovative DeFi Concepts Exploring the latest trends including DAOs, NFT integration, and synthetic assets in the DeFi landscape.
Key Takeaways
- DeFi offers decentralized financial services with opportunities for global accessibility and financial inclusion.
- Regulatory compliance remains a significant challenge in the DeFi sector, impacting its mainstream adoption.
- Smart contracts play a pivotal role in automating processes within decentralized finance platforms.
- Security concerns, such as smart contract vulnerabilities and hacks, pose risks to DeFi users and platforms.
- The potential for yield farming and staking presents lucrative opportunities for DeFi users to earn passive income.
- Interoperability between different DeFi protocols enhances efficiency and widens the scope of DeFi applications.
- DeFi projects need to address scalability issues to support increased transaction volumes and user adoption.
- The community governance model in DeFi projects empowers users to participate in decision-making processes.
- Tokenomics and incentivization mechanisms are crucial for driving user engagement and liquidity in DeFi ecosystems.
- The DeFi space continues to innovate with new concepts like DAOs, NFTs, and synthetic assets.
Behind the Mic
Introduction
All right, welcome. Welcome, everybody. We're about to start off with another wonderful ama brought to you by Digi Finnex. Exchange, your one stop shop for everything you need into the digital world. Thank you again for hosting another wonderful digitalk. This is episode eleven with us today, digi Finnex. We have a plethora of wonderful teams as our panelists today, we're going to be deep diving a little bit into each of them and getting their ideas on the blockchain itself. You know, just kind of understanding their take on everything and the value that can be still brought in. The crypto we all know it's kind of a weird position we're all in. So right now, trying to be educated and find value within the ecosystem is an important thing, and so I can't wait to dive into it today.
Format and Flow of the AMA
So a little bit of format. We're going to start off with intros, guys. We'll just first start off with just a little quick mic check, and then we'll dive into a little bit about yourself, your role within your project, what you guys are doing, just to give, like, maybe a one or two minute intro. We have a bunch of you guys here, and I want to give everybody a little bit of time to be able to talk about the project or, you know, showcase itself. But we also want to make sure we keep the flow going, so I don't want to be stuck one question for, like, 20 minutes or longer if we don't have to. Obviously, if there's value there, and it's really a great conversation, I always love to keep that going and kind of stoke that fire, but I also want to make sure we keep the flow going. But, yeah, no, I'm definitely excited to have you guys here today. And with that being said, I'm just going to start off by, calling out one of you guys, and then we'll just go one by one, and then we'll do the intros and we'll just get things going.
Excitement for the Upcoming Month
I'm just really excited to be here. Thank you guys for coming and happy new month. September is one of my favorite months, so I can't wait to be diving into the month itself and seeing what the value I can get out of it. But with that being said, let's start off with Portkey. Would you love to give us a little intro? Hi. Thanks. So my name is Nick, and I'm with Portkeye. So Portkey is an aa wallet, and we are built on the elf blockchain. So what sets our wallet apart is that we like to assist web two users into the web three landscape, be it retail users such as you and I, or everyone who is new to the web three and blockchain space, and want to basically understand what a web three wallet is and to have some sense of simplicity in terms of getting familiar with the methods of accessing these kind of wallet frameworks and of course understanding how the whole landscape and ecosystem of using a, you could say web three AA wallet.
Understanding Portkey's Features
So that's for the retail users and everything's. We will share more about it later. And for developers, our wallet has a very unique set of SDKs and tools for developers to basically come on board and apply our tools for them to basically bring in projects and users who are familiar with the coding languages of the web two space and programs and of course get on board these users to come aboard to the blockchain ecosystem. So we're a very strong wallet in terms of security. We've employed zkps as well. And of course we enable users to also sign up through the Google account and Apple ID, so it makes quite a seamless login experience. Yeah, that's about it. And we'll share more later.
Appreciation for Portkey
Nice. That's awesome. I love it. I think that meeting technology with proper education is, I think what web two needs in order to kind of get their first footsteps into the web three industry or blockchain itself. So definitely love what you guys are doing over there. That's exciting. Let's see mine dot in. Did you want to go ahead and give us an intro? Sure. Let me know if you're able to hear me. Yeah, loud and clear. So web three mining intro would be this. We are automated liquidation mining platform. So we basically add gaming to liquidation into DFI finance. We have an upgrade system and buy miner system and we are working on heads for the miners on our platform. We want to add DFI of gaming, basically.
Innovative Approach in DFI Finance
We want to have more gaming experience when people interact with finance to make finance more interactive and less just, you know, you stake your money and just put your money there. We want to have interactive community. We also work on NFTs. That is one thing we also work on too, which is coming up very soon, probably in around two, three months. We are working on minor NFT heads you can see on our Twitter platform. And that is pretty much our introduction. We add gaming to DFI basically, or liquidation mining. That's interesting. I think that being able to gamify DeFi is kind of the niche that blockchain has had for a while and I think if you could do it right and you can make it engaging.
Gamification and Engagement
Not, what was that repetitive right where people want to come back and continually do it to have fun, I think that it's a win that you can do, you know, at least for the masses as they come on, because it makes finances less boring overall. So that's pretty awesome. I like what you're doing. All right, Bender, AI, yeah, no problem, buddy. I can't wait to deep dive more. Hey, guys, what's up? 1 second. Sorry, Bender. I want to say on all you guys after this, I'm going to be doing tons of research. I did some research on you guys, but I love deep diving into an AMA and then after just going right into your guys's white paper. So I'm just really excited to have you guys here and then here what you guys have to talk about and especially AI.
Bender AI Introduction
I love it. Bender AI Mandev, I've actually kept hearing a little bit about you in the airwaves lately, so I was actually super excited when I heard you're going to be here. Go with your intro. Hello, everyone. Sorry. Oh, sorry. Just a second. Angie is. I'll have you go. Yeah, we hear you. I'll have you go after Angie right now. It's builder AI and then we'll flow over. Sorry about that. Yeah, no, of course. Thanks. Thanks first of all, for having us. Yeah. So just a little bit about ourselves. We are pretty much the future of project discovery. That's how we like to position ourselves. We were inspired by the need to simplify and personalize pretty much discovery of crypto projects.
The Discovery Challenge in Web3
Obviously, at the beginning of this year, we had a period when on chain projects were extremely in hype. And what we actually found was that there was a very hard time for web three users, but also people from web two flowing into web three. They had a very hard time to find new projects, as finding new crypto projects cannot just be a very complicated process. I guess everybody in here can maybe relate to the fact that when you research a new project, you go first of all onto the website, then you go to Twitter, then you go to Telegram, then you go to market cap, and then you go to Dex tools. Then you go to Dex screener, especially with these on chain projects.
Binder AI's Solution for Project Discovery
So what we with Binder AI have been doing is just pretty much aggregating all this information and then presenting it in a fun and easy way, which is similar to Tinder, where we have a matchmaking system and where you can pretty much as a user present what your interests are. So for example, let's say you're interested in defi, you're interested in AI, you're interested in the Ethereum blockchain, you can input all these interests and then you're going to be presented with projects that relate to these interests. And then based on your swiping activity, will you be presented with other projects. And yeah, that's pretty much in a very brief nutshell what we're doing. So yeah, just focusing onboarding web two, using web three, but also giving web three users that already exist just an even smoother experience for project discovery.
Complimenting Binder AI
Yeah, no, I definitely agree with that sentiment right there for finding everything, you know, like having all the data all up front in one place, at least for the time sensitive people that like that are DJ's, that like to get in as fast as they can. I think that's a win for them. That's why when I saw that you were coming in, I had to double check. This is the same project that I was hearing about because that's what I do constantly is trading and analytics and telling people to do their research all the time and yeah, right now and for some reason it's been like it for many years how segmented it is to get your data. And with the power of AI and with smart builders, I think it's going to be a no sense when for you guys to be able to have that, the access at least for those that are experienced traders that know what they're looking for, they can be able to filter, get in to projects and kind of make sure that their money is married to where they want to have it.
Angie's Introduction
So I think that's pretty cool. It's exciting. Angie, go ahead with your intro. Sorry about that. Little mix up there towards your guys. Little intro. No worries. Hello everyone. I'm happy to be here meeting you all guys. Well, Bitroot is an innovative bitcoin ecosystem expansion solution that aims to address scalability and smart contract limitation challenge faced by bitcoin, while providing a native revenue generation mechanism for bitcoin without active staking. So through beetroot protocol expansion, bid root will enable more complex operations and applications on the bitcoin blockchain, allowing bitcoin to evolve from a peer to peer electronic cash system to a more comprehensive distributed computing platform.
Bitroot's Focus Areas
So basically we are focusing in few aspects like optimistic role of chain mechanisms, multi chain income generation, the security trust by multiparty computing technology, also the smart contract function on asset issuance and cross chain. So we are going to talk about that later. So I will leave the details for later. Most definitely. I love everything you guys have been building. I'm very familiar with what you guys are doing, so I can't wait to showcase a little bit more to the community and have them, you know, a little at least more informed on what you guys are doing and the power that bitcoin is going to be having, I'd say over the next six to eight months and then in the future as it continually has more value and people realize where the real value and on chain liquidity is going to be at.
Fusion Labs Introduction
So fusion, I'm actually super excited to hear about what your intro is also. Hey, all right. Yeah, you're loud and clear, Buddha. All right. Amazing. Okay, so CMG here. So I'm the CEO and co founder of Fusion Labs. So our goal on Fusion Labs is to build tools that would improve the customer experience or the decentralized exchange experience of our end user. So to give better context, we have two core platforms. So we have Fusion hub. So this is our decentralized trading platform where you can buy and sell. So manual buy and sell of the tokens.
Fusion Labs Features
We also have limit orders if you want to check the smart contract that you are buying because we know that the centralized exchange is kind of risky. So we need to ensure that we have smarteen contract scanner available easily. So you can smart, you can scan the smart contract prior buying it. And then we also have the latest feature that we deployed is the advanced copy trading. So where you can copy trade the existing wallets that you want. But we are also doing some research about high performing wallets that we want to showcase to our users. So in terms of the ultimate goal. So for Fusion Labs, our goal is to make the decentralized exchange safer, easier and better.
Thank You for the Overview
So I can discuss a lot more details into the specific features of FusionHub as well as the other platform that we have, pulse AI, that is currently in development. But that is the high level overview of what is fish and labs and then in terms of the focus area that we want to improve. Thank you, man. I appreciate that intro, man. I think that is an aspect that the decentralized, I'd say Dex is kind of need in order to facilitate a little bit more safer transition for the web, two users as they come in, having a little bit of security tools at hand and fill in a little bit of more risk management with your overall portfolio is a win for everybody. So appreciate that. Intro.
Awaken Swap Introduction
Awaken. Let's see. Awaken swap. That's the other half. Sorry, I hate that Twitter cuts out, but awaken, go ahead with your intro. Hey, good morning. Good morning, everyone. This is Mister Wook from awaken swap. So our motto is to awake the sleeping defi work. And the reason behind this motor is because we felt that Defi has been stagnating quite a while for some time now. And our goal first, Awakenswap is an auto amm that's built on the elf blockchain. Our goal is to deliver a user friendly and decentralized experience to everyday users.
User-Friendly Experience
So what that means that users doesn't need to have very in depth, defined knowledge to be able to use our platform and we empower them by having low fees and a seamless experience. So, yeah, that is us. That's awesome. Short and sweet and straight to the point. Man, I love it if you're not awakened from that right there. You know what I'm saying? So that's awesome.
Introduction and Initial Thoughts
Yeah, right? Yeah, definitely. Good morning and good month, right? And I think that what you guys are doing is awesome. I love the alf blockchain. I love what they're doing over there. I'm very familiar with the team. I've talked with them many times. So that's awesome to see, you know, a Dex and then having you up here talking about it. So I think that's just one thing that I, I've been talking about for a long time, is growth and fostering great blockchains and great teams in the background. And that's nothing short. The alph blockchain. The team are win. So that's awesome. I appreciate that. We're done with the intros today, so I appreciate everybody here. And I will say, take the time, guys, if you're interested, know more about these guys. And if you're not interested, you know, like, as much as I am, obviously you can tell my energy it is.
Encouraging Engagement and Research
You will get interested by just going in and getting some research done on some of these projects. So please follow them. Turn your notifications on. Jump in their white papers. I mean, I get real technology excited. I love when there's new technology being bred out, but also when there's great teams bringing new standards to already existing technology. And that's the plethora of here people bring in, you know, oh, it's another Dex. No, it's not just another Dex or, oh, it's just another, you know, wallet. It's not just that. It's actually technology. Built within an infrastructure from the ground up. And that's why I'm actually super excited about today, because you'll be actually understanding technology that is needed for us to be able to scale into the future, at least bring more web two users in and have them stay.
Future Scaling and User Retention
I think retention is the ultimate goal of our this next bull run, right, is to actually keep that user base within the blockchain after the bull run. And we're trying to figure out ways to do that now. And I think that a lot of you guys are seeing that and breathing a little bit more of that infrastructure within your guys's ecosystem. So I'm super excited to dive in it, so I don't want to waste too much time. Let me dive into my next question. One thing I want to say to keep the kind of flow going, though, I don't, I kind of hate to have to like, pick out names and stuff, because if people aren't ready, you know, to say or give apart, so I like to leave it more podcast filling.
First Question on DeFi Contributions and Challenges
So I'll ask a question. If you have a piece and you want to jump into it, please jump right into it. Obviously, be respectful, you know, talk over each other, but if there's no one talking, you don't have to raise your hand, just jump right in and give your piece. And I love the flow to just go, and then we'll just continue on from there. If you do want to get a piece on you and there are a lot of people talking, you want to raise your hand, that's totally fine, I will call on you. But. But I just want to kind of get the flow that way going so it's less of dead air, I'd say, between questions. So within my first question, defi needs a build moment. We all can see it, we've all talked about it during the bear, but, you know, now that the bull is here and retailers really starting to get an eyeball onto the blockchain itself, what unique contributions has your project made to dive to drive?
Challenges Faced and Overcoming Them
Sorry, this transformation for and what are the biggest challenges your project has faced in 2024 and how have you overcome them? That's my first question for anybody who wants to take it. I would like to take that question. 2024 was pretty challenging at first because we had daily 5% and we started to get more users and more active on our platform, so it decreased it down to 3%, but we also decreased our miners for it was originally zero, 0.5 1ft three, and now it's zero, 0.5 ethereum which is equivalent to $13. Originally, our miners were 25, so we basically cut our percentage, but also cut our cost of miners, which gave us more users.
Decision-Making and Strategy
But also, it was pretty challenging having to decide to make that decision. But that also helped us add more mass to our platform. So that also helped us in the long run also. So. And for DFI, the things that we helped equip to help with that was combining liquidation community with the cloud mining community. Now, if anyone else would like to speak on this matter, that would be great. That's pretty fascinating. I actually like that. And that's a pretty good challenge, actually, to see where you needed to do it in kind of the more business style of things. They just see the growth metrics kind of be more sustainable for your long term.
Focus on User Experience and Barriers
I, you know, I kind of see how you guys had to kind of make that business decision in order to make it, I'd say, a better transition for the communities to come in and continually scale that and have that opportunity. It's pretty awesome. Anybody else want to jump into that a little bit about what they've been able to build and contribute and kind of the challenges they've had of 2024? Sure. Okay, I'll just share about my project. So, as you know, we're a web three wallet, and there's tons of wallets out there. So I guess that's the challenge of trying to get users to come on board.
Enhancing Accessibility and Security
So our vision is to create a frictionless and inclusive ecosystem so that users can basically navigate through the blockchain space. And of course, without really having an extensive tool, or you could say knowledge of the blockchain technology. So when we focus in enhancing user accessibility, that's kind of like the major challenge that we are trying. And I think a lot of projects face that. But first, I think one of the goals that we've managed to accomplish is the improved security function. So Potkey has actually introduced ZKP, and it is pretty robust. We want to ensure that when users come on board, they understand that, hey, their finances are safe, it's quite robust, and they don't really have to fear or feel uncomfortable that new technology could actually be quite daunting for them, especially when assets are involved.
User Experience and Mass Adoption
So, yeah, that's kind of like what we try to aim for is user experience in this seamless transition from web two to web three. And of course, reducing these kind of barriers to entries and providing them with a sense of comfort. It's what we also go for. So that's why Potkey actually focuses our technology and our development in the security functions and features to ensure that as we try to aim for mass adoptions, we are one of the pioneers that provides, say, a safeguard and you could say a sense of comfort that when users come on board, they realize, okay, this is new and I feel secure that my assets are mine and there's this, you could say, breaching, it's quite low.
The Impact of Regulation
And that new technologies do have a lot of fear. Right. But we try to ensure that we instill a sense of comfort and yeah, we hope users can come aboard. So that's kind of like what we faced. And in 2024, I guess lots of regulations are going to come in, but it's for another time and topic. Yep. Right. Maybe we'll have Digi Finnex episode like 15 or 25 when regulations start to hit and we'll be talking about it again at that point. No, that's awesome. I think that a challenge that if you can overcome and you're obviously doing it and you're pushing by it, you're going to be a win.
Education and User Facilitation
Because I agree, education in the blockchain, there's either none or the ones that is, it's super confusing, or you're just reading a constant scientific paper and you're kind of lost in the end. And so facilitating education for web two users to come on board is going to be a win, especially if you have the technology at hand. So it's not only you're telling them and showing them, you know, but they actually get to actually interact while doing it. So, pretty cool, Fusion. I saw your mic come off, I didn't know if you had a piece on that. And then right after that, go ahead, awkward. You should have just jumped on awkward also, just like Fusion did. But yeah, right after we'll have awkward.
Building Fusion Hub
Go ahead, fusion. All right, so in terms of the unique contribution, I would say it is the overall package of how we are building fusion hub. So I'm gonna do a little deep dive in terms of what are these features that improves the user experience of our existing around 600 users. So with fusion hub. So it is a descent, it is a Dex, so you can buy and sell tokens. Another feature that we implemented as part of the built in scripts for every transaction that we will execute is transaction simulation. So what this, the value of this feature is, it helps avoid unnecessary failed fees. So when you're using the other platforms, sometimes it is gonna, it is going to send immediately to the blockchain and unfortunately, sometimes it failed.
Transaction Fees and User Protection
So you are being deducted with field transaction fees. So within fish and hub we are, we implemented the TX simulation that avoids this unnecessary fees. So we also implemented antibody protection because we know jared from the subway made a lot of money every day because of the front running bots available. So to equip our users with extra layer of protection. So we implemented anti protection where you can buy and sell tokens and avoid those prong bots, sandwich bots and other mabots available out there. Another thing that in terms of the key feature that we have is we are using the centralized exchange aggregator meaning fusion hub scans different Dex codes and based on the available codes of the platform or the Fusion hub we'll select the best codes available and immediately we'll do the TX simulation to ensure that if you are going to submit this, I mean if you are going to submit this transaction or this request it is going to be seamless and it will minimize the any failed potential errors.
Challenges of User Adoption
In terms of the biggest challenges we have, I guess it is going to be the user adoption. So we only have 600 users although we launched around April of this year. So we have around 600 users. And in terms of how we are addressing this challenge we've been collaborating with other projects. So the motivation that we have is if you're gonna visit another project on Ethereum you can always see buy on uniswap. So that same strategy, that's what we're doing with Fusion Labs. We are partnering with different projects. Today we made announcement, the partnership with Astralab.
Creating Visibility in the Community
So very cool team. They are very easy to work with. So by making fusion hub available on different websites, on different projects we are sending or we are creating the visibility for fusion hub from different communities. So by doing this we are onboarding different users from different communities and then we are also planning to expand the scope of YouTube because currently it is available on Telegram. That's why we are just finishing up the current in progress development and we will proceed with the web app planning, with the web app and the mobile app design afterwards to onboard more users because not everyone will sort of. Not everyone is a fan of telegram trading bots.
Efficiency and Mass User Engagement
So that's why two cent. Yeah, no, I think that's awesome and I really think what you're doing is smart. I think awareness and doing it efficiently is important and you got to focus on getting your product out there into the masses. Partnerships are huge, community is developed that way and I think that with persistence and really hard work the users will start to flood in and once they start to utilize the ecosystem for what? For its value and its opportunity. It's a no brainer. That's why you've been able to sustain 600 plus users, you know, this up to this time, which is nothing short of a success in my eyes.
Goals for Future Growth
You know, obviously, growth aspects, getting to thousands, if not hundreds of thousands of users, you know, is the goal, but you got to start somewhere. And I think what you're doing is a smart way about doing at least getting awareness so that people can see it join in, and it's all about getting them to come to the website, utilizing the Dapp, and then seeing the value from there. So that's awesome. Awaken. Did you want to jump in now? I'm sorry about the wait there. Yeah, no worries. But I'd love to get your piece on there.
Simplifying DeFi for New Users
No worries. So our focus has always been to simplify the process of inviting new users into DeFi. That has always been our biggest challenge and that will still be and always be our focus. Oftentimes, as long as anyone that has been in the DeFi world for more than six months, you are considered a mature DeFi user. And often, as a mature user, we tend to take things for granted, like how do you enter lp, how do you manage the risk of impermanent loss, stuff like that.
Unlearning for User-Centric Development
And that's one of the main challenges that we challenge ourselves this year, is to unlearn what we know and put ourselves in the shoes of a beginner. And that's what we want to do, because you can see a lot of innovations coming in from the DeFi Dex or lending protocol side of things, where they combine everything together, making a one stop shop. That is one way to make it user friendly for people. But there's still another avenue would be to make it easier for new users to come in.
Innovative Solutions in User Experience
And that's one thing we are very proud of. One of the innovations that we are very proud of is that we managed to create a mini app on Telegram where users can swap tokens without leaving Telegram itself. And I think most people are not, don't truly appreciate what that means. Oftentimes in Defi, if you want to access mobile users, you have to give in to the two gods, the big g and the big I. You know who I'm talking about, right? But Telegram opening up this ecosystem is a game changer, because you can get to bypass these two players, these two gatekeepers, in a way.
Proof of Concept with Telegram
So we have launched this mini app on Telegram and is serving as a proof of concept, working pretty well so far to lower the bear entry for the upcoming Defi products that we have. And pretty soon you start to see how explosive this telegram ecosystem is going to be. It's not just for small silly little games that used to waste past time by. It's a serious ecosystem that people need to wake up to.
Growth in the Ecosystem
100% agree. I love that. You know, that whole awaken is really coming out the vibe from it and understanding it because we've seen the success of the Telegram mini apps with TrOn and if people start really starting to utilize it and really getting it into the masses and showing how fast, seamless and easy it is, they can catch up to those that like myself and other defi. You know, like you're saying, being here matured for many years. I've been using bots for training for many years.
Leveraging Technology for Efficiency
A lot of my training is done passively. I don't even have to deal with it because I've ingrained so much understand how great a tool telegram is not just a chat place, right? It's much more and it's going to be continue to be much more powerful for blockchain. So that's awesome. Angie, I did. I was about to call you up too because I saw your hand earlier and I didn't want to miss your piece on it. Go ahead. Thank you, Pedro. Well, is committed to driving innovation in the DeFi space by addressing key challenge and making unique contributions.
Advanced Technologies in DeFi
For example, our project leverage advanced technologies such as optimistic roll ups and introduce new functionalities like bitcoin native smart contracts and asset management capabilities. So by incorporating these features, bitro significantly enhanced bitroots ability to support complex defi operations, reducing transaction fees and improving processing speeds while maintaining security with the bitcoin main chain.
Scalability and Programmability Solutions
So this addresses one of the critical scalability issues that bitcoin face and other blockchain networks. And additionally, our native smart contracts bring a new level of programmability to bitcoin, expanding its utility beyond simple transactions to include more complex dapps. So looking ahead to 2024, I think our biggest challenge for Bitroot is our upcoming partnership with Babylon, which will transform our business and our technology. And we are about to launch a replaying program on the BTC chain where we will leverage bitroot programmable asset issuance features to issue assets on beetroot, hold them in escrow and then commit them to Babylon for BTC rewards and after that secure the committed credentials back to bitroot for corresponding rewards. Right? So this will fully unlock the liquid value of BTC, mobilizing trillions of dormant found on the BTC chain. And of course, it will be a major challenge, but I'm confident that Bitroot will rise for this challenge.
Community Support and Exciting Developments
All right, I am telling you, Bitroot is you guys have been doing so much, man. If you guys, if people aren't understanding what they're building, if you're not following along, please take the time to follow. Angie, turning notifications on. I'm telling you, they're doing some innovative stuff in the space. I'm a huge bitcoin fan, but I think bitcoin has been kind of left as that, you know, non moving, doesn't have that community, doesn't have that technology kind of idea. And I think it's gonna be at the forefront here coming in the next. You know, like I was saying, within a year, there's gonna be so much technology being built on the bitcoin itself. So I can't wait to see continually scale and grow. And if you're not paying attention to our comment, I just scrolled through a bunch of our comments. They're all raving about you right now, Angie. So I'm telling you guys are definitely building some unique stuff in your community is supporting the crap out of you guys.
Building a User-Friendly DeFi Experience
So that's awesome to see them in here, you know, Chopin, you guys out, telling everybody to check you guys out. And that's from the community sentiment site. So it's not just us up here talking to, it's actually community members joining and hyping it up and getting that vibe. So that's awesome to see. All right, let's move on to my next question. If no one has any more on that was a huge, I would say, answers good knowledge to that question. Obviously, there's a lot more to unpack when it comes to what you guys are building. So I'm going to take this time right now to encourage everybody to make sure you are following these and turning notifications on all the Twitter accounts. I love saying that as the best place to get all your news upfront. It's always on Twitter. It comes right into your notification box, and you can be up to date with everything they're building. And I don't want you guys to miss out on exciting new technology and or value that you can find your opportunity within these different ecosystems here.
Leveraging Emerging Technologies
So with that being said, I love this next question. This question is kind of my favorite one of today that I was waiting to ask. And I think it's because not only is it leveraging new technology, but I think it's a technology that is constantly innovating. And that's how does your project, how is your project leveraging AI or other emerging technologies to innovate within the DeFi space? I know it's like a hot topic with AI, with RWA, with infrastructure and technology right now. So I just wanted to get you guys piece on that. If anybody want to take up the first part of that. I can go first, of course. Jump in. All right. So, yeah, like I mentioned earlier, so we have two core platforms. One is fusion Hub and the other platform is that we are currently building is Pulse AI. So this is our entry on Microsoft AI program. So we were accepted there. And actually the Microsoft granted us, I think the current level is around $25,000 credits.
AI in Investment Decisions
So we are leveraging all the technologies of Microsoft for free. So we have, I think we're going to be on track hitting the 150,000 credits within this year. So going back to pulse AI. So pulse AI, we are using AI and machine learning to analyze news, social media fundamentals as well as the technique, doing some technical analysis. So what we are trying to solve in pulse AI to create a better context. So imagine you want to buy Tesla stocks. So in order for you to buy it, so you have to do some research, you need to visit different websites, sometimes you have to visit Reddit, sometimes you have to visit, I mean, most of the time you need to visit Twitter as well, different news sources. So that is the scope that we are building. So with pulse AI, the platform will do all the research immediately, within few seconds from fundamental analysis, understanding the pay ratio as well as the debt ratio of the company, the balance sheets of the platform will do the technical analysis based on the chart.
User Insights and Market Sentiment
What does the chart showing what is the support level, what is the resistance level? And then the most important now, especially since I think it started on 2020 or 2021, where the market sentiment plays a very important role. To be specific, back when the first run of GME or GameStop, the Reddit guys was able to rally to $400 per share. So that is why we added the market sentiment analysis based on social media like Twitter Reddit plus, combining other the news sources and understanding based on the data gathered. Is it bullish? Is it bearish? Is it neutral? So giving users more information as well as the AI will perform the analysis and curating it into a more user friendly version. And then we also integrated three machine learning models for price prediction. So it gives extra layer value so that our end user or pulse user will understand, based on statistics, based on the numbers, what could be the end of the price of this particular stocks.
Enhancing Decision-Making in DeFi
So that is pulse AI. So it is still in development, but we are using AI and machine learning on that. So to enhance the user experience as well as to simplify the decision making of the end user. Yeah, I definitely want to, I always preface it, you know, with it not financial advice. Do your own research also. But I think having that in your pocket, though, is just another part of your DeFi research tools. Right? Obviously, we're not saying this is 100% go with it, but having that can alleviate a lot of the filtering of data, similar to what vendor AI was talking about and how they're being able to get all that data, you know, efficiently to you with AI, you guys are doing something similar, but in a kind of different way, almost like an assistant in your pocket to help with your risk management.
Utilizing AI for Risk Management
And, you know, I think that having multiple tools to be able to cross-reference data, be able to understand what the value is within that is going to be huge, is coming into 2025. I think AI is just going to continue to bring much more value. And having that portfolio assistance, I think is going to be a win for a lot of people that don't understand the blockchain per se. They'll at least be able to have the data that they know they need to have in the front for their research itself, so then they can then go in deeper knowledge, you know, research themselves. That's pretty cool. I like how you guys are blending AI with DeFi products. So anybody else want to jump in here? So I want to make sure before I move on to my next question, so I give everybody a chance.
Innovative Approaches in AI Utilization
Oh, go ahead. Awaken. Right. Hey, everyone. So how are you using AI? Currently, we are using AI-driven analytics for risk management and also market trend prediction as well. In the near future, we are intending to use AI to enhance automated yield farming strategies and also to reduce impermanent loss for liquidity providers. The next immediate thing that we're looking at is to use AI to empower users when it comes to investment or even yield farming strategies. So that's really interesting. And one of the things that we notice, which is quite ironic because this is an example we noticed in the traditional banking space, in traditional banks, you will notice that they ask you to fill up a questionnaire, and then from that questionnaire they would suggest certain investment products to you.
Learning from Traditional Finance
I think that's something very interesting that we should learn from, because if you go to any DEX, you could see that you can, you know, you can provide liquidity or you can yield farm at least 30 or more choices and sometimes decision parallel. Parallel, right? I can't pronounce today parallel. Yeah. So we could adopt something very similar as well, because if we have something like that, we have a questionnaire for our new users. They free up that questionnaire and with that, we provide them a curated list of investments of LP's or stake pools, for example, that will make their life significantly easier and that would reduce the barrier of entry when they make their very first DeFi decision. So that's something that we are actively learning from and that's something that we are keeping our eye out, especially in the traditional finance space that we can learn in DeFi.
Bridging Gaps Between Traditional Finance and DeFi
Yeah, no, I think that's a huge win also, because there's a lot of people that are really big whales in the traditional financing that just won't mess with the blockchain just because they just don't understand the technology or they just don't want to risk. They don't have the time to deep dive and do their due diligence like, you know, in the safer a web two financing world, they just put their money where everywhere, almost. But now I think that, that right there kind of alleviates a lot of that, introduces them to LP's, allows them to kind of gain, and then if they want to further their risk, then they can go deeper into it and do some more riskier place. But at least this gives them a roadmap to a little bit of risk management and education when they come into the blockchain itself.
Robo-Advisors and Their Impact
That's pretty awesome. I like that. Just to add one last thing. Definitely, I agree with you. So one of the things that we notice is that the reason why so many people invest in robo investors and whatnot is because they do not need to make a decision. And that is crazy if you think about it. So much asset is going into a product because people don't want to make a decision or don't need to make a decision. So that's really interesting that we keep an eye out for. And I think it's something interesting that everyone should consider and think about. Yeah, no, 100%. I agree with that. Right. Anybody else before I jump over to that, and I know I said leveraging AI, but it's also any technology, too. So if you guys wanted to talk about anything new, like, you know, Porky, I know you did mention ZK proof within your ecosystem.
Understanding ZK Proof Technology
So, I mean, that you know, I didn't. Yeah. How exactly does the ZK proof, you know, interact within your wallets ecosystem? How does that value translate to the average user, you know, comparative to the average wallet? I didn't know if you maybe wanted a piece on that because I think that's definitely technology that you don't hear anybody even talk about utilized within a wallet's infrastructure. Yep, that's true. Well, I guess the technology has been there, but the implementation, that is not very. Yeah, exactly. And that's what, that's the driving, unique part that you've already said like three times. And I'm like, I'm still trying to wrap my head behind it. So it's, I think most of us would have searched what ZKP is, but like what you mentioned and I've shared across, it's hard to implement.
Benefits of Integrating ZK Proof
And of course, when you do brag about it, sometimes it becomes too technical and it comes quite confusing. So what we do is we embed it into our code and of course it allows for verification without revealing any additional information. That's why this gives a user, you could say, added privacy through safeguarding all these kind of cryptography that actually happens on the backend. And once we integrated it in podkey, users can basically just sign up our wallet account through, like I mentioned earlier, Apple ID, Google account, and they maintain 100% control of these, you could say, assets and their guardians. Right? So with that being said, ZKP allows, or you could say eliminates the need of private keys, seed phrase management, and tries to provide a more robust and seamless, could say, experience from security point of view, so that, you know, it is yours, you feel secure.
The Platform's Commitment to User Security
And of course we protect privacy of users because that's what users really want and we've listened to them and that's why we try to attack team, basically push their way and basically work hard to integrate this like cryptographic parameters into the wallet. So, yeah, that's kind of about it. That was a great answer, actually. Actually, now I truly understand that makes a lot of sense. And it actually works hand in hand with the fact that you guys have that seamless, you know, assigning through the Google ID account system, you know, having that while still maintaining anonymity and security there in the backbone at least alleviates a lot of that pain. Especially that, like we're talking about, that private key is, I tell you, a lot of my friends, the whole reason why they didn't get into it is because they just didn't really understand all of that levels of the.
Key Takeaways and Excitement for the Future
Of what they had to do in order to even just could be into blockchain and keep their assets safe. So I think that's a win right there. And that's exactly what I wanted to hear. So it's awesome. It's a great takeaway for people to understand the difference and how powerful that really is. And hopefully some people, we're going to start jumping in and downloading that wallet, you know? So that's the idea, at least. And I know that as the day goes on, there's going to be so many more people listening to this. So I can't wait to see how well you guys do over the next coming weeks and months, especially as users start to see your guys's technology. It's really exciting. I know you guys are still, a lot of, you guys are still building, and so there's still a lot more time to come. And I love that you guys have already a plethora of products available in your guys's ecosystems, but, you know, you guys are constantly scaling and growing everybody here.
Conclusion and Anticipation
It's fascinating, and it sucks that I don't have more hours in a day to be able to dive into everybody's projects. So it's just really exciting, though, to have you guys here. And with that being said, I'm gonna move over to my next question, since no one else had their little piece on that, which is totally fine. This, this right here is, I don't know, it's kind of a question that, you know, I love that ask, but is this, you know, obviously it's gonna be. I don't know if it's a little off question, but it was something that I figured I'd give everybody a chance here, especially for what you guys are. All the common theme is user experience, right? And everybody's here trying to facilitate the best user experience.
Onboarding People into Web 3
Vendor AI, go ahead with your piece. Yeah, I think that's a good question. I think it really comes down, first of all to, because obviously you have all these people trying to educate a lot of people within web three on how to use certain things. So for example, for me, it started back in the days with Binance Academy, for example, where you learn about certain concepts. Personally, I don't think any project really educates well enough in order to onboard people. I think all projects are really just focused onboarding existing web three users. I mean, if I ask my, let's say a family member of mine how to do staking, the first question they'll ask you, like, what the hell is even staking? So I think it should start by actually, let's say, finding a project that you find interesting. Because first of all, when you find the project that's interesting, then you're only going to dive into it, right? I don't think we're at this stage yet with crypto, where within 20 seconds people can find the project and say, this is for me. I think, first of all, they need to like really fall in love with a project.
Engagement and Value in Projects
And then once you've fallen in love with a project, that's the moment that you're really going to start looking. Okay, what does the project actually do? Right? Because at the moment, 90% of the crypto space just invests in projects without even knowing what the project actually is, but they've just seen it shield by some influencer. So I think, first of all, if we can tackle that problem altogether where people actually are interested in the project, that they find that then the onboarding process will go a lot easier and people will actually, yeah, stick around for a lot longer. Yeah. No, 100% agree with that. Like I said that earlier, that like my, I found my sites that I utilize for everything. When I go to a new site, I need to be able to fall in love. I need to feel engaged, I need them to feel, I need to feel like I can be a part of that and utilize it on a day to day basis. And what if I feel like it, I'll put it down and I'll put it on my saved websites or on my phone, their app, and I'll utilize it.
The Importance of Recognition in Development
I have no problem, you know, utilizing products that actually have merit, have value, and you could tell when the team has put in the effort to build something unique and strong within the ecosystem system. I think that's how we continually grow and facilitate the creativity. Because a lot of times these devs are, we got hard working devs out there doing magic out in the world, but no one can tell, no one can see it and they don't get the limelight, I would say that shine that they would normally need. So definitely, you know, it's a pain out there that we need to be able to alleviate. I think what you guys are doing out here, especially, were talking about earlier, getting all the data, the analytics, all in one place so people can find a product that right there is going to help just alleviate a lot of that pain because they'll be able to find these hard working devs that are pushing, that are marketing, that are still trying to do what they can and then they get to utilize their ecosystem and if they fall in love with it, hopefully they, you know, stay within that ecosystem.
Upcoming Events and Initiatives
So for the sake of time, though, I don't know if anybody else wants to jump into that, but I can move on to my next question if anybody doesn't want this. This is actually my favorite question. Actually, the last question that I have for you guys today is actually my favorite question of the day. That one was just a little bit of understanding what you guys are doing, an idea, but this one right here is kind of my favorite. And I want to jump into it because we do have about nine minutes. I do have announcement at the end. I want to make sure I cover but are there any upcoming events or initiatives your projects that your projects are hosting or having for your community that we should be looking forward to that you guys have either coming up or already have available for people to start signing up and participating in? I know the communities are always looking to engage and be a part of it and it's a win for everybody. They come, they utilize your ecosystem, they see the value of product and then they have a chance to win. So it kind of just drives that extra level of organic marketing. So I don't know if you guys had any of that going on. If you did go ahead and jump in right now, I'd love for you to talk about it and how people can participate or when they should be looking forward to jumping in to participate.
Engagement Through New Initiatives
Yeah, I'll go first. So best thing to look out for is through our telegram board. We are launching so much interesting experiments there and those experts or the proof of concept there and those proof of concept would eventually mature to be a full fledged product on its own. Again. Don't fit. Telegram, telegram bots wake up to it. It's amazing. And we'll see you there because that's where you can see you can get the best UI UX from our application itself. I can't stress this enough. Yeah and yeah happy farming. Yeah, most definitely fusion. I saw you tramp up right at the same time. Do you want to jump in there? Oh sure, yeah. Actually this is something that we launched recently. So this is the advanced capitrating. So where we are bundling the, all the capitraders within the fusion hub and then the users will have the ability to bribe the miners for transaction prioritization. So that is launch and then tomorrow or we will be adding one.
Features and New Wallet Options
I'm calling the, this the Persona of this wallet as stealth trader. So as a user you'll have the option to first copy trade any wallets that you want and then copy trades the existing trading wallets that you can select within the platform. So the stealth trader that we will be adding tomorrow means I think for this week alone he made or she made around six figure. So very cool. I've been monitoring this wallet, we've been styling different wallets to analyze the risk, to analyze the potential and the performance of the wallet. This has been really, I mean for me this stock trader wallet that we will be releasing tomorrow on Fusion Hub within the copy trade user interface. This has been very I would say high performing wallet that has been trading all day long, every day for seven days. So. And then we are just also completing some of the development for the bridge feature. Afterwards, we will be start planning for the Fusion hub web application followed by the iOS android mobile app development. So that's all for Fusion hub.
Exciting Developments
Definitely exciting, man. I'm telling you, man, a lot of development, a lot of value there, man. That's awesome. I think that's cool that you've been able to follow that. Really cool. And you're doing kind of doing a whole different way and like we're talking about, it's just gamifying and adding a whole nother level to your ecosystem and how you've been able to drive that opportunity within that utility. So that's pretty awesome. Bender, go ahead. I saw your hand up. Yeah, guys. So, yeah, just to add to that, interesting things coming up, we're actually for anybody who's interested, of course, in earning rewards, especially for the web. Three users listening in. We're going to be doing a better launch, actually of our web app. So you're going to be able to start swiping just like on Tinder and find your next favorite project in just a few swipes.
Rewards through Testing
So yeah, anybody who's going to be swiping inside the web app, they're going to be able to make or have a chance to win swipes, rewards. So, yeah, that's of course, interesting for anybody who's interested. It's super easy. You're going to see how easy it is to use the web app and you're already going to be finding new projects throughout the beta test. So yeah, we'd love to get your feedback. And anybody who's interested in partnering up, make sure to reach out to us as we're super open for that. And we also have a big name who's going to be attached to the entire beta testing as well, somebody who's done a lot in traditional finance and who's going to help us onboard a lot of web two users, because obviously that's the main goal, what we're doing. We're just onboarding all the web two users into web three because that's just such a much bigger target market. So, yeah, look forward to that.
Activities and Partnerships
And any questions you guys have, just, yeah, make sure to reach out to us. Awesome. Awesome. Porky, did you want to jump in? Yeah. So I guess for users and listeners, you can just head on to our Twitter or X page. So we partnered with quite a lot of projects and of course there's kind of events going on where users can basically sign up, of course with Botki and join with our partners and some of the projects that we've onboarded and we've partnered with. And they can basically win prizes and do activities to get their hands, you could say, comfortable on these projects and as well as using our wallet and yeah, just check out our x page Twitter page for lots more updates and of course giveaways.
Community Engagement
Most definitely. I love it. Short, sweet and simple, straight to the point. Mine did you want to jump in? Yes. Since Twitter space is ending, I thought I would say something before it ends. Basically, if you like to join our community, we have a discord server, we have a YouTube channel, we have Twitter, obviously, and we also have a link tree where you can find it all for social media platforms, GitHub and everything else to see about the project. Have a great one. I love it. Another one, short and simple and straight to the point. That's awesome. All right, let's see. Angie, did you want to jump in here real quick and give like a little statement or you have any initiatives or anything, any activities going?
Upcoming Campaigns and Events
I want to make sure give you a minute before I jump into any closing. Yeah, sure. Well, currently we are hosting the Genesis ambassador NFT. That is a campaign basically for honor our pioneering ambassadors with a limited edition NFT collectible. And this campaign will be issued exclusively to the first batch officially certified ambassadors which will benefit from a range of exclusive parts including Mainnet address, protocol privilege and bidirect like protocol on layer two and all ambassadors awards, wireless access to ecosystem projects, vip guest status and special modeling contribution rewards and each NFT will serve as a unique digital collectible assemblizing your ambassador status and our deep appreciation for your support.
Additional Future Plans
And we are also actively preparing for the Testnet event and our testnet will be going live soon. So we are holding separate activities for users and echo projects. So for users participating in this tested activities, we will be rewarded with points and nfts which will be exchanged for main network airdrops when the main network goes live in the future. And for Echo projects, we will have set up Echo incentive program which will give support to outstanding projects including capital injection, airdrop Research Corporation and so on. And we are happy to announce that we are going to participate as sponsors on the blockchain life event that is going to take place in Dubai and we are going to attend the event in Singapore, the Token 2014. So if you guys are going there, I will be happy to meet you there.
Conclusion and Appreciation
Thank you, Angie. No, I love it. I love it. That is awesome. I tell you guys, if you are not familiar with all these guys here, this was a great AMA. If you're not excited as I am, please go jump in, start understanding what they're doing. Start being part of, you know, their ecosystem and if you know, you have questions, please jump in their telegram or discord wherever their community is most active and start asking questions. You know there's going to be plenty of people to answer questions, I guarantee it. And then on top of that, you'll be able to see this community sentiment because we all know how great it is to be a part of a community that loves the product being built. With that being said, I really do appreciate all you guys coming on here showcasing a little bit about what you guys are building.
Appreciation for Participation
It kind of gives it a little bit of more information for people to kind of still deep dive and get in there. But we got a kind of a good overview and I want to thank Digifine X exchange for hosting another wonderful Digi talk. This is episode eleven. We've done eleven of them. I can't believe it. It's already been that many of them. I can't wait for number twelve. I really do appreciate it everybody. If you're not familiar with Digi, FedEx exchange, it's literally a one stop shop for all your digital assets. Constantly growing, constantly go giving a huge value to its community. So I love being a part of it. I love hosting these AMA's and I'm going to continue doing it for as long as they allow me to host it.
Final Thoughts and Promotions
With that being said, I do have a code for all of you guys that have been sticking around the whole time and listening to us talk and you're still here. I really do appreciate you guys doing it and constantly coming back, showing you guys support and love to what we're doing and giving these products and CEO's and ctos a little bit of time and ears. So with that being said, I will say make sure if you're not already, you download the app, you know, you sign up, you do the KYC. I believe you get $10 worth of trading that you deposit in and you will be, you know, what's the word you'll qualify for the red packet. Sorry, got caught up in my own words. So the actual Defi code is arming. The code for the red packet is Defy 2024 and that's all capital. Defi 2024. Please write that down. You have plenty of time. There's no rush to go over there and do it, but make sure you guys are writing that code down so you don't miss out on your chance to get your red packet.
Concluding Remarks
That's capital D, Capital E, Capital F, Capital I, 2024. Thank you, everybody for coming here today. I really appreciate your guys's time. I'm going to be deep diving into it all, you know, and understanding what you guys are building because I think the future is us all kind of understanding what you got in products and actually support and also appreciate your guys's time. But also, please, guys, jump in, let's continue talking, let's partner, let's grow, let's see our communities coming. Let's make a great, safe place and ultimately to our community, it's not financial advice. You do your own research. But I always try to say this before at the end of every AMA is please stay safe in the space. Thank you. I appreciate everybody's time. And until next time, guys. Bye bye.
Final Goodbyes
Thank you. Bye. Yeah, thank you. Have a great day. Bye bye, guys. Thanks, guys.
