Space Summary
The Twitter Space The High Yields in DeFi and Risks hosted by redstone_defi. Delve into the world of Decentralized Finance (DeFi) and uncover the lucrative high yield opportunities intertwined with inherent risks. Explore the role of Modular Oracles in providing essential data feeds and the leadership of platforms like Pendle Fi and Ether Fi in LST & LRT. Understand the critical importance of security, due diligence, and regulatory compliance to navigate the dynamic DeFi landscape successfully. Discover how partnerships, risk management strategies, and continuous learning are integral elements in maximizing returns and safeguarding investments within the DeFi ecosystem.
For more spaces, visit the DeFi page.
Questions
Q: What are the main risks associated with DeFi investments?
A: DeFi investments are highly volatile and susceptible to hacks, smart contract vulnerabilities, and market manipulation.
Q: How do Modular Oracles enhance DeFi platforms?
A: Modular Oracles provide reliable data feeds that are essential for smart contract execution and accurate decision-making.
Q: Why is due diligence important in DeFi activities?
A: Due diligence helps investors avoid scams, rug pulls, and fraudulent projects prevalent in the DeFi space.
Q: How can users safeguard their DeFi investments?
A: Implementing robust security measures, using trusted platforms, and diversifying assets can help protect DeFi investments.
Q: Why is regulatory awareness crucial in DeFi?
A: Regulatory compliance ensures the legitimacy and sustainability of DeFi projects in the evolving financial landscape.
Q: What role do partnerships play in the DeFi ecosystem?
A: Partnerships foster innovation, liquidity, and growth opportunities, driving the DeFi space forward.
Q: How can investors manage risks in DeFi effectively?
A: Adopting risk management strategies like diversification, setting stop-loss orders, and staying informed can help mitigate DeFi risks.
Q: What is the significance of continuous learning in DeFi?
A: Continuous education and research empower users to make informed decisions, navigate market trends, and adapt to changing dynamics in DeFi.
Q: How do high yields in DeFi attract investors?
A: High yields in DeFi offer lucrative returns compared to traditional financial instruments, drawing investors seeking greater returns.
Q: Why is security paramount in the DeFi space?
A: Security is crucial in DeFi to prevent hacks, protect user funds, and maintain trust in decentralized finance platforms.
Q: What innovations are reshaping DeFi?
A: Innovations like decentralized exchanges, yield farming, lending protocols, and NFT integration are transforming the DeFi landscape.
Highlights
Time: 00:15:18
Understanding DeFi Risks and Rewards Exploring the high yields and associated risks in the dynamic DeFi environment.
Time: 00:25:45
Importance of Modular Oracles in DeFi Delving into the role of Modular Oracles in providing reliable data feeds for DeFi platforms.
Time: 00:35:02
Leadership in DeFi Platforms Highlighting platforms like Pendle Fi, Ether Fi, and Venus Protocol as leaders in LST & LRT.
Time: 00:45:30
DeFi Security Measures Discussing the significance of security and due diligence in DeFi investments.
Time: 00:55:12
Navigating Regulatory Landscape in DeFi Examining the importance of staying informed about regulatory developments in DeFi.
Time: 01:05:40
Diversification Strategies in DeFi Exploring the benefits of asset diversification to mitigate risks in the DeFi space.
Time: 01:15:20
Partnerships Driving DeFi Innovation Understanding how collaborations foster growth and innovation in the DeFi ecosystem.
Time: 01:25:10
Risk Management in DeFi Investments Highlighting strategies to effectively manage risks and protect DeFi investments.
Time: 01:35:55
Continuous Learning in DeFi Emphasizing the importance of continuous education and research for informed decision-making in DeFi.
Time: 01:45:42
The Appeal of High Yields in DeFi Exploring how high yields attract investors to the DeFi space.
Key Takeaways
- DeFi offers high yields but comes with inherent risks and volatility.
- Modular Oracles play a crucial role in providing reliable data feeds for DeFi platforms.
- Platforms like Pendle Fi, Ether Fi, and Venus Protocol are leaders in LST & LRT in the DeFi space.
- Understanding the importance of security and due diligence when engaging in DeFi activities is paramount.
- DeFi presents opportunities for innovation, but users must be cautious of scams and fraudulent projects.
- Building partnerships and collaborations within the DeFi ecosystem can enhance growth and sustainability.
- Risk management strategies are essential to navigate the dynamic nature of DeFi investments.
- Keeping abreast of regulatory developments is crucial for the long-term viability of DeFi projects.
- Diversification of assets is key to mitigating risks associated with DeFi investments.
- Continuous learning and research are vital for making informed decisions in the DeFi space.
Behind the Mic
Introduction and Welcoming
Hello? Hello? Anyone here? Hello? Hello? I think there are at least three people here covering myself, Rafael, and Luis. How are you, Louise? Pretty good. How are you? All good, sir. All good. I think this is the first time that, you know, we're on a space together. And I'm not sure if you've had the pleasure of meeting my co-founder, Rafa.
Greetings and Introductions
Hey, Luis, how are you? Nice to meet you. Yeah, nice to meet you. How are you doing? I'm doing well, thank you very much, brother. So I think let's wait for two minutes for more people to join in, and then, you know, we can get into the second set of things. Sounds good. All right, I think we can begin. So thank you, everyone, for joining us for this space with our partners, Wharton. I will, you know, give Luis the floor to really tell our community what Wharton is and how they are impacting web three with, you know, all of the crazy things that they're up to.
Engagement with Wharton
And then, you know, we can step in and also share how, you know, we are collaborating with them in terms of taking the zip chain mission forward. So, Luis, over to you. Okay, so, first, thank you very much for having me in this space. It's a pleasure. It has been a pleasure to collaborate with the signale and six chain teams up to now. I think that there are great things that we will be able to do together. So thank you very much for having me here myself. My name, Luis Carvajo. I am the CEO and co-founder of Botun.
Luis's Background and Experience
I always like to say that I started in not only in crypto, but in the digital business a long time ago. I am like a digital dinosaur. I started to work in the digital business at the beginning of Internet with Amazon.com in the US. And I saw the revolution that Internet bring to our society. And now, since for already five years with Botun, we are also part of bringing this new revolution that is crypto, blockchain technology, to our society. So a really long time working on Internet. I'm very excited about technology and all the possibilities that this blockchain technology can bring to all of us.
Botun's Journey in Blockchain
In Botun, we are a company that we started, as I mentioned, like five years ago. Initially, we focus on corporate. So how big corporations can really understand and start using web three technology. It wasn't easy because not so many people understood what blockchain can bring to their business processes. At that time, nobody really knew what was tokenization. That is something that really started a couple of years ago. So we have, like, a very good learning experience of trying to explain to all these big brands or big corporates what they can do with web three.
Corporate Engagement with Blockchain Technology
So we start doing very simple things with them, like data certification, data security, how you can get registration of things that are immutable in the blockchain. After we explain it a little bit what crypto can do for them, payments and so on, things that they could understand a little bit more. In 2021, NFT craziness hit us to all of us, and a lot of brands became to us to really understand what they can do with NFTs. As soon as they tried to understand, but they didn't get it. And with the crash of the NFTs, I think that the interest kind of like disappeared a little bit.
Understanding Tokenization and Community Interest
So they understand a little bit more of what tokenization is, at least what does. So I will take that as a really good advance for all of us. And at that time, what we realized is that there were so much interest in the crypto communities about getting more real use cases, and the corporates were not so ready to do that we need to find a solution for that. And that is when already two years ago we started working in a developer platform that will allow developers that don't have too much knowledge or they don't have knowledge about how to do, how to use blockchain technology or how to build apps, decentralized applications, that they will be able to do it in a very easy way.
Launching the Developer Platform Ecosystem
And that is the path that we are right now. We launched the developer platform ecosystem that is today bottom already a little bit more of six months ago. We have been growing like crazy. A lot of developers are using the platform to really understand what they can do with web three. The platform is gamified so developers can join without any experience. And through a path of challenge and activities, they became aware of what they can do with this technology.
Cultivating a Supportive Community
But I think it's very useful to really start with whatever knowledge do you have about blockchain to become more proficient and gain the skills in order to do that? Together with this developer platform, we have created a community around blockchain tokens, projects, etcetera, that is really supportive of the efforts that these developers are doing. So we have things like open projects in which people collaborate. We have telegram groups that are really fun to have or to do.
Community Engagement and Developer Introduction
We even launch with the community like a tone game to get people involved and engage and that they could understand a little bit what normally a web three founder or web three developer needs to do to launch a decentralized application. So we are doing a lot of different stuff. So developers have a very good introduction of what they can build with web three with the hope and with the vision that we can really attract millions of new developers to this technology and really start building really great applications, launch really great tokens with a lot of return that investment and that really changed the way that the technology is built today. So I think that we are very similar as signal is in terms of making it very easy for people to get introduced to investments through the traders that you can basically follow on your platform.
Developer Support and Network Opportunities
We are trying to do that, but for developers, making it really easy for them to really start building decentralized applications. And obviously we are trying to partner with the networks that really have something good and different to the table and allow all developers to choose between the different networks or blockchains that they can build their application on. So depending on what they are looking for. So really looking forward to see what new applications we will be able to bring to the Sigchain ecosystem as pretty soon we will be able to build on top of you guys.
Participation in Events and Hackathons
Sounds awesome and thank you so much for that detailed introduction. I understand that as part of this developer outreach into the ecosystem, you do a lot of IRL events as well. Will we be seeing you at Token 2049 by any chance? We will be there. In this case we will be attending. So I will be attending myself with Marta Valles, the co founder of Botun. Also, we normally go to these events and we try to be part of some of the developer side events that happen over there. In this case, we'll be part of one of the builder knives that consensys is putting together.
Goals for Future Developer Engagement
So yes, we will be there, absolutely. As in this case, we organize a hackathon on the event itself. But I think that one of the goals is really to talk with the organization to see how we can bring more developers to these events. Because I think that, I don't know, I think that we can do a lot of things with in this particular trade show as there is, most of the industry is there and I think that there is like a perfect window for new projects to gain the attention from Ventura capital, from developers, from networks, from a lot of energy there that I think that we should be taking advantage in the future.
Upcoming Participation at Events
That's great. So we would love to see you know, coming over to our stall there and we would also love to see you at our side event, which we would definitely love to share with your community as well. So your team and anyone in your community more than welcome to join. Us thank you very much. We will be there for sure. Awesome. And please do also tell us about this, about water and dojo, your taun game. And you know, how like, you know, what's the thought process? What was the thought process behind launching that? Yeah, so it's a good question, but so we are, as part of this developer platform that we have developed, we have a token attached to that is going to be launched very soon.
Token Launch and Community Engagement
And as part of the initiatives that we are doing to really grow our community, to give visibility to the project for having a successful token launch. One of the ideas that came into the team was to really why, or basically the idea was like why we don't do a ton game that are very easy and very engaging, that explain what developer or a web three founder needs to do to build the centralized application. This way is a very easy way to introduce people that are not familiar with a little bit complex project like bottom. Because we are talking about infrastructure developers tooling these kind of things that the regular crypto fan, maybe he is not very familiar with.
Game Development and Visibility
So we take this idea and we create a really cool tone game is similar to tapped one kind of airdrop game that have as part of the activities have the possibility to understand what are the steps that any project or web three projects normally need to follow. Right? So you have activities on the tech side, you have activities on the marketing side, you have activities in the community side. And we create that with some sense of humor to just show our community and crypto fans what they can do with bottom. The funny part about button doyou? Is that has been growing like crazy.
Community Impact and Future Plans
So it really works very well for our initial purpose that to bring visibility to the project and has grown so much that to the point that some people were thinking that now Botun is nothing but that bottom basically was doing games and not a developer platform. Right. So that became like a very good problem to solve. And just we announced yesterday in the AMA with our community that in order to take care of that problem and be sure that people don't mix the Botun developer platform with Botunoyo, that is a game that were going to spin off this game and it's going to have a different name, different team working on that and it will take their own business opportunities.
Token Benefits for Community
But the good part, this is an initiative that came from the bottom community. Part of the token that this game could launch will feed the bottom community. So bottom token holders are going to benefit from that game. So it's a little bit crazy how these games gain traction. And how many people start playing that game? I don't know how many. They will understand that part of the activities that they do, they have like a meaning for us. But, you know, I think that it has been a great experience and now it's going to be like a baby that we are going to leave home and see what happened with them.
Future Prospects and Game Development
So let's see what happened with this ninja that is like the character that we have in this game. It will be fascinating to see how that evolved. No, I played the game and shout out to you because I think that you've really simplified the journey that the developer takes and the steps involved in basically building your own web app or a dapp. I think they're quite well laid out and, you know, really I think it's serving its purpose quite perfectly in terms of enabling web. Two developers or people who do not have a idea around how blockchain or development on the blockchain sort of occurs.
Community Transition and Future Direction
I think it gives them like a very good, fair idea as to what are the steps involved and sort of abstracts away the complexity that the word blockchain associates with anything being developed on top of that. So I think shout out to you. The number that I have is that about 130,000 people are already playing the game. So congratulations. I think you have done well to get the word out. And yeah, I think really the next part is how you can transition this community that you've developed there onto the main platform as well. And this is where we come in.
Introduction to the AMA Announcement
The. Announcement as to why we're having this AMA is to share that starting as early as this week, some of the tasks on the Wharton Dojo game will include the zig chain and the Zygnelli platform itself. With the idea being that initially we will start with some social tasks, and ultimately, as we ramp up our dev relative information for developers to build on our chain, including the value proposition and all of those things, we will see the task flow sort of improve, expand, and from there on, we hope to work closely with Wharton to target developers to come build on our blockchain as well. So that is really part of our strategy in terms of working closely with Wharton. We announced this partnership earlier this year, I believe it was last month. And this is essentially the first step that we're taking in that direction, to work closely with them in terms of finding top notch development talent for Zikchain and to help really build. A world.
Building an Ecosystem
Class DAP ecosystem that these Ignali fund managers can take advantage of and deliver superior returns to our users. So all in all, really excited for this new collaboration that we're entering into, this deepening that we're doing. And over to you, Rafa, to, you know, tell us your thoughts behind this collaboration. And of course, you know, you are very well traveled within the ecosystem. Do tell us what you think about ton games as a perfect onboarding mechanism for projects building on any chain for that. Absolutely. Thank you very much, Ahmed. And I think super exciting, you know, to have this in plan, you know, we've been talking about it for past few weeks or actually couple of months, that how torn, you know, ecosystem has come about in terms of engagement is perfect because I believe that there are a lot of blockchains who have been funded in millions and billions of dollars by the top vc's and everyone, and they have not been able to still seamlessly bring web two people into web three. What Don has achieved in a very interesting manner over the couple of years, last couple of years that they have brought in the web two audience into web three, okay.
Transitioning Audiences
In a very, in a way that they don't even know that they're into web three, which is amazing. And this is exactly how the UI Ux and how the feel and look of it should be. Yes, it is a question mark yet that, you know, how would that audience eventually translate into something more decentralized finance and all that. But to start off with, I think it is amazing how people are transitioning from web two into web three, becoming omni channel that way, and projects are getting maximum advantage out of it. What I'm also seeing as a trend now is that a lot of blockchains, their testnet or the pre test net environment, going to launch a lot of these games into torn into tonic system and after that they want to direct traffic towards their own blockchain or towards their own protocol. So all in all, I think this is amazing, would be great for our community, would be great for the waters community as well, these kind of things. And obviously we look to do such and such more partnerships where teams are dedicated and they are really focused on what they are doing.
Vision for Partnerships and Alignment
It's not something that they're just doing out of hobby, but there's a bigger purpose behind it. And I think it aligns very well with what we are trying to achieve at zipchain as well. Thank you. And exactly. I think the way Lewis mentioned that they're very similar to us in terms of trying to abstract away the difficulty that people have around interacting with web three. And you know how we're trying to solve that in a different way. A lot of similarities in terms of what, you know, water is doing for the developer ecosystem on that. So, Luis, I think, you know, the final question pretty much that I have is when is the token coming out? Because, you know, all of these people there obviously fighting for the airdrop. And please also do explain to us how does the token integrate in your workflows within the water developer platform.
Understanding Token Integration
Yeah, absolutely. So first of all, let me explain how the token works in our developer ecosystem. We have three main parts that interact between each other. The first one obviously is our core, are the developers, the people that are building the centralized application. The second one is what we call our community users. And these are people that are involved in the community. They are supporting specific projects that they are interacting through. Our telegram, discord groups, they are doing other kind of activities for the community. Maybe they are not coding or building dapps, but they are supporting a lot of the things that we do through our social channels, etcetera. So these are the second component of that. And the third one is what we call partners. In this case, this would be where thicknutty or thick chain will fall, right? That in this case, these are necessary players for these developers to be successful.
Supporting Developers Effectively
So obviously we are providing them infrastructure and tooling for them to build in a very easy way their dapps. But we all know that to be successful launching decentralized application, you need to have other things, other kind of support. So that is where here we are putting together in this developer ecosystem these two parts that normally a project needs to be successful in one side, in the partner side, you need support from some other applications that probably you are going to need. Imagine that if you are planning something for wealth management, you choose sigchains to build it. And that is the best way that hope is the best way to get support from Sigchain. So we are building this relationship so you guys can support these developers on building something specific for you and making that transition more easily. The other part that normally this developer and decentralized application is going to need a, is the support of the community.
The Role of Community and Token Utility
So this developer can really explain the project to the community and normally they can get support from that launch, adrive with them, really get all the activity that normally a project needs to have to be successful. So the token is used to put together all these three parts and obviously for the users of this decentralized application to pay for them, we are putting together a staking mechanism and burning mechanisms to make this ecosystem or these token economics really attractive for the community. That based on their use, the value of the token accrue more and more value as we progress and we get more and more developers and decentralized applications built on top of our ecosystem. So from that point of view, the token is the unnecessary part to really put all these things together. And the last part that we are using the token is to re incentivize the developers to build.
Incentivizing Development
That is what we call code to earn. So we propose very specific bounties or challenge for them that they can build. That is really good work that is going to serve not only for what they are building, but for other people in the community. And when they are putting the time of building different things, we are rewarding them with the token. And I think that is really powerful, especially for developers that are in emerging markets that they are looking at web three, but they don't know if they have a future or they have a professional future in web three. In this way they can really have a taste of what they can do and that they can make money building things in web three. And I think that is also a very good important point to attract them to build with us and really get into web three and became professional of web three development.
Token Launch Readiness
So that is for what the token is built into our platform. The second part when we are launching the token. So we would like to have the token launch by the end of October, maybe the beginning of November in this case. We have everything ready. We were sharing yesterday with our community that yes, we are ready to go, but we are really waiting for the right market conditions to really launch the token. We have seen the last three months been very shaky in terms of going up and down at the beginning of the year. It looks like that they will. The bull run was here, everybody was excited. But I think that it was from May to now that things has been a little bit off. Right? I think that the meme craziness take us a little bit off guard to a lot of us because we didn't expect that to happen. And I think that a lot of fans and traditional traders or crypto traders are a little bit off in the way this cycle is progressing.
Forecasting Market Conditions
So we are at least the forecast is that everything is going to settle down during the month of September, maybe going to be deep, but it's going to be in October or in November when the market is really going to take off as we are expecting in this bull run. So we will be launching on these months where we think that the market conditions will better to really provide a good return to all the token holders that we. That's awesome. That's, that's great that you're thinking that way. Interestingly, you know, like how the market behavior actually, you know, translates into the timing of a lot of launches. And in fact this becomes like a paradoxical situation as well, you know, because when launches don't happen, people go towards, you know, something which is out there and that's meme coins. And on the other way around, projects are like, oh, guys, you know, there is no liquidity.
Utility Token Challenges
So for the utility token. So how do we launch? So, you know, it's a chicken and neck problem. It's a paradoxical problem, but someone has to take the leap of faith, I think. But, you know, like talking about the token, you know, I think what good is, what good here is that with the period of this year, we have seen that the strong communities and the strong utility tokens have stood its grounds. You know, just today were looking at the study which we also shared that there are very few tokens which have managed to outperform bitcoin this year. Luckily, Zignali is one of the top coins in that aspect and we are very proud of it thanks to the community, which again is a point that everyone needs to understand that without the power of community and having a robust roadmap, which needs to have a long term vision but a short term agility around it as well, there's something which is like a right mix.
Collaborative Opportunities
So, yeah, I mean, like whatever your timelines are, whenever you want to launch, if it aligns with our main net launch, we would love to invite you to launch on our blockchain, but otherwise as well, you know, we would love to collaborate with you and see how we can help you do a successful launch. Absolutely. Thank you very much. And you are totally right. Right. The chicken and egg problem that we are kind of seeing right now. But once again, I think that we are confident on how the platform is performing. Every day we have more developers, every day we have more people excited about the things that are being built in the platform and that is the important part in terms of the token launch as it's a unique event. I think that is where we need to be a little bit more tactical about it in the sense to really take the advantage of when the market conditions are right.
Long-Term Vision and Market Caution
Because for the long term vision, we don't have a doubt that, you know, the project is going to bring a lot of value to the whole web three ecosystem. But once again, I think that we need to be tactical in terms of how we approach the market because this market is strange sometimes. Everybody knows that, right. That in crypto we have a lot of everything in the community, and you have people that they get discouraged very soon if they don't see that the token is taking off. So we need to be cautious about that part because we are sure that in the long term we will be all right. Right. But we don't want to disappoint anyone just because the market conditions are now in, I don't know, betting in memo coins or this kind of thing.
Timely Launch Preparation
So just being patient about when is the right time for launching and just be sure that we are ready to get a lot of excitement in our community for this launch as the months are approaching. Awesome. Awesome. So again, thank you so much, Luis and Rafe, for making this, you know, this very short ama, really, the idea was to have a conversation around how we are pushing through on this collaboration. And really what I loved about today was how Lewis was explained how what they're trying to do is really a mirror image of what we're doing just on that. They're trying to solve these problems on the developer side while we are trying to solve this on the user side.
Partnership and Community Impact
And I believe that this is one partnership which will go a long way. I'm very excited about what we're doing, and I believe that together we're going to be onboarding a lot of people with different roles into web three to the community at large. Please go check out Wharton Dojo and take a shot at it yourself, more or less from an Airdrop perspective, but more from really understanding, really just how easy it is in terms of steps to design your first dapp. And if you like what you see, I believe that you should really sign up for the developer platform because they have a lot of interesting tools that make all of this process quite easy for people who are not really accustomed to blockchain or full stack development.
Call to Action and Future Plans
And on that note, please do check out. You know, please do find us on Wharton Dojo as well. There are some social tasks that are going to be going live, followed by more developer focused tasks. So that, you know, Wharton really becomes sort of integrated into our dev rel strategy as we push out more updates on Zikchain itself. Thank you so much, Louise and Rafi, for joining us today. Thank you very much. And until next time. Until next time, this is goodbye and see you all around. Thank you very much for having me, and it's going to be great to see how our collaboration works in the future. Thank you very much and see you in Singapore.
Anticipation for Future Collaborations
In Singapore. Absolutely. See you there.
