Vadim Koleoshkin, COO Show Notes

Vadim Koleoshkin, COO Show Notes

  • If DeFi is a swiss army knife, then Zeron is a DeFi bank that brings all your things together to make them work better for you.
  • Zerion announced an equity investment of $2.0 million from placeholder ventures.  We have spent 5 months in the US searching for partners, a couple months in Berlin and build relationships.  We are happy with our current partners.  This will allow us to grow and bring DeFi to the masses. Up until this fundraising, we have been self-funded.  Zerion is a team of 9 people currently but are hiring.
  • During our announcement, we talked about our growth, but it is all organic growth or word of mouth.  We are starting to get more and more feature requests and reports.
  • This must have been good for your testing and integration having a couple dedicated users.  The Crypto community is super-engaged, and they give us great feedback and advice.  We have strong user retention, and the more assets users have in the Crypto space, the longer they remain users.
  • Zerion has a mobile app.  Desktop is used most by our users right now, but we think in future mobile accounts will increase in use.  Eventually, your iPhone is going to have a secure chip in it so you can have a sub wallet outside of your cold wallet.  This will possible with smart contracts eventually.  You switched to fully launched from beta recently.  So we just recently could switch to app from beta.
  • Has it been hard to keep up with all the new projects in the DeFi space?  It is more challenging as Zerion talks to 4 or 5 new teams a week. It is getting harder to keep up with new projects.
  • Most of your competitor integration apps do not provide the clarity about where all your ETH has gone. Zerion has a great visual reference to look at all the transactions you have made and track these.  DS-proxy wallets have built-in charges on every transaction, and Zerion is free of charges. Zerion will be able to offer premium services and pay a monthly fee and value-added services like tax reconciliation and a link to their accounts so they can create a tax report.
  • Payroll solutions are one area we are working on.  You could pay people in Tokens from token set or C-DAI, and you could get interest on your position. Fulcrum and Compound changed their protocols so they are now earning better rates. Eventually, you could see how you get paid in programmable dollars and as they get paid in, they will go into different assets.
  • Which tokens will you track within Zerion?  The first one to get rid of all the steps. We monitor the market every week to aggregate different protocols. We don’t want to be the gatekeeper of DeFi. Our Team resources limit our ability to check all protocols. We try to look at where projects’ market and what it will look like.  We are looking at whether projects are gaining traction and integrating it into Zerion.
  • We are getting more feedback on the website, and we are going to try to simplify it further later this year.  You have lending and borrowing products. We will frame it from financial viewpoint rather than from protocols.
  • With Zerion you can see the DeFi products people are using and are you tracking user data and which products they are using? We try not to track any information about our users. We need to use data to know what products are being used. We can aggregate all the blockchain data that are public transactions so we can see all DeFi users and what they are using. This is all public data.
  • Are you keeping general internet data or my location?  Just the tokens and the minimal information we have to keep about you and your addresses.
  • Is there a version 2 of Zerion coming soon? We want to simplify onboarding and interactions; we want to enable more protocols for interactions, make it more secure and easy to use.  Several features for these we want to solve in the next year.  We are super excited for insurance to come into the DeFi space and for projects that allow anyone exposure to stocks, gold and ETFs through synthetics. It is similar to synthetics, so they are doing it slightly differently.
  • You will get US market access in stablecoins such as DAI and Augur, which gives people more flexibility.  We will surely track all these assets and let’s see what happens.
  • How would you describe the Russian Ethereum community? There are great developers, and it is very segmented.  Hardcore developers miners and traders; these segments do not communicate between each other. There should be communicated through these segments.  The protocol itself just needs to be maintain, and then there should be integration on top like your project and DeFi on top of this.  In the future, the best DeFi teams should combine programmatic and finance people to create the best projects.
  • The new Ethereum proof of stake switch will happen in the next decade…  ETH 2.0 will bring human creativity and ideas to the market.  It is not an easy problem to solve, but there should not be compromises on trustlessness of the system as a blockchain.
  • The total market cap of the assets is worth billions of dollars now. So Ethereum 2.0 needs to be done right. It is no longer an experiment but a sandbox for financial and gaming innovation. Zerion – the Finance Innovation Sandbox.
  • Beacon chains are going out and moving forward there are not upgrading contracts going forward. Does this play into your processes or the upgrades? We keep our eyes on Ethereum development and how we will migrate onto ETH 2.0 ;  there are a couple of ways you can upgrade contracts to the new versions of their logic. This comes to the question of how we should upgrade smart contracts from a governance point of view across the network.
  • There will be a great hack in DeFi in the future again.
  • Bitcoin DeFi project announcements – will you integrate bitcoin support into Zerion? It is my personal opinion that we should keep our eyes on different DeFi appearing on other chains.
  • Right now we need 3 components for DeFi: you should have a Trustless layer of smart contracts, and Assets on top of this layer (like ICO craze & tokens brought us) and then a community of developer and developer tools which create secure and investable smart contracts. Until a blockchain has these three components, it is hard to predict if DeFi will grow there. Excepting smart contracts, Bitcoin has a strong value change being the most valuable token in the Crypto ecosystem. It has developers who care but less than Ethereum.  The only thing Bitcoin does not have is a trustless layer whereby they can create assets and lock up their tokens from it.
  • Will it be easier to bring trustless bitcoin to Ethereum with projects like end protocol and we just need to bring Bitcoin to Ethereum trustlessly and then it will just be embedded into the DeFi ecosystem or should we use different ways to bring it into the system? There are projects this year (money on-chain) that will address this issue. There needs to be a community that manage the system like MakerToken owners.
  • Do we need privacy features on DeFi? Do you think it is necessary?  It is a big problem that stops big players from coming into the space, like hedge funds and users.  For personal security reasons, it is a good use case to keep addresses private and not visible on-chain.
  • There are generations in the crypto community and religions within the space… and everyone has their own Maximus views.  Bitcoin is an amazing community. It is harder to be part of this community and even if I have an idea, on top of any financial primitive and code it in a couple of days which I could not do on Bitcoin.
  • Vadim’s Favourite projects are in the DeFi space and BioTech.
  • There is a healthy Russian ETH meet up group here in Russia – there were 90 people there early this year.  Why does Russia produce some of the strongest mathematician and code developers in the world?  In general, I think there is strong mathematical education history from Soviet Union era. There are strong university heritage in math and demand of programmers in the market.  It is a good place to work.

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