Naga: Please tell us what made you think of starting Dfinance, how you got into Crypto, and a little bit about yourself?

Stas Oskin: Sure, so I’ve been quite some time in crypto, back all the way to 2011. Bought my first BTC on MtGox, well we all know that one ended.

Naga: What exactly is Dfinance? Could you please tell us a little about it?

Stas Oskin: Since 2014 started working full time in crypto, beginning my professional carrier in Spondoolies the ASIC makers, helping them to launch their B2C line of miners. then met my current long time partners and launched with them Crypti, which was the first JS-based blockchain, and later got forked to Ark and Lisk. then we launched Wings which was a platform focusing on prediction markets for token sales, and had quite a successful run with it, with over 50 projects using the platform. unfortunately, this run ended when the whole ICO phase was over, and we started pivoting Wings to DFinance, the current platform we are working on. we also helped ideating and launching a privacy protocol called Beam MW. This the story in nutshell so far.

Naga: What exactly is Dfinance? Could you please tell us a little about it?

Stas Oskin: So in nutshell DFinance is a way for people to make money from their ideas. if you have a crazy idea for farming token, or a new cool initial offering you want to run, or even some kind of bonding curve mechanism (like Uniswap), we want to help you launch it without knowing anything about coding. we think there are a lot of ideas out there, and a lot of capital looking to invest in them, and want to become a platform bridging between them. We try to achieve this by basically becoming the Wix for DeFi, letting you just to describe your idea by typing it, and then push it with a click for people to play with.

Naga: What are the major milestones Dfinance has achieved so far?

Stas Oskin: We are the first Cosmos protocol which integrated Libra tech, and thus basically bridged between the traditional crypto and the upcoming regulated world. Just imagine being able to launch your ideas in front of 2B users, the amount of hype and capital this potentially may bring. We now also planning to migrate DFinance to Polkadot, and enjoy the vibrant ecosystem rapidly being developed there. So with that we could cover all the popular cross-chain protocols out there – Cosmos and Polkadot, and connect them to Libra. I personally think it will be a huge opportunity, and even if just a fraction of FB users will be exposed to this, the potential is limitless.

Naga: What is the partnership between OpenDefi & Dfinance about? And how does this partnership benefit both Projects.

Stas Oskin: This partnership is important for both companies, in order to increase mass-market adoption and the usage of our technologies, and increase our user bases and the services being offered. We are big fans of Matic, and OpenDeFi being a Matic-based project is of great interest for us. We wanted to integrate DFinance with Matic for quite a while and OpenDeFi partnership is a perfect motivator for that.

Naga: I saw that Dfinance is being built on top of Cosmos, is there any reason for choosing Cosmos?
Stas Oskin: Initially we will focus at connecting the two projects and enabling the integration of real-world tokenized and insured assets. Cosmos was chosen due to it’s readiness back at 2019 as the first cross-chain protocol, and as with time it became a great toolkit to launch new protocols on it, such as Band, Kava, Thorchain to name a few. Having said that, Polkadot now emerged as a viable competitor, which is great for the ecosystem, as it allows choosing the best tool set that fits the tasks at hand. as DFinance aims to be a 2nd layer for popular mainstream projects such as BTC and ETH, building it on top of a cross-chain protocol was the natural choice.

Community Member: How was the Dfinance Virtual Machine (DVM) built and how will it mediate the development of financial solutions? How will the Dnode support planned in the next development phase benefit?

Stas Oskin: it was built by tapping into Libra Move power, to make us Libra compliant and be prepared for the floodgates to be opened by FB into the digital currency world.

Community Member: What is Dfinance plan to gain adoption fast enough that the market will not be saturated with other similar project by now and what advantage could you offer?

Stas Oskin: we been working on making possible type your ideas to reality for last 2 years, so I guess we have some competitive advantage. having said that we have quite far reaching expansion plans, that will hopefully let us capture enough market mindset and be one of the tools of choice in the space

Community Member: How is this ” no-code tools” works actually? How much time it will take to create financial instruments with ” no-code tools”?

Stas Oskin: exactly as it sounds – just type your thoughts into text box (limited by supported templates for the moment), click deploy and have it running in minutes.

Community Member: As an investor, safety is always one of the biggest concerns. What kind of security protection do you provide for the DFinance platform? How to ensure the safety of customer assets?

Stas Oskin: We use Libra which already provides a great security compared to other protocols, and we also hired top security audit companies to review the code. also a lot of emphasis on community to be a guardian and scrutinize the launched instruments, warning against scams and rug pulls.

Community Member: How many validators have you noded so far in total? What would be new story on this regard?

Stas Oskin: We still in testnet, once we hit mainnet we will be aiming to reach 31 active validators that are required by Cosmos for a fast consensus, and obviously several hundreds standby.

Community Memeber: What role do you think Dfinance plays in increasing the adaptability of the blockchain on the global stage? How Dfinance solves Interoperability problem? with Which blockchains Dfinance is interoperable?

Stas Oskin: At the moment we fully support Cosmos and Ethereum, in near future we hope to support Polkadot and Bitcoin, and obviously looking at Matic and others

Community Member: Does Dfinance DEX really have the freedom to create the market pairs it wants with the created tokens? The only requirement would be that it be approved by the community? or is there any other requirement?

Stas Oskin: We aim to have the process governance oriented, with the community being able to choose the best pairs out there

Share your vote!


Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Leave a Reply