DeFi
Decentralized Masters and Their DeFi Journey
Decentralized finance (Challenge) the scene is developing rapidly. Tan Gera and Salim Elhila and have entered this dynamic field by launching Decentralized Masters, a platform to guide and teach people about the world of crypto.
The entrepreneurial duo’s journey shows their ability to adapt, overcome, and evolve, while carving out space in the changing DeFi environment.
Decentralized Masters is a platform designed to educate and guide individuals in Challenge space. It offers comprehensive resources and strategies for navigating the crypto industry, covering everything from portfolio management to market analysis. The platform fosters a community of masterminds, bringing together high-value individuals to share ideas and strategies. Decentralized Masters aim to bridge the gap between traditional finance and the emerging world of DeFi, equipping members with the knowledge and tools needed to succeed.
From Wall Street to Web3
Salim, an AI and big data engineer by training, found his calling beyond the business world. With a background in engineering, mathematics and statistical modeling, he expanded his expertise to include marketing and sales strategies for online businesses, becoming the marketing mastermind behind a combined revenue of $100 million. dollars in these sectors. Yet his real breakthrough came in 2022 when a tweet from Elon Musk sparked his interest in Bitcoin (BTC), propelling him down the rabbit hole of cryptocurrencies.
“I have participated in many Web3 projects, the best known being MetaLegends, where I managed the marketing aspect. This project sold for $20 million. That’s when I realized that things were moving much faster in the Web3 world,” says Salim. “And at that time I met Tan. At the height of the last bull market, we chose to launch something together. And that’s how Decentralized masters has come to this.”
Tan, on the other hand, began his journey in the world of finance, working his way up through the ranks of investment banking. From the Paris suburbs, he followed a traditional path, landing a role on Wall Street, where he witnessed the inner workings of the banking industry. But Tan’s experience attending crypto conferences and witnessing the potential of blockchain technology led him to shift gears. He recognized the power of DeFi, especially compared to traditional banking systems, and made the transition to the crypto space.
“At 21, I passed my CFP1 and had access to Wall Street. I interned there as an investment banker and it really opened my eyes,” adds Tan. “I saw behind the curtains of the big investment banks how the game was rigged. And I saw real use cases for crypto, how it could make everything better.
Transform adversity into opportunity
The creation of decentralized masters came at a crucial time. The company was launched just before a brutal stock market crash: one of the largest centralized exchanges in the United States, FTX, collapsed, triggering a domino effect throughout the industry. The fall of Sam Bankman-Fried’s empire has sparked widespread fear, eroded confidence in CEXs and intensified challenges for a freshly launched business.
Despite early success, their journey took a drastic turn when their payment processor unexpectedly blocked transactions and banking partners temporarily froze funds. Additionally, social platforms were limiting their content and it felt like everyone was against them. However, Salim and Tan saw opportunity in adversity.
“We were starting to sell very well. It was a huge success. But after one or two weeks of selling, the FTX crash happened,” Salim reflects. “And from there, everything went downhill. We almost gave up, it was like the entire Universe was conspiring to make sure we wouldn’t win. But at the end of the year, we were like, you know what, if we can do this during a bear market, imagine how amazing it will be during a bull market? And from there, it was a crazy climb.
The duo’s resilience paid off, as they found new banking partners and payment processors, and Decentralized Masters grew from zero employees at the end of 2022 to more than 80 team members in just one year.
Both entrepreneurs now see the end of November 2022 as a turning point for the entire DeFi space. People recognized that centralized exchanges were insecure and reaffirmed the value proposition of DeFi platforms.
Tan notes that centralized exchanges operate like traditional banks, using customer assets to make money and offering crypto products without leveraging blockchain technology. According to him, this leads to problems such as limited transparency and a lack of securityas seen in the FTX case.
“What are centralized exchanges for? They pay their customers 3-4% and use their crypto to earn 20-30-40% in DeFi protocols. This is exactly what the bank does when you leave your money in your savings,” he recalls. “What we want to teach people is to keep their funds themselves to protect themselves from the monetary system, so that they can control it and make profits instead of giving them to third parties. »
The decentralized approach
Decentralized Masters offers comprehensive training on the DeFi and crypto markets. The value of the platform lies in its multifaceted approach, from portfolio management and asset selection to technical analysis and strategy development.
For now, the company has a team of 10 full-time analysts who conduct in-depth research on various projects, comparing them on a range of variables. They provide a comprehensive overview of each asset, integrating fundamental, technical, on-chain and team analysis. Projects are then scored based on these variables, resulting in a ranking system to assess their potential for success.
“We are lucky to be surrounded by a team of people who are all experts in their different stories. They do their due diligence on a daily basis,” says Tan. “This allows us to evaluate different protocols, different projects, and ensure that we only invest in projects that have high potential for survival.”
But the team’s vision goes beyond analytics and encompasses community building and mentoring. Decentralized Masters provides a community of masterminds and a platform for members to connect and share knowledge. This vast ecosystem has fostered a thriving community, where members proudly display their credentials.
“We bring together high-value individuals with the same sophistication and values,” notes Salim. “The crypto community is everything: it can make or break a person’s success. Ultimately, when you’re surrounded by the right people, things tend to work out pretty well.
Connecting TradFi and DeFi
The Decentralized Masters narrative was designed to serve as a bridge between traditional finance (TradFi) and DeFi. Their strategies draw on portfolio management principles from Tan’s CFA experience, while also integrating decentralized finance tools. This convergence of two worlds is at the heart of their mission.
“We teach people to avoid risk while maximizing potential rewards. It all depends on the portfolio allocation principles we have and the rules we follow to ensure we avoid drawdowns,” comments Salim. “Once you have decided which 10-12 assets you want to hold, you can use DeFi tools to increase returns from a long-term perspective. When the market turns red, you can add delta neutral strategies and more sophisticated strategies.
The founders draw parallels between the TradFi world and today’s DeFi space, where concepts like takeover and liquid takeover echo the derivatives ideology of traditional finance. They point out that this transition represents a broader shift, with all of TradFi’s innovations moving to DeFi, where everything can be tokenized.
“While TradFi currently has more capabilities thanks to decades of development, DeFi is quickly catching up, especially with financial experts keeping pace. This space needs real finance people to jump ship and help developers,” says Tan, emphasizing the need for collaboration between financial and technical expertise.
This union is embodied in the Decentralized Masters team, with Salim’s engineering prowess and Tan’s financial acumen driving the platform’s growth. The project is poised to grow further, thanks to its dedication to education, innovation and community development. Decentralized Masters’ vision reflects the evolution of the crypto space, as they merge the old and new financial worlds, offering nuanced insights and strategies.
Disclaimer
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The memecoin launchpad saw the largest daily revenue in all of DeFi over the past 24 hours.
Memecoin launchpad Pump.Fun has recorded the highest gross revenue in all of decentralized finance (DeFi) in the last 24 hours, surpassing even Ethereum.
The platform has raised $867,429 in the past 24 hours, compared to $844,276 for Ethereum, according to DeFiLlama. Solana-based Telegram trading bot Trojan was the third-highest revenue generator of the day, as memecoin infrastructure continues to dominate in DeFi.
Pump.Fun generates $315 million in annualized revenue according to DeFiLlama, and has averaged $906,160 per day over the past week.
Income Ranking – Source: DeFiLlama
The memecoin frenzy of the past few months is behind Pump.fun’s dominance. Solana-based memecoins have been the main drug of choice for on-chain degenerates.
The app allows non-technical users to launch their own tokens in minutes. Users can spend as little as $2 to launch their token and are not required to provide liquidity up front. Pump.Fun allows new tokens to trade along a bonding curve until they reach a set market cap of around $75,000, after which the bonding curve will then be burned on Raydium to create a safe liquidity pool.
Pump.Fun generates revenue through accrued fees. The platform charges a 1% fee on transactions that take place on the platform. Once a token is bonded and burned on Raydium, Pump.fun is no longer able to charge the 1% fee.
Ethereum is the blockchain of the second-largest cryptocurrency, Ether, with a market cap of $395 billion. It powers hundreds of applications and thousands of digital assets, and backs over $60 billion in value in smart contracts.
Ethereum generates revenue when users pay fees, called gas and denominated in ETH, to execute transactions and smart contracts.
DeFi Technologies, a Canadian company financial technology companyis set to enhance its trading infrastructure through a new partnership with Zero Computing, according to a July 30 statement shared with CryptoSlate.
The collaboration aims to integrate zero-knowledge proof tools to boost operations on the Solana And Ethereum blockchains by optimizing its ability to identify and execute arbitrage opportunities.
Additionally, it will improve the performance of its DeFi Alpha trading desk by enhancing its use of ZK-enabled maximum extractable value (MEV Strategies).
Zero knowledge Proof of concept (ZKP) technology provides an additional layer of encryption to ensure transaction confidentiality and has recently been widely adopted in cryptographic applications.
Optimization of trading strategies
DeFi Technologies plans to use these tools to refine DeFi Alpha’s ability to spot low-risk arbitrage opportunities. The trading desk has already generated nearly $100 million in revenue this year, and this new partnership is expected to further enhance its algorithmic strategies and market analysis capabilities.
Zero Computing technology will integrate ZKP’s advanced features into DeFi Alpha’s infrastructure. This upgrade will streamline trading processes, improve transaction privacy, and increase operational efficiency.
According to DeFi Technologies, these improvements will increase the security and sophistication of DeFi Alpha’s trading strategies.
The collaboration will also advance commercial approaches for ZK-enabled MEVs, a new concept in Motor vehicles which focuses on maximizing value through transaction fees and arbitrage opportunities within block production.
Additionally, DeFi Technologies plans to leverage Zero Computing technology to develop new financial products, such as zero-knowledge index exchange-traded products (ETPs).
Olivier Roussy Newton, CEO of DeFi Technologies, said:
“By integrating their cutting-edge zero-knowledge technology, we not only improve the efficiency and privacy of our transactions, but we also pave the way for innovative trading strategies.”
Extending Verifiable Computing to Solana
According to the release, Zero Computing has created a versatile, chain-agnostic platform for generating zero-knowledge proofs. The platform currently supports Ethereum and Solana, and the company plans to expand compatibility with other blockchains in the future.
The company added that it is at the forefront of introducing verifiable computation to the Solana blockchain, enabling complex computations to be executed off-chain with on-chain verification. This development represents a significant step in the expansion of ZKPs across various blockchain ecosystems.
Mentioned in this article
Latest Alpha Market Report
Singapore, Asia, July 29, 2024, Chainwire
- Elastos BeL2 to Partner with StarkWare to Integrate Starknet’s ZKPs and Cairo Programming Language with BeL2 for Native DeFi Applications
- Starknet integration allows BeL2 to provide smart contracts and dapps without moving Bitcoin assets off the mainnet
- Starknet Exchange Validates the Strength of BeL2’s Innovation and Leadership in the Native Bitcoin Ecosystem
Elastos BeL2 (Bitcoin Elastos Layer2) has secured a $25,000 grant from Starknet, a technology leader in the field of zero-knowledge proofs (ZKPs). This significant approval highlights the Elastos BeL2 infrastructure and its critical role in advancing Bitcoin-native DeFi, particularly Bitcoin-native lending. By integrating Starknet’s ZKPs and the Cairo programming language, Elastos’ BeL2 will enhance its ability to deliver smart contracts and decentralized applications (dapps) without moving Bitcoin (BTC) assets off the mainnet. This strategic partnership with Starknet demonstrates the growing acceptance and maturity of the BeL2 infrastructure, reinforcing Elastos’ commitment to market leadership in the evolving Bitcoin DeFi market.
Starknet, developed by StarkWare, is known for its advancements in ZKP technology, which improves the privacy and security of blockchain transactions. ZKPs allow one party to prove to another that a statement is true without revealing any information beyond the validity of the statement itself. This technology is fundamental to the evolution of blockchain networks, which will improve BeL2’s ability to integrate complex smart contracts while preserving the integrity and security of Bitcoin.
“We are thrilled to receive this grant from Starknet and announce our partnership to build tighter integrations with its ZKP technology and the Cairo programming language,” said Sasha Mitchell, Head of Bitcoin Layer 2 at Elastos. “This is a major milestone for BeL2 and a true recognition of the maturity and capabilities of our core technology. This support will allow us to further develop our innovation in native Bitcoin lending as we look to capitalize on the growing acceptance of Bitcoin as a viable alternative financial system.”
A closer integration with Cairo will allow BeL2 to leverage this powerful programming language to enhance Bitcoin’s capabilities and deliver secure, efficient, and scalable decentralized finance (DeFi) applications. Specifically, the relationship with Cairo reinforces BeL2’s core technical innovations, including:
- ZKPs ensure secure and private verification of transactions
- Decentralized Arbitrage Using Collateralized Nodes to Supervise and Enforce Fairness in Native Bitcoin DeFi
- BTC Oracle (NYSE:) facilitates cross-chain interactions where information, not assets, is exchanged while Bitcoin remains on the main infrastructure
BeL2’s vision goes beyond technical innovation and aims to innovate by creating a new financial system. The goal is to build a Bitcoin-backed Bretton Woods system, address global debt crises, and strengthen Bitcoin’s role as a global hard currency. This new system will be anchored in the integrity and security of Bitcoin, providing a stable foundation for decentralized financial applications.
As integration with Starknet and the Cairo programming language continues, BeL2 will deliver further advancements in smart contract capabilities, decentralized arbitration, and innovative financial products. At Token 2049, BeL2 will showcase further innovations in its core technologies, including arbitrators, that will underscore Elastos’ vision for a fairer decentralized financial system rooted in Bitcoin.
About Elastos
Elastos is a public blockchain project that integrates blockchain technology with a suite of redesigned platform components to produce a modern Internet infrastructure that provides intrinsic privacy and ownership protection for digital assets. The mission is to create open source services that are accessible to the world, so developers can create an Internet where individuals own and control their data.
The Elastos SmartWeb platform enables organizations to recalibrate how the Internet operates to better control their own data.
https://www.linkedin.com/company/elastosinfo/
ContactPublic Relations ManagerRoger DarashahElastosroger.darashah@elastoselavation.org
DeFi
Compound Agrees to Distribute 30% of Reserves to COMP Shareholders to End Alleged Attack on Its Governance
Compound will introduce the staking program in exchange for Humpy, a notorious whale accused of launching a governance attack on the protocol, negating a recently adopted governance proposal.
Compound is launching a new staking program for COMP holders as a compromise with Humpy, a notorious DeFi whale accused of launching a governance attack against the veteran DeFi protocol.
On July 29, Bryan Colligan, head of business development at Compound, published a governance proposal outlining plans for a new compound participation product that would pay 30% of the project’s current and future reserves to COMP participants.
Colligan noted that the program was requested by Humpy in exchange for his agreement Proposition 289 — which sought to invest 499,000 COMP worth approximately $24 million into a DeFi vault controlled by Humpy, and which appears to have been forced by Humpy and his associates over the weekend.
“We propose the following staking product that meets Humpy’s stated interests as a recent new delegate and holder of COMP in exchange for the repeal of Proposition 289 due to the governance risks it poses to the protocol,” Colligan said. “The Compound Growth Program…will execute the above commitments, given the immediate repeal of Proposition 289.”
Colligan added that the proposal would expire at 11:59 p.m. EST on July 29. Had Humpy not rescinded Proposition 289, Compound would move forward with it. Proposition 290 — block Humpy using the Compound team’s multi-sig to deploy a new governor contract removing the delegate’s governance power behind Proposition 289.
Hunchback tweeted that Proposition 289 had been repealed a few hours ago. “Glad to have brought Compound Finance back into the spotlight,” they said. added. “StakedComp… finally becomes a yield-generating asset!
Markets reacted favorably to the resolution, with the price of COMP increasing by 6.2% over the past 24 hours, according to CoinGecko.
Attack on governance
Proposition 289 proposed investing 499,000 COMP from the Compound treasury into goldCOMP, a yield-generating vault of the Humpy-linked Golden Boys team.
The proposal passed with nearly 52 percent of the vote on July 28, despite two previous iterations of the proposal being defeated by strong opposition. Can And JulyThe proposals notably asked for only 92,000 COMP, with security researchers warning that any deposit of tokens into the goldCOMP vault would cede their governance power.
In May, Michael Lewellen of Web3 security firm OpenZeppelin, note The first proposal was submitted by a new governance delegate who was suddenly awarded 228,000 COMP by five wallets that got their tokens from the Bybit exchange. Combined with his own tokens, the delegate got 325,333 COMP, which is over 81% of the 400,000 tokens required for a governance proposal to reach quorum.
“We have been alerting the community to the risk that these delegates could support a potential attack on governance,” Lewellen said. “The timing of the new proposal and these recent delegations are suspect.”
Read more: Compound community accuses famous whale of attacking engineering governance
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