Zero Trading Fees with WOOTRADE? Find Out More From Ben Yorke

Zero Trading Fees with WOOTRADE? Find Out More From Ben Yorke

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Find out all about WOO trade network, how they got started and where they're going, find out how you can get involved in the WOO token. This episode, Joseph's now in Ben Yorke, VP of marketing for WOO trade network. Hello, Ben, thanks for coming on today and give us some background about yourself prior to starting at wound network. Yeah. Thank you for having me Joe, first off. Yeah. I don't know if anyone may be familiar to, we would know who I am, but apart from that, probably nobody does. So start at the beginning.

I've been in the China blockchain space for quite a while. I've been based out in China for about 10 years and like probably the last four or five years have been pretty active in the blockchain space. So for queen Telegraph, I do an article like a weekly column on China and then I've worked for a few projects, but now like my focus is with world trade. I'm officially the marketing VP there, but you know, as it's a quickly growing company, I help out on a lot of fronts, including business development, like general strategy, community management, PR, that kind of thing. And so, yeah, I mean, I also host a podcast myself with the BSN, which is like, kind of like a nationally funded, like blockchain project for enterprises within China. So I'm like very into that scene as well. So I cover a lot of bases and I wear a lot of hats, but yeah, any question you have, go ahead and throw it at me, Joe, What's your background prior to blockchain, you know, where I came out of the states, I was born in California, Southern California, and I got a degree in business and that was 2009 right after the financial crisis. So it was like, why don't I just go study abroad,

learn some Mandarin and then see where life takes me. And then life took me down a eventful path. I ended up running into some business out here and then the, the getting money out of the country was kind of a thing where Bitcoin was like a solution. And that's kind of how I got my feet wet. That was 2015 at the time. Like, it wasn't very good as like a FEA on ramp or off ramp, but it kind of stuck with you. And then after you S you see like rising up again, then I just kinda jumped in and

I realized like the business applications and just all the other, I guess, ideological, you know, democratization, you know, this, these kinds of ideas. And that just kind of attracted me to it. And eventually here we are Zero. You're almost involved, I guess, almost six years now. Yeah. I guess it's been a while. It's like, It feels like a month, but, but yeah, it's been a while. So at the basics, you know, what is will network? Okay, this is a similar question I had probably about eight or nine months ago when I met the founders. Basically we started as like a quantitative trading firm, and this was back in 2018. It's called Kronos research. They're one of the biggest in the space they

do between like five to 15 billion per day across global exchanges. So the big ones, like the, you know, the, the domain exchanges, they're the ones trading there. And eventually there was so many requests for them to trade because essentially market making trading is market-making essentially that they, it was, you know, very inefficient to be putting capital on all these different exchanges and going through like the KYC jumps and negotiations and all that stuff. So they created a, a pool, which is now the trade network. So basically anyone who needs a liquidity support, IE market-making can connect to this pool via an API. So that's, you know, a lot of the, what we call tier two exchanges are connected to that. I mean, that order books are reflective

of our border books. And then beyond that, you also have like OTCs trading desks, trading teams who also, you know, value the use of this liquidity, because it is it's, it's zero fee. I guess that's kind of the special thing. And maybe we'll get to that later, but that's, that's essentially what we'll trade is. In a nutshell, that's like a big liquidity network. So as Kronos research, the owner, how how's it structured? I guess, I guess parent company is the right word, the same, co-founders manage Kronos as manage us. So there's three of them. And then one of them is very focused on the, the

electronic trading side, like the quantitative trading side. So that's more like the Kronos side and then another, one's more on the product, which would be eventually things like Wix, which I guess we'll get to. And then the other one's more on like business development and investor relations. And that kind of crosses over into both because a lot of the people who use Kronos research are also invested in new trade. So there's some synergy there. So when Was the wound network established and where where's it located headquarters 2019, they started out, I believe in the British Virgin Isles, which is a, a place where a lot of these crypto first companies are domiciled, but now it's, it's, they're, they're headquartered in Taiwan and they're looking at getting licenses in every jurisdiction possible so that we can service as many clients as possible. And You mentioned the will ex can you explain what that is? Sure. Like basically once we had this giant network of liquidity and when I'm talking

about, because it's aggregated from all these different sources, it is essentially more depth than the other sources, like any one single source and then less slippage, let us smaller spreads. So like the distance between the first buy order and the first sell order is a lot tighter on WEX or sorry, on the wound network. So we had this network and, you know, a lot of people want access to it. So, you know, the next logical step is to build a front end, which we call a graphic user interface, a GUI, a trading gooey. And that's essentially what we'll X is. Right.

Very similar to an exchange. And that we're more focused on active and professional traders. Right. We haven't rolled out a lot of like, you know, launch pools and things like that, which, which we might later, but it's for now, it's more for like active And that's been active for awhile. The wax let's be, well, we Rolled it out, I guess in March, I guess it was. Yeah. When we first started getting on, I think like March 31st was when people got in like the beta and now we're approaching the end of June. We're going to go to like an open beta where more people can get in. Then in July there'll be like

mobile app, full launch. Anybody can get in. So it's very close. So is there Any geographic restrictions to users are signing up? Well, Unfortunately, unfortunately you being in the U S it's a very tricky geographical region, and we've seen like what the sec can do to people who follow file. So obviously our goal is to become compliant and to develop within existing regulatory frameworks and then go from there. So, you know, right now, like even China is a tough region to work in, but beyond that, and a few of the, the ones that would be on the U S blacklist like North Korea, Iraq, like these kind of places, it's pretty much fair game. So like Europe is Australia, like all these regions

and is pretty, did you guys Have a full KYC on board At the moment? It's less than two BTC per day withdrawals, which is pretty straightforward, but for the C5 part, and I should probably take a step back. Like this wax is only one product on the wound network that will have, you know, eventually like a standard KYC, because we want that to be like a legitimate, you know, business model beyond that, you know, we're also find ways to put this liquidity into defy products. And one thing we're really good at because of our background is traders is generating yield. So we generate yield through trading strategies, right? So structuring products around that, particularly DFI products, it's very interesting. And that's something we're working on any sort of decks.

Like if we delivered our liquidity into the back end, you know, it makes them much more efficient. So we're working on like a whole wide range of DPI products. And obviously in defy, you don't have the same KYC restrictions that you might in CFI. So With, you know, the, some of the bigger players, you know, being Coinbase or Binance, kind of what's the differentiation with WOO X and what they're trying to accomplish.

Sure, Sure. I guess so the differentiation, each of them, those are a little different, I would say Coinbase is more like retail, Coinbase pro, maybe more like finance, but QuickBase, it definitely is like a, your first crypto account, right? Like you just connect your bank account and buy some crypto. And then, so we don't want to be like that at this stage. And then Binance, obviously it's like this entire self-contained ecosystem that bridges onto like VSC and you know, these other also contained ecosystems. And they're very ambitious and we love what they do for the industry, because without a Binance, I don't think this last bull run would have been anything like the way it was, but the way we position ourselves, it's more like a platform agnostic network agnostic, meaning we don't care what anyone else is doing. Right. We just look at what traders

want to trade, and we provide those assets at the best price. So for a great example today, we listed Selana. We have a great relationship with Solano. You know, last week we poured our token on the BSC. We have a great relationship with them. So we're, we're much more neutral and we're targeting actively targeting the, the, the, the more active traders who will benefit from the zero fee network. But then we'll see where it goes from there. Like we could, we expect the whole industry is just going to have this, like a fan of like big bang event, right. Where it just keeps exploding outwards and

more people get involved. And the bigger the pie, you know, the bigger everybody slices. Right. So it's not about competition, but yeah, that's, that's how we differentiate ourselves. Right. So if you guys Are aggregating liquidity from centralized and decentralized services, right. Exchanges, what are the benefits for those partners? Okay, well, like if you're like a tier two exchange, I don't wanna name any names, but just like a random tier two exchange, right. You're probably paying some market maker to come provide liquidity, you know, set, buy orders and sell orders on either side. And as the price moves, they kinda have to follow it.

I mean, you probably have to incentivize them to do that because you don't have the retail flow to, for them to make enough money to do it on their own. So to do that, you have to give them a rebates, which is a way you lose money, right. Not lose, it's a cost, it's an expense. And then for the users, obviously, you know, when you go to a tier two exchange, the depth is nothing like finance, right? Like, you know, that finance has the best liquidity in the space will be. Liquidity's very good. Okay. Excellent. Quiddity is good. But beyond that, I mean, by if you're off a main pair, like it's pretty hit or miss. So that, I mean, that restricts people from trading because, you know, you set this order and then it never feels all day.

Right? So that lack of a transaction is, is costing exchanges money. And it's just a bad overall user experience. Eventually people just give up and they go to Binance. So we know we create like this multi win dynamic, where the end user on this platform, he gets a better trading experience. The platform itself, they save money, not having to pay the market makers and rebates and not losing money and transaction fees. And then obviously we capture the flow, which we cycle back through our, through our ecosystem.

Right. And provide to other people. So it's, it's like a win-win for, for everybody, right? Yeah. So that's, that's kind of how that works. If that makes any sense, The tier two exchanges we'll call them can plug into your network, right. To aggregate, to get the aggregated liquidity, which brings a lower cost to them,

which gives more tokens to offer to their users on their exchange in this exact form. Correct. Yeah. And you can actually go into the website X, and you can see like the liquidity and then you can pull up any other exchange that you want and check out the order books side by side, and you can kind of see the difference that aggregation brings to that formula On the lower liquidity, like lower market cap, co tokens that most exchanges are actually losing money on those less things. Or, Yeah. I mean, if there's no volume going through, then it's,

it's not really beneficial for anyone, right. It's not a great trading experience for the user. You know, the market makers who are, who they're, they're not really making any money on it, then it's just like a risk. When you, as a market maker, when you hold these assets, you're taking on this huge risk that, you know, the price dumps and you're stuck holding it and whatever. And then for the exchange, it's just like the it's not generating enough fees for it to really do much.

So again, it's about creating these mutually situations where you know, where everybody wins, how Old does, I guess, how do you guys make money that will never network make money? Great question. Well, we're traders, right? And so traders, when you trade at a certain level on any exchange, and I mentioned this earlier, like they incentivize market makers by giving them fee rebates, which means on maker orders, a make order is where you place an, a buy or a sell. And you wait for somebody to fill it. That's called a maker order. And a taker order is where you just see either a buyer sound and know I want it at that price. I'm taking it. Right? So generally speaking maker orders, you can get zero fees or rebates.

So because we trade at such a high scale, we're, you know, we're eligible for these sort of rebates. So even if somebody buys on our network for that price, and then we do the exact same trade on another network, we're eligible for rebate. And so that's a source of income, right? That's what we call like having the market makers subsidize the retail flow, which is on a smaller exchange. It's the opposite. You know, the market makers are making all the money, but to get them there, the exchange has to subsidize them and to subsidize them, that means charging high fees to retail. So that the whole system's kind of backwards from what a mature industry would look like. Now, there is some danger,

like if you followed traditional finance, when you've, you've heard of things like payment for order flow, Citadel, Robin hood GameStop, like this whole thing, when things are not transparent, there is danger there that it will be abused, but the way it works with us is that orders executed like between like a user and an exchange, like a tier two exchange gets executed there first. Right? So the users trade it's in the order book, they get that price that's that's done. And then the, the exchange that executes on we trade second. So like, we, we have certain mechanisms in place so that people don't worry about getting front run, but just being generally being traders and having, you know, certain spreads like small spreads that that market makers do. This is how market makers make money. That's how they exist. Right. And then when they

make money, they subsidize the retail. So that's, that's basically the whole system. Of course, once we get like WEX up and running, there are much more ways to monetize it in terms of like a, you know, a line of credit to the clients. And then you, you, you charge them for that money lined up margin trading. Obviously there are fees for lending money to people investing the products, the industry laws large in right. The industry loans. Yeah. So what is the, and so again, anything else you wanna add

to that? Or, I mean, I would just add, we're also like we're a quantitative trading firms. So the trading side brings in a lot of revenue, right. And then we'll trade is a zero fee trading network. It allows us to save money by hedging on this network. Right. And hedging is a very important part of trading because you don't want to take on too much risk. So for Kronos makes a lot of sense to have this venue where, where things can happen. So that's, that's kinda how we, you know, we make money. There's a lot of different aspects, but it tends to be very ethical because we know that if we don't put the user first, like eventually this system just wanna exist. Right. Cause

people are going to catch onto it. You know, people in blockchain are pretty, pretty transparent. They like transparent. They like, you know, things they could see. So that's, that's all I want to add On to what is the current daily volume, Daily volume? Good question. It's like anywhere from like a hundred million to 500 million kind of in that range. And it fluctuates depending on the industry, right. Because industry volumes

fluctuate a lot. Like on the weekends, the volumes are a lot lower and because our liquid or our volume, a lot of times comes from a client, their users. Right. So we're very much tied to that. So that's about what our volume is somewhere around there, which is pretty substantial. I think it's like a top 30 exchange. So you guys are,

so your top 30 ish exchange for volume on a daily basis. Yeah. With about 500 retail users and about plenty institutional clients, we tend to go for like bigger, bigger users. So once we expand the network to more people, so we have very high expectations of where the volume is going to go. Yeah. So why don't we go into that?

What are, what are kind of the plans to expand? Well, Definitely the end of the summer is when it'll just be open. So anybody who wants to trade except with the Americans and the Chinese, they'll be able to create an account and go trade. We're also opening features like API trading. So people can use like a third party dashboard to still access the network, but do it from like something they're comfortable with. But then, then you have things like

trading bots and professional traders, really teachers we're opening up that. So there's a lot of things that are going to happen that we think are going to be a catalyst for growth. And then just the BD team working hard on the D by side, signing up more institutions, that kind of thing. A Lot of exchanges, I guess, kind of put it out there that they

provide the best price. How does the customer really know that they're getting the best price on any exchange when they're trading? Well, It's two prices that you pay. One of them is the fee and the fee is very transparent. If you, unlike a certain site, you'll have like a fee tier. And if you fall into that fear, you know, like for every $1 you trade like 0.05 was going to be a fee. Okay. And then the other is that you pay to

spreads, which is if you, you want to buy, but there's not one at like the exact market price. Then maybe you have to drop down a little bit. And this little bit might be very hard for the average retail trader to, to understand. So, I mean, for us, if you stake a few tokens, you get zero fees, right. So the right off the bat, that's just zero makers irritates her. And then if, if you're still curious beyond that, you can literally pull up the order book of WEX alongside the order book of any other big exchange. And you can kind of see just how much liquidity there is grouped within, you know, like the, the, the buys in the cells. And that gives you a good idea of like, if you're in a hurry

and you just want to sell some coins, you know, you don't have to think about, am I paying too much? You just can click the market, sell and market buy-in and that's, that's that? Got it. And so how, how big is the size of the team that's in charge of all of this? Okay. Well, we're creating quite large, the, the team itself, if on we'll trade, I think we're at about like 60 people, which is a very big size like blockchain team.

And then the Kronos side is probably another 110 people. So, I mean, you have tech engineers, you have traders, you know, you have HR and legal and anti money laundering officers and things like that. But we tend to be pretty big just because we have like this established business model from Kronos, the quant firm, and then we're able to leverage that we don't have to act like a startup, so to speak where you, you know, you're begging VCs for money, and then you're selling tokens to the public to just to keep the lights on. Right. So, so w we, we operate much more like an established business, and we're like net income positive, both on Kronos, obviously, and then on new trade as well, which we're quite proud of that we we've got there already, you know, we're no longer worried about runway we're, we're, we're worried about like, you know, how to maximize our results and we're aggressively hiring people and yeah, it's, it's a, it's a big company and a really good company to work for. Yeah. Yeah. I guess over

the last few years, the most profitable or companies have been more in the exchange type, you know, companies that have been right. I mean, so that's interesting. So how about, are you guys like a distributed, like remote team, you guys are headquartered there together, or how are you Three offices? One is credit specific. That's in Thai Taiwan. And then there's another one in Taiwan that is Lu trade specific. And then we have one that is based in China. That is more for both both teams, because Taiwan product side, you get a lot of really talented developers because they have like Mozilla, Spotify, like a lot of these big American corporations. They have headquarters in Taiwan, but in China, the developers, especially

like back end developers are really professional. So you get a different mix. And so we kind of cover both this basis. And then from a BD side, we have people in Southeast Asia, we have people in north America and we have anyone in Europe. I think we're, we're trying to hire some guys in Europe. So yeah, pretty decentralized. How about into the, I guess, kind of leaders of the wound network and who's running the daily operations. Can you give us some insight into their background

experience? Sure. Well, mark, who him and Jack founded it, and mark is a quant, he's a quantitative trader, which means he trades completely using code. Right? So he just builds models that look at things like volume. And they look at things like the time of day and all of these different things. And they incorporate it to kind of predict where the market will

go on very short timeframes, right? Not like if you ask him what's going to happen next week to Bitcoin, he has no idea he doesn't care. Right. It's just like, if you ask him over the next two minutes, what's going to happen. He might be able to look at the numbers and then tell you, so that's what he does. And he's the one who makes sure we don't lose money when we're

providing liquidity to all these different avenues. And then Jack, he's more of a discretionary trader, which means he looks at charts and it's more instinct based, I guess, than, than mathematics based. He like mark came from a company called Knight capital, which is an electronic trading firm. And then they got bought by Citadel, which everyone knows Citadel, very infamous company. So he's, he saw that this was like pre GFC, great financial crisis. And he saw kind of what was going on. And he didn't like, it's

a wind, like Bitcoin came out and he instantly jumped over. And Jack was the same way. He was working at a Deutsche bank and BNP Paribas, which were big institutions. And I don't know the whole story, but I'm pretty sure they were doing things like packaging, you know, like the, the home mortgages into dawns and selling to the people that this kind of stuff. So he, like both of them have a bad taste in their mouth because they started their career right before 2000. And then the CEO ran also, he worked at a company called Freddie Mac. If you look at the great financial crisis, you're,

you'll know what Freddie Mac, they were like, one of the, the ones that, you know, were most effected in a negative way. So they all have very strong traditional finance backgrounds, but they also saw how many flaws there were with the system. So they came together because they both, they, they all went to school at Carnegie Mellon, which is famous for like engineering, computer science. And then when they got out to, into the crypto industry and they realized that everyone was doing it just kind of was naturally just float together. I guess I should add, like on a day-to-day basis markets in terms

of trading, and then Jack is more in charge of like product and then ran is in charge of BD investor relations. He works with me out in China. So, so yeah, it's a good group of guys, very different skillsets, but same philosophy at heart, which is build something cool that can people can, you know, get a piece of and, you know, make some money on without kind of screwing over everybody. I guess. That's, that's the philosophy. So They're all involved in the wound network full time. Yeah. Yeah. A very, very full time.

I think all of us like it's 10:30 PM here. I think we all, we're all working pretty much around the clock to, to build this because it's something we're all passionate about. You know, if, if you took me out of a full-time job, I'd probably just volunteer because I just love the crypto scene and it's, it's, you know, it's a good place to be lots of innovative people. That's good. So let's, we went over to the team. How investors, right. Do you guys have other outside notable investors funds that are in bonds? It, yeah. Well, I mean,

obviously like when they started, they got investment from VCs and like the big ones, like fin Busher dragon fly. If you're familiar with like the big ones, iOS G is another one, three arrows capital. I think everyone who's familiar with defined as about like Soju and, and Kyle and those guys at three hours capital. So like they're yeah, they're involved.

But like now we're kind of past that because like I said, we're, we're making money as a company. So we're looking at different strategic investors. And we were like, we've, we've always had on a roadmap that we're going to do, like a strategic round where we can bring in like some, some more muscle from maybe like the traditional finance side, like a big institution, a big bank or something. So that's something that we're looking at now, how we can go to the next level, maybe pass the crypto VC spot a little bit into something more serious. But, but yeah. Do You feel that the crypto BC's had influence on the success of, to where you are today? Oh yeah. Oh yeah. I mean, well, we wouldn't be here today. Like if it wasn't for like Kronos getting funded in 2018 and then people believing in blue trade at the very beginning, when you, you know, you have an existing business model that works, it's like, there are a lot of headaches getting any sort of new startup going, but still even today we talk with some of the guys that like defy capital and dragon fly.

Like these are very smart people who, who got into the scene early and they see what's going on in areas that we don't see it. Other people that seem very bright in the space, like a wr like primitive capital, like very smart person. And like, I think just by the nature of the industry, people are really willing to like share and work together because they know if you're a liquidity provider and in my portfolio company has this, this struggling decks. Like we just put the pieces together and, you know, good things happen. So yeah, definitely good things to say about most of the VCC. That's A good,

and so you guys do have a token out, right? The WOO token, is that correct? Sure. We do. Like it launched on Halloween of last year and it's kind of like the access pass to the network. Right. If you want zero fee trading with this liquidity, like it's just a simple staking mechanism. That's the very high level explanation of the token. Well, let's Go into, I guess,

as everybody wants to know, right. What are all the benefits of holding the token? Okay. Well, I mean, basically that it exists as like a platform token. That's number one, if you want, if you believe in, you know, what we're building and we have success, then the next logical conclusion is that more and more people are going to be staking and, you know, using the token for that. Another use obviously is the, in the defy side, we're looking at a lot of solutions to allow people to stake. We have really gotten into this, but we're putting a lot of capital on chain. And the

reason is we can essentially replicate the pool that we have on CFI. We can do the exact same thing on defy. So then there's a lot of trade flows that are coming in from there. You can do a similar thing that other DFI protocols do where you're staking and then you're eligible for awards. So that's like another thing on top of that, there's also going to be a lot of investment products, structured investment products where, you know, you might have some fixed return. You, you put any sort of asset there, whether it's like USD T or Bitcoin or Ethereum. And

then you're able to, through other trading strategies, including things like Kronos, they earn yield by using your capital and trading, and then they return that to you. So like the world tokens, going to play a very valuable role in that. And we see the sort of people coming to use. Our products are people who are a little bit more sophisticated in the sense that we won't compete with the pancake swaps with like the 150% APY. Like we're not going to go into that area, but you know, people who feel comfortable, you know, after like a 20% APY to, or like a 30% worry just in that kind of range or even less, I mean, cause it's really just a function of how much risk you're willing to accept for an API. All right. And do you see like an RV? The API is, are quite low. They're like 5% on stables. So we see people coming to use

us who are looking for yield and then the WOO token will access that whether it's, you know, reducing performance fees or, you know, eliminating performance fees or something of that nature. So there's a lot we can do for sure. And governance governance as well. Right. What is, what is the WOO ventures and how does that play a part here? Okay. Well, We kind of hit on VCs like crypto VCs and what a crypto VC does. The good ones is they'll, they'll walk you through like a lot of processes. They'll open a lot of doors, but anytime you have a bull market and you just get these swarm of people who made it big and then they just kind of fall into a VC, I'm sure you've Yeah. And then they fall in late in the cycle and then they had a lot of them fall back out after the cycle. Yeah, exactly. So what Wil ventures does is essentially

like we're positioned to actually support projects, not just like we give them money that they give us some useless token for, to find good products that are building trading related or infrastructure related things that can benefit the we trade ecosystem. And then we support them because a lot of these projects they're founded by really smart people with financial backgrounds or development backgrounds, but they don't really understand the trading aspects. I mean, that's where we can kind of really support them by, you know, introducing exchanges and providing liquidity support and also introducing a lot of people. Cause we, we know almost everyone in this industry through Kronos, so yeah, we provide a lot of value. We can introduce a lot of other exchanges to them,

get their token very, you know, well spotlit so people can see it. And then yeah, I mean, that's kind of our value proposition as a BC company. And then, because we're basically using like the trade networks name as the value proposition, you know, people want to get listed on wax. People want to be, have their market-making liquidity support, all that. We give some of that, the profits back to the token holders through staking mechanisms. So it's kind of a, a lot of people want this, they want access to deals, but like on their own, they don't have the ability to, to recognize the deals or to do due diligence or to negotiate. So this is a secondary way

of kind of getting access to early stage products, projects. Yeah. I think long-term, I think this is going to be something that is very popular because you know, everybody likes to get in early and, and B be the one that, yeah, exactly. Exactly. So is there any specific allocation of, I guess you'd say a share or rev share of those ventures that goes into the blue token? Well, obviously it's very different.

Like how much allocation each project is willing to give. And so, I mean, all of that is negotiated each time. And generally speaking, the further, like the price of Bitcoin drops, the, you know, the easier it is to get allocation. So like during a bear market, it's very easy to, to support projects because nobody wants to, during a bull market, everybody's like their valuation is like 300 million, 500 million. You'd like straight out of the book. So yeah, it depends a lot, I guess it's the, the, the short answer to that, but yeah. What other, So basically a WOO token holders can benefit from the stake rewards can benefit from the venture side, some zero fees. Correct. And

the thing that we're missing, I mean, just the yield of access to yield, like quarter four, we're going to launch a bunch of social trading and coffee trading, where if you're a professional trader, you can actually use our platform to your trades. People who stay tokens on your profile because they they've seen your, your history. And they, they see like what you've done in terms of PNL. Like their trades will marry yours and this is called coffee trading or social trading. And it's just a way for people to

make money. Obviously, if you're the person who's putting your new trades up there, you can charge a performance fee. And it's a way for people like me who are absolutely crap at trading to, to, to get that sort of access to it. And that's always been something like mark and Jack wanted to do was take these products, these high-level investment products, and then just make them more decentralized, more accessible. So yeah, this is just another way. And like the token is that's, that's

always been like kind of the ethos around it, access to more efficient markets, accents, access to yield and access to more like a high level sophisticated investment. When you guys are doing like the token model, how do you guys kind of determine, you know, the incentives and everything, what will ultimately drive the token price? Well, we have a lot of people on our team. Like we kind of glossed over before, so there's a lot of brainstorming sessions. We have a few guys in team who come from very strong financial backgrounds. And

one of the guys, he came from a company called Lazard Lazard, which is like one of the biggest financial consultancy firms in the world. So he was structuring projects for like mergers and acquisitions, not project structuring companies like entire companies for that. So he's one of the guys who will, you know, look at things from a financial point of view and like, he's, he helps out a lot with that on top of that. Like, we also have people who are very strong on the defense side who bring these ideas and you know, you see what other people are doing and how can that be improved? How is it failing? So it's, it's very much a team effort, but yeah, it's, it's something that, that even, even from the community, like we'll listen like in the telegram groups or on Twitter, keep up a good idea, you know, we'll drop it in the chat, they internal chats and we'll say, is this something that makes sense? And you know, sometimes it does, right? So very much a, a whole group effort And working, working people by the blue token right now. Well, I think The best liquidity outside of WEX, which is enclosed beta is probably will be on the will be as one of our, like the first exchanges to launch the blue token. And beyond that, a lot of the tier two exchange partners

also have it, but like we're also quite partial to<inaudible> like if you use a unit swap, the Ethereum fees are super cheap right now. That's a great place. Sushi swap. And it's on there as well. Bank Corp I think is that most liquidity work very close to the bank or guys because they're very, they're very visionary in the space. Like they were one of the first AMM protocols and they have lots of ideas on decentralization.

And we kind of liked that, you know, talking to people who have more experience than us in certain areas, we're very eager to get close to them. So all these platforms, you can find the blue token, you can also get it on BSC, but only on a platform called Dodo. But yeah, I mean, you just go on queen gecko and look it up. You don't need me to tell him everything now I know, Hey, well that Was the short answer. Got to clink echo, look in the market staff. Is that what you're saying? It for the highest

trading volume, Hey look, you never, you never know who's listening for some of us it's us, but you know, sometimes the listeners are not familiar with where to go. I think, I mean, I think we covered most everything from the team, the experience, the project itself and the token. Is there any other areas that you want to mention or Touch base on? Yeah. I'm just kind of curious how you found out about it because now, like the people who have grown into the community, they've all kind of had like a story of like how they found out about it. And so I'm always quite interested in

that we Found, I, well, I have a team of people and honestly we are, we're, we're just researching, I wouldn't say everything, but we're researching most projects and companies across the whole space. So we're kind of aware of what is going on and what projects to invest in and how to do some comparative analysis, you know, on certain Dexis versus other indexes and sexist. Right. So I guess like everything through the internet is, but through, you know, through my team doing research, That's, that's cool. That's like, when am I joined? Because obviously

coming from like a hedge fund, Kronos research, hedge funds, typically don't do a lot of marketing. Like you don't hear about Pitchford firms a bunch because they just don't need marketing. Right. And they don't want competition. Right. So like marketing, wasn't like a huge thing. So they kind of brought me in to like help bridge the gap between the institutional side and, and I guess the Dejan Chad world of, I think, and yeah, I think some of the problem that we've, I wouldn't notice a problem, but some of the things that we have is that a lot of the, a lot of this stuff through YouTube and certain things like all on TA price predictions, right.

I mean, from a lack of interviews or conversations with the projects and companies in the space itself. And so beyond just kind of doing due diligence through websites and, you know, the discourse and certain things, it's always hard to really get an insight into what is going on under a token or a company itself. And so, you know, we're kind of out there seeking the companies that we feel that are bringing them are bringing value to the space that we could get, you know? Yeah. And that's especially common during a bull market because prices are shooting up like that sells, right.

Like very big Publications. We were talking to them back in October and they would, would be telling them the story of Kronos and how big we are. And then they'd still be like, okay, so what about the token? Right. And it always comes back to the token and that's frustrating when you're just starting out and you're trying to build things like you have two options, right? You either you pay the influencers, you play the whole crypto game and I'm sure if you follow like crypto Twitter, you know what I'm talking about? Yeah. Give them $20,000. And they'll say anything about you, even soldier board, right. And soldier boy, 24,000, like that's what it costs. So

we either do that and we get picked up right away and everybody knows who we are or we, you know, build things kind of slowly. And we kind of made a decision to do it the right way, because we didn't want to have that, that their reputation, the supplement reputation after a few years. But it ended up working out really well because everybody who found us had done research and the kind of people who do research are the kind of people you want. And so we were, people would come in the community and I'd ask them the same question I asked you, like, how'd you find us? And they'd be like, oh my buddy at Goldman Sachs, you know, like you recommend, we're just like blown away by like the kind of people who are coming into the community. And I think that paid off because once momentum started moving in

the right direction, we just kept attracting the people who, who do their research and care about fundamentals. And it's built a community that I'm like I enjoy engaging with and, you know, and talking to. And so I'm very grateful that that we've made that decision early on. But yeah, it's been an interesting year and a half interesting half a Year. That's good. So if anybody who's for everyone's, who's listening. I mean, you know, where, where are the best sites for them to go to, to get more information, get a hold of you.

Yeah. You guys, whatever it is. I mean, obviously like on Twitter, just like searching new trade and finding like the main account. Like we communicate a lot through Twitter also. We're on telegram. Like I'm in the chats, like constantly,

just because that's very important. I think in this industry is when people come into that group and they have probably about five minutes to kind of make a decision. All right. Is this the project that I want to, you know, learn more about? Or is this just another scam? Like everything else. So we try to be very, no question is below us kind of a thing. So telegram search, we trade official the website we're overhauling it. So I don't want to recommend it too much cause it's, they need some work. And then obviously check out the exchange like X that would that network. It's kind of cool. Everything is customizable.

So if you just want to, you want to see like a Bitcoin chart over here and then you want to put a neat chart right next to it. You just click, buy new module and then pull it over there. And then you want to make the BTC chart bigger. You just drag it, you know, just click the corner. And it's just, it's, everything's customizable because it's designed for pro traders in the quality of the development's very high, just because the quality of the developers are very good. So definitely check that out. Well Then thank you. Thank you for joining us today. I appreciate

you coming on. Yeah, definitely. Definitely stay in touch. And if you ever have any like questions or like, we talked a lot about we'll trade today, like I'm very happy to talk shop about anything industry related, you know, markets related, trading related, China related, whatever. Like happy to go down that road. Bikes. If you want to get notified of our upcoming exclusive interviews, subscribe and tap the bell icon below, then drop your comments. And lastly, subscribe to our private newsletter at Bull Flag Group . Com

2021-06-20 18:03

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