Review of Daniel Rumiantsev’s Yoshi.Exchange AMA Livestream hosted by Pityok from Cryptonite
Yesterday Daniel Rumiantsev, a co-founder of Yoshi.Exchange United DEX and Payment System appeared on a livestream hosted by Cryptonite.
Daniel delivered on a very hot topic of the rapid development of Yoshi.Exchange, explained its features and provided some insights about Yoshi’s plans for the near future.
The AMA session opened with Pityok asking Daniel about his path into this brave new world of crypto and Daniel told us that he has learned about BTC as early as 2013, but became more seriously interested in this industry no sooner than 2016 when, as he recalls it, he attended a relatively small crypto-party at the time when price of 1 ETH was at about USD 10.00 level and figured out that there is a huge potential in this industry.
With Fantom Opera blockchain Daniel got acquainted somewhat later, precisely in the late 2020 as by that time it became clear that there is a strong demand for a fast, secure and scalable blockchain network.
Daniel explains that there are multiple DEX’es on Fantom network, but none of the well known ones offers a convenient way to enter them as they actually don’t provide any way of using them if you do not have Fantom tokens.
An idea of creation of a platform where you are able to just come “empty handed” and buy your first tokens with your fiat money by a card transaction appeared.
Currently Yoshi.Exhcange functions in beta version, already allowing functionality of DEX Aggregator, which minimizes the spread by choosing the best token prices from multiple exchanges when a user comes to do a token swap.
When Yoshi.Exchange rolls out its full functionality, it will truly become a one-stop-shop, which offers you a DEX Aggregator, a wallet, an instrument to purchase tokens with fiat money and the last but not the least is that Yoshi offers its widget to all website owners completely for free and even with an ability to remove Yoshi’s logo if they like.
This way any website owners adds to his website a full DEX functionality and can treat his users with this functionality at full swing. But wait, there is more to that as Daniel explains that any merchant will be able to add her own tokens into ones that the user of their website is able to purchase with a widget while on their website. Thus Yoshi.Exhcange actually creates a tool for issuers to sell their tokens with a real DEX platform’s functionality while the users don’t even leave their website.
In a sense we Yoshi.Exchange is empowering merchants with a power of DeFi.
Then Pityok asked Daniel about the way the DEX Aggregator works, either through P2P transactions or through the Liquidity Pool and Daniel confirmed that Yoshi.Exchange works through a Liquidity Pool, because it provides more constant liquidity and it is probably one of the main parameters by which users choose which DEX to use.
Daniel also shared his vision of Yoshi’s position on the market of Fantom DEX’s: “We are not trying to bully our way through the market, stealing the users from the other Exchanges, but instead we are willing to increase the value for all agents of this market by utilizing true potential of the Fantom Network of by attracting all segments of users by simplifying the entrance threshold for people new to crypto, while also providing liquidity and functionality for tech savvy users”.
Then Pityok proceeded into the Q&A session, where Daniel mentioned that Yoshi.Exchange is likely to become the first project on Fantom network which will enable its users to buy crypto with your banking card.
Then Pityok opened Yoshi.Exchange website and checked the user interface of swaps and widget page, while Daniel explained that Yoshi already has one agreed partners, specifically Just Yours for empowering its users with Yoshi’s functionality.
Then Pityok and Daniel mentioned the Fantom Developer Conference 2021 which happened in late October in Abu Dhabi, UAE, where Yoshi.Exchange was presented alongside the other promising projects which are being built on Fantom.
Pityok noticed that Yoshi.Exchange received lots of praise from Harry Yeh (Managing Director of Quantum Fintech and Binary Fintech, one of the leading figures in the promotion of Fantom blockchain), who was a center figure of the conference.
As a DEX Aggregator, Yoshi.Exchage launched literally on October 24th , literally one day before the conference started, and it already became one of the most notable projects of the conference.
Then Binance Cloud was discussed, where Daniel explained that Binance Cloud will be used to give Yoshi.Exchange some extra functionality of CEX (Centralized [Cryptocurrency] Exchange), which would certainly bring new users and increase value of Yoshi.Exhcnage for the public. Binance Cloud is an excellent solution, which solves many technical aspects of constructing a CEX, and allowing projects to unroll their CEX functionality while working on value addition and not solving technical problems.
Afterwards there was a deep insight into the future of the industry of DeFi, whether it is going to be mass adopted. Daniel told us that mass adoption is inevitable as there is strong demand for the featues of DeFi in the modern World.
He said: “We live in a strange time, when globalization happens on a tremendous pace, while conservative financial service providers are trying to localize and limit their customers due to imposed regulations and unnecessarily strict financial monitoring processes”.
As for parts of the roadmap which Daniel can currently disclose, by the end of 2021 Yoshi.Exchange is working on the following features:
- By the end of 2021 Yoshi.Exchange should have its own wallet software.
- Issue $YOSHI tokens on BSC network (currently it is only on Fantom)
- Enable the ability of users to buy tokens with a banking card on Yoshi.Exchange
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