Removing Barriers to Accessing DeFi - Denisse Halm

hi everyone thanks for staying so i think this is today's last talk so i'll keep it short and sweet not because this topic is not complex it is very complex but i think it is pretty easy to understand so um i'm denise i work at valora i lead strategy operations and product and if you like this talk please follow me twitter you can connect with me in telegram i'll show you those at the end as well so why do i care about accessibility i joined the sello project some three years ago pre-mainnet so i joined cello because its mission is to create to build a financial system that creates the conditions of prosperity for everyone so you probably now know why i care about accessibility um so a little bit about me i am originally from uruguay i now live in california but in between these two places i lived in about eight countries around the world and i opened a bank account in every one of those countries except for one so i was really lucky or privileged but that wasn't the case for everybody i met along the way my neighbor in ghana they couldn't open a bank account because the local branch manager thought their micro entrepreneur income wasn't sufficient for for a bank account a friend and family in mexico that i met while i was living there they rely on remittances to pay for things like medical fees school fees and the availability of a bank account to them means that like those remittances are much less costly for them to access so the reason i care about accessibility in crypto and in d5 is because it's about people it's financial options give people freedom and financial options are personal and so it's about the people so how is this defined in the old world accessibility in traffic is has one metric it's financial inclusion and the world bank defines that with exactly one metric which is access to a bank account generally by adults um this data point 69 is a bit dated i don't know what the world bank is up to um they um they i don't know they have they haven't published anything new but um this means that about 31 percent of the world's adults don't have access to a bank account right that is a bit crazy but enough about tradfy let's move to why we're all here web3 and i would love to learn a little bit about you so i would love if you could give me a show of hands um if you are building dabs is anybody here building it up yes amazing what about a default app yes awesome montalo yeah okay yeah i see you back there awesome and how many of you do you remember your first experience accessing a d5 app do you remember it cool maybe it looked something like this you heard about compounds so you had a coinbase account this is a long time ago you were huddling on some bitcoin underneath you heard about compound this is just an example by the way um and you decide to get some fifty dollars worth of comp and you pay about two dollars in a fees to coinbase then you do some research and you learn that you need to move that both comp any to a web3 wallet and then you do that maybe you download metamask extension on your browser and you supply it on compound and you pay some some gas fees back then who knows how much that was time passes you get busy with your life you do other things and then you start hearing like defy summer starts and you start hearing about defy again and you're like oh wait haven't i tried this before and voila you rediscover your comp but then you realize that it's stuck because the 50 dollars you had supplied now worth some other amount that i'm not going to speculate on because this was in the past would cost you more in eth to pay for gas fees to then like to remove that comp from that pool so you have your value stuck it's not lost but it's stuck so what do you do you forget about it and you definitely don't tell anyone about what has happened um so thinking about what are the barriers to accessibility and defining considering that example that is hypothetical um high-tech requirements people laptops like accessibility is a really big issue not just like when it comes to like value but also like tech requirements most people around the world don't have a laptop right like people use smartphones around the world um over or sometimes underwhelming amounts of information you had to do your research to discover compound and like know what to do like this other tool it's just like not very intuitive the high fees gas fees let's exchange fees i don't need to say more and then unintuitive user experience right like you didn't know that there were all these tools that you needed like two tokens comp and ether like you're just discovering this thing you're kind of stumbling up upon it can you imagine now telling someone to try this out like hey get into d5 i'm in crypto get into d5 maybe i would share this with my friends in california right maybe they would ask me because they know i work in crypto and so i should know how to do this but i wouldn't like guide someone in montevideo like my cousin through this experience i wouldn't be able to like guide my neighbor in ghana through like this what does this look like for them i have no idea they have to find a locally relevant on-ramp that they can move fiat into crypto they need to do the research they need to understand what d5 protocol and app fits their needs um then they need to do all the wallet research and all that information and they're all after all of that so i didn't give them any answers and i haven't even told them about the fees the gas the high gas fees i have to tell them like yeah this is very counter-intuitive but just trust me you and your value are going to be all right like no nobody wants to do that so how do we build gateways to defy right how do we bring everybody into d5 considering those barriers so i as i mentioned i work at valora valora is a mobile wallet a mobile app crypto mobile app built on cello it's native to a cello ecosystem and it tries to solve a lot of these different steps that i just mentioned but our intention is to really create an intuitive efficient and easy way to get into defy so it's not just us here at east denver trying it out but it's really anybody who could just try it out so why you should build with valora build on cello build with allura i record it well not me a co-worker of mine recorded this demo it's not a designer who made it so please um cut us some slack so my intention here before i start pressing play and i decided not to do this live because those things never work out so i'm pretty happy the wifi wasn't working so i don't even know if this will work out but fingers crossed what i'm going to show you here is how someone who is completely new to crypto so it's not someone who's huddling like bitcoin or ethereum on coinbase this is someone who's like zero to d5 in like the three minutes that this demo lasts right so that's kind of what you're going to see and i'm going to guide you through it here we go so with allura you can create a wallet in the mobile app so you download the laura you are guided into the wallet creation process you get all the information up front and in the moment that you are navigating it so you create your account um you enter your pin this is a test account so i feel comfortable sharing this pin with you you shouldn't share that with anybody else you enter your phone number and valora has the ability to map phone numbers to blockchain addresses and sello so people can send value to phone numbers but that's not what i'm talking about today so then you have your wallet and you decide to add some funds you're using here partner of allura ramp with ramp you can cash in crypto with your bank card with your debit card with your credit card you don't need to create an account on a centralized exchange then have a hold up period because ramp deposits your crypto assets that you bought in valora directly into your welder account so you can start getting to d5 within the next five seconds so here are the um the 20 so dollars i got on valora i decided to use the in-app swap feature to buy some cello so i'm buying sello with sell dollars um i can do that in-app so with your ramp you can cash in sell a dollar sell or sell euros then in valora you can exchange them i choose to buy them and then this is going to show up in my feed the purchase is processing and valor supports all tokens on sello so you have a token list so now i have two tokens to sell and that was in like two minutes the next thing is to let's go into defy and dabs in the dubs page you can discover and learn about different dabs that are all mobile friendly and all work with allura and have like very intuitive and connected experiences with velour so let's try uber swap inside the centralized exchange here in uberswap you can swap pool or farm i'm just gonna show here swapping you connect uber swap to valora and that happened by going between apps all most sell assets are listed on uberswap so you can just pick what what you want to swap for so here you're swapping for mcusd so that's on on the mula protocol on sello and you sign transactions with valora so every time you're signing a transaction on chain you are signing with allora so you don't need to do anything else you're just going to happen up back and forth so here uh you're swapping you're confirming every transaction in valora and that's it but it's not just cello assets that you can get with allura let's say you're a complete crypto newbie right so you're like i heard about ethereum let me get some of that with valora because valor is on solo you can get bridged assets or wrapped assets so in this example you're getting wrapped eve also with your fingertips on your mobile phone so here again you're signing with uh with valora and um the wrapped if you're now holding and owning eth for the first time as a crypto newbie and new person to d5 all those assets available in valora for you to continue your d5 explorations through adapt explorer like getting to know the cellular ecosystem and beyond so all of that from your mobile phone i hope that demo was okay [Music] thanks thanks thanks i'll share with you later i think you can watch the recording um but thank you for enthusiasm um so let's like let's build gateways to d5 together right valora is like the gateway to the solo ecosystem if you guys are building dabs if you're considering cello um like building with allura is just you know like a match made in heaven um so what are some of the key ingredients here easy on-ramps offers that so your dab can allow their users to just run through valor and then connect with all over to your dab low-tech requirements you can access people and potential users anywhere in the world not just at east denver low fees and fast transactions because the seller network is just amazing and great education so being able to hold people's hands through that first experience so they don't have to have the hypothetical experience with compound that i shared before um can really like lower the barriers to access people can have a great first experience with d5 and with low low low barriers to accessing that so you don't have to get started with a huge amount of money they can get started with 20 cell dollars or 20 dollars worth of of crypto or less they can do that in like five minutes on a mobile phone and so with that is how we're going to bring the fight to everyone so thank you