Alex Bashlykov ~ Unifying Decentralized Finance Zerion

[Music] and all right hey everyone my name is Alex and I'm from Syrian and at Zira and we are trying to build to trust trustless bank on top of decentralized finance protocols be aim at transforming the decentralized finance experience and hopefully we'll manage to drive the next wave of adoption of blockchain based economy so instead of relying on a third party to manage their assets our users keep full control over their funds and can execute common banking services using our interface and we are doing this because we believe that the future of financial services is decentralized and there are several reasons for that so first of all we see it as a natural evolution because we can imagine that Bitcoin came up in 2009 and we can see it as a cache and then a theorem popped around in 2015 and there are contracts and now a lot of financial primitives appears on top of a theorem within the last few years and now we are ready to be able to decentralize financial system on top of that and it's definitely going to be better than existing financial services because it's cheaper it's more transparent and it's trustless and there is already a lot of failure so even though we are quite far away from mass adoption we can see chart that show number of trades on decentralized exchanges and it's growing at the second chart is amount of depth each through maker Dow and it's kind of nice to see each other do not correlate with scripta prices because they are growing regardless whether the price of a theorem goes up or down and it's a little bit outdated I think this numbers even bigger right now but it was relevant a month ago or so and 2019 was definitely here of protocols and so many financial protocols appears on top of a theorem and I will divide them into three categories so from financial perspective there are three different types of things that we would like to do in our bank interface we need some protocols to do exchange so we can change our assets the second one is boring and blending so everyone is aware about credits are and this last bit is derivatives so we can create some sort of ETF some market we can buy some options we can buy short or long positions and there is so many protocols built already and I'm super excited about that because pretty much any problem can be solved using one of those so this is the first step for the future of decentralized finance and it's developing right now but it's more or less done but unfortunately they ant users they don't want to use protocols directly most of the users they don't even want to know what protocol they using they just want to interact with interfaces and they want to find a solution for their problem so the next obvious step will be to build interfaces but the problem with building direct interfaces to protocols wouldn't really solve the user problems because if it just creates an interface that connects to every protocol or to multiple protocols at the same time it will be complicated for users to understand because usually users do not struggle what they want to use Dharma or compound to put my deposit most of the users only care about money or like how they can find the best rate or how they can find the best interest rate and they don't really want to know what exact protocol they are going to use after all or when they want to trade their assets they also care like to get the best price available at the moment and so it feels like we need some intermediary level in between protocols and interfaces and if I won't call them product and that's what I feel like if the most required think right now so there are a lot of protocols and a basement but now we need to build a house on top of that so we need to combine all those protocols together and make them able to solve the problem that people actually have and there are already a lot of products starting to appear most of them are a really early stage so the guys from busy they just gave a presentation they built that sort of product that there is also CTP portal for instance another nice example of a product that can combine different protocols because primarily is based on top of major Dao interface but at the same time it also integrates some exchanges so within the same product you can interact with multiple products and actually solve the problem that you users may have and I'm going to share just my vision what I mean by product so here's a nice example and it's not my idea but I actually heard it from guys from marble it's yet another protocol out there and there it is pretty simple so let's imagine that we have a liquidity pool and you know we have a lot of protocols for decentralized exchange but and some people may see some arbitrage opportunities there but in order to execute those arbitrage opportunities you usually need some liquidity so for example you might notice that there is a cheaper price on the theorem using Zarek's protocol and you can sell straightaway the same a theorem on yoona swap for a higher price but the problem is usually when you see that opportunity you don't really have a theorem so why we can how we can solve that problem we can create a liquidity pool which will be a smart contract and anyone interesting I will call them Landers can deposit some money into that liquidity pool and their money will just start there until someone finds a arbitrage opportunity and once that opportunity is found a user can supply those two overlapping orders for buying and selling some sort of acid and the contract the liquidity pool would use the liquidity provided by lenders to execute the opportunity make money straightaway and then share the profit between the user and the ones who provided the liquidity and I see that as a really nice example of product that can be built on top of compounding effects of different protocols and I think with the time when we really need more products right now and apart from products we also need some services on top of products and another nice example of a service that could be built on top of products is a CDP insurance and how we call do it in a trustus way all right we can create a smart contract and we could ask our users to give an allowance to that contract to you a thera-band required and then we can just use some back-end system that will monitor the collateral ratio that a user found suitable for his CDP and then he will not need to struggle anymore because at the moment when the correlator ratio drops behind a certain level the system will be able to is acute a transaction that will go to that mark on her that is allowed to spend users a theorem and deposit it to a CDP so it's completely trustless in a sense that user still does not need to trust his assets to anyone but at the same time it solves really big problem right now because I don't know how many of you used CDP's but I feel like a lot of people when they open a CDP they start here a lot whether they're CDP is going to be liquidated so they check the collateral ratio all the time and services like that they can be implemented and they can solve problems like that and what is more important it still can be solved in a trustless way so built-in services and products like that we still do not get access over people money and that's what I find the most exciting about decentralized finance and what I want to say today is just first of all I really encourage everyone to build more products using protocols because there is so many opportunities to build on top of them and we also have a bounty for the best idea you can come up with something that can be built on top of that and could create a simple interface we will be happy to give away $1000 for that bounty and you can check more information about that bounty of on calorie and again just briefly show the requirements so all we want to see is just a product that kind of I just described that helps users to solve their problems and at the same time does it in a trust less way so it doesn't get any excess over the funds so that we make sure that users always owns the money on their addresses and we want those product to be open source we want them to be uploaded to github and also deploy to one of the etherium networks it's called the item magnetic test net and of course the child integrate it shall be built on top of at least 25 protocols and I will be happy to make it more interactive since now so thank you for my talking now I will be happy to answer any questions if you have any there is a mic over there so just feel free to stop by and ask anything I just notice you're missing one bzx on that so yeah because what I said I feel you guys are more than just a protocol because he had beaten a product because you're aggregating liquidity so I mentioned here guys and I feel I think you're doing the right thing does anyone else has any questions alright I think that is it then thank you and let's build the future of decentralized fairness together