Making Wealth Accessible with a Mobile-First Capital Efficient Platform - Nineves S

uh so initially when when i got a chance to talk here i thought i'll just do a the qr code uh bumping around the screen and i thought everybody can just read through what i'm gonna talk what coinbase did basically but but here i am um so with the just a show of hands are you guys familiar with synthetic assets perfect so synthetic assets is nothing but it gives you exposure to various assets uh predominantly bait the tradify asset the stocks uh commodities indexes and whatnot right so that's in summary that's what synthetic assets is all about right but a quick intro about myself my name is nainibes i i've been in the crypto space for about since 2017 three or four years doing doing some fun stuff not so fun stuff and whatnot but really what got me interested in crypto spaces is because of the founder of crespo cresco whose name is deepak and he has been on and on on about it since 2013 right he's one of the ogs who's been doing a lot of creative stuff in this space but he comes with this a lot of strong values back then itself he was talking about hey this is this is it uh this vibes with me the whole decentralized space the whole anti-censorship space and and he's a long-term thinker i mean when i talk to him he thinks about how this space is going to evolve in five years ten years down the line right so that's the kind of the mental model that he has anyways fast forward to last year um when the whole robin hood incident where the game stopped stock happened that's what triggered deepak to to kind of come up with this idea about to create cresco right which is censorship resistant and that upholds individual choice so to say right so what are you on about what are our mission right um i like some funny memes as well but uh so we are in a mission to provide um some access to some of the best financial assets in the world where it's not accessible to the majority of the population right but in a most capital efficient way right so that's what that's what gets us going and that's what we are here to do right and and what is cresco right cresco is it's a brand new protocol it's not a fork of anything um in its ultimate form it's a d5 hub and a liquidity platform but the core of it is the synthetic asset protocol right where it allows to create uh crypto backed synthetic assets like stocks commodities and indexes right be it stocks that commonly we are aware of like tesla uh baba or apple or any of the commodities around gold or oil and whatnot right so that is that is what we are going to synthesize and allow users to mint in this in our protocol so what is our kind of tenets that are the framework that guides us to kind of enable right first is capital efficient right i think that's uh first and foremost for us because whatever whatever capital whatever investment capital that you want to bring in we want to make sure it's 100 percent utilized uh within the protocol and of course you can stake it and farm and generate rewards and whatnot right but in a most um simple intuitive way so that it's easy for example a user like me i don't want to spend a lot of time on a platform doing all of this but keep it spend spend less time probably spend more time on looking at memes or reading some some some of the good stuff but when we say ease of use it's a simple ui ux so that we can attract a lot of uh new new new uh people into this ecosystem the triad five people and of course the djs within the community as well uh so we will be enabling few creative features like zap feature uh down the line which where you can combine multiple actions into one instead of you performing manually several actions right so and and it'll be the whole ui ui and ux design will be very simple to use as well right uh the third is community first i think we are big on this um so is our founder deepak uh i mean he's traveled across the globe and and the good thing or the beauty of him believing community first is wherever he goes or travels he talks about crypto goes and gives talks within those crypto clubs and starts building those micro communities right and he has built several of them throughout the throughout the years so that's great and he kind of continuously takes in feedback on what to improve on what works for them and whatnot right all those insights have been built into our protocol right last but not the least is gamification aspect of it um so definitely we want to incentivize some of the early adopters the hodlers and active traders right by giving them nfts right and by giving them nfts within the cresco protocol itself uh by which they can improve their apr boost right so that's the gamification part of it um so i as you can see this is the uh cresco core team fully doxxed as well except one guy that's me but but this team has been building cool stuff way back from 2013 2014 right i mean they have been in [Music] some of these developers like uh denali who has been big on the cosmos ecosystem panu who has been building cool stuff in the ethereum ethereum ecosystem for several years so there is a lot of experience that is coming into the cresco team and they've been building this for about a year and of course we are we are being advised by some of the best minds within the industry as well like albert pranay and modit around this place so we have i think we are pretty much equipped with a solid team to make it happen uh and a little bit more about uh more about the founder uh so deepak he's a rare combination right he's a web3 native who's been doing this for uh since 2013 uh he's a great community builder and a cyber cyber security expert right i think those are the trades uh that is kind of essentially needed to make a uh to build a successful defy uh platform right that we are on to um so yeah so what are the opportunities that we are seeing right within the synthetic space because within the d5 ecosystem uh the synthetic space has not evolved much there are a few protocols out there but not a lot right but and within those protocols [Music] we know that not not many of them are capital efficient or not i think a couple of them that we have they're not capital efficient at all uh they lack the whole ui ux experience uh they're not easy to use and i think in some of them you need some technical expertise as well uh to actually do some synthetic asset trading as such right so those are i think some of the opportunities that we see within this space that we can come and improve massively upon right so i'm going to call out two protocols i mean not to dis on them but they're great protocols for their use cases as such but what we see in synthetics right so you have to you need a 500 collateral ratio that means you if you if you come with say a thousand dollars you can only use 200 or 300 dollars within to mint some synthetic assets and first of all you have to kind of convert them to snx and then do it right so it's all backed by snx uh within the synthetic protocol same thing with mirror i think mirror has like a 200 collateral ratio and and the thing with mirror i don't even think they enable metamask but but anyways and they have multiple collateral per position that means you come in and you provide a collateral to each of those assets or each of those synthetic assets right so we definitely see a lot of opportunities that we can improve on and we try to bring that in in the cresco protocol um so this is a complex slide uh there's a lot going on over there but if you look at the i'll try to keep it simple because if i go on about this will take another 20 minutes i guess but on the far left if you see there is there are collateral assets right when i say collateral assets those are the assets that you can that you already have in your wallet that you can bring into the cresco protocol say usdc or aurora or eth oh so before i before i go and go into this one right uh like i said uh cresco protocol it's a brand new protocol it's not a fork right and um and we all and it's a multi-chain protocol uh we will be launching first in aurora uh within the aurora ecosystem that's why you would have seen the aurora token being mentioned over there uh but so those are the collateral assets like usdc aurora eat that you can uh you can bring in and provide collateral and each of these assets have a certain collateral factor right which will then tell you how much say for example if you bring in a bunch of usdc bunch of a bunch of eat each of those individual assets are provided a certain collateral factor based on that then you'll know how much of the money that you have within the protocol that you can start minting different kr assets or different synthetic assets right uh be it a synthetic form of tesla which is kr tesla or synthetic form of apple which is kr apple and whatnot right and of course we we partner up with certain liquidity uh pools as well within our ecosystem to provide uh the liquidity pool for these assets and definitely there will be farming pools as well where you can stake it in and earn some rewards right so so i think i try to summarize it at best as possible there's a lot of things happening uh within this diagram as well but what excites me right i like to keep things uh simple so to say i'm not a heavy technical person as well but one of the things one of the use case that excites me is is this one where you can create a single collateral basket so to say like i said you can bring in the usdc aurora eat uh tokens and and all pull it into one single collateral basket and one single collateral basket per account right through which you can then create these synthetic assets right tesla baba the gold or or the e or the qqq some of those synthetic acids you can mint and the beauty of it is once you have mint minted and it's all controlled through that single basket right say for example if one of your uh minted synthetic assets goes down and you want to provide and it's close to liquidation you want to provide more collateral you can you can provide the collateral using any of these three into that single basket right usually what happens is if if one or multiple of these goes into liquidation position or flag for liquidation you'll have to do this transaction individually but in this case you can provide that collateral into one single basket so it's it's very easy to kind of uh operate and back in and back out positions as needed right so this is the one that kind of truly excites me uh one of the pro one of the use cases but definitely there are there are a lot more cool features um and creative features towards making this protocol a capital efficient right that is being developed by the team uh some of the things that i'm i wish i could disclose a lot more uh but not yet since since we are not launched yet right uh uh so about the launch or like i said uh yeah so we we started building the protocol back in march uh last year uh and and it all started with the whole incident about uh the robinhood censorship on the gamestop stock right and and i think progressively we started incrementally launching and testing out some of our features uh in the test net right and uh this q1 probably in about six weeks four to six weeks we're targeting to do a launch of phase one which is minting those synthetic assets and some of the gamification has aspects i talked about and in q2 we are going to uh uh definitely bring in the whole liquidity platform and additional game mechanics into the system right but so we are we are definitely super excited about this about the launch and the team is all hyped up about it um so thank you guys thank you for your time