Signal Trading: A Transparent Approach to Crypto Trading
In this episode, Jason Fernandes, Co-Founder of AdLunam Inc. dives deep with Yura Mizin, founder of Cryfi, a transparent marketplace enabling traders to monetize their expertise and new traders to learn from blockchain-verified pros. Learn about the power of verified signals, the importance of transparency, and how Cryfi is innovating the crypto trading landscape by empowering both traders and learners.
Join us as we explore the impact of trust and transparency on the crypto market, and discover how Cryfi is making trading safer and more accessible.
Catch DIVIC live every Thursday on the AdLunam Twitter page (https://x.com/AdLunamInc).
Transcript
Signal Trading: A Transparent Approach to Crypto Trading
SPEAKERS:
Jason Fernandes, AdLunam Inc Co-founder
Yura Mizin, Founder of Cryfi
Jason:
Uh, hi everybody. We're just gonna wait for the room to fill out for a minute and we'll jump right In.
Yura:
Hey, all, how are you doing?
Jason: , on how to launch a token in:
Yura:
Likewise. Likewise Fernandes, that was a great time at Wiki Expo, though we had some issues with organizing, but in the end, it was a great time. So yeah, you did a great intro for me. Thank you. And yeah, just say a couple of words about the Cryfi. We are basically a signal trading platform where anyone can become a signal provider by using our app on telegram to share signals or to by using our API to send them in the automatic way. And the beauty of everything is that our goal is to verify all of those signals on chain in order to create the mutable and transparent track record of each and every one signal provider to basically remove all the bad actors and scammers who are filling the web three world and trading world, especially on every bull market we're live, so you can find us by searching clarify bots on Telegram, and we are pretty active on chat, so if you have any questions, concerns, or you have provide your feedback or opinion, feel free to message in our chat.
Jason:
That's awesome. Why don't you tell us a bit about, you know, your personal background, before we could definitely jump into Cryfi. But tell me a little bit more about your personal background and kind of how you go into crypto. You know, what was your journey here?
Yura: % P&L, or:
Jason:
Yeah. I mean, that's one of the biggest problems with copy trading platforms. There's really no way to verify figure out who it is that you want to follow and then there's the second part is, of course, once you figure out when you want to, you know, buy it, when you want to sell, you actually have to go off and do it. So it's something like a full time job, almost. But I'm just curious, kind of like you said that you were investing, you know, a lot yourself with IDOs and ICOs. How is there any area where you know signals and IDOs intersect, or are they two completely different ones? Because obviously, you know an IDO launches, we sort of pre the token launching on an exchange, right? It's like the step right before that. So I'm curious if there's if, if signals have any, any role to play there actually they are.
Yura: xpectedly, thanks to the Token:
Jason:
And are there any risks, like for projects? Because, I mean, it seems to me like essentially, what that's doing is that's taking a private allocation and opening it up to the public, maybe not the public at large, but a public within a small group. And so what that does is it sort of helps. It helps, sort of sets the price before it ever hits the token, and it may anchor that price significantly lower than that token if it would just launch, you know, on an ideal with very limited supply. Do you see that as a possible, you know, concern?
Yura:
Well, I think it depends project by project. Case. At this moment we have, for example, a buy, but pre market where the idea is basically the same, right? People can buy and sell token before it is getting listed with the price that they are coming up themselves, right? So I think it just depends on the preferences of the project. Got it from other side.
Jason:
And obviously I was just gonna say it's a small amount of allocation available anyway, so it's not representative of the larger price, right? I mean, these are like, well, even if a KOL came in and he, let's say, came in at 20, 25,000 most KOL rounds are like, you know, maybe 150,000 - 100,000 so that's among, let's say 5 - 10K, well, so he comes in and he's got 100 I mean, if he's lucky, he might have 10, 20,000 you know, yeah, that's really, that's correct, and probably won't really affect and I just think that All K wells will be using this kind of platforms, right in terms of one project.
Yura:
Let it be in the worst or maybe best case scenario, 50% right. Will want to sell the allocation. But I think most of the carols will be more eager to see what will be the actual price.
Jason:
Yeah. I mean, not just KOLs, but even, you know, people like advisors, people like, for example, early investors, also, you know, presumably, like, there's that whole thing, second market, right for equity, it's like, almost a similar model.
Yura:
yeah, yeah, exactly. And this goes even further with other platforms. So I met along the way who are also allowing people to sell not only those allocations, but points of different projects, right? Would it be the Galaxy points? Would it be test net points, or whatever mechanics the projects? Have in place, why not allow people to trade, right? And if you can trade it, then you can give so that's also why we're interested in any platforms of this kind, because we can be a really good addition to the whole user.
Jason:
Yeah, because sometimes you might have, because sometimes you might have something like airline points or points, you know, that are not quite something that can be put on an exchange, but they still want to be, you know, people still want to trade them on a on a secondary market, and then, you know, maybe have signals on them so that sort of a really good, good idea saying, Hey, cool, we'll take anything that can, that can be traded, basically. So I'm curious. You know, one of the things that we never really see when it comes to these copy trading platforms is the automated trading. Like, was that an innovation you guys came up with, with yourselves? Like, why do you think that? You know, nobody really else has done that?
Yura:
Yeah, so copy trading isn't new, and there is plenty of platforms that allow it to do that is why we are focusing on signal trading more. The difference here is that with the signal trading you is the final decision maker, right? So you decide, do you want to trade this signal or not? You decide, what is your actual orders, entry, state, profit, stop losses, and what is the position size, whereas with a capital agent,
Jason:
yeah, what? Go ahead,
Yura:
yeah, with a copywriting you put your risk, and then you just wait. Until the lead trader or automated strategy will make all the oldest trades for you, and then you will take out the profits, or will just cry with your losses.
Jason:
Yeah. So signals training allows you to kind of like dial that in a bit. My question was sort of around the actual trades themselves. So plugging into an API and actually executing those trades like you never see that really in in these platforms, unless they're actually like a centralized exchange just offering that as a service. So I'm curious why you know, why you think that is and is that an area where you all have innovated?
Yura:
Yeah, so we will have the copy trading in the future, for sure, it does that we don't want, at this stage, to compete with other capitation platforms, because, again, copy trading isn't new, and for us, it doesn't make sense to allow capital gain before we have some history of our current signal providers, and until we have the proof of signal our blockchain verification technology in place. So for now, we have signal trading, which allows you to automate the way you trade signals, but still have the full control over it. And the other benefit that copywriting doesn't have is that with signals, you actually see, what are the ideas behind each of the trades? What are the thought process of tether, if he, if he decides to share some which will be, I think, even more relevant and more valuable for the points trading or allocation trading, right? When you don't even have a market data, sure, you just have sentiments, some ideas, some hoping, right? And that's basically all the basis for the trading at this stage, yeah.
Jason:
But I remember, I think I heard you say that essentially the trades, you can set it up to where, you know, let's say you connect your Binance account to it, and then the trades will get executed, you know, sort of based off of an algorithm, if you if you wanted to, is that, is that, did I understand that correctly?
Yura:
Yes. So we will have this option in the future, but for now, and yeah, you're describing the typical copy trading platform process, basically, go ahead,
Jason:
That's, I mean, I think that telegram so, you know, the telegram app phenomena is like really, really, blowing up. So I'm curious, what do you think about that, and what are the sort of exciting areas that you think that could evolve into. So telegram app space,
Yura:
Yeah, for sure. Telegram is, I think, one of the main topics for the last year, or maybe even last two years, because exactly the solidarity Mini Apps and big integration with stone. And the beauty here is, I think that Don is for now, the only blockchain that has the real potential of onboarding 1 billion users on chain, because, for example, my mom, my grandfather and grandmother, they all on Telegram, right, which means right, my grandfather to start using Blockchain right. It's much easier than using Solana right, or Polkadot or optimism or any other chain that is just connect your wallet and you have some unclear protocols. I mean, like, not that clear, but they are too kind of you have a really high point of entry, right? Compared with Telegram, they have names, uh, they also, I know that they are focusing on more consumer facing apps, right? Really simple apps that will allow grandmothers and grandfathers all over the world to actually tap in in crypto, for payment, for example, right for transitioning money. So that's something that you can't, can't beat with telegram. As of now, I don't think any other chain has this kind of unbeatable advantage in form of a telegram. So yeah. And overall, I'm really bullish on tone and Telegram, and especially for our case, as we are talking about the traders, we are talking about KOLs, as they all live on Telecom, right? So this proximity to our target, target users is really handy, and this is, this is why I think building inside our telegram is the best choice for us, and it's actually a really good choice for a lot of projects in web3, because this, this is what allows you to be as close to your audience as it could be, compared to just applications, websites or platforms.
Jason:
Yeah, it's almost like building like telegram is almost building a super App as from the perspective of not integrating directly, you know, various different functionality, but allowing people to buy build bots around functionality. So telegram was obviously never intended to be used to trade tokens or to even, you know, announce them, but there are, you know, people doing that now, so it's sort of an interesting strategy to expand your app, not by putting out new features, but allowing people to build apps sort of directly on top of it. You know,
Yura:
totally, totally.
Jason:
So I'm curious, what do you think is the some of the challenges when that could possibly come out of signal trading as popularity grows in ensuring you know, how do you see ensuring the accuracy and reliability of trading signals?
Yura:
Yes. So just for the records, we don't share our own signals. We're not the signal providers. We are the marketplace for other signal providers, right? So our goal is, is to provide, to provide people a platform where they can choose signal providers based on their performance. For now, in the future, we also want to add other verification metrics, like, how long have you been trading on Binance, for example, for example, do you have your YouTube channel? Or maybe you went to ml, ama like this with us, right? Maybe you went to the Google meet with us and show your face and talk about the trade. So the all of this is basically your verification steps that you can add, add on to your graph, clarify profile. Where you can share signals for free. You can share them, not for free. You can sell your courses, maybe, or any, anything else related to the challenge, I know from our own research is that if you want to match the win rate that signal provider has, you need to trade all of his or her signals right. That's the only way to actually be like precisely on this, let's say, 70% win rate. And sometimes people, people choose the signal provider right, based on the screenshots, based on the excellent spreadsheets with the results which could be true, which could be fake. Nobody knows, until graph I appeared, right, but yeah, even when those signal providers are legit and they share in legit or legit results or with high win rates, and then people are joining and then trading five signals out of 20, and they happen to trade the signals that are hitting stop loss. Then, of course they are mad. Then of course they are not happy with the results. So my answer to that would be that, yeah, you need to choose your own risk appetite and be knowledgeable of your own trading skill. Because, for example, for me, I always was trading different signal providers, and I was trading particular signals, but I almost never traded the original one, right? I was using the original signal as the backbone of my own strategy, of my own trade. So I never, I never felt that like signal providers scammed me or shared unworkable signal, right? Because in the end, it was me who made the final decision, made some changes, and then either followed the signal or followed the modified, modified signal. So yeah, the risk appetite here is the key and understanding your own capabilities. If you want to just you're just starting, it's better to trade all of the signal of your choosing, one or multiple signal providers. If you think that you are capable enough to make your own decision, decision in terms of trading, then, yeah, feel free to trade particular signals and manage your own risk this way.
Jason:
So how do you determine which tokens to do signals for you know, to provide that sort of data? And I mean, I'm sure just being on there will provide a lot of exposure to various different tokens, correct that maybe they don't have otherwise.
Yura:
Yeah, exactly. So which for which tokens to share signals? It's a decision of each of the signal provider. And from our side, we see different examples. Some are trading mostly Bitcoin and Ethereum. Some are trading some random tokens. It's like their favorite token that I seen the first time ever, but it takes 50% of all of the signals, so they probably like it, right? It works for them. So yeah, there is, there is no correct answer. I think it just depends on each of the signal providers own strategy and own liking. And this is why I think the graph is pretty handy, because it allows you to see the, at least, like a beginning of thought process of each of the signal providers, because we show what, what tokens those signal providers are sharing signals for, right? So you can make a decision. Okay, do you want to trade these random tokens or not? Do you want the safer option with, like, less life, less profits, but maybe higher win rate? Or you're here to gamble a bit, and you're okay with 30% risk, but 600% profit, that's actual, actual use cases from Cryfi right now. So yeah, that's, I think, the beauty of open market, where anyone can show what they what they can offer, right? And, most importantly, monetize on that.
Jason:
So I guess they can sort of make a decision in real time about sort of having a hybrid strategy where, let's say they follow X and Y signals on Bitcoin Ethereum, but a completely different guy on, you know, let's say more exotic meme coins, for example. And then they can say it could be very certain amount of their funds towards meme coins and, let's say, a particular trader, and then allocated another set of their funds to another trader. I mean, I'm not talking about copy trading, although that could be certainly a good evolution of that, just purely from copying of signal.
Yura:
Yeah, yeah, exactly. There's the whole concept, right? And this is the route where we want to go by, not only supporting retail traders, right? I mean humans, but also supporting other companies, supporting trading boards, algo traders, and basically any other trading automation strategy across all the markets, right? So it's traditional finance. It could be support, right? The idea is still the same. And it could be allocations, it could be points and whatsoever. So you as the user, you can choose what strategy works for you best based on the historical records of the performance and based on the description and all the all of the proofs that you have on this particular signal provider, which could be website, open calls, or maybe reviews, if it's if it's a platform, and then based on your end goal, right? You're here to make money. You're here to learn something new. You're here to become a real pro trader. Then you make a decision who you want to follow.
Jason:
Yeah, so you mentioned earlier CEXs,DEXs, and I'm curious, how do you see automation and integration with centralized exchanges and decentralized exchanges sort of playing out and shaping the future of trading signals. I mean, do you think that people would end up using, let's say, automated bots to, you know, further fine tune the way they trade? Or do you think there's a place for both? Or how do you think they interact with each other.
Yura:
Yeah. So from our side, we want to migrate traders from Texas to Texas. And the reason, I think, is obvious, is FTX, right and other exchanges that are sadly are closing time by time. And from other hand, we have DEXs, who are long away past this Uniswap one inch stage, when it's just a swap kind of a story, right? And now more indexes have the look of that centralized exchange. So from the first glance, you can't actually say, is it a sex or is it a DEX, because the interface looks the same, right? It has most of the features, but with the full custody. Which is, which is great, right? This is, this is what all web three is all about. And I think Texas now is one of the, one of the best use cases of the web three, right? Where you don't sacrifice the usability, the user experience. But you, you provide the full benefit of the web. And, yeah, again, I depends on the user, right? If you, if you feel more safe when the exchange holds your money, and you have billions and billions of liquidity, then you probably will stay with DEX, with, sorry, with simple as exchange, yeah, yeah. But if you want to have the full custody and you want to trade, trade some meme coins or some low caps, then DEX is the way. And then the manual trading or copy trading is also up to you, depending on, on your skills and depending or maybe your time commitment, because, no one is blocking you from using everything right? You can trade on CEX, you can trade on DEX. You can have copy trading, bottom decks, copy trading, bottom CEX. And that's all diversification, which is also good. So, yeah, I think in the end, it just, it just the preferences, right preferences, from signal provider preferences or deal they own, both for a specific strategy or give signals for specific tokens or markets and for the end user to choose what they want to trade where and how?
Jason:
Yeah, you know, you says, speaking of sort of user choice, what are some of the key factors that traders should consider when you use, when choosing a signal provider, when it comes to sort of today's crypto market,
Yura:
sure. So first of all, it's, of course, the performance. I know it's a bit tricky if the signal provider isn't on Cryfi, right? Because you just, you just have either x spreadsheets, is a PDFs or some screenshots on graphite. We take care of the verification. So each signal that goes through us, we calculate the performance. So this is your first step, right? Because you see the performance, you see the date when the signal provider joined, and you see amount of signals that he or she shared for this period of time. So that gives you an idea of how it will be inside. And from our side, we also not, not we, but most of the signal providers on graphite are offering the free trial, which is the perfect solution to verify the signal provider, right? You can join, you can check the previous signals. You can get some new signals and act, act on them, and maybe even make profit to buy the first month from that profit. If we are talking about the signal providers that are not on the profile, then, sadly, I think you don't have much choices.
Jason:
You can try to get. There's no way to verify, basically,
Yura:
yeah, without you actually trying them, or without you or finding the community members and asking, I don't know, right in the DMs, hey, you following this guy? Is he doing a good job or not, right?
Jason:
yeah, you know. I mean, it's surprising to me that, you know, you have so many people that are, you know, pumping up coins on Twitter, for example, and you never know, really, what, what tokens they hold, or whether they hold, you know, let's say, a massive amount of a certain kind of token, and that that can be useful information if you're deciding whether you want to invest in something, you know, like you may, maybe you need to know that information, but nobody really does. And so there's a lot of there's a lot to be said for sort of having that transparency. But I'm curious, you know, what would you say the balance is between transparency and privacy when it comes to trading, when you want to ensure fair play while protecting user data.
Yura:
Sorry, lost you. Jason, could you please repeat the question?
Jason:
Sure. So I said, you know, transparency is really important, but how do you balance transparency and privacy in the world of trading to ensure fair play, while protecting also protecting user data. So this, like, based off of the signal providers, how much you know information is too much information, for example, like, how do you how do you make that balance?
Yura:
Yes. So again, that's the preference of each of the signal providers, right? So for now, or the only sensitive, it's not even the sensitive data, but I would say personal data that we store is your telegram username, right? Which means that you can be fully annum, right? Or you can put your avatar, yeah, like your real photo, your real name, your links to your Instagram or whatsoever, right? And the same goes to your signal channel. It could be fully Anon, or you can do the same. You can put your avatar description links and yada. So yeah, I think it is the preference of each particular signal providers, right? Because they can, they can promote their own brands. They can create their own brand and use graphite to leverage that. Or they can maybe roll out some trading board that they want to, want to test. And it will be, yeah, it will be immediately displayed on the marketplace. It may do a good job. It may do a bad job. If it, if it makes a bad job, okay, just remove it. Create a new but add it to clarify and start sending signals again. So we are we? Are we acting like marketplace or even like a playground for you to test your strategies, right? And in the end, it's a decision of the user. Do you want to follow this guy or that guy? Right? Do. Guy who has the avatar he he's mentoring, he is sharing his knowledge on YouTube, or maybe this random, I don't know, deep coin, who joined three days ago, but he made 10,000 P&L, right? For the last two days or 24 hours. It's up to you, right?
Jason:
Yes, I mean, you decide your own sort of risk appetite, I suppose. But you know, when it comes to regulatory scrutiny, I mean, you know that we like we see that regulation jumping in pretty much everywhere. How important is, is that for the for transparency in single trading platforms? Do you think that the regulator, regulatory scrutiny might push for that sort of transparency that you guys are sort of focused on. Or do you think that it will sort of work out the other way around?
Yura:
Yeah. So what, what people are, I think, are having the wrong impression of signals is that they can be financial advices, right? And financial advice means that you're giving professional advices that are related to your personal finance based on the clients. This term we are talking about the provider and the client relationships you're providing those recommendations based on the client's personal needs and funds, and provide you provide them, provide this financial advice and personal personally to him or her, which signals and signal providers are definitely not since signal providers are just the guys or trading bots, right? This is, this is the way we were registering them, right? You're just people that sharing ideas that are not personalized, that are meant for the broad broadcasting to anyone who wants to listen. So which makes by default, though, the signals not financial advices, but rather than strategies, ideas, thoughts, call them as you wish, yet we want to get them the appropriate registrations in each of the global restrictions across The Globe, so we won't have any questions from the regulators in the future, but for us to get to this stage, we have a long, long way to go. Because unless you're making at least a few millions per month, no one really cares what you're doing, which is pretty handy for us at this early stage.
Jason:
Yeah, no. I mean, I almost see a word where it could actually, it would actually help you, right? Because even if it's not financial advice, perhaps at some point regulation might come in and say, Hey, if you're giving even signals, you need to be like, let's say, transparent about that kind of information. So, for example, you can't just put up an Excel sheet that you could have edited, because that, of course, whether it's a financial signal or not, is could be considered fraud. It could be considered, you know, unfairly trying to influence somebody, whereas, in you, in your platform, you actually can verify, for example, that that those are sort of signals, that that, that the person is backing or is using it themselves, so it might even actually work in your favor.
Yura:
Yeah, yeah, exactly, exactly. And if anyone will want to verify the performance of the signal providers, or maybe create some special legal status for people who are making predictions. Clarify will be here to help, right, because we will have all the technology and all the experience already baked in. So potentially, clarify can be even accredited by some governments, ideally. But what we are also exploring is using clarify to help companies hire traders, right? Since, with us, you don't actually need to give that trading assessment to Trader if you want to hire one, right? Because we are basically doing that for them by just using graphite, by just sharing signals, you're are storing your history, which is with you for life. So then, when you want to get a job binance Or Blackrock capital as a as a trader, you can just attach your private page to your resume, right, and that will be approved that yeah, you're actually good with trading, because your signal is sharing signals with square for two years, right? And your win rate is 85% for example.
Jason:
So the name Cryfi, is that basically crypto, Crypto Fi, or is it an indication of what happens to people when they don't trade your platform?
Yura:
Yeah, so you're right, the original, you never know, right?
Jason:
Yeah.
Yura:
Yeah, the original idea was crypto plus finance. You may cry, but to be honest, I just like the name, right? Because it's simple, it's a bit provocative, provocative cry. What app that calls cry will be, will it make me cry? But actually, we made scammers cry, right? We are Cryfi, yeah, so yeah, that's also kind of part of the story.
Jason:
It almost sounds like, I mean, if you say it really fast, it almost sounds like a, like a cryogenics, like lab, or something like that. You never know, like somebody could, somebody could take time. But anyways, what innovations? What innovations do you sort of foresee in the future that could sort of further revolutionize the crypto trading space? Like, whether that's, you know, in the signals area, or maybe even more generally, is among Texas in DEXs. Like, what do you see sort of on the horizon? Yeah,
Yura:
I think DEXs will dominate. Like, even now we are making partnerships with a few meme coin indexes. And the cool part I'm talking about platform. Comet really great guy, the founder, Kush and the platform is also really great because they allow you to trade meme coins of multiple chains from one interface, which sounds great, right? That's exactly what we need in order to put us closer to meme coin signal trading. And I think this, this ease of trading meme coins, or any other tokens of any chain from one interface, right? The same as share signals and execute those signals will make a huge difference and huge impact. Because the problem that we see currently is when the new user, a new person, is joining the exchange, right, they are facing this terrible, terrible interface of the exchange with the order book, with the numbers line, with a chart with stop limits, take profit orders, and they just don't know what to do, right? They know that they can buy, probably maybe from simplified version or from the decks like uni spa. They can buy, they can sell, but to trade, it just seems like something you need to spend months to understand and cry. Fi wants to simplify this process by allowing people to actually use the signals and see the arguments behind those signals. So I think that would be also the big change which graph I will lead, maybe with other platforms we'll see maybe our competitors or our friends, we are not afraid of boss, because I think signals are actually really helpful for the new users, right, which can help them understand what trading is all about. Trade themselves, right? But with the help in terms of a signals, but they still feel like this. Trade goals from their hands, right? They not just copy trade them, right or buying. They actually making the informed decision, informed trade which potentially can lead them, lead them to become the semi professional traders, right hobby? Have trading like a hobby, but still, they have this basic knowledge to do. So. So yeah, to summarize, I think it's Lexus, the signals as the weight on board mass audience. And I think min tokens also a bit thin, especially now when anyone, almost anyone, can become, create their own, they all token right, and engage others to trade it. I think that's really powerful mechanics that will drive the next, the next big thing in trading future innovations.
Jason:
Actually, I think I walked by and I think I spoke with the company that was like a meme coin exchange aggregator, I won't say aggregator for exchanges, specifically with meme coins. Did you end up bargaining with them? And I'm just curious, like, what do you think about the whole meme coin phenomena?
Yura:
Yes. So we partnered with, with comment, also discussing a few, a few other meme coin indexes. And yet, to be honest, I hated meme coins at first, because for me, they didn't make much sense. But now I see meme coins as the really powerful tool for also onboarding mass audience to crypto, because it just fun, right? There is no technical terms. There are no big ideas behind it, just some simple ideas and meme or cartoon or whatever, right? And just people. With, with demand to buy or sell and yeah, meme coins can make anyone a millionaire in one day, the same as the as the homeless in one day, one day too. But still, this, this kind of opportunity, kinds really bright in hearts of many, many people. And I think that's also a big part in the civilization, which is, again, right? That's what the whole of web three is all about. And I think a lot of projects and people are, sometimes are forgetting about it. And DEXs and lean tokens, for example, is the great, great use cases, right of this digitalization, and they provide this digitalization in a true and full way, in my opinion.
Jason:
Yeah. So do you think that retail is looking at meme points as like an onboarding or a stepping stone towards, let's say, you know, more utility based tokens that are, that are going to launch soon. I mean, do you think that it has something to do with the fact that a lot of these tokens, you know, really good tokens that are, let's say, built on utility there, have delayed their launch, right? Because the market's been, been poor, so really, in that, in that sort of vacuum, meme coins seem to have sprung up, but that's a lot of it has to do with the fact that there's limited choice, right? Like, if you can't invest in really good projects, just let's invest in completely, you know, useless meme points and see how that goes. Do you think that that's, you know, a stepping stone to people getting into IBOs, or do you think it's a replacement? Or do you think that they're, you know, maybe two completely different markets. How, what do you think the relationship is between these people?
Yura:
Yeah, I think it's a bit different markets, right? Meme tokens. I think they, they pretty much live by their own. But for people, I think initially it's mostly it's either fun or a money thing, right, where they can just make fun, maybe break with their friend that hey, they bought this, I don't know, Baba Yaga coin, and they may made, I don't know 100, 200 bucks in few hours, or maybe they become a million, right? Or maybe they lost at all. But for this one token, which is just a story, a good story to tell to your friends, but what these women tokens are actually doing is that they're hooking up people in crypto, right? And ideally, what? What person which didn't wasn't in web3, but then discovered pin token participated. What this person ideally will do is that they will dig deeper. What is this web three, right? Okay, this pin token maybe didn't work out. What is next? Right? What about Bitcoin? What about Ethereum? What about this? Some new project that I heard or read in some crypto news, right? So they start understanding it more. They will start delivering the idea to their friends family, and this is how we will meet this mass adoption, right? This is what telegram is doing with stone. This is what min tokens are doing unintentionally. And this is surely what not coin and hamster token are doing. And I think they did also the great job of onboarding this retail people to crypto in some way. But yeah, I think doing the gym tokens and then then pulling, pulling all your energy in IDO seems like a logical thing to me, because most of the meme token people, I, in my opinion, don't get me wrong, I don't want to find anyone. They mostly in meme coins to make a box, and I your is, yeah, seems to have the same, the same ideology from the user perspective.
Jason:
So, you know, with regard to, or do you guys, you know, since you're talking a lot about tokens, do you guys have your own token that you did? You guys do, and I already launched it, like, how did that go? Or what's the plan with that?
Yura:
Yes. So we plan to have qualified token in future, ideally in the end of winter, but we'll see. We'll also have the IDO or ICO. We haven't finalized yet, but for sure, on the sale will take place, and yeah, you can read more about the utilities in our white paper, which is available from the from our website, clarify dot app, but in two words, our main utility for the token is the signals payment with a refund mechanism which will allow people to buy particular signal, not a subscription, as it currently implemented, by access to a particular signal and get the Refund if access if the signal doesn't work, in profit. And also, token will play a role in all the payments across the platform, right? So any payments that are done through the graphite token will be cheaper compared to USDT or other options. And also token will be the only way for you to get access to our close group with top performing signal providers from a legible and also get access to the trading lottery materials that we are planning to co create together with our signal providers, which will be the first trading school, trading learning materials, which will be created by blockchain verified traders.
Jason: e having, you know, an Ico in:
Yura:
Yeah, yeah. Would agree with these points. Actually, I think they that makes sense.
Jason:
So anyway, what do you think? Let's zoom out a bit. You know, we only have a couple questions left. So let's talk about the blockchain industry in general. Like, what do you think are some of the hottest narratives that you see developing, you know, with the exception of meme coins, of course, from a technology perspective, what do you think is some of the hottest narratives upcoming in the crypto space?
Yura:
Yeah, so I think the social part will play a huge role, right? We have Tom with telegram. Obviously, we have camp blockchain, and that's a new chain on optimism, if I'm not mistaken. And the thing is that they're building it specifically for social fine applications. And the power here is that projects on Camp will be able to leverage the web to data from social networks in order to build applications that are really covering the user needs and meeting those needs. So I think using the web to data, the real data of the user in the in the process of creating the depth will play a huge role, because now I think a lot of web three applications that are there are missing personalization, because the only data which is available is on chain, data which is really raw, right, just the numbers, transactions, transfers, whereas the real the real personalization, the real data is hidden in Instagram, WhatsApp, X, you know, I don't know your Google search, and that's what Facebook and other big corporations are doing for quite some time, right? Listening to our phones, reading to our messages, which, yeah, it's a bad thing from one side, but from other side, that helps to build a personalized experience. And I think, kind of combination of these two right of your privacy, but still adding the personalization from the ways that that that are not hurting you is surely will be one of the one of the top things to discuss. And I personally really wait for those first applications to be on board. Maybe Cryfi will be one of them. We'll see awesome. So yeah, I think socialfi will play a big role there.
Jason:
Yeah, I also think the socialfi and Narrative is really blowing up. I think that not really anybody, not many, many people have really cracked that really well. They've really not come up with good utility around socialfi. I have one audience question I wanted to get to before we sum up. Somebody has asked on Twitter if you're thinking about using trading platforms like cry fi, what features or qualities would make you feel confident? So I think he what he means is what, uh, are the features that help build confidence among users on a platform like graphite?
Yura:
Yeah, I think first of all is the ease of use, right? How easy it is to onboard on the platform, to use the platform, how the platform looks and feels is really, really important, the feedback users, any I think that's also helpful, ideally, from real users, right? And I think just the way the platform, the platform works, the platform executes, and the community around it, like, if you, if you're talking about the web three, I see, I think almost, almost all the projects. Are they the communities, open communities like chats on telegram or discord, where you can join in, you can ask questions, you can see how fast admins reply, and what exactly they reply. And then I think that that gives you some kind of initial ideas about the platform or the people behind it, but in the end, yeah, you just need to use it, right? That's the only way to know is it works for you, or is it not so? Yeah,
Jason:
sure, yeah. I mean, there's nothing like sort of using it yourself. So just to sum up, I'd love to know what your personal philosophy is, and you know what, what is the thing that keeps you going? It's been, it's been a, it's been a long, hard crypto window for a lot of people. What do you think is sort of keeps you going?
Yura:
You mean in web3?
Jason:
yeah, in web3, but you know, in general, in trying to push you through these, these days where the market seems like it's just killing you, like, how do you, you know, get up and what's, what's the motivation that you use? Because I'm sure there's a lot of people listening right now that,
Yura:
yeah, well, for me, personally, it's Cryfi, right? It's our goal to remove the scammers from the market and make trading more transparent way. And I don't care about the market. I just care about our vision and the idea behind and the end goal and in general, I'm trying to be always positive, never nevertheless, of what is happening. I'm originally from Ukraine, so on, my stress management is really, is really tough, yeah. So, yeah, amazing. Just trying to find the positive things every time and focus on what, really matters for me and for you, for you guys, personally, and just try to achieve, achieve your, your end goal in life? Would it be success? Would it be money? Would it be love? Would it be, I don't know, just relaxing.
Jason:
Mean, I guess it's different for different people, right? You know, this has been an incredibly insightful session. Really enjoyed chatting with you again. You're bringing more insights into the web3 world. Stay tuned, and we'll see you next Thursday for another episode of Diving into Crypto. Uh, Goodbye everybody. Thanks a lot. Yura, you have a great day.
Yura:
Likewise, likewise. Thank you very much for having us. Bye. Bye guys.
