With its smooth connection to popular social media platforms, Know More is transforming the way decentralized trading works by making it possible for investors to access a fraction of a Bitcoin for as little as $10. At the forefront is Read More , a trailblazer in Web3 boasting over a decade's worth of expertise in blockchain technology, DeFi, and cryptocurrency exchanges.

In this conversation, Michael discusses the remarkable growth of Vanilla Finance, which has amassed over 5 million users, the strategies that propelled its rapid success, and its bold initiative to embed DEX services directly into platforms like Telegram and others, effectively redefining the future of digital finance.

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I embarked on my Web3 journey back in 2013, so I've accrued nearly 12 years of experience in this thriving industry. I started my career by working on the foundational elements of crypto technology. In 2014, I founded a firm that delivered blockchain-as-a-service solutions to assist traditional Web2 businesses in transitioning their data to the blockchain. We primarily targeted sectors like insurance, supply chains, and manufacturing. I led that firm for around five years before shifting my focus to DeFi from 2017 to 2018, right as the buzz surrounding Ethereum and DeFi protocols began to surge.

Following that, I transitioned to the exchange segment of the business, then returned to DeFi in 2022, and currently find myself involved in both DeFi and exchange-related initiatives. Thus, my expertise primarily lies in exchanges and decentralized finance, coupled with a solid foundation in blockchain infrastructure and its real-world applications.

What methods contributed to achieving over 5 million total users and 1.7 million active users monthly?

Our approach to product development played a crucial role in our success. My co-founders and I possess extensive experience managing cryptocurrency exchanges. We possess deep insights into the complexities of running exchanges and financial products, which are often more intricate than most people realize.

We harnessed our extensive industry knowledge to craft a distinct product. Vanilla Finance enables users to own a fraction of Bitcoin for merely $10. Essentially, while engaging in trading, we supply them with Bitcoin liquidity, allowing them to reap the benefits from price fluctuations. This model is incredibly enticing for retail investors, as not everyone can acquire a full Bitcoin. If the price of Bitcoin jumps by $400 within just 10 minutes or an hour, the user benefits from that profit as if they held a complete Bitcoin.

Moreover, we offer a leverage of up to 10,000x without any risk of liquidation. In many other trading frameworks, if a user predicts the price direction of Bitcoin incorrectly, they typically face liquidation. With us, they will never suffer losses greater than the initial $10 they invested. This makes our product particularly attractive for newcomers and fosters broader acceptance. Such features have propelled us to achieve these impressive statistics in a remarkably short timeframe.

In which regions has the platform seen the fastest uptake?

We have concentrated our efforts on areas rich in trading cultures, notably South Korea, Japan, Southeast Asia, and Turkey. These regions show a high level of cryptocurrency integration, where digital assets are frequently utilized.

South Korea, for instance, boasts a vibrant trading community, especially in the realm of futures trading. Thus, we have dedicated considerable resources to these vital territories, significantly contributing to our growth.

How does the newly launched user interface elevate the user experience on Vanilla Finance?

In our industry analysis, we observed that while numerous products boast impressive features, their user interfaces and experiences can often be overly complex. Seasoned traders tend to favor sophisticated tools, but we recognized the necessity of catering to novice users with limited trading backgrounds to promote widespread adoption.

Consequently, we streamlined our user interface, ensuring we retained all essential functionalities. This thoughtful balance facilitates an easier onboarding process for newcomers while continuing to satisfy the demands of seasoned traders.

Is Telegram the foundational platform for your services?

Not precisely. Our goal is to provide a decentralized exchange that accesses all social media channels. Currently, we are operational on Telegram and are preparing to launch on another major social network that I can't disclose at this time.

Additionally, we aspire to directly integrate our DEX into platforms like TikTok, Instagram, and Twitter, enabling users to utilize our services effortlessly without needing to download an additional application. Social media networks collectively house around 5 to 6 billion users; capturing even a small sliver of that demographic represents immense market potential.

Telegram alone boasts 900 million users, and we attracted 5.5 million of them within just five months. Our strategy focuses on embedding DEX services within social applications to reach a wider audience.

Are there alternative strategies to draw regular users to DEXs through platforms like Telegram?

There's a prevailing notion that Telegram users primarily pursue airdrops rather than engage in active trading. We shared similar concerns upon entering Telegram, but I truly believe a product's success hinges on its inherent value.

Several Telegram-centric crypto projects appear as simple 'tap-to-earn' games lacking genuine utility. Hence, when tokens are finally launched, many people tend to sell off their holdings immediately, resulting in fleeting projects. Our strategy diverges—users can start earning real money on our platform right away, not just accumulate points hoping for a future airdrop.

Therefore, the challenge isn't that individuals dislike DEXs; many Telegram initiatives simply don't live up to expectations.

Can you detail the main features of your newly launched 'Sugar Boost' and other lucrative offerings?

'Sugar' represents our points system; users accrue sugar points through their trading activities. These points allow them to upgrade their 'ice cream cart,' which affects the token distribution they can access. Unlike other projects on Telegram wrestling with comprehensive token distribution, we guarantee that users actively trading with USDT receive the most substantial benefits.

Additionally, we organize trading competitions in partnership with networks like Solana, BNB, and TON. Such competitions enable users to win tangible rewards rather than merely farming points for uncertain payouts.

What are the primary objectives for Vanilla Finance this year?

User acquisition is our top priority. We're preparing to launch on a new social media platform soon and aim to win millions of users there. We will also continue to expand collaborations with projects based on Base, Solana, BNB, and the TON ecosystem.

Having successfully closed our seed funding round, we now possess the resources needed to realize our ambitions. Our current focus is on scaling our team, especially in marketing and operational segments.

What hurdles do you foresee in the industry, and how is your company gearing up to tackle them?

The primary obstacle for DEX platforms lies in competing with centralized exchanges (CEXs) for liquidity. CEXs are financially robust and command substantial liquidity pools, particularly in the futures market.

However, DEX platforms have made remarkable strides regarding user experience and liquidity. Innovations brought forth by platforms like Uniswap have revolutionized the landscape, and I am confident that DEXs will capture a notable market share from CEXs over the next 3 to 5 years.", ', please be advised that the content on this page is not intended to serve as, nor should it be interpreted as, legal, tax, investment, financial, or any other form of advice. Always invest only what you can afford to lose, and seek independent financial guidance if you have uncertainties. For more detailed information, we recommend reviewing the terms and conditions as well as support pages provided by the issuer or advertiser. MetaversePost is dedicated to accurate, impartial reporting, but market conditions may change without prior notice.', "Victoria writes on a wide range of technology topics, including Web3.0, AI, and cryptocurrencies. Her extensive background enables her to craft informative articles engaging for diverse readers.