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Decentralized Masters and Their DeFi Journey

Published

2 months ago

May 22, 2024

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Decentralized finance (DeFi) scene is growing quickly. Tan Gera and Salim Elhila and have entered this dynamic field, starting Decentralized Masters, a platform to guide and teach people about the crypto world.

The entrepreneur duo’s journey shows their ability to adapt, overcome, and evolve, as they create a space for themselves in DeFi’s changing environment.

Decentralized Masters is a platform designed to educate and guide individuals in the DeFi space. It offers comprehensive resources and strategies for navigating the crypto industry, covering everything from portfolio management to market analysis. The platform fosters a mastermind community, bringing together high-value individuals to share insights and strategies. Decentralized Masters aims to bridge the gap between traditional finance and the emerging DeFi world, equipping members with the knowledge and tools to succeed.

From Wall Street to Web3

Salim, an AI and big data engineer by trade, found his calling beyond the corporate world. With a background in engineering, mathematics, and statistical modeling, he expanded his expertise to include marketing and sales strategies for online ventures, becoming the marketing mastermind behind a combined $100M in sales in these industries.Yet, his real breakthrough came in 2022 when a tweet by Elon Musk sparked his interest in Bitcoin (BTC), propelling him down the cryptocurrency rabbit hole.

“I participated in many Web3 projects, the most famous being MetaLegends, where I was managing the marketing side of things. This project sold out for $20 million. That’s when I realized things are happening way faster in the Web3 world”, Salim says. “And by that time, I met Tan. At the peak of the last bull market we chose to launch something together. And that’s how Decentralized Masters came to be.”

Tan, on the other hand, began his journey in the world of finance, climbing the investment banking ladder. From the suburbs of Paris, he navigated a traditional path, securing a role on Wall Street, where he witnessed the inner workings of the banking industry. But Tan’s experience with crypto conferences and witnessing the potential of blockchain technology led him to shift gears. He recognized the power of DeFi, particularly in comparison to traditional banking systems, and made the transition to the crypto space.

“At 21 I passed my CFP1 and got access to Wall Street. I did an internship there as an investment banker, and it really opened my eyes,” Tan adds. “I saw behind the curtains of the big investment banks how the game was rigged. And I saw true use cases of crypto, how it could make everything better.”

Turning Adversity into Opportunity

The inception of Decentralized Masters came at a crucial moment. The company launched just before a brutal market crash: one of the biggest centralized exchanges in the US, FTX, collapsed, triggering a domino effect throughout the industry. The downfall of Sam Bankman-Fried’s empire led to widespread fear, eroded trust in CEXes and intensified the challenges for a freshly launched company.

Despite early success, their journey took a steep turn when their payment processor unexpectedly blocked transactions and banking partners temporarily froze funds. Plus, social platforms restricted their content and it was as if everyone was against them. However, Salim and Tan saw an opportunity in the adversity.

“We were starting to sell really well. It was a massive success. But after one or two weeks of sales, the FTX crash happened,” – Salim reflects. “And from there, everything went downhill. We almost gave up, it felt like the whole Universe was conspiring to make sure we wouldn’t win. But by the end of the year we were like – you know what, if we manage to do this during a bear market, imagine how amazing it will be during a bull market? And from there, it has been a crazy ascension.”

The duo’s resilience paid off, as they secured new banking partners and payment processors, and Decentralized Masters grew from zero employees by the end of 2022 to over 80 team members in just a year.

Both entrepreneurs now look back to late November 2022 as a turning point for the whole DeFi space. People recognized that centralized exchanges were not safe and reaffirmed the value proposition of DeFi platforms.

Tan notes centralized exchanges function like traditional banks, using clients’ assets to make money and offering crypto products without leveraging blockchain technology. According to him, this leads to issues such as limited transparency and lack of security, as seen in the FTX case.

“What centralized exchanges do? They pay clients 3-4% and use their crypto to make 20-30-40% in DeFi protocols. That’s exactly what the bank does when you leave your money in savings,” he recalls. “What we want to teach people is to self-custody their funds to hedge against the monetary system, so they can control it and make the profit instead of giving it to the third party.”

The Decentralized Approach

Decentralized Masters provides comprehensive education on DeFi and crypto markets. The platform’s value lies in its multifaceted approach, from portfolio management and asset selection to technical analysis and strategy development.

As for now, the company boasts a team of 10 full-time analysts who conduct in-depth research into various projects, comparing them across a range of variables. They provide a full overview of each asset, incorporating fundamental, technical, on-chain, and team analyses. The projects are then graded based on these variables, resulting in a ranking system to assess their success potential.

“We’re lucky to be surrounded by a team of people who are all experts in their different narratives. They conduct due diligence on a daily basis,” Tan explains. “That allows us to basically rate different protocols, different projects, and make sure that we only invest in projects that have a high potential of staying alive.”

But the team’s vision extends beyond analysis, encompassing community building and mentoring. Decentralized Masters offers a mastermind community and a platform for members to connect and share knowledge. This extensive ecosystem has fostered a thriving community, where members proudly display their credentials.

“We gather high-value individuals with the same sophistication and values,” Salim notes. “Сommunity in crypto is everything: it can make or break one’s success. At the end of the day, when you’re surrounded by the right people, things tend to work pretty well.”

Bridging TradFi and DeFi

Decentralized Masters’ narrative was designed to act as a bridge between traditional finance (TradFi) and DeFi. Their strategies leverage portfolio management principles from Tan’s CFA background, while also incorporating decentralized finance tools. This convergence of two worlds is pivotal to their mission.

“We teach people to stay away from risk while optimizing potential rewards. It’s all about the portfolio allocation principles that we have and the rules that we follow to make sure we avoid the downside,” Salim comments. “Once you have decided which 10 to 12 assets you want to hold, you can use DeFi tools to juice up the returns with a long term mindset. When the market is going red, you can add some delta-neutral strategies and more elaborate strategies on top.”

The founders draw a parallel from the TradFi world to the current DeFi space, where concepts such as restaking and liquid restaking echo the derivatives ideology from traditional finance. They highlight that this transition represents a broader shift, with all the innovation from TradFi moving to DeFi, where everything can be tokenized.

“While TradFi currently holds more capabilities due to decades of development, DeFi is quickly catching up, particularly with finance experts joining the pace. This space needs real finance people to jump ship and help the devs,» Tan asserts, highlighting the need for collaboration between financial and technical expertise.

This union is embodied in the Decentralized Masters team, with Salim’s engineering prowess and Tan’s finance acumen driving the platform’s growth. The project is poised to expand further, led by its dedication to education, innovation, and community building. Decentralized Masters’ vision reflects the evolving crypto space, as they merge the old and new financial worlds, offering nuanced insights and strategies.

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In compliance with the Trust Project guidelines, this opinion article presents the author’s perspective and may not necessarily reflect the views of BeInCrypto. BeInCrypto remains committed to transparent reporting and upholding the highest standards of journalism. Readers are advised to verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Aptos (APT) Sees Surge in Market Volatility: Price Impact

Published

26 mins ago

July 8, 2024

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APT, the governance token of the Layer 1 blockchain network Aptos, has witnessed a significant price decline in the last month. This comes amid the general decrease in activity in the cryptocurrency market during that period.

Exchanging hands at $5.82 at press time, the altcoin’s value has plunged by over 30%. APT remains at risk of significant price swings as its volatility markers have begun to spike.

Aptos Sees Spike in Volatility

The first indicator of the heightening volatility in the Aptos market is its Bollinger Bands. Readings from this key volatility market show a widening gap between the upper and lower bands of the indicator.

Bollinger Bands measure an asset’s market volatility and identify potential overbought or oversold conditions. When the gap between the upper and lower bands of the indicator widens, it indicates increased market volatility.

Also, during a period of price decline, the widening bands suggest that the downtrend may continue. It signals stronger selling pressure or a lack of buying interest at current price levels.

APT’s surging Average True Range (ATR) confirms the spike in market volatility.

This indicator measures market volatility by calculating the average range between high and low prices over a specified number of periods.

When its value rises, it suggests increased market volatility and hints at the possibility of a price swing in either direction. At press time, APT’s ATR is 0.48. It has been on an uptrend since July 1.

APT Price Prediction: Bearish Divergence Puts Token at Risk

Despite APT’s price decline, it has witnessed a surge in its daily trading volume. While the token’s price has fallen by 18% in the last week, its trading volume has increased by 29% during the same period.

The opposite movements of APT’s price and its daily trading volume create a bearish divergence, suggesting that more market participants are actively selling the asset.

If selling activity remains high, the token’s value may plunge to $5.62.

However, while increasing volume during a decline generally supports the continuation of the downtrend, extreme spikes in volume could sometimes precede a price reversal. Therefore, if APT witnesses a correction, its price may climb above $5.90.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Market

Altcoins Topped, But Meme Coins Set to Soar: Here’s Why

Published

1 hour ago

July 8, 2024

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After a rally in the first quarter of 2024, most altcoins appear to have peaked. They are struggling significantly from their March 2024 highs, with reductions in value ranging between 70% and 90%.

According to the latest data, the total market capitalization for crypto, excluding Bitcoin and Ethereum, has receded to December 2023 levels. This regression has effectively nullified all gains accrued year-to-date.

Why Crypto Analysts Believe Meme Coins Can Still Make New Highs

Crypto investor Andrew Kang believes that nearly all altcoins have reached their peak for the current bull cycle. Nonetheless, he retains a positive outlook on meme coins, which could defy the broader market downtrend.

“I believe 98%+ of altcoins topped for the cycle except for maybe a handful of coins that may make some new highs in Q4 2024/Q1 2025. Memes probably constitute a majority of the coins that have a chance of making new highs,” Kang revealed on X (Twitter).

In contrast to the faltering performance of most altcoins, meme coins exhibit peculiar resilience. Meme coin expert Murad Mahmudov anticipates that the sector will dominate the next altcoin season.

“People are slowly waking up to the black pill that all altcoins have always been meme coins with a bit of techy obfuscation on top. This will cause tens of thousands of people to (1) Sell tech altcoins for pure memes, (2) Buy pure memes instead of tech altcoins with fresh fiat this cycle,” Mahmudov boldly remarked.

Mahmudov’s analysis suggests a shift in investor sentiment. Institutional investors focus largely on Bitcoin (BTC) and, to a lesser extent, Ethereum (ETH), while retail investors gravitate towards meme coins.

“This is why tech altcoins are underperforming. No one wants them,” Mahmudov noted.

Furthermore, data from the crypto analysis platform DYOR highlights the outperformance of meme coins over the last 90 days during market volatility. With a relative strength of -0.37, meme coins have shown remarkable resilience compared to sectors like Web3 gaming and Layer-2/Layer-3 technologies, which recorded much lower strengths of -1.32 and -1.30, respectively.

Relative strength calculates the performance of a particular sector against the broader market.

Relative Strength of Crypto Narratives. Source: DYOR

Hitesh Malviya, founder of DYOR, provided a critical view of the altcoin ecosystem, particularly those backed by venture capitalists (VCs). He argued that many VC-backed projects, despite their initial promise, often do not survive the long term.

“90% of these so-called projects backed by top-tier VCs are essentially white-collar grifters who promise shiny things, raise funds, run the project for three or four years, and eventually die,” Malviya explained.

This pattern, Malviya warns, usually benefits the founders and VCs financially while leaving retail investors at a loss. Malviya’s remarks highlight the need to focus more on community-aligned altcoins.

“If we fail at that, the community will keep trading meme coins, which isn’t good for the larger section of the community, as the greed factor is always high and lacks fundamental backing,” Malviya concluded.

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Market

XRP Worth $4 Million Moves Amid Sentiment Shift

Published

2 hours ago

July 8, 2024

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XRP transactions on exchanges recorded an uptick on Monday, coming amid elevated fear levels in the market.

Traders show a general lack of conviction as altcoins follow Bitcoin’s lead. Despite the bearish sentiment, data indicates heightened interest in Ripple.

XRP Transactions on Exchanges Increase

Data platform Blockchair reported a series of XRP transactions on exchanges on Monday. In one transaction, over 10 million XRP tokens worth at least $4.2 million moved from Binance to an unknown wallet.

In another transaction, more than 3.6 million XRP tokens worth at least $1.45 million moved from Bitstamp to Binance.

When traders move their assets to a wallet, it suggests an intention to HODL. On the other hand, moving crypto between centralized exchanges suggests plans to explore different trading features, lower fees, or a wider variety of trading pairs. It may also be a strategic move to arbitrage between exchanges, as traders exploit price differences to make a profit.

Increased XRP trading activity coincides with changing social sentiment. According to CFGI.io, sentiment has improved from fear to neutral. This indicates that the market is currently neither overly optimistic nor excessively pessimistic.

Along with it, the investment suggestion remains to hold on amid “very positive” volatility, suggesting the need for caution. Nevertheless, Ripple’s Chief Technology Officer suggests the market needs to focus on XRP’s utility rather than its investment potential.

“Still costs $1 to buy enough XRP to make a $1 payment,” Schwartz noted.

The expression came as community members showed concern over how the ongoing market crash would impact the Ripple token. XRP has been subdued below the $0.6 price threshold over the past several months.

Focus on the Primary Function of Ripple, David Schwartz Says

Ripple CTO suggests that XRP holders can take advantage of the current price to purchase more tokens. He believes this highlights XRP’s primary function as a medium of exchange, facilitating fast and cost-effective cross-border transactions despite the bearish market.

However, some say Schwartz is deviating from his 2017 comment and is trying to manipulate the narrative.

“It can’t be dirt cheap. That does not make any sense. If XRP costs $1, they would need a million XRP, which would cost $1 million. If XRP costs a million dollars, they would need one XRP, which would, again, cost $1 million. Except that, higher prices make payments cheaper. Right now, you can buy a million-dollar house with bitcoins. When bitcoins were $300, it would move the market too much and be too expensive to be practical. So higher prices make payments cheaper,” the Ripple executive said in X post.

Nevertheless, Schwartz shot down the allegation that he was deviating and manipulating, reiterating his stance on XRP’s main purpose. This emphasis suggests the Ripple network’s commitment to promoting XRP for its utility in cross-border payments, not as an investment tool.

During Token2049 in Singapore, Ripple CEO Brad Garlinghouse also said the network is now more focused on what utility they are building than on speculative trading.

“Bitcoin ETF volumes have been soaring, we’re due for a halving, and the broader crypto market is following BTC’s lead. As someone who has experienced multiple cycles of ‘crypto is back,’ this bullishness must go hand in hand with real-world utility. That’s the real march of progress,” Garlinghouse explained.

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