Hi Obasi Francis, thank you very much for taking the time to join us for this interview to help our community learn about the DeSpace Protocol. Can you introduce us briefly? What’s your story that goes as far back as you want?
Hi, I’m Obasi Francis, a Nigerian and a graduate in Political Economy from the University of Benin. I am the founder and CEO of Lead Wallet and DeSpace Protocol.
I’ve been in the crypto space since 2016 and have seen projects during those time frames that came and went either because of a bad business model or because of bad management. I rose from writing content to moderating the communities of various projects, business developers, and becoming a blockchain entrepreneur. I founded Lead Wallet in 2019 since I and the Lead Wallet built the startup from just $ 350,000 to over $ 5M in just two years with so much upside potential.
The DeSpace Protocol is my latest adventure and I believe the possibilities it offers are limitless, especially for DeFi and NFT lovers.
Why did you get involved in the cryptocurrency industry and where do you think the industry will be in 5 to 10 years?
The problem of underemployment and unemployment in my country has primarily led me to look for alternative economic opportunities that go beyond the borders of Nigeria.
Well, over the next 5 to 10 years, the crypto industry will grow 50 times its current size. This apparent growth will be reflected in the areas of user acquisition, new business model, more practical and efficient DeFi and NFT technologies that will support the push towards the adoption of crypto masses.
That is amazing. Now, can you give us a brief introduction to the DeSpace Protocol and its history?
For sure! Why not. DeSpace Ecosystem is a registered entity in the UK. DeSpace Ecosystem Limited is the legal entity through which we create and manage DeSpace Protocol and DeChain Blockchain projects. The DeSpace protocol was first conceived in 2017. However, due to the bear market that hit the market in 2018, we decided to pause the idea and wait for the right time to restart. And we did that in 2021 because we believe this is the right time for NFTs and DeFi products to drive the much-needed adoption of crypto masses.
In short, we are building a decentralized DeFi and NFT protocol (DeSpace) on top of a second layer blockchain solution – Dechain. DeChain is a multi-chain Layer Two blockchain solution that allowed us to create a DeFi and NFT aggregator solution that allows users of the platforms to mine Des Coins while accessing their preferred DeFi directly from the DeSpace website. and access NFT solution. In addition, DeSpace will have its own native decentralized exchange (DeSwap) that supports Spot, Margin, Futures and AMM so that all types of crypto traders and DEX users can benefit from the multitude of features. The protocol will also have a native decentralized lending and stable coin generation platform that allows crypto users to borrow and provide liquidity while mining DES.
I believe DeSpace will be this one stop solution for crypto lovers, enthusiasts and noobs for DeFi and NFT use cases
Could you please also give us an overview of the most important things about the DeSpace Protocol?
The DeSpace protocol is unique in that it is the first most comprehensive DeFi and NFT aggregator protocol that allows users to mine des coins when transacting on their favorite DeFi and NFT platforms. As an aggregator protocol, DeSpace is based on a proprietary Layer Two Blockchain (DeChain) solution that enables interoperability, multi-chain transactions, and compensation schemes provided through mining and staking rewards. In addition, DeSpace has a native Dex, Loan, and NFT marketplace with a variety of features that make it exciting for users to passively earn. Ahead of our TGE event, we will be releasing our first rare and gamified NFT cards that will allow users to request our first set of pre-mainnet NFTs that can be used to mine Des Coins or breed more NFT cards.
How did you get into the DeSpace Protocol and why? Early on, did you see an opportunity for the DeSpace Protocol to fill a niche in the market?
Longtime Crypto Friend – Isaac shared the idea of DeSpace with me sometime last year, and as I digested the information on DeSpace that was available at the time, I was excited and immediately saw a void in the market that needed filling. So I told him that I wanted to be part of the project as the idea of DeSpace and DeChain was new and my experience in the crypto room will be very beneficial to the project.
It is evident that the DeFi market has continued to expose the world to infinite possibilities and it is sometimes very difficult for people to keep up with the growing pace of DeFi and NFT products. This is exactly the problem DeSpace is trying to solve by providing an aggregator platform that makes it easy for users to navigate and use DeFi and NFT solutions.
What have been the biggest challenges you and the DeSpace Protocol have faced since the project started?
The biggest challenge was to bring all of the ideas we have about DeSpace together into one great, easy-to-use solution. I am glad that we are already making progress in this direction and will be bringing the first sets of DeSpace solutions to market in the next few months.
Roger that. What has been your greatest success to date and what has been the greatest failure or setback, personally or in the history of the DeSpace Protocol?
We’re pretty new and other than what I’ve described above, we haven’t had any serious challenges yet. And I am confident that there will be no failures as we have an experienced team that delivers good technology.
Tell us about your other team members. Who are the people behind the screens?
We have a combined experience of 20 to 25 years in the field of fintech and crypto. Some of them come from the traditional fintech sector, the rest are very experienced in all areas of crypto and blockchain.
What is the next step for the DeSpace Protocol over the next 1-2 years?
Create a stunning easy-to-use DeFi and NFT protocol that users can use to passively mine Des.
You are also the CEO of Lead Wallet and Business Dev. Manager of DAO Maker. Can you also give us a brief overview of these two projects?
Yes sure. Lead Wallet is a decentralized multi-crypto wallet application that allows users to easily and securely store, spend, use and exchange cryptocurrencies. The wallet is also efficient for navigating the DeFi and NFT world as it supports an efficient webb3 browser which is required for navigating the decentralized world. The wallet app is currently in beta for Android users. The mainnet app version, which supports both iOS and Android, is slated to go online next month.
DAO Maker, on the other hand, is a company I love so much because it gives entrepreneurs the opportunity to raise funds for their startups through various unique fundraising structures such as the Strong Holders Offering (SHO) and Dynamic Coin Offering (DYCO). Seed offering and a host of other powerful solutions that aim to add value to the entire crypto verse. DAO Maker also has a social mining program that allows active and knowledgeable crypto people to earn crypto by performing social tasks on the selected social media platforms. In short, DAO Maker is a VC startup that has been redesigned for the benefit of retail investors. With the DAO business model, growth technologies and financing frameworks for startups can be created while reducing the investment risk for investors.
When people want to follow the DeSpace Protocol on social media, visit your website, or read important documents like your white paper, what links do they need to visit? Please list them below.
Yes, the DeSpace protocol has a website accessible at https://despace.io and our first NFT batch goes live at https://despace.app.
We are currently on Twitter as @DeSpaceDeFi and on LinkedIn via – https://www.linkedin.com/company/despace-protocol.
Thank you for your time – any final words?
I just want to take this opportunity to say a big thank you to all of my crypto supporters out there, and DeSpace is a project to watch out for. If they like what we did with Lead Wallet, they will love what we do with DeSpace. And a big thank you to you (please enter your name) for this interview. It was really a pleasure answering your questions.