Hsuan-Ting Chu on Furucombo’s tools for decentralized finance

0:01i'm ashton addison from event chain for investment pitch media and the crypto coin show and today on blockchain interviews we have schwan ting chu the ceo of furu combo shawn tang welcome to the show and thanks for taking the time to be here today man hi ashton uh thanks for uh for having me it's good to be here i'm really excited for our discussion

0:21there's a lot of interesting things going on right now in the d5 space specifically if we could just start off with a breakdown of what exactly is the focus of furu combo and what are the problems that your team is solving for so furu combo is trying to simplify the d5 and then we want to make sure that when everyone wants to hop into d5 they know how to start and where to

0:45start yeah well decentralized finance has been a huge growth industry inside of blockchain throughout 2020 exponential growth but it still seems that it's really early stage and there's a lot of investors uh that are proficient in cryptocurrency but have yet to dive into defy is there some problems in the industry or friction that you noticed and that those are the solutions that

1:12you provided for furu combo being created yeah i think uh you know how to step into the d5 space it's it's it's mainly the problem that's why a lot of investors are investing in our company because we do really simplify the dfi for example if you want to swap a stable coin of uh swap ether to a stable coin and then supply to a lending platform you will have a lot of choices uh you

1:41can swap your uh tokens on like uni swap kyber bank or but they all have different concept or different user experience or different requirements for you to use it and to get the token after you get a token and next step you will say okay well which landing platform should i use should i use compound ave or should i use you know other platform and the same same problem happens again you

2:06know they all have a different user experience and also the device concept is a little bit hard for people to understand and they need a lot of uh like technical requirements because you will have to set up your metamask your ledger and then blah blah blah and then try to verify try to approve the transaction so it's a little bit hard for like normal people

2:29to you know i just want to experience it i just want to you know make my money bigger why is there so many challenging yeah so i think this is the main problem that we are solving we try to unify the user experience of using defy and then we try to provide as much uh information to the users and also try to educate them and try to guide them to the right

2:53protocol or join service that they are going to use definitely and now you're focused on user experience which i think is really a really good factor for adoption is that really the goal of opening the d5 space i think right now it's 0.5 percent of people that use cryptocurrency are actually involved with d5 which is so small is it really just lowering the barriers to entry

3:19making it easier on you know the menus and an aggregator or what specifically are you focusing on as a priority for the growth of the platform yeah so uh we have uh so so the primary focus of the team right now is the community this is this is not a like a simple normal answer but i'll say uh we spend around like six months to nine months to

3:47build the infrastructure so we connect it to a lot of different protocols and also we build the front end for uh like end users or traders uh to you know uh build their trading strategy on our platform but for right now a device is still like growing fast super super fast so we need to find a way that um we can keep growing the platform and make sure we have connected to the

4:15latest protocol and also we acquired the you know top talents around the world make sure that build their strategy on through combo instead of you know trying to learn solidity so we want more people to know about us and contribute on the platform so that's why we uh are busy working on you know kicking off the key components of the whole community and also

4:37trying to you know build the community um yeah because if we feel we build the community right and also the community is very you know uh actively participating in the in the ecosystem in the platform i think the whole full combo platform will be you know be still be in at the very top of the you know defy space yeah so the answer would be working on the community definitely

5:05okay that's great well it's definitely uh you know d5 has been a community driven initiative with decentralized governance and these decentralized exchanges really getting more volume than centralized exchanges at some points here so i think you're right on the cusp of this transition in the industry for exchanges to to move towards something where furu combo could could be very

5:27large so i'm excited to see for 2021. now i was reading on your site that your platform enables you know d5 combos which has you know in the name furu combo and inspired over 800 different d5 strategies as well now this sounds confusing to people that are just like oh i think i know i thought d5 was just just lending money and and getting interest on money so can you

5:52talk about what does that mean for the combos and d5 strategies that you can do on furu combo yeah so uh what we mean a combo is okay so this is a little bit confusing so combo is our token name and also it's how we call trading strategy so we call you can use that combo on full combo and that means you can use that uh you know certain trading strategy on

6:18our platform so um why should people use combo or uh the d5 is not just about swapping and landing it's about a lot of things that's why we have 800 different uh trading strategies so so uh the easiest way to use or to try d5 is to swap your stable coin or maybe swap your ether to die on uni swap

6:47that's the you know easiest way i'll suggest everyone to try it and after you swap the ether to die you can swap to lending protocol but not just you know the the easiest way because a lot of people are trying to compare d5 and traditional finance what's good about e5 you know what can they do not the traditional finance cannot i'll say d5 provides the

7:13efficiency and low cost and also permission list so everyone around the globe if you want to get like higher interest around like five percent or like maybe like usdc eight percent you know that's they have uh they follow the rules in the usa so it's pretty pretty safe uh you can try define yeah because we lower the lower you know a lot of cost but d5 is not just about you know swap

7:39and then supply to landing platform it's a lot a lot of things you can build your position using compound using flash law and then you know try to move your apy from compound to ave or maybe you can short die uh on on a device space within just one platform which uh showdown is a pretty famous trading strategy which is only on for combo if you don't

8:01know how to code um yeah that means okay let me explain about short dice so sure that is uh this is pretty i think this is pretty easy for you know everyone so die is a stable coin but uh this staple coin is really really popular so during the d5 summer which is a very pop like you know hype in last summer uh people a lot of people are trying to use dye to invest in the d5 project

8:25so dye's uh demand is really high so the price goes high so it's from like one dollar to 1.03 so at this point you can start to short dive because style will finally go back to one dollar like for example right now right it's the season is still very very hot but uh not so many people are using dye so uh when you are so so when the dye is unpacked from one dollar

8:51you can use our short die combo to build your position on maker and when the die goes back to one you can just do the reverse one we have another combo it's a reverse trading strategy and then they will give you some profit yeah so the ld5 there are they are just not swapping and ending it's and it's not just about you know spot trading it's about like

9:14i'll say it's programming you know yeah use your imagination try to uh just like write an article you can write whatever you want and then you will have different results on every different article yeah definitely that's really interesting true and thanks for elaborating on that there's definitely a lot of different strategies and i'm sure there'll be

9:33more to come on your platform as well as we're still in the early days now i want to talk about one of your recent uh achievements your team recently raised 1.85 million in seed funding so congrats on that for food combo can you talk a bit about some of your partners in the raise and if they'll be acting as strategic partners and advisors as you continue to

9:56grow yeah i'm like really really exciting that we have these people on board because uh i i i wrote this on twitter it's uh i say it's not about how much we raise it's about who we cooperate with because i think in crypto space uh people uh you know to get funding it's easy but you know choose who want to you want to cooperate with or who want to cooperate with you

10:22it's important so uh we have invested like 7x d finance uh 1kx multicoin and avestani and some other android investors so i think why we choose to cooperate with them is because they all have different angle of thoughts on certain things like d5 or you know

10:48crypto and i think this is very important is because um d5 is just at very early stage it's just beginning and then we need to make sure that it's not you know just one single thought so when i and my team and i are you know working on this we might have uh you know we share the same uh value or we have a same thief but these investors they all have different things

11:17so when i uh talking to them during the pitch or during uh before before i pitch to them i i start to feel like i'm learning from different professors or i'm learning from i go to different classes i go to different schools so that's why i choose to cooperate with them some of them are you know focused on the trading some of them are focused mainly focused on the nft or

11:42some of them are you know a really deep thinker about like the blockchain itself yeah and they another thing is that they base they mostly they locate in different areas i know crypto is a universal or it's uh you know globalized but i think still different uh location vc they will have a different culture and also they will have a different network so that's why we

12:08choose uh you know one country not one area one vc and then try to make sure our connection and our these our thoughts it's very uh you know globalized yeah that's great and you do have quite a diversified range of strategic partners so i'm looking forward to seeing the next steps for furukawa because i know that you have more in the works now to talk about towards

12:33the future with that raise completed what is your team's primary focus right now you know with the money in the bag yeah so we focus on three things so first thing is uh aggregator needs a lot of people because we connect to a lot of different uh d5 protocol such as we are upgrading ave v2 one into v2 and unit swap v3 coming up and a lot of different protocols they

12:57are trying to upgrade so we need to you know take care of this so first we are going to expand our team um so we are hiring in taiwan in uh in asia of course in global uh d5 never sleep money never sleep so globally hurry and second thing is security we care about security a lot like seriously security so we don't we we test everything in our environment and then

13:23we ship it and we are going to audit our smart country system like every three months like whole system audit like open sampling travel bids that are going to help us to to audit our system make sure that we are very very safe especially our protocol our platform is for and uh like entry user or you know the normal user they don't care about like you know are you going to

13:49what did you do they just care about my money it's safe or not right they don't they don't spend too much time thinking about oh this is defined so i should have patience about this i might lose money so i will pop up but no they just need like oh you should compare to like chase bank or you know the bank in my in my life it's super safe so second security

14:08the third um that we are going to focus on is our product so we have team we have security and then we have money we have an investor now it's product so we are going to release our v2 but a lot of people are asking about uh what is v2 or when will v2 be online the answer is pretty simple v2 is not a date that we're going to release certain software

14:33v2 is a direction it's a vision it's a way it's a it's a direction that where we are going so v2 we include some topics that we want to solve the first one will be uh the premium feature so a lot of feature so the whole food couple is free right now and that is because that we want to test the market and we want to try to

15:00make sure that uh people can try to fill the compressibility of d5 without paying anything since the gas fee is already high so uh we're going to have a some premium feature and the second we are going to have a function a feature called pull combo so pokemon is something like a white vault or something like a harvest it's just like uh like uh everyone can

15:22become a fund manager like on etoro right like a social trading so if i'm a top trader and uh other people they don't want to spend time research about dfi trading strategy they will just put money in my vault and then i will help them to invest in you know different trading strategies that's all our poor combo and the third thing that we are going to focus

15:45is there too so ethereum is crowded it's busy and it's very expensive right now so we are going to like every every device protocol is trying to upgrade then uh their protocol to there too to solve the latency to solve the fee and of course uh us aggregator we connect every dots on d5 which is uh connects every protocol so if they go to there too it's the

16:10compressibility is broken so we spent a lot of time like doing research and talking to layer two solution providers and last thing that we are going to focus is the cross chain so either it's crowded as i mentioned and we see a lot of different blockchain are growing up and they try to migrate the d5 ecosystem from ethereum or they build their own device

16:32ecosystem we want to make sure that our user doesn't will not like you know get ignored or you know they can capture uh any kind of market chance on blockchain you don't have to worry about what is ethereum or is it on polkadot or what is near blockchain you just go to fruitcombo and tell me how much you want to invest which strategy you want to use

16:55who's your favorite font manager that's it you put in your diet or putting your ether even your bitcoin we will help you with the rest so this is mainly the v2 that we're going to like release month by month like we have still have 11 months it's this year so yeah v2 is the 2021 version of through combo true that sounds very exciting i'm looking forward to all of those

17:20updates and for the community they you can already get involved right now i know you have uh record volumes on the platform already so congratulations to that for people that are looking to get involved with food combo before v2 comes out and watch for the updates as you do roll them out what's the best way for them to learn more and to get involved

17:40just visit furu combo dot app we have a lot of documents i have a lot of tutorial like video if you want to talk like learn more about the the platform you can just go to our document center or go to our discord a lot of people are helping you there sounds great i will leave those links in the description box below thanks so much for the time for the

18:02interview all the best with furu combo v2 and the whole works for 2021 and let's follow up in the near future thank you thanks for having me here you