Yuriy Kovalev on building Zenfuse as an all-in-one trading platform

0:01i'm ashton addison from eventchain for investmentpitch media in the cryptocoin show and today on blockchain interviews we have yuri kovalev the founder of zenfuse yuri welcome to the show and a pleasure to have you here today hello thank you so much for inviting me to the show i'm very honored to be here let's start yeah i'm really excited to dive into

0:24zenfuse your platform has a huge uh interest around it right now and i'm really interested to hear more about it because i know that you have a lot of updates coming in the near future i would love for you to kick it off with the audience with just a high level overview of what is zen fuse and what are some of the solutions that your team is bringing to the cryptocurrency space

0:45right so then fuse is a trading platform that aggregates all the crypto exchanges that are existing right now i mean not all of them but the the major ones is the good liquidity for now we ever get on listen trust exchanges but in the future we are planning to support decentralized exchanges as well once we'll find a very good like way to integrate them because for now uh you

1:11cannot work properly with decentralized exchanges because we do not know your keys right so you cannot execute tracing on your behalf um so the number one use case for zenfuse is the panic cell feature right now as you can see the market is crashing right so many people many people want this button to be somewhere nearby so for example you you have like 10 exchanges

1:35and you're like 20 20 coins distributed across all of them and all you want to do right now is just to press the button and sell all them to dollars and go to sleep that's it so that's one of the major features we are going to have but another features um uh zenfuse will always like basically essentials is the gateway to like trading so

2:02you have more than one exchange it's a huge pain to manage it right so by using census you'll be able to spend less time to do more stuff so for example if you want to rebalance your portfolio right now it takes up to like kind of like few hours right by using zenfuse it will take you like less than a minute you will be able to rebalance your portfolios across all your exchanges

2:28and a few clicks and uh if you want to read news about your coins it takes a lot of time as well you need to join the you know the telegram groups of the coins you're holding you need to check the rate that you need to check for child you need to check their github you need to check their medium you need to trigger twitter it's all time consuming by using zenfuse

2:47you'll be able to analyze all these things just you know in a few clicks as well you'll see the spikes in the activity you'll be able to you know compare it with the price and do some you know research based on that and uh one of the like another feature that is coming in uh four months i guess is the social platform so basically people will be able to communicate with

3:12each other regarding the price or regarding the fundamentals of you know coins and if you're very helpful to the community people will be able to award you with zifu tokens yeah it's our cryptocurrency that used in the platform and the the more posts you're doing the more videos you're uploading the more tokens you'll be receiving from the community and

3:38the more people you'll be able you know to help i mean the more people you help the more people will help you so we want to incentivize some good content uh being created on our ecosystem and uh yeah i can i can tell you like all the features i mean i'm not sure if i can tell you all the features in 15 minutes it's better to check to check our website to check our roadmap

4:04definitely yeah we can talk about all those features all day long yeah no it sounds like there's a great bundle of features yuri beyond just trading to have that other information where you're whether it's the social channels the website the community understanding you know where the value in the community is on top of just trading is obviously going to be beneficial especially now

4:26that there's just so many different projects to be researching all day and all day and still never know enough and you touched on a lot of different points there but from what i understand on the centralized exchanges you're already partnered with a certain number of centralized exchanges and you can just connect your apis in and trade all of them on zenfuse

4:46really easily is that right yeah that's right and we are planning to put our so we want to be able to put our service into like finance data center hookuan data center in order to execute trades even faster so for right now the delay is about 50 milliseconds 100 milliseconds but when you like multiply it to like millions of users right they delay maybe kind of a bit more

5:14so it's better for us to be located at their data centers i talked to the representatives of those exchanges and there they agreed to so basically we will be able to put our servers to the data centers to execute more trades uh like at the same time because exchanges are interested in this as well since zenfuss is making money for them basically when people are rebalancing

5:38their portfolio they are doing like more than 10 transactions 20 transactions in one second you will not be able to do this manually and you'll be too lazy to do it manually right but yeah by using those things via zenfuse you're basically making fees 20 times more than you did before so basically exchanges should actually pay us for you know for for doing the stuff they're

6:04doing definitely and with the platform you have all this great information there did you really target it to advanced traders or is it you know if you're just starting you only have two exchanges or one exchange you're a beginner trader is it really set for a specific type of trader or just anybody it's um our platform is meant to be used by everybody and actually it's good

6:29for you i mean if you're a new trader it's better for you to start with the zenfuse because it's like you know kids driving a bicycle with four wheels so basically their fuse is a bicycle is four wheels that's great and and now i was looking on the platform and it's not uh you know it's in it's in beta and there's so much anticipation it seems from the community to be able to

6:54get access to zenfuse right away and i saw the waitlist of tens and tens of thousands of people that are waiting for this platform how have you gathered such great uh user adoption so early on was it just organic growth or was it marketing or is just a really needed application in in the industry the growth was 100 organic all the marketing we had was

7:18more about the you know the other things and i mean um all the people that are in our community you you never bought any bots you never you know did any weird stuff that may increase our numbers all the people are subscribed to our medium they're real all the people and you know twitter are real so basically i don't know how like how come you have 36 000 people subscribed to the beta

7:46yeah i was shocked well it's a it's a it looks really good like um you know i'm i'm wishing to get ahead on the list and because the platform looks really really good and do you have any specific timeline on you know when the platform will be released to those people on the wait list um so people who want to access the better right now they can just message

8:09me instagram or on twitter like anywhere or via email and uh only one reason why the platform is not unlocked to everyone right now because it's not 100 finished it's like 40 years 50 finished so we need more time the platform will be live in june the worst case scenario is july but we are doing our best to do it to ship it in june so only one reason why the platform is closed right

8:34now because imagine 35 000 people joining the platform and being disappointed at the same time boom we are dead no so that's only one reason why the platform isn't opposed better and we have more than like 150 people testing the platform right now we have a closed telegram group people are coming to communicating with each other giving us some new ideas and saying that like this

8:59this exchange is not working because of this and this and that and uh it really helps a lot because we cannot trade on all those exchanges at the same time in order to test it we we don't have you know time and you know opportunity to do it so people do it for us for free and we appreciate it a lot definitely and with these people that are testing in beta right now and as your

9:24platform is being built out obviously you want to have it a strong foundation when you release it i'm curious about the security aspect of zenfuse when you're trading on centralized exchanges you know there's there's certain risks that you're you're taking when you're trading there or leaving your funds there and i'm curious if the there are similar

9:42risks or different risks uh and and how your team is mitigating those risks for the traders for their personal data and their funds on zenfuse yeah so we do not hold any keys all the keys are encrypted so we cannot you know execute them we cannot do any any anything on your behalf um so about the security we hired the best team like the best security

10:10analyst to you know find all the bugs that may happen in the future and even if somehow someone will you know hack us they will not be able to do anything they will not be able to execute their trades they will not be able to know your email they will not be able to you know do whatever because once someone hacked us all the data will be compromised

10:34so basically all your apis will become different apis your name will become like abracadabra so they will not be able to do anything and even if somehow they will be able to you know they will start they will have uh they will take the access to your private keys that are encrypted even if somehow they will decrypt it i mean until we are using the best like

10:57method of encryption it will take millions of years even if after one million years someone will decrypt your key it's a bit late definitely that's good to know and and further on the security i saw that your team is working with certic and i'm guessing that's what you mentioned about this top security firm i did speak with sertic on the show recently as well and they're

11:19working with a lot of the top d5 platforms right now and it looks as though they were doing an audit for you and also the token time lock which sounds really interesting can you just talk about the audit process and how you worked with security with them prior to the launch yeah so we worked with certificate to be sure that our smart contact has zero bucks and uh it is our sparkler as

11:47absolutely like zero bucks at all we have some minor issues like like i don't know the letter should be like this not this whatever it doesn't affect the code it's not like there will be no security exploits so all the comments were implemented all the changes were made regarding the comments of guys from certified and uh our smart contact

12:13smart contract is safe our platform is safe our bridge is safe the only one reason why our bridge was delayed so we we made a big erc20 to b20 bridge from ethereum to finance and it was delayed for like a week or so only because we wanted to be sure that it's safe yeah definitely i mean yeah we don't want to test

12:38in production like some people do yeah because we can lose our reputation like in a minute right definitely that's why we should be careful definitely and that's a great way to approach it i think and um i i was reading into the zenfuse zhifu token and i'm i'm curious is it used uh as a utility within the platform and what are the other use cases of zifu

13:02and does it create a sustainable ecosystem for the participants that are trading yeah so zifo token will be used in the platform once the platform will be live uh the number one use case is very simple basically if you hold a specific amount of tokens the platform will be free for you if uh you hold like and the second uh use case is not like the platform related use case but

13:29it's needed for people called to talking so basically the longer you hold the token the more rewards you have the more rewards you'll be able to claim this third one is the social network so you will be able to tip to other people to incentivize them to do like better posts the uh force uh use case is the uh marketplace uh yeah so basically you know apple app

13:57store android app store or shopify store so basically people will be able to create widgets and uh applications through i mean inside the energy psycho system to make censors ecosystem even more uh useful and so for example if you're a developer and you and you created some kind of nft marketplace and somehow it can work with um zenfuse ecosystem business

14:25talking with zenfuss user base you'll be able to upload it for marketplace we'll check it if there is no bugs it will be inside our ecosystem and there is like there is a lot of benefits for you as a developer the first one is that you will save basically millions of dollars on marketing you will not you will probably i mean all the developers they're like indie

14:48developers it's like basically one or two guys they only want to do like programming stuff right they don't want to do business related stuff they don't want to do marketing related stuff and so on and so on so on so our marketplace will um accelerate the growth of of crypt projects because they will be able to focus on the product that so basically

15:13um through zenfone's data you'll be able to not only trade but do many other things and this is happening next year once you to our own blockchain so right now we are working on our blockchain in the background and uh it's going to be super uh fast super cheap and uh we don't want to stay on binance chain or on ethereum chain

15:41for you know for a long time because it's not in our control and it's not super you know reliable ethereum fees are are crazy finance chain is centralized so yeah testing is perfect well that's big news i i didn't know that yeah you're building a zenfuse protocol layer one solution that's uh that's something i will definitely be looking forward to

16:06hopefully we can follow up and do another video when when we get closer to that but in the meantime you still have the wait list going on right now for the main application to be launched um is there anything that your team is looking for are you just looking for more people to join the waitlist more beta testers developers expanding the team um so for now we are only hiring people

16:31in our russian office in the same places work because it's faster it's easier to communicate and because we are basically working 24 7. i don't remember the last time you had uh weekend you know to rest so and it's it's easier when everyone is in the same building definitely so that's why we are not i mean we have uh more than like eight remote uh employees but they're helping

16:58us with the marketing part because the market making with you know all the things that are not needed to be allocated like in the office so yeah if you're a developer and you can speak russian and you're leaving or you can really locate us in petersburg just drop me an email yeah sounds great and for the people that are looking to uh for the people that are looking to just

17:19get more news about the platform follow along as it gets released what's the best way for them to stay involved the best way is to subscribe to our twitter or to join our telegram announcement channel you just need to type zenfuse and telegram and you'll see our news channel or you can also join our community it's super friendly if you have some issues you can just you

17:42know send a screenshot or just type something in me personally or our community managers or our community will help you less than a minute sounds like yeah i will leave those links in the description box below as well for the viewers thank you so much for taking the time yuri to come on i know you're really busy and your team is working hard on getting

18:02zen fuse released all the best with the upcoming release and let's follow up in the near future thank you so much i would like to have another video in the near future once the platform is released i guess that will happen in june awesome

18:30you