Greetings, Obasi Francis. Thank you for joining us for this interview to help educate our community on the DeSpace Protocol. Could you give us a quick rundown of your background? What’s your backstory, as far back as you want to go?
Hi, I’m Obasi Francis, a Nigerian who graduated from the University of Benin with a degree in Political Economy. Lead Wallet and DeSpace Protocol are my companies, and I’m the founder and CEO of both.
I’ve been in the crypto field since 2016, and throughout that time, I’ve seen projects come and die as a consequence of a weak business strategy or poor management. I progressed from content authoring to community moderating, company development, and becoming a blockchain entrepreneur. Since founding Lead Wallet in 2019, I and the Lead Wallet team have grown the business from a $350k firm capitalization to over $5 million in less than two years, with a lot of room for growth.
DeSpace Protocol is my most recent journey, and I think the possibilities it presents are endless, particularly for DeFi and NFT fans.
Why did you get engaged in the bitcoin business, and where do you see it in 5–10 years?
My quest for other economic possibilities outside of Nigeria was mainly motivated by the issue of underemployment and unemployment in my nation.
Well, I believe the crypto business will expand by 50 times its present size in the next 5–10 years. This noticeable increase will be seen in areas like as user acquisition, new business models, more practical and efficient DeFi, and NFT technologies, all of which will help the push toward crypto mainstream acceptance.
That’s incredible. Can you now give us a brief overview of DeSpace Protocol and its history?
Sure! After all, why not? DeSpace Ecosystem is a legally recognized company in the United Kingdom. The legal organization through which we are developing and administering the DeSpace Protocol and DeChain blockchain initiatives is DeSpace Ecosystem Limited. DeSpace protocol was originally developed in 2017, but because to the bear market that struck the space in 2018, we decided to put the project on hold until the perfect moment came to relaunch it. And we did so in 2021 because we believe that now is the ideal moment for NFTs and DeFi devices to help promote crypto mainstream adoption.
In a word, we’re developing a decentralized DeFi and NFT Protocol (DeSpace) on top of Dechain, a layer two blockchain. DeChain is a multi-chain layer two blockchain solution that allowed us to create a DeFi and NFT aggregator solution where users may mine Des currency while transacting on their chosen DeFi and NFT solution directly from the DeSpace website. DeSpace will also have its own native Decentralized exchange (DeSwap), which will support spot, margin, futures, and AMM, allowing all types of crypto traders and DEX users to benefit from the variety of features. The protocol will also have a native decentralized lending and stable coin generation infrastructure, which will enable crypto users to borrow and provide liquidity while mining DES.
DeSpace, I think, will be the one-stop shop for crypto aficionados, newbies, and enthusiasts for DeFi and NFT use cases.
Could you also give us a quick overview of the most essential features of DeSpace Protocol?
DeSpace Protocol is unique in that it is the first and largest DeFi and NFT aggregator protocol, allowing users to mine Des currency while transacting on their favorite DeFi and NFT platforms. DeSpace is an aggregator protocol based on a proprietary layer two blockchain solution (DeChain) that allows for interoperability, multi-chain transactions, and a compensation system based on mining and staking incentives. DeSpace also includes a native Dex, lending, and NFT marketplace with a range of features that make passive income interesting for users. Prior to our TGE event, we will release our first batch of pre-mainnet NFTs, which can be used to mine Des currency or farm additional NFT cards.
So, how and why did you get engaged with DeSpace Protocol? Did you see a potential for DeSpace Protocol to address a market gap early on?
Friend in the crypto world for a long time — Isaac first mentioned DeSpace to me last year, and after digesting the information that was available at the time, I was thrilled and recognized a gap in the market that needed to be filled. So I told him I wanted to be a part of the project since the concepts of DeSpace and DeChain were unique, and my crypto expertise would be very beneficial to the project.
It’s clear that the DeFi industry has continued to provide the globe with limitless possibilities, and it may be tough for individuals to keep up with the fast-paced development of DeFi and NFT goods. DeSpace will attempt to address this issue by creating an aggregator platform that will make it simpler for consumers to browse and utilize DeFi and NFT solutions.
What have been the most difficult difficulties for you and DeSpace Protocol since the project began?
The most difficult task has been condensing all of our DeSpace concepts into a practical and usable solution. I’m happy we’re already making work in this area, and we’ll be releasing the first DeSpace solutions in the next months.
Understood. Now, what has been your greatest personal accomplishment, and what has been the worst failure or setback in the history of the DeSpace Protocol?
We’re still very young, and apart from the difficulties I mentioned before, we haven’t faced any significant obstacles. And I’m sure there won’t be any setbacks since we’ve assembled an experienced team capable of delivering high-quality technology.
Tell us about the other members of your team. What are the identities of the individuals behind the screens?
We have a total expertise of 20–25 years in the financial and crypto sector. Some come from a conventional finance background, while the others have extensive knowledge of crypto and blockchain.
What is DeSpace Protocol’s next move in the next 1–2 years?
Create a powerful and user-friendly DeFi and NFT protocol that enables users to mine Des discreetly.
You’re also the CEO of Lead Wallet and the DAO Maker’s Business Development Manager. Could you also give us a brief overview of these two projects?
Yes, of course. Lead Wallet is a decentralized multi-crypto wallet that enables users to store, spend, stake, and exchange cryptocurrencies quickly and securely. The wallet is also useful for exploring the DeFi and NFT worlds, since it includes a web3 browser that is essential for browsing the decentralized world. The wallet software is presently in testing for Android users, with the mainnet app version, which will support both iOS and Android, set to launch later this month.
DAO Maker, on the other hand, is a company I adore because it allows entrepreneurs to raise funds for their startups through a variety of unique fundraising structures such as the Strong Holders Offering (SHO), Dynamic Coin Offering (DYCO), Seed Offering, and a slew of other innovative solutions aimed at enhancing the crypto-verse as a whole. DAO Maker also offers a social mining program that enables active and educated crypto users to earn cryptocurrency by performing social activities on the platforms of their choice. In a nutshell, DAO Maker is a venture capital firm that has been reinvented to benefit regular investors. DAO’s business strategy allows it to develop growth tools and financing frameworks for startups while also lowering investment risks for investors.
What are the URLs that people need to visit if they want to follow DeSpace Protocol on social media, visit your website, or read key papers like your white paper? Please list them in the box below.
Yes, DeSpace Protocol has a website at https://despace.io, and our first batch of NFTs will be available at https://despace.app.
We’re @DeSpaceDeFi on Twitter and https://www.linkedin.com/company/despace-protocol on LinkedIn right now.
Thank you for your time — do you have any closing remarks?
I’d want to use this time to express my gratitude to all of my crypto fans, and DeSpace is a project to keep an eye on. They’ll appreciate what we’ll do with DeSpace if they liked what we did with Lead Wallet. And a huge thank you to you (insert your name here) for taking part in this interview. It was a great joy to respond to your queries.
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