A few years ago, the DeFi boom took place, ushering in a new era of blockchain-based investments. During that time, we saw all sorts of developments in token swapping, lotteries, and so on which centred around different DeFi platforms. And there were certainly many of these platforms and just as many protocols.
While this meant that investors were spoiled for choice for where and how to invest their money, it also caused a bit of confusion. Those who wanted to invest had to painstakingly decide where to put their money and even after the investments, had to track their performance across many different platforms.
And this is exactly the problem that Defiolio is working to solve. Defiolio is a platform that allows for the tracking of multiple DeFi projects from a single dedicated dashboard. This dashboard shows DeFi investments on different protocols and up to 20 chains at a glance. As such, rather than a user visiting the multiple projects individually to determine how well they are doing, all of this can be done at once.
Ahead of Defiolio’s expansion to include new features like NFTs we speak to Julian Wells, CEO of Defiolio.
Why was it so important that Defiolio allow for tracking across multiple chains?
If you look at this space, there are several aspects that are missing and several people trying to enter this space. But most are hesitant because they don’t have a way to track their assets, or they are completely overwhelmed with managing all their investments, which essentially turn into a full-time job. There are other tools out there that do perform tracking services; however, they either take too long to integrate new projects or they collect data without users knowing. Since some are collecting data and selling it, what is the purpose or use of being in decentralized if data collected is centralized? Most of us on the Defiolio team are or were investors in the DeFi space, and the biggest issue was managing everything in one location and speeding up management. Which was what we aimed to solve, however, now the whole project has evolved, and we are aiming to become the next face of DeFi for both new and veteran users alike.
How does your new NFT program work? What is the benefit for NFT holders?
Our new NFT program gives plenty of benefits and as we grow, we plan to expand on those benefits. A few of the benefits are but not limited to lifetime access to our hub, priority project onboarding, 25% profit-sharing, Private RPC points which are only available for NFT holders, Monthly giveaway only for NFT holders, and a few other things that are in discussion but not disclosed just yet.
Moreover, if users are looking to flip our NFTs to make a profit that could also be a smart move, especially since there will only be 12k NFTs total that will get the benefits mentioned above. As far as we are aware, these are the first cross-chain NFTs that are available.
Honestly, once things settle down, we see a strong adoption by corporations and other giants and see a massive boom in blockchain technology. Think about it, transparency is key in any business and if that transparency is legalized and adopted across considerable companies and corporations, foul play will be reduced tenfold because now everyone can see what every company is spending and making. So many new ideas are yet to be discovered and at this point we are just at the start of the movement. If you give it a few more years based on what technology has done in the last 20 years we are about to enter a new era in the next 5-10 years blockchain technology will be in the center of it. We will do and see things most of us as kids dreamed about.
What informed Defiolio’s decision to launch a wallet?
One of the major reasons we decided on launching a wallet in this space was because of how complicated most of these wallets are and cumbersome it is to set a wallet up. If you think about it, most of the wallets in this space are skins of the same primary wallet service (not naming a product in specific) offering the same features and functions not may offer different functionality. So, our goal with Olio Wallet is to be the outlier, a completely different wallet that not only encompasses an easy way to find what you hold as investments but track them directly from the app. Moreover find a better way to add discover tokens, networks, RPCs, and even new projects (with a full rating system that is influenced by users themselves). However, the twist between us and other wallets will be there will be a free version that will be limited heavily and a paid version that is a subscription model which will also provide access to the Defiolio Hub both on the web and by doing so, access to the wallet app. If a user holds an NFT, they will automatically have access to the feature and most likely be part of our beta testing group.
Tell us a bit more about your incoming wallet. Besides the wallet and NFTs, what else does Defiolio have in store?
There are lots of things that are happening and being built out. Most of which we do not want to share mainly because of how the space is we do not want others to jump ahead and steal any ideas giving us more competition. But to say the least look at our roadmap we have thus far and definitely expect close to double that for our upcoming features, most of which will be influenced and governed by our users. But one thing I would like to say is we are not like other projects who raise funds then start the project we have been developing day in and day out making this somewhat presentable before we even brought it to the public and from what we can tell everyone that has seen this idea loves it and everything that is coming up will be done in the same manner. Always under promise and overdeliver!