Decentralized finance is more pro-people! Blockchain startup Pelith creates integrated services, one-click loaning with Ethereum.
【Published by: Meet | Editor: Wu Xin-Yu | Translator: Statecraft 】
Blockchain startup Pelith is a young team with an average age of fewer than 24 years. The founder, Chen Ping, tapped the blockchain community from his student days and saw the development potential of the blockchain. He decided to apply the blockchain through entrepreneurship technology.
Extending the use of blockchain technology in multiple applications, Pelith was rewritten from the name of the pelican. The LOGO uses a pelican-like Pokémon character. The Pelican has a variety of baby balls in his mouth and has strong fire and water spray skills. Expectations of team and application of blockchain technology. Gathering diverse talents and creating influence is the goal of the Pelith team. Since their establishment in August 2018, they have continuously developed more than 12 self-operating products.
Decentralized loaning platform, one-click completion of required services
The purpose of Pelith’s product development is to help users get closer to the blockchain or application of practical blockchain. The team used to create a blockchain technology sharing platform, strategy games, wallet hosting, and decentralized forums. This year, the team focused on developing the financial portal “EasyDAI”.
EasyDAI is mainly designed for ethnic groups who have Ethereum and have a borrowing demand for cryptocurrency, but it is difficult to use due to the complicated process. Under normal circumstances, users go through three steps to complete the loan: first, buy Ether from the exchange in Taiwanese currency; convert Ether into a stable currency DAI with almost the same exchange rate as the US dollar; Then deposit the tokens to the lending platform Compund to earn interest.
In the process of earning interest through virtual currency deposits, users need to interface with two to three different services, which are complicated and have high learning thresholds. As a result, those who want to try to use blockchain-related financial services are discouraged and therefore give up using blockchain. In order to make the blockchain more accessible, EasyDAI integrates all lending processes after purchasing Ethereum. As long as customers open EasyDAI in their wallet, they can follow the instructions to complete virtual currency loaning in one click.
In terms of the number of users, EasyDAI has 3,000–4000 people, of which there are about 100 paid addresses, but it is still not the company’s main source of revenue. Pepin founder Chen Ping stated, “EasyDAI is an initial attempted product, and the native DApp (Decentralized Application) will be developed in the future.”
Writing “above the foundation” content to fill the gap in blockchain learning resources
While developing the product, the Pelith team wrote a technical article on the blockchain in Medium, the main content of which focused on the “base” blockchain knowledge. Lai Yan-Ting, product manager of Pelith said:
“Currently, the Chinese learning resources of the blockchain show a double-peak situation. There are many things about the introduction of blockchain and Ethereum. You can also find in-depth things like zero-knowledge proof, Ethereum virtual machine. “
In order to fill the gap between the two peaks, Pelith at the beginning of the article recommended that readers search for keywords such as” blockchain “and” Ethereum “before reading further information.
Focus on financial applications and plan to raise funds externally
In addition to self-operated products and content management, Pelith provides corporate blockchain consulting, technical support and education and training services in the form of receiving cases. Under the situation that the revenue of self-operated products is not stable, it will create 80% of the company’s income source. In the future, the plan will increase the proportion of self-operating revenue and raise funds externally, and continue to focus on the financial applications of the blockchain.
Questions and Answers
Q: The creative source of the service is because of what happened?
The mining and ICO boom in 2016–2017, we did not directly participate in it to earn fast money but saw the prospect of the nature of blockchain technology. Therefore, we decided to study the development of blockchain technology and become a “technical arms dealer” that provides blockchain technology.
Q: What value do you want to provide in this society? What kind of problems do you want to solve?
It is hoped that through professional technical strength and deep insight into the industry, many tools for optimizing the user experience of the blockchain or inspiring blockchain applications will be developed so that more people can correctly understand and use the blockchain.
Q: What is the current profit model of the service?
1.Project development/consultant income.
2.Product self-operating income.
Team Information
Company Name: Pelith Inc.
Established: 2018/7/23
Product name: EasyDAI
Online time: 2019/10/18
Team size: 9
■ Source:Meet
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