Interview with Obasi Francis, Founder of DeSpace Protocol
Hi Obasi Francis, thanks for taking the time to join us for this interview to educate our community on the DeSpace Protocol. Can you give us a brief introduction to you? What is your story, dating back as far as you wish?
Hi, I’m Obasi Francis, a Nigerian, and a graduate of Political Economy at the University of Benin. I’m the Founder and CEO of Lead Wallet and DeSpace Protocol.
I’ve been in the crypto space since 2016 and during these periods I’ve seen projects come and go either as a result of a bad business model or as a result poor management. I rose from content writing to moderating different projects’ communities, business developers, and becoming a blockchain entrepreneur. I founded Lead Wallet in 2019, ever since I and the Lead Wallet have built the startup from a mere $350k company capitalization to over $5m within two years with so much upside potential.
DeSpace Protocol is my most recent adventure and I believe the opportunity it affords is limitless especially to DeFi and NFT lovers.
Why did you get involved in the cryptocurrency industry, and where do you think the industry will be in 5–10 years?
The problem of under-employment and unemployment in my country was primarily what drove me to search for alternative economic opportunities beyond the confines of Nigeria.
Well, in the next 5–10 years I see the crypto industry grow by 50 times more from its current size. This obvious growth will be reflected in the areas of user acquisition, new business model, more practical and efficient DeFi, and NFT techs which will aid the drive towards crypto mass adoption.
That’s amazing. Now can you give us a short introduction to DeSpace Protocol and its history?
Sure! Why not. DeSpace Ecosystem is an incorporated entity in the UK. DeSpace Ecosystem Limited is the legal entity through which we are building and managing DeSpace Protocol and DeChain blockchain projects. DeSpace protocol was first conceived in 2017, however, due to the bear market that hit the space in 2018, we decided to pause on the idea and wait for the right time to relaunch. And this we have done in 2021 because we feel this is the right time for NFTs and DeFi products to drive the much-needed crypto mass adoption.
In a nutshell, we are building a decentralized DeFi and NFT Protocol (DeSpace) on top a layer two blockchain solution — Dechain. DeChain is a multi-chain layer two blockchain solution that enabled us to build a DeFi and NFT aggregator solution whereby users of the platforms are able to mine Des coin while they transact on their most preferred DeFi and NFT solution right from DeSpace website. In addition, DeSpace will have its own native Decentralized exchange (DeSwap) that supports spot, margin, futures, and AMM so that all kinds of crypto traders and DEX users can benefit from the multiplicity of functions. The protocol will also have its native decentralized lending and stable coin generating platform that allow crypto users to borrow, and supply liquidity while they mine DES in the process.
I believe DeSpace will be that one-stop solution for crypto lovers, enthusiasts, and noobs for DeFi and NFT use cases
Could you please give us a rundown of the most important things about DeSpace Protocol as well?
DeSpace Protocol is unique because it’s the first most comprehensive DeFi and NFT aggregator protocol that allows users to mine Des coin as they transact on their preferred DeFi and NFT platforms. As an aggregator protocol, DeSpace is built on a proprietary layer two blockchain solution (DeChain) that enables interoperability, multi-chain transactions, and compensation scheme delivered through mining and staking rewards. In addition, DeSpace has its native Dex, lending, and NFT marketplace with a variety of features that make it exciting for users to earn passively. Prior to our TGE event, we will launch our first rare and gamified NFT cards that will allow users to claim our first set of pre-mainnet NFTs which can be used to mine Des coin, or farm more NFT cards.
So how did you get involved with DeSpace Protocol, and why? Early on, did you see an opportunity for DeSpace Protocol to fill a void in the market?
Long-term crypto friend — Isaac shared the idea of DeSpace with me sometime last year, and I when I digest the information about DeSpace available at the time I was excited and immediately saw a void in the market that needed filling. So I told him I wanted to be part of the project as the idea of DeSpace and DeChain were novel and my experience in the crypto space will benefit the project a lot.
It’s obvious that the DeFi market has continued to expose the world to unending opportunities and it’s sometimes very difficult for people to catch up with the growing pace of DeFi and NFT products. This is precisely the problem DeSpace will try to solve by providing an aggregator platform that will help make it easier for users to navigate and use DeFi and NFT solutions.
What has been the biggest challenges for you and DeSpace Protocol since you started the project?
The biggest challenge has been how to condense all the ideas we have about DeSpace into an excellent userable solution. I’m glad that we are already making progress in this direction and in the next couple of months, we will launch the first sets of DeSpace solutions.
Understood. Now what has been your greatest achievement thus far, and what has been the biggest failure or setback personally or in the history of theDeSpace Protocol?
We are pretty new, and other than what I described above, we’ve not had any serious challenges yet. And I’m confident there won’t be any failures because we have an experienced team built to deliver good tech.
Tell us about your other team members. Who’re the people behind the screens?
We have a combined 20–25 years of combined experience in the fintech and crypto space. Some of which are from the traditional fintech background and the rest are vastly experienced in all things crypto and blockchain.
What is the next step for DeSpace Protocol in the next 1–2 years?
Build a formidable user-friendly DeFi and NFT protocol that allows users to mine Des passively.
You are also the CEO of Lead Wallet and Business dev. manager of DAO Maker. Could you give us a quick rundown of these two projects as well?
Yeah sure. Lead Wallet is a decentralized multi-crypto wallet application that allows users to easily and securely store, spend, stake, and swap cryptocurrencies. The wallet is also efficient for navigating the DeFi and NFT world as it supports an efficient web3 browser needed to navigate the decentralized world. The wallet app is currently in beta version for Android users and mainnet app version which supports both iOS and Android is scheduled to go live in the coming month.
DAO Maker on the other hand is a company I love so much as they afford entrepreneurs the opportunity to raise funds for their startups via several unique fundraising structures such as the Strong Holders Offering (SHO), Dynamic Coin Offering (DYCO); Seed offering, and host of other power-packed solutions geared towards adding value to the entire crypto-verse. DAO Maker also has a social mining program that allows active and knowledgeable crypto persons to earn crypto by completing social tasks on the selected social media platforms. In a nutshell, DAO Maker is a VC startup reimagined for the benefit of retail investors. And with DAO’s business model, it is able to create growth technologies and funding frameworks for startups, while simultaneously reducing investment risks for investors.
If people would like to follow DeSpace Protocol on social media, visit your website or read your important documents like your white paper, what are the links they need to visit? Please list them below.
We are currently on Twitter as @DeSpaceDeFi and on LinkedIn via — https://www.linkedin.com/company/despace-protocol.
Thank you for your time — any final words?
I just want to use this opportunity to say a very big thank you to all of my crypto supporters out there, and DeSpace is a project to watch out for. If they like what we did with Lead Wallet, they will love what we will do with DeSpace. And a very big thank you to you (please insert your name) for this interview. It was really a pleasure answering your questions.
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