How to Bring Forth Global DeFi Adoption By the Masses: An Interview With Deximum Founder Janis Balodis We talked to Balodis, an entrepreneur, marketer, and business consultant who recently entered the crypto business and immediately started up with an ambitious goal

The cryptocurrency and blockchain market has become so diverse that it simply cannot be characterized unambiguously.

Many projects are revolutionizing their niche and entire global industries, while many are focused only on short-term earnings. However, behind each project there are people, and quite often, it is on these people that the future and reputation of not only the project, but also the crypto business depend as a whole.

We managed to talk with Janis Balodis, an entrepreneur, marketer, and business consultant who recently entered the crypto business and immediately started up with an ambitious goal - to make decentralized trading of crypto assets simple and understandable for every person.

We believe that many people are already familiar with Mr Jains Balodis because, over the many years of his professional career, he managed to be noticed in completely different areas and have proven himself well quite everywhere. But for those who are hearing about him for the first time, here is some more information about him that he gave us in an exclusive interview with him.

Janis is always pleased to share his experience and knowledge, tell his story, which can help the listeners make an important decision, learn something new, or simply spend time doing something interesting.
Janis Balodis was mainly engaged in management, entrepreneurship, and marketing, but now he is developing a blockchain project. In addition, he has a penchant for creativity, which helped him realize himself as a designer as well. His career path was interesting and varied. He started working at a young age all the while completing his education in economics. During his 35 years of activity, he managed to discover the makings of a business analyst, manager, and designer. The latter gave him a really non-obvious advantage: when you understand how to beautifully, concisely, and clearly make a visual style and form, you end up having exactly the same attitude towards business. He is grateful for this experience that makes it now easy for him to provide simple and understandable products for users. He would call it "UI / UX" in business.

What are the achievements of Janis in terms of professional activity?

He said that he likes taking part in bigger-scale projects. Something that can positively affect the lives of as many people as possible. That is why he often linked his life with those areas of business where people and relationships are the basis. He has helped in developing projects in the field of international trade and helped them become leaders in East Africa. He also worked as a member of the Latvian Chamber of Commerce, assisted in creating brands, and rise to the top of many startups, IT companies.

He said that he doesn't think that he can now sum up the results, sit on a sofa and enjoy what he has accomplished until the end of his days, as per him he has seen a lot of things around that could be improved, created, changed. This is how it goes for him: "Do what you like that could also benefit someone else. If you manage to change the life of at least one person for the better, this is already an achievement. It is already a huge step as well as an example and an inspiration to continue."

What is Deximum ?

He told us that his main focus is on helping to create a new blockchain project. You should probably know it already - it is Deximum. It so happened that he has joined a very interesting team of programmers who are creating a decentralized platform on the blockchain. This platform provides convenient tools for the crypto community, traders, and investors. Through this project he is associated with now, he wants to popularize as much as possible the new possibilities of decentralized blockchain solutions to the wider masses and he wants to help people understand how to get an additional source of income through these solutions.

How did it happen that Janis suddenly switched from Marketing and Management to Blockchain?

Janis told us that he can't say it was sudden. For the past 15 years, he has been actively helping brands develop, he said that he is working as a consultant, and coaching many companies. Of course, when you have such a job, you have to "be up to date" as they say, he added. The advent of bitcoin did not go unnoticed for him. Of course, he was not among the first to mine cryptocurrency on laptops, who then became millionaires a few years later. He said he just saw that something new appeared in the world, something that more and more people started talking about every year.

He explained that in 2016, cryptocurrencies acquired a rather negative reputation due to the ICO boom. A lot of people who knew nothing about finance or investment carried all their money to the first crypto startups they saw. But this is not a magic chest that doubles the value of everything you own. Many lost very large sums in 2017 and were left with a negative impression. He said that he then started to study everything related to blockchain in 2018. It coincided ever fortunately that this was the year of the emergence of projects such as "decentralized finance". Of course, it was a very small niche, almost invisible in terms of both volumes or news, but in general, the market was calm after the loud end of the crypto rally. Therefore, he managed to get to know the subject at hand better. Then everyone remembers what happened: 2020, DeFi became the rocket engine for the entire crypto space. By that time, he already understood how this crypto space functions, he saw the obvious advantages, and understood how to do it even better way, from the user's point of view. He told us that he is not a developer and technical details are not what he feel like an expert at.

What are the advantages of DEFI?

If it's concerning DeFi, then Janis finds that this is an amazing tool that is at the intersection of both classic finance and cryptocurrencies and he explained when bitcoin appeared, it could be accepted, it could be sent, and ... that's all. Then, Ethereum gave us smart contracts and the ability to create decentralized applications. DeFi however, took Ethereum and Ethereum-like blockchains, for the most part, put efforts back on track, and created some of the more traditional blockchain financial services in a fully decentralized format. In other terms, it made it so that there are no intermediaries or central "hub" - any possible hierarchies that control the processes. These are p2p lending, interest-bearing deposits, and decentralized exchanges whose working was very beautifully explained to us by Janis.

Deximum project is exactly a platform for decentralized trading?

He told us that he was involved in the trade and international markets a lot. It is always deals and relationships. He said how many intermediaries, financial losses, and bureaucracy were involved in this. Of course, for such a huge mechanism, it's only normal and necessary that there must be order everywhere and plenty of people "taking control"; but why not trade cryptocurrency without brokers all the while including great benefits for the community?

More about DEX so that Blockchain newbies can understand more

Janis briefly told us that everyone probably understands how classic, centralized exchanges work. Brokers write orders from buyers and sellers into the order book, then execute them when a compromise is reached between the parties and take a percentage of the transaction for their services. Traders' money is in the accounts of the exchange, which allows immediately upon completion of the transaction to fulfill the contract with the buyer for the supply of the asset, and the seller to credit the funds. The price of any asset on the exchange is controlled by the balance between supply and demand. Market makers are involved in maintaining the health of the market.

This leads to the following problems: Commissions from each transaction, and sometimes they reach 1% or higher, go to the broker, and the funds of exchange traders can be stolen if the protection is successfully bypassed. Price manipulation is elementary since only supply and demand are at stake.

Decentralized exchanges work differently. There is no broker, and trades are executed by the automatic market making protocol. These are smart contracts that power the exchange. The price is determined by the elementary formula price = x * y. Each trading pair present on such an exchange represents two pools: the underlying asset and the quoted one. When a user buys a token in a pair, for example, ETH, he takes the required token from the pool, adding ETH to the opposite pool at the current exchange rate. Thus, the ratio of TOKEN / ETH tokens becomes less, ETH is more, and the price of the token rises. Selling works the opposite way.

And what is equally important, is that the trader's money remains in his wallet. Even the confirmation of the exchange transaction comes to the wallet. In other terms, there is no point in hacking such an exchange, because there is "no money", in the classical sense. Janis made sure that we completly understand this principal on which mostly all the DEX's function.

Where do the two "pools" come from for each trading pair?

He said that this is the key point of DEX. Liquidity, which is: "the ability of an asset to be quickly exchanged for another asset", is not provided by brokers, but by the community. It is the community that adds tokens to the liquidity pool together with the quoted asset.

And to get ahead of your question "why should they invest their funds in providing liquidity to some tokens," as an answer he said that, you should know that they receive a commission and other profits for this. For each transaction in which the funds of the liquidity provider were used, he receives a reward. There is no broker here, the work of DEX is provided by the users themselves, how much money they have doesn't even matter. Janis added that this could be considered as it is another plus for decentralization.

Does Deximum work on the same principle?

Janis explained that Deximum is the name of the company, the decentralized exchange we do is called DexiSwap. And yes he added, in general, it works like the classic DEX, but with some significant benefits for its users.

Like many other exchanges, he told us that Deximum has its own DSTo cryptocurrency token, which will provide governance rights to its holders. This means that the community of Deximum will directly influence the further direction of the exchange development, as well as receive several additional bonuses.

What are additional bonuses that Deximum will offer in the market?

He told us that he has already spoken about the platform's management rights. In addition, the presence of DSTo on the wallet guarantees cashback from commissions, cross-platform use in the DeFi ecosystem, and most importantly, the DSTo token has a deflationary nature. That is, instead of "throwing" new tokens onto the market and their further inflation, Deximum aims at creating an ecosystem where there will be a shortage of coins.

Janis explained that firstly, the emission of new tokens occurs only when the funds are sent to the pool by liquidity providers. That means that real value already lies behind them, these are not just billions of speculative dummies.

Secondly, Deximum's team will buy back free tokens from the market. At first, they need them to create DSTo liquidity on other decentralized exchanges, and in the future, Deximum plans to burn all purchased tokens from the market in order to prevent an excessive supply of coins.

Why is there so much emphasis on the token?

Deximum's token is our community, as Janis told us. He further explained that especially liquidity providers, because in return for the provided assets on other exchanges, there is little that can be immediately obtained, so they will issue and credit our own token. Besides, Deximum is ready to buy the tookens by themselves, and then once a month burn the remains, creating a deficit and provoking a constant rise in prices.

Janis is expecting DSTo to rise from $ 0.15 to $ 0.5 in the near future, and the reason for this is not speculation and hype, but mathematics. This is how numbers work, it shouldn't come as a surprise if you listened to what he said earlier.

How else will liquidity providers earn money and What is so special about DexiSwap?

Liquidity providers will earn via commissions. Everyone who contributes assets to the pool deserves a reward for their use by other users. They want to follow the steps of Uniswap, the most popular DEX at the moment, so we are developing a very successful strategy: first-comers get more. The liquidity providers will receive all commissions from transactions - this is 0.2%. We are sure that this will attract a lot of investors. Of course, over time, they will slightly adjust the balance of the distribution of commissions, so that the exchange eventually also earns on commissions from transactions. "This will allow them to invest in its further development, '' he added.

But still, the DSTo token is a much larger part of the income, even for liquidity providers.

On a side note, yes, there is another cool feature that they added. They launched the Referral Airdrop program, which provides even more bonuses for providers. There are 35 levels, divided by the amount of blocked liquidity by the user. Everyone will receive bonuses, and their annualized amount will be from $ 15 to $ 100,000,000.

How high does Deximum aim?

Janis told us that the aim of Deximum is very high. They are confident that the chosen approach will ensure that we reach the TOP-3 among DEX at least. And as a maximum, they are ready to compete with Uniswap.

But this is not the main goal of Deximum, it is rather a consequence and a visible result. Their main task is to provide a truly convenient, profitable, and understandable platform for decentralized trading of crypto assets for everyone, regardless of their previous experience and qualifications. They will show you how easy it is, and Janis hopes that all his experience and the experience of his colleagues will help Deximum to bring their plans to life.

We thank Janis for the very interesting conversation, from which one could not only learn a lot but also see new opportunities for financial growth! We thank him, and we wish he'll achieve and surpass all the most ambitious goals you have for the development of Deximum! Hopefully, we'll see him again when Deximum exchange sets new market trends!