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Yesterday, we announced our seed round, which is major milestone in our journey to bring defi to the masses. Today, we would like to give thanks of gratitude to the ethereum, and in particular the defi community, whose support has been essentially to getting us to this point.
A few years ago, we were 2 teenagers from India, with no network or connections in the ecosystem, only a deep interest in the potential of financial markets to change lives, and the possibility of using decentralized technology to change the way finance works.
Looking for a way to enter the space, we triangulated on improving the user experience for using decentralized financial services, since that was the main area that needed improving.
With that purpose in mind, we entered the excellent @ETHIndiaco hackathon (organized by @ETHGLobal). We developed a cool interface on top of MakerDAO and were lucky enough to win it, which provided us the platform to showcase our work to the wider community.
From there, we were kindly invited by @KyberNetwork to Singapore, where we met @loi_luu and the rest of the amazing team. They extended to us an innovation grant to build whatever service we felt was needed in the space. That grant, essentially, was the beginning of InstaDApp.
Starting from there, we continued exploring our core purpose of simplifying DeFi, starting with clean, simple interfaces for Compound and Maker. We eventually moved on to building our own contracts to streamline complex transactions, and creating a smart wallet layer.
At every step of the way, the Ethereum community has been incredibly supportive, particularly those in the defi space. It is hard to imagine a community that would be so open to new ideas, particularly from 2 unknown Indian kids. 😅
Their encouragement and validation have been critical for us, particularly when things did not work as well at the start. We would also like to do a shoutout to @RyanSAdams @sassal0x @econoar @TrustlessState amongst others whose support has been extremely helpful to us.
After many rounds of iteration, testing, and feedback from the community, we launched Protocol Bridge, which facilitated debt swapping between Maker and Compound. This was extremely well received by the community and took us to the traction we have today.
We have also been direct beneficiaries of Defi. We have been using DeFi for almost our entire formative lives, including accepting grants, payrolls and financing our expenses. In fact, we financed our NYC blockchain trip by taking a loan on Maker CDP (who wants to sell ETH? LOL).
In summary, we are grateful to the Ethereum community in every way. From the amazing support rendered in every part of the way, to the innovation that allowed us to sustain ourselves, to the way we are able to openly collaborate with protocols developed all over the world.
We look forward to working with the rest of the Ethereum ecosystem to simplify DeFi, and make it even more accessible to the masses!
This space is awesome.
This space is awesome.
Inspired to put this in a blog post: reddit.com/r/ethereum/com…
