The methods of fundraising in the blockchain and crypto community are quickly evolving, especially after the ICO (Initial Coin Offering) bubble that rattled the industry’s players in 2017. To get the latest insights from a fundraising expert, ABR spoke to Vadim Zolotokrylin, Co-founder and CEO of Holdex, a leading decentralized token distribution and user acquisition platform that empowers startups with the technology and network to go through a full financing cycle, from concept stage to exit. Zolotokrylin talked about powering growth in the token era, the firm’s partnerships with Blockpass and Infinito Wallet, and developments in the areas of STOs (Security Token Offerings) and IEOs (Initial Exchange Offerings).
Asia Blockchain Review: How does Holdex’s services power growth for companies in the token era?
Vadim Zolotokrylin: It is pretty simple! We multiply your crypto user base and distribute your tokens in an affordable, hyper-targeted, and effortless way.
ABR: Blockpass CEO Adam Vaziri said, “Partnering with Holdex to create this premium platform means that we can offer seamless and compliant onboarding while ensuring that our partners have the best possible experience in setting up their token events.” What makes Holdex stand out from other similar players in the market?
VZ: Holdex’s main focus is on creating a long-lasting and beneficial relationship between dApps (decentralized applications) and their future users and supporters. Meaning, we are not about “quick buy and sell” or the speculative aspects of cryptocurrency. Most of the players on the market are focusing on making a quick buck, and we are not!
ABR: Holdex provides a one-stop service, from token issuance to community outreach. In your opinion, how has the current ICO market, which has significantly cooled off after the ICO bubble of 2017, affected your business?
VZ: Good question.
The ICO market didn’t go anywhere. It just kept changing its name (ICO, IDO, IEO, STO) and continues to evolve into more organized, categorized, and regulated sub-markets. If we are talking about the ICO category, then yes, it is true that it has cooled down, but in a good way. In my opinion, crypto users are learning from their mistakes and are taking less impulsive and ill-considered decisions.
As for our business, we keep moving, learning, and evolving together with the market.
ABR: As a decentralized fundraising platform provider, can you share with us your thoughts on the landscape for STOs and IEOs?
VZ: In my opinion, IEO is just another method to distribute your tokens via exchanges. Technically, it can be an STO that is done via IEO, meaning a security token distributed through an initial offering on an exchange.
STO is a classification of a token offering, where tokens represent securities and are regulated as any other security product on the market. Another well-known classification is a UTO (Utility Token Offering).
ABR: Can you tell us about your partnership with Totle? How do you utilize data available through the Totle API to improve your services?
VZ: Totle is a great dApp and a great group of professionals in the tech space. Their product solves a real problem, which is accessing liquidity in a decentralized manner – the way it should be, in my opinion. At Holdex, we help our customers and users to tap into decentralized liquidity, and Totle is a great partner here.
ABR: Because of the volatility of token prices and price gaps in exchanges or across different countries, some traders conduct arbitrage dealings. Do you think that in the future, crypto prices will be more balanced out like fiat currency in order to become a reliable payment settlement tool?
VZ: For sure! We can already see a boom of stablecoins backed by fiat currency or other stable assets (like gold, for example).
ABR: One of your partners, Agora, piloted blockchain voting in a national government vote during Sierra Leone’s presidential election in 2018. For Holdex, what prospects do you see for utility tokens, especially following the events of 2017? Do you see any changes in the landscape for utility tokens?
VZ: When I think about the future, I see myself accessing cinema or transportation services with a utility token. As for the near future, let’s say 2-3 years, I believe we will see more and more tech companies implementing utility tokens to create a sustainable and fair ecosystem for value exchange between businesses, customers, and communities.
ABR: During an interview at Innovfest Unbound 2018, you mentioned “innovation which solves the problem for many people, which goes beyond the commercial motivation.” Currently, one of the issues that the entire blockchain industry is facing is the lack of actual use cases or practical applications. Do you think blockchain plays a bigger role as infrastructure than as commercial products?
VZ: Absolutely. Just look, for example, at Blockpass. Blockpass provides a faster, safer, and easier way to manage your identity and access regulated industries. Its users always stay in control of their identities, thanks to the blockchain.
Another good example is Liquidstar. This project is aligned with one of the United Nations’ Sustainable Development Goals – to provide access to affordable and clean energy by replacing liquid fuel with battery-powered Mobile Virtual Grids. It is the future of electricity for 1.1 billion people who live today without access to electricity.
Personally, I can’t imagine my life without electricity. That’d be like going back to Pushkin’s time.
ABR: Lastly, would you tell us a bit about Holdex’s partnership with Infinito Wallet? What is the potential for this project, and what are its next steps?
VZ: Infinito Wallet is a great choice for crypto users to manage their wallets. Holdex and Infinito Wallet share the same vision of the future and the use of blockchain technology.
At Holdex, we work in a decentralized manner, and we do not store users’ private keys. For that reason, Holdex had been looking for a well-established wallet provider, and that was how we found Infinito. We recommend Infinito Wallet as a mobile wallet for iOS and Android users.
Besides providing wallet services to our users, Infinito is a great partner to work towards building an ecosystem that strives to provide the best user experience to current crypto users and newcomers alike.
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