Victor Tran sets goal for KyberSwap to be #1 privacy focused exchange while discussing the future of DeFi at Token2049.
Victor Tran (middle) onstage at Token2049, Singapore
SINGAPORE, Sep 29 — At Token2049 with over 7000 industry professionals, institutional investors and regulators attending, KyberSwap CEO Victor Tran, predicted onstage that Decentralized Finance (DeFi) will overtake TradFi in 10 years. On top of that, KyberSwap will also be the most used Decentralized Exchanges (DEX) because of its innate ability to provide the best rates in all of DeFi.
Speaking on the panel Decentralized Exchanges: The Road Ahead along with 1inch Network and MANTRA Co-Founders, Victor Tran declared that consumers in the future will value privacy and control, especially considering developments around the world today.
“Today, users are still exposing their data as people can see what your wallets hold and what transactions you make at what prices. Users still participate in DeFi as it is a good option to earn while having custody of your own assets. The next step naturally will be privacy in order to protect their privacy. Together with that, major use cases like insurance will be increasing in a major way in order to provide more protection to users,” said Victor.
With privacy building through the bear market, improving security measures to users is a priority for the industry.
“It is important to provide stability to users as they are still dealing with the massive volatility and blowout in the markets with the downturn as well as several security issues like hacks in the market with lots of losses. In the short term, KyberSwap is focusing on providing stable DeFi earning potential all throughout the bear market at least for the next one and a half years with major liquidity mining campaigns with our chain partners and project partners, like Polygon Chain, Avalanche Network, Lido Finance and QiDao,” Victor elaborated.
As DeFi expands, use cases builds and leaders in decentralization who continually increases its ecosystem integration and UI/UX, such as KyberSwap, will go on to build the Defi space to the extent where using a decentralized exchange and services will be as easy as using a digital banking app, or possibly even easier. This increased ease of use will attract a new generation of users and the unbanked, leading to more people choosing to onboard with crypto, especially the large and increasingly tech-savvy demographics of the world such as Asia, Latin America, Africa and so on. Considering these key factors, Victor believes DeFi will ‘flip’ Traditional Finance (TradFi) as a dominant force in the financial world in 10 years.
Victor adds on that institutions will increasingly participate in DeFi as well. “Institutions value security, infrastructure and privacy protection in order to support their needs, which are completely different from the retail users. We will unlock many infrastructure layers, application layers and privacy focused features soon in DeFi which will also bring in large amounts of institutional funds.”
As a DEX aggregator, KyberSwap currently provides users the best swap rates on 12 chains along with the mission to make DeFi easy, accessible, safe and rewarding for all users around the world. “Ultimately, at the end of the day it is about making user’s lives easier. KyberSwap’s focus is 100% about maximising users’ benefits and safety. What we see with Decentralized Finance is just starting and it will grow exponentially. KyberSwap sees a tipping point in the next decade, and we are working endlessly to be an essential pillar of that future,” said Victor, closing his remarks.