Welcome to the New to Crypto Podcast designed to guide you through the crypto landscape with pinpoint accuracy created for the new and intermediate crypto investor. Join your host Crypto Travels Michael as he takes you through the different facets of getting started and succeeding in your crypto journey. New to crypto podcast brings you new episodes daily Monday through Friday with surprise bonus episodes sometimes on the weekend. Let me ask you, are you new to crypto and don’t know where to start? Are you more experienced but have questions? Then you’re in the right place. This podcast is designed for you coming at you from the Trading Center and the Lifestyle Design Studio. Here’s your host Crypto Travels Michael.
Brave wallet is the first secure crypto wallet built natively in a web three crypto browser, no extension required. You can store, manage and grow your portfolio, get NFT’s and multi chain support, download the brave privacy browser at brave.com/newtocrypto and click on the wallet icon to get started.
Today I’m excited to share with you a new decentralized ecosystem and aggregator protocol that automates the arbitrage between current crypto pairs and their futures. I have Gehan, the project’s founder here and Mo the lead developer and I’m very interested to dive deeper on this one with you guys. And I have the guys from precog finance. Gentlemen welcome to the show. It’s a pleasure to have you here.
Michael, thanks so much for having us. I’m super excited to be able to present to you our exciting project today.
Awesome. Welcome. Before we dive in, can you share with our listeners just a little bit about yourself?
Yeah, fantastic. My name is Gehan Rajapakse and I’m the CEO of Precog Finance.
My name is Mohamed Saleh , I’m the lead developer, and development’s lead on Precog Finance.
And guys, can you share just an introduction with our listeners as to what Precog Finance is?
Yeah, absolutely. So I mean, in a nutshell, for the technical savvy people out there, it’s a futures ecosystem. And it’s a basis to trade aggregators. So for the non technical people, what we’ve developed is an algorithm that trades on behalf of our users, we’ve basically just typed strategies for more streets, and we’re putting onto blockchain and make it accessible for everybody to benefit from the trades 20/7, 7 days a week, 24 hours a day, even while you’re sleeping.
Wow. So I’m sure everybody’s asking like, how does it work then? Is there like an overview that you can share?
Yes. So we have, as he had mentioned, we have Sentient, it is the first product we’re gonna roll out soon. Sentient basically is… Or let’s say like this: precog started with r&d, unlike many other DeFi projects. We started with r&d, a lot of resources, a lot of talents in financial engineering, on machine learning, artificial intelligence, algorithms, and crypto trading as well. We combined all these skills, and we came up with this trading environment that is backed by AI that learns a lot of market data from the past. And the main function of this trading environment is to apply that I mark a mark in market strategies and trading strategies based on the market conditions. And it’s all AI, it’s all automated. So we are not about we are not like other DeFi protocols that APY, we are different. We are basically a trading environment that is exposed to the DeFi blockchain users as DeFi protocol. It’s basically a DeFi, a trading strategies protocol. It’s all backed by AI. And there is a team behind this product that keeps optimizing to get the highest team in the DeFi ecosystem. So imagine this, this kind of product, you’re going to find it exclusive for Wall Street, institutions and companies. But what we are doing is democratizing the access to the most sophisticated products and algorithms to anyone with a wallet anywhere in the world. They can come up with a trading strategy, make a deposit, invest, and we can remove all the complexities of technical analysis of configuration. If you’re using a bot you have to configure, you have to understand the market, you have to do a lot of stuff to make profits, we do this behind the usage. And we are very transparent, we have like, profit distribution cycles, and we can show all the data to everyone on chain and reports as well. So we will act in a very transparent way, we are very decentralized in this way. And we’re gonna give access, and we’re going to get the most value out there to the end user.
Okay, thank you for sharing that Mo. Let me ask you, what is the main difference between Precog and maybe other solutions that are out there? Like, what is the principal advantage in having your solution over others? Because I’m sure that you know, our listeners, or they want to know more about what you have going on?
Yeah, that’s a great question. And it’s one that we actually started this whole project with, and how to be, you know, I guess, leading authority in this space? Well, first and foremost, Michael, I’ll just explain. For those who aren’t familiar with derivatives markets in traditional finance, it is one quadrillion dollars a year market cap. That’s a staggering number, a huge number a lot of people can’t comprehend. And that’s now gravitating into what we know as DeFi. Now, it’s actually expecting the decentralized derivatives, as we call it, to be much larger, even bigger than that traditional finance, because there’s a lot more underlying assets, they can make real products from, first and foremost, to where the infancy of this growth. So it’s actually been… it’s actually very exciting for us to be at the forefront, and the frontier of paving the future, you know what this looks like. But more importantly, like there’s been opportunities in the last 10-15 years, that a lot of people have missed out on P-growth opportunities. And this is literally the probably one of the biggest growth opportunities for people who are looking for that next opportunity, how to maximize their investment. So what we have is this environment, the beginning, and we’ve built a suite of strategies that dealers can take advantage of the market and efficiencies on behalf of the end user. So basically, we wanted to make it as easy as possible for someone to come into our ecosystem. And our whole algorithm does all the trading strategies on their behalf. So there’s one thing I guess that obviously there’s other protocols out there, there’s other aggregators out there that do similar, basic functions. But what’s underneath our hood is what makes us special. And our algorithm is spitting out a lot higher returns what we will go through a little bit more detail, but we’re seeing that testing and test runs that we’re doing almost monthly yields what other protocols are doing in yearly APY, which is huge difference for us.
Can I answer the question from a technical point of view?
So, what’s different about Precog? Let’s see, Sentient is also the economics, we designed the economics in a way to drive the value and price of Precog token up at every possible place, for example, where if you might come up to Sentient and invest, for example, $1,000 in strategy, it’s, you know, work, you’re gonna get you, as he had mentioned, a yield in a month. The other protocols, the famous protocols, and the ecosystem will give you in a year, or less than the yield in a year. And you’re gonna get it in Precog tokens, what we do, we don’t have like a backup supply and distribute the profit in the Precog tokens, we do a buyback, we use a profit that is generated from Sentient in stablecoin, and we go to the decentralized exchange, and buy back Precog tokens. So we put pressure on the buys, on the buy orders. And because of the algorithm, how it’s designed for the automated market makers, it will drive the value and price of Precog tokens. So when the customer gets the Precog token, its original value will be more than… Its price will go up automatically with the profit distribution. And one more thing, we have this nice thing about staking with every profit, we get a small percentage, and we use it for buying something called hashrate tokens market. I’m familiar with hashrate tokens. Basically it’s some it’s a share…
I have before but if you could just illustrate it, the overview for our listeners.
Yeah, so it’s like a share from a Bitcoin mining company. So when you hold these tokens, you get daily passive income in this court. What we are doing, we have a Treasury for the staking program of Precog. And with every profit distribution from Sentient we have the coins that we use to buy Hashi tokens and put it on the Treasury smart contract of the staking program. So, what we have is the staking program to become a bitcoin miner, it will get daily passive income in Bitcoin. So what we do with this daily passive income in Bitcoin, we distribute to them as rewards for the user’s mistake, a big octopus, and it increases with time like, so imagine this with every profit distribution. With time, we’re gonna be like one of the largest Bitcoin miners across the DeFi protocols. And it’s kind of DeFi-to-DeFi integration. This is the idea behind blockchain, the openness so we are the first project to implement Hashi tokens integration within the protocol. And we are the first project as well and protocol, who will distribute Bitcoin to the stickers in addition to the original token, Precog, so this is something unique and valuable for anyone who stake Precog tokens. Because Michael, you know, Bitcoin is the essence of blockchain and this industry. And people like Bitcoin, we all love Bitcoin. So it makes sense to distribute Bitcoin, in addition to Precog tokens as rewards for anyone who stays with us. So this is something unique. And this will open a door for a Dao style driven project, we can go down, but step by step, we cannot, like decentralized everything at once. We have a plan to decentralize components from the clique of the ecosystem one by one, we can go and adopt style. You know, we like the idea of being a community driven project, you know, the feedback from the community is the most important piece for any successful project. So we are community oriented, community driven, and we can give as much value as possible to the users of Precog ecosystem products.
Fantastic. Thanks for sharing and breaking that down. You mentioned your token, can you introduce your token to our listeners, the ticker, the ticker name, ticker symbol, as well, as you know, some more information about, you know, how the tokens used in conjunction with what Precog has gotten? And also, you know, as you were speaking in May, it brought the question, what chain did you decide to build Precog on, if you could share that with others.
Basically, we are an ERC 20 token with limited supply fixed, we’re going to start with Ethereum, which is layer one, and Polygon layer two. And we have a plan to expand to different chains, like the BNB chain, you know, there’s a huge volume of transactions in the user base of the BNB chain, we can expand as well to Chronos, the official chain of Kryptos as well. Terra network, and we are going to support, you know, the usual suspects in the future like Avalanche, and the other successful protocols and networks. But we’re going to start, we’re going to go step by step. You know, you need to take it slowly. But we planned this already with the supply with the mechanism to do pledging, and Precog token is basically your token governance token utility token. So when you hold Precog, you can vote in the community portal in the future, when you and… Sentient is distributing profit as Precog tokens, and you can sneak Precog tokens to ambit records. Okay. You can use Precog tokens as a gas. So it’s a utility token. Basically, it’s a PCOG ticker. We haven’t released it yet. But we are going through an audit right now to make sure you know, we care a lot about security because we have a custodian model because we get there a stream of the users so we take security and safety very seriously. We have audits from the top audited companies, the ecosystem. We have also been cybersecurity penetration testing for the training environment. We pick specific clouds with specific security certifications to make sure we are safe and you know the hacking right now the scamming and hacking is is a huge thing in the in the IT industry, as all so And we are also talking to an insurance company, we are trying to get insurance for the custodian model or part of the ecosystem recovery system. And a peacock token is the currency of Precog ecosystem. So we’re going to use it as much as possible. And in cerebral, you don’t have to pay Ethereum, you can pay Precog tokens instead of Ethereum as gas. So if you have a wallet, and you don’t have Ethereum, you can use Precog tokens for gas transactions, we’re going to utilize this to make it easy for the users to do transactions. In case you know, because of Ethereum price, the gas price is fluctuating a lot. So we are trying to solve this by offering user friendly something easy instead of using gas directly. And this is the future. The gasless transactions is a future for DeFi products
Yet, so just so our listeners were clear on what you did say about gasless transactions. Yes?
Yeah. But what I mean by this. They’re going to pay gas, but not in Ethereum, in Precog tokens.
Right. Yes, So it’s a significant savings, as opposed to the standard ERC 20 on Ethereum.
Through these mechanisms that Mo and the team have developed, it’s going to send obviously, from recent gas prices, which have been astronomical and obviously there’s a lot of innovation coming into the space external that we wanted to make sure that we’re forward footing on solving these problems internally as well. But it also helped develop some of the key features of the ecosystem. As I said before, we haven’t actually touched on this chat is that we have developed a second product as well to come after Sentient so while Sentient is a passive income, I guess liquidity pool protocol development realize that over the last year, as you know, the governments around the world have opened up to Cryptos, institutional players are starting to come in and see the big opportunities here in DeFi now there’s a lot of more sophisticated and and institutional players that might want to come into the space. So we’ve developed a marketplace for that. So a fully decentralized derivatives marketplace for buying and selling future products, future contracts. So yeah, it’s extremely exciting. So you know, people who want to actually use their own strategies and/or deploy their own products. We’re going to have a full marketplace for buying and selling streaming. So it’s called Cerebral. So it will be the second.
Cerebral. Fantastic. Now, thanks for breaking that and attacking it.
To add something important here. It’s not only about futures, cerebral is a platform for synthetic tokens. Are you familiar with synthetic tokens? You know, the next revolution on blockchain is the tokenization of everything. So you’re gonna find tokenized gold to tokenize real estate to class or planet? Anything, you can tokenize anything. So synthetic tokens is something huge, a huge market, it’s coming to the industry right now is synthetic tokens, protocols, but it’s very technical. So you need a technical person to deal with it. What we are trying to do is to make it easy for anyone to create synthetic tokens instantly. So you can tokenize anything, Michael, you can tokenize your project. And then it over cerebrum, and a few clicks instead of going through like a huge process to do that. So this is like another site from cerebral but it’s derivative and financial derivative and financial products. That is usually very complex, we can make it super easy for anyone to use it like what Uniswap did, to the exchanges, swaps, decentralized exchanges.
Uh, Fantastic. That’s a game changer and you guys are really planning for the future as things will evolve, you know, in that direction in the future, just for our audience, if they want to chime in to the conversation and reach out to you and join the community, what is the best way that people can interact and and be part of your community.
Obviously our website, it is first and foremost to get a summary of all the information that’s pretty good P-R-E-C-O-G.Finance and that’s what all actually all information is, what all our articles we’ve been have some great some write ups and possibly great. Some media which have fantastic lot eyes on the project. We’ve got some amazing partnerships as well. Our partnerships… We’ve done with Polygon, Chain Link is huge for us. And then obviously, we’ve got Fringe Finance as well. And then well down the bottom. We’ve also got a lot of things to allow social media such as Telegram and Discord as well. And then obviously, Twitter you could say.
Brave wallet is the first secure crypto wallet built natively in a web three crypto browser. What’s web three, web three is freedom from big tech and Wall Street. More controlling better privacy. But there’s a weak point in web three, your crypto wallet. Most wallets are browser extensions, or web to technology. That means the same old risks. App spoofing, phishing, scams and theft. Brave wallet is different. Brave wallet is the first secure wallet built natively in a web three crypto browser, no extension required. With Brave wallet, you can buy, store, send and swap assets, manage NTfs even connect other wallets and dapps. All from the security of the best privacy browser on the market. Whether you’re new to crypto, or a seasoned pro, it’s time to ditch those risky extensions, it’s time to switch to brave wallet, download brave at brave.com/newtocrypto and click on the wallet icon to get started.
We’ll have all those on the episode Blog Post page on our site. So that way everyone can just find you guys and click and and join and be part of the conversation. I wanted to ask you in researching everything you have going on. I wanted to ask you what is the idea of cash and carry arbitrage trade? Can you unpack that for our listeners?
Yeah. So in essence, Michael, as I said before, what we’ve done is we’ve restarted with Kashi Perry, this is one of the first strategies to start show that, you know, proof of concept I guess, to start with, then, in essence, the non technical listeners out there, cash and carry arbitrage is basically it’s his opportunity in the inefficiencies on the current crypto assets, pairs and their future. So basically, the algorithm will scan 1000s of multiple exchanges and 1000s of contracts, and we’ll see focus on the price of the spots or spot price of the assets plus the carrying costs. So that’s where the carry comes into, which is the transactional costs that may be involved. And if the future premium of that asset has a higher value, then we’ll transact that, and do a forward sell on that transaction. So there’ll be an arbitrage opportunity, the regret thing is, an algorithm can scan multiple of these opportunities and do 1000s If it sees opportunities at any one second, between four days, 24 hours a day. So it’s just it’s truly two.
Fantastic. I wanted to ask you, can you because our listeners are probably wondering, can you take them through the process of because you mentioned automated and it can be done 24 hours a day for them? Can you take them through the process of how to actually get to that point with Precog?
Okay, cool. So just to touch on quickly on that last question as well. Because that’s a very exciting thing. So we’re seeing huge returns on our proof of concept and with a single strategy. And that was just with a limited number of exchanges that we’ve been testing on as well. The exciting part is this, our r&d teams, constitutes a financial engineers, we’ve got that out there, one of the best algorithms specialists, and obviously, you brought in some an AI team as well, developers, and now that they’re working with our development team who’ve come from investment banks, one of our team members is Xspark was investment banker, one’s hedge fund manager. So they’re developing multiple strategies now into the algorithm, so that it can depend on different market conditions to optimize it. And now the AI also helps optimize the actual algorithm itself to now see that yield increase over time. And obviously, as we start deploying more and more exchanges and increase the number of asset pairs that we will be targeting, that will increase significantly. So that’s very exciting.
Michael, the process using Sentient is super easy. You need a wallet with stable coins. You, the user will go to the Sentient Dapp which is a portal. They can see a lot of messages, they’re going to pick a strategy, connect, invest, they make a deposit, and that’s all they’re gonna wait for the profits.
Okay, so, just to reiterate. So, they hook up their wallet to the dapp, to the platform. They have stable coins in there, and then from there, they can take it forward really easily. I’m sure it’s a step by step simple process from there.
Yes, it’s super easy. It’s like pools. Each pool represents a trading strategy. The Binance pool, for example, you can make it there… was it on USDC or USDT. And in return, they’re gonna get an investment pool token, a trip isn’t a receipt for how much they made that there wasn’t. And this token is like the evidence that they got the invested or made a deposit of this amount on this pool, okay. And we have cycles at Sentient where we have an investment cycle, the user can make a deposit at any time during the investment cycle, at the end of a business cycle, they’re gonna they’re going to be profit distribution. So it depends on when you made a deposit, we’re going to calculate the profit based on the time of making a deposit and moving this deposit to the trading environment. Because you know, we have a trading environment, which is an AI algorithm. And we have the data, which is the interface for customers to use this environment in a decentralized way. And there are no configurations. Usually, the investors and customers ask us what the competitors’ market is. The thing is, till now, we don’t have a competitor. It’s like something new in the ecosystem will not compete with bots. Because in order to use bots, you need to have to configure it, have technical analysis skills, of the trading of the market. And I use a lot of bots, I enjoy using them. But it’s all complex sometimes, and it doesn’t work. It’s all the same great strategies, like in Binance, or on Kucoin on other exchanges or other bots platforms. It’s all like copy paste the same strategies, good strategy, where you buy the asset at a certain price through a grid. And, you know, going in the way of dollar cost average buying assets, while Precog Sentient, will not do that, it will do the training. In sub milliseconds, no human can compete with this. And basically auto compounds the profit with the original trading amounts, so the opportunity for losses is very low. It’s nothing because it happened in a few milliseconds. While the bots, if there is a part that makes you this high returns, usually the companies will hide it and will not make it public. And that’s what’s happening. With the trading bots, platforms. No company will give you the secret recipe of generating a lot of profits with high returns that easy. That’s a fact. And also, we don’t provide a static APY, because you know, it’s a trading, sometimes the market conditions will give you a lot of volatility when volatility trading is very profitable. So sometimes the protocol will generate very high returns and comparison to the week before. And we’re going to be super transparent about this, we will not hide anything, it’s going to be there, everyone can see how much we were generating profit. And this is the beauty of Sentient. And the most important thing, when we release a strategy, we don’t leave it there market, the team behind the r&d team, the financial genius, will keep optimizing the strategies in daily basis, because our target is to generate super high returns, that no other protocols can compete with us in this.
I think I have a very important point. Because we’re trading in the environment, our algorithm actually does well in a bull and bear market, which is extremely, extremely valuable to the USDT, so no one guesses people who are buying and day trading on their own behalf. You know, obviously, they’ve been on a roller coaster over the last couple of years and seeing those ups and downs. And as much as they can see the uplift, they also see the down downside, how our algorithms trade 24/7 but because of the arbitrage opportunities, it does yield in both directions, whilst it actually does better in a bear market actually. And the more volatile it is, as Mo just explained, the better the algorithm performs. So that’s extremely efficient.
Yeah, that’s awesome, guys, thanks for sharing that. I wanted to ask you. Can you share with our listeners what the roadmap for 2022 and beyond looks like?
Yeah, really exciting. For us, we’ve been working day and night. So the last multiple months and now we’ve expanded our team. Now we’ve come to a point where… One thing is, Michael, that we were one of the beginners of the get go was what we had multiple few different mandates, we wanted to provide one, be completely transparent on absolutely everything we do to build the best team possible, and attract the best talent, because at the end of the day, that’s Person Number three’s have a real product that adds real value to the end user. The only way that we can have the best practice and have the best team. So people have done that. And now we’re going to have the best product. And every step of the way, we want to make sure that we’re being innovative and step forward. And now we’re at a place now, we don’t want to have a smoke and mirrors project, we want to make sure there’s real value here. And now we’ve come to that point. You know, it was like a high five moment when the trading environment really worked. We’ve seen these returns, it actually blew my mind. I wasn’t expecting anywhere near the results that we saw, which made it even more exciting for the team, energized everybody out and anyone who needs sleep at the moment. It’s that exciting. And we really were looking forward to now delivering that out to the public. So, we’ll go through a little bit more about the technical roadmap.
So right now we are auditing… We are in the process of auditing the token, then the smart contracts of Sentient, then we are going to release the first version of Sentient and the token across Ethereum and Polygon. And in terms of resources, we can increase the team members of this blockchain team to build in parallel, the Cerebral platform, start building it, in addition to improving Sentient. We have also an Academy for Precog, for users, for new crypto users, on how to use blockchain in general, we’re gonna have a learn to earn campaigns to motivate people using Blockchain and using our products as well. And, you know, Michael, we have this mother company is going to be Precog labs, so Precog labs gonna keep doing r&d and releasing products to the ecosystem, the Precog ecosystem that is very valuable, that is sophisticated. No, we will not like copycat the existing products, we’re going to do only fresh new products that no one offered before. And with Sentient, we’re going to focus on improving Sentient optimizing strategies, rolling out new strategies, and you know, with the blockchain industry, you have to keep up with the latest updates, the latest trends, Metaverse and gamify, and a lot of things are happening. So you know, you have to keep up with the game, we will not just put the product, leave it online. And that’s it. We have a lot of things to do for 2022, 2023, 2024 and years to come. But for this year, we’re going to focus on improving Sentient and, you know, you have to, we have to do some listing on exchanges, and decentralized exchanges and fix the market making strategies. And we have to grow the community. So, because as I told you before, we are community oriented, community driven, and now we started in building the community, increasing the community and going through this process of listening more from the community. Okay, so 22 We have a lot of things to do and finish.
Just want to touch on that we’re so ingrained into the community, Michael, that we’ve done something a little bit unique as well. Now, free public launch raises as well. You know, and usually pretty raises are always in that by VCs or, you know, big investors with deep pockets, we actually take an allocation of our private rays and put it on for the public, for retail investors to come in for a unique opportunity to purchase on a private raise. So that’s something that a lot of projects don’t do. But that does for us, you know, actually gives access to the general public an opportunity to actually get in before it’s a huge opportunity to get in before we actually go public, which is huge. We’re doing that to eliminate rejects.
I love that, that’s awesome. You’re community focused, and you’re given the community and opportunity and you know, a chance to get in, at Ground Floor basically, right?
That’s very, like this timing of the patch. And for me, like, when I, when I say we built this platform for the community, essentially import, everybody has matter. You know, if you’re from a big city or from a small country, the town doesn’t matter what country you’re from. What everyone has as much value from the get go, not just knowing the end user. So everyone’s involved with this platform. And that’s really what blockchain is really here for, right? It’s actually, as more likes to say, that democrasizes everything about financial systems that everybody has participation in, and that’s what we’re really engaged with in the community.
You’re speaking my language. Absolutely. I mean, it’s for the people, right? Blockchain crypto, it’s borderless, it’s peer to peer, it’s global, it’s 24/7. It’s an endless opportunity. It’s a game changer, you know, it’s changing the future of the planet, as we know, even the traditional system is forced to integrate into it, you know, you got them you’ve woken up.
That’s what gets paid every day.
It’s also about disrupting this financial sector, that no one that’s for the past maybe 100 years, for essentially, it’s not touched. It’s being there. So it’s, it’s gonna affect someone’s reading, it’s the greatest dislocation of wealth in human history. So a ton of dollars are moving from centralized finance, traditional finance, to Digital finance. So it’s gonna affect everyone in 2012, started promoting Bitcoin across communities in the Middle East. Then once I get attacked by people, and I tell them 10 years from now, you’re gonna get your salary in crypto, and I’ve been backless for the past two years Michael. I never visited any bank. I didn’t have an ATM. And it’s amazing, honestly, it’s like living in financial freedom. And it’s really good.
You become your own central banker.
The beauty is that, you know, local, while you want to enrich everyone’s lives, this is exactly what we’re trying to do. And that’s why anyone who’s listening to your podcast is trying to, they’re trying to improve their life, in whatever state they’re in whatever position they’re in. And now whether it’s, you know, you’re gonna be able to take the ease off repaying your mortgage, or whether it’s just going to be able to put food on your table. No, that’s the beauty about what this opportunity can do. And we’re excited to be a big part of this solution. It’s really exciting. Fantastic. Yes, I guess there’s a couple of just one thing that Mo touched on before now, within the Precog ecosystem. One thing is that we don’t have enough, we have plenty of his ideas, you know, the guys come up with ideas every day, no one thing that started about his innovation, and Mo wakes up every day, so excited, no billion is in front of this space. There’s never enough time or resources for everything, but we’re doing everything in priority. But you know, obviously, building is a long term goal for us, we want everyone to come in and benefit for the long term, not just in the short term. One of the biggest components that Mo just touched on before is the Precog Academy. So we’ll be developing those see programs that people can learn how to use the system, but also to integrate and learn about the growth of DeFi itself, then we’re also going to build in to learning and development and so that people in in communities where they don’t have access to a lot of this information can actually learn about CiFi and decentralized derivatives as well. So as part of the education part is a very big component of what we’re all about.
Yeah, I think it’s huge. You know, it really goes along the lines of a new to crypto podcast is just playing a part in helping people navigate through, you know, the crypto landscape, if you will.
Mike, and I want to talk about something important. What’s happening with us right now, we are in touch with many protocols, Blockchain projects. They want to use Sentient to add value to their users, for example, Icelandic protocol, want to use Sentient to introduce self paying loans using Sentient trading switches. So imagine that Michael you put up collateral and Bitcoin for example, and take a loan. So the protocol will automatically use this loan and put in Sentient to generate high yield to automatically pay the loan. That’s one thing. And one more thing we are thinking about right now is some DeFi projects… Are you familiar with a wonderland? The Rebase tokens?
So history based tokens, they have high APY, and they have unlimited supply. But they don’t have a mechanism bird. So basically, these kinds of reserve… currency reserves tokens, they built a reserve currency treasury, where the stable coins and they keep in providing their users with high APYs crazy APYs, like every four hours. But the two economists of such project will not work out on the long run, because the price will go down because of inflation. So basically, what they want to do with us, they want to build a burning mechanism, where they use part of the Treasury, add it to Sentient, and get monthly profits, and use these profits to buy back some of their tokens and burn it automatically. So we have this kind of DeFi-to-DeFi integration partnership. And we are studying how we’re going to introduce this kind of programs to any DeFi project that wants to utilize Sentient. So this is really interesting. We love the idea of working with other DeFi projects, DeFi protocols. We love to see this kind of integrations, because what I see from Sentient from Precog, Sentient is going to be like an infrastructure component in the DeFi ecosystem for a lot of projects in the future. So you can make it this way, not only the retail investors can can utilize Sentient in the future. So imagine this Sentient as an infrastructure component, where a lot of protocols can integrate with it automatically through smart contracts.
Okay. Wow. The future for Precog is exciting. You know, I think Precog is going to be huge.
Yeah. Definitely. Absolutely.
Is there anything else you guys want to share with our audience?
You know, I like just to say, from a personal point of view, like this whole journey of this project is, it’s been inspirational, like our whole team has come from different facets around. Our whole team visualized as well. You know, like, our CTOs in Portugal, you know, Mo is Jordan, we’ve got our AI specialists in Argentina, we’ve got an algorithm. Guru is in Belgium. Yeah, he runs all over the world and the guy in Bali is the ex banker, obviously sitting on the beach. But you know, I like everyone’s marketing team staying in Cyprus. But everyone is so inspired by this movement. And, and like, I guess, the painting thing like to see this radiate through your community. And what we’re seeing in the, in the, I guess, in the wider world pulse on an excitement of this whole, this whole system is exciting, you know, and, and that’s what sort of drives us more than anything. Being able to see all the hard work that we put you’re doing right now to then put onto the blockchain and then see that radiate to the end user. That’s what we’re expected to see. So thanks, again, for being able to have this opportunity to talk to your listeners about our party.
Yeah, it’s been fantastic. Hey, guys, it was a pleasure to have you on here. I’m really excited about the future of Precog. I mean, you guys shared so many gold nuggets and almost future pace to industry and DeFi and, you know, basically the plans of what you’re going to roll out in the future. And I’m going to be keeping an eye on and watching your project closely in joining the community of course. And it’s a pleasure to have you here. You guys are welcome back. And, man, I really enjoyed this sit down, and I learned a lot. I took notes myself.
You know. Thank you again, for having me now. absolute privilege. Thank you.
Absolutely. Hey, if you liked today’s episode, definitely like it. Subscribe to the podcast to show your support. Click the little bell notification if you’re listening on like Spotify or YouTube, and chime in here tomorrow for another special episode. Until then, make it a great day.
Thanks for tuning in to New to Crypto Podcast. If you liked the episode, be sure to follow and subscribe. You can listen to every episode on all major platforms to have an interest in being on the show or one advertising reach out at newtocrypto.io. Head over to our site newtocrypto.io to access the resources mentioned in each episode. Until next time, remember to navigate the crypto landscape with pinpoint accuracy.