Sat. Jan 1st, 2022
    Broxus Breakdown, Podcast

    Broxus is launching podcasts focusing on company innovation, the Free TON blockchain, decentralized finance, and the crypto industry in general.

    In the first episode, Broxus CEO Vladislav Ponomarev spoke about the beginning of the team’s work, its projects and the leading role in the development of Free TON.

    Brian, Broxus

    Vladislav Ponomarev, Broxus CEO

    Decentralized Finance (DeFi) is a new branch of the financial industry that is growing steadily and attracting more and more participants. New sector services use blockchain platforms and are often based on open source as well as other publicly available tools.

    As Brian pointed out:

    Technology designed to give us more financial freedom and more personal control over our financial lives.

    The Free TON community, together with the Broxus team, offer solutions that respond to new changes in the financial environment.

    The advancement of new technologies is not without obstacles. One of them is the difficulty of understanding the DeFi sector mechanisms and tools. The product is ready to use, but is described in complex terminology that makes people feel uncomfortable. It is difficult for beginners to figure out how everything works. Obviously, they will not be able to appreciate the advantages of some solutions over others and make the right choice.

    Therefore, Brian outlined the purpose of podcasts:

    Our philosophy is to use an approach that explains things in easy-to-understand words.

    They are going to invite different guests to the programs, who will be able to tell a lot of interesting things about the cryptoindustry and share their experience.

    For example, the topic of making money on staking and farming is gaining momentum. People are increasingly interested in decentralized exchanges and cryptocurrency transactions. Special podcast episodes will be dedicated to these topics.

    Broxus Team Start and TON Project

    Vladislav Ponomarev said that the Broxus team gathered at the beginning of 2019. It was a small startup with good experts and developers. The experience of the founders, in particular Sergey Shashev, in the field of algorithmic trading and Data Science made it possible to start creating technologies for working with market data, as well as integrating with such blockchains as Bitcoin, Etherеum, Monero and others.

    The team became interested in the TON project, developed by the Durovs, even before the launch of the network itself. Therefore, they have prepared a lot of technologies for it. Among them are the payment gateway and the wallet ecosystem.

    We have developed solutions that provide easy access to blockchain and cryptocurrency. We saw that if we make an API product that makes it easier for ordinary companies to access cryptocurrencies, it will help get the market.

    Following the SEC’s injunction against TON and the closure of the project, the team continued their activities in collaboration with another new project.

    Broxus and Free TON Launch

    TON Labs, Broxus and a couple of dozen other companies decided to launch a separate blockchain based on the open source TON. Thus, the Broxus team became one of the initial members who stood at the origins of Free TON, which started more than a year ago – on May 7, 2020. The video of the event is available on the Free TON community YouTube channel. From that moment on, Broxus began to act as one of the Free TON validators. The team also started developing products for the new blockchain.

    Vladislav Ponomarev noted that it became clear that DeFi was gaining momentum. Therefore, they decided to lead this direction in Free TON, and in September 2020 they launched the DeFi subgovernance. Every Thursday they hold open group discussions where you can ask questions and learn new things about the DeFi sector.

    Broxus Projects

    According to Vladislav, from the very beginning they planned to create infrastructure in Free TON. It is designed to facilitate the integration of newcomers and new projects — all migration to Free TON.

    The team was going to develop a bridge between Etherеum and Bitcoin. The idea of ​​a bridge at Polkadot, Solana and others was also considered.

    Subgovernance tried to launch two bridge contests in parallel: one with Etherеum, the other with Bitcoin. However, in the second case, they could not find a suitable development team, since Bitcoin is too different in programming and operating principles. They were more interested in projects similar to Free TON, such as Polygon, Binance Smart Chain.

    It was decided to start with a bridge at Etherеum. After the bridge began to be used in the market, and the first 2 million dollars came from Etherеum to Free TON, the team launched the next project — TON Swap — a decentralized exchange.

    Broxus is currently developing a bridge that supports multichain. Vladislav believes that the task is not difficult from a technical point of view, but in the sense of balancing liquidity between blockchains.

    Regarding the team’s plans, Broxus CEO noted:

    “We want to build a very solid DeFi system. Not just a bridge with DAO. Not just a good DEX. But also other infrastructure parts — such as the token standard, wallets, various start-up programs. This is not just a challenge for Broxus as developers, but rather a combination of Broxus as a member of the DeFi Subgovernance and the Free TON DeFi Alliance. We want to accelerate the flow of liquidity in Free TON”.

    Vladislav also drew attention to the recently launched Crystal Handshake program together with the Free TON DeFi Alliance. In his opinion, this is something new for the market. The program is aimed at finding startups in the early stages. It will help create good products for Free TON and then there will be real market demand for TON Crystal.