Interview with Obasi Francis, Founder of DeSpace Protocol
Hi Obasi Francis, thanks for taking the time to join us for this interview to educate our community on the DeSpace Protocol. Can you give us a brief introduction to you? What is your story, dating back as far as you wish?
Hi, I’m Obasi Francis, a Nigerian, and a graduate of Political Economy at the University of Benin. I’m the Founder and CEO of Lead Wallet and DeSpace Protocol.
I’ve been in the crypto space since 2016 and during these periods I’ve seen projects come and go either as a result of a bad business model or as a result poor management. I rose from content writing to moderating different projects’ communities, business developers, and becoming a blockchain entrepreneur. I founded Lead Wallet in 2019, ever since I and the Lead Wallet have built the startup from a mere $350k company capitalization to over $5m within two years with so much upside potential.
DeSpace Protocol is my most recent adventure and I believe the opportunity it affords is limitless especially to DeFi and NFT lovers.
Why did you get involved in the cryptocurrency industry, and where do you think the industry will be in 5–10 years?
The problem of under-employment and unemployment in my country was primarily what drove me to search for alternative economic opportunities beyond the confines of Nigeria.
Well, in the next 5–10 years I see the crypto industry grow by 50 times more from its current size. This obvious growth will be reflected in the areas of user acquisition, new business model, more practical and efficient DeFi, and NFT techs which will aid the drive towards crypto mass adoption.
That’s amazing. Now can you give us a short introduction to DeSpace Protocol and its history?
Sure! Why not. DeSpace Ecosystem is an incorporated entity in the UK. DeSpace Ecosystem Limited is the legal entity through which we are building and managing DeSpace Protocol and DeChain blockchain projects. DeSpace protocol was first conceived in 2017, however, due to the bear market that hit the space in 2018, we decided to pause on the idea and wait for the right time to relaunch. And this we have done in 2021 because we feel this is the right time for NFTs and DeFi products to drive the much-needed crypto mass adoption.
In a nutshell, we are building a decentralized DeFi and NFT Protocol (DeSpace) on top a layer two blockchain solution — Dechain. DeChain is a multi-chain layer two blockchain solution that enabled us to build a DeFi and NFT aggregator solution whereby users of the platforms are able to mine Des coin while they transact on their most preferred DeFi and NFT solution right from DeSpace website. In addition, DeSpace will have its own native Decentralized exchange (DeSwap) that supports spot, margin, futures, and AMM so that all kinds of crypto traders and DEX users can benefit from the multiplicity of functions. The protocol will also have its native decentralized lending and stable coin generating platform that allow crypto users to borrow, and supply liquidity while they mine DES in the process.
I believe DeSpace will be that one-stop solution for crypto lovers, enthusiasts, and noobs for DeFi and NFT use cases
Could you please give us a rundown of the most important things about DeSpace Protocol as well?
DeSpace Protocol is unique because it’s the first most comprehensive DeFi and NFT aggregator protocol that allows users to mine Des coin as they transact on their preferred DeFi and NFT platforms. As an aggregator protocol, DeSpace is built on a proprietary layer two blockchain solution (DeChain) that enables interoperability, multi-chain transactions, and compensation scheme delivered through mining and staking rewards. In addition, DeSpace has its native Dex, lending, and NFT marketplace with a variety of features that make it exciting for users to earn passively. Prior to our TGE event, we will launch our first rare and gamified NFT cards that will allow users to claim our first set of pre-mainnet NFTs which can be used to mine Des coin, or farm more NFT cards.