Roman Vinogradov, the founder of UNO.farm, offers his predictions for the future development and growth of the DeFi industry.
Despite the wintery winds sweeping through the cryptocurrency world, decentralised finance continues to expand and advance. It will be interesting to watch what the future of DeFi holds as more and more consumers turn to this industry for their investments, particularly in light of the recent massive incidents involving some of the biggest centralised exchanges.
Roman Vinogradov, the founder of UNO.farm, predicts that DeFi will continue to expand and advance. Once the present crypto winter is past, the way for widespread adoption will become evident. See what he has to say in the interview that follows.
Q. What continues to discourage people from utilising DeFi instead of centralised exchanges?
Complexity. Most users find it to be both frightening and overly confusing. DeFi is complicated, so at UNO.farm we aim to make it simpler for users. We have, in my opinion, created one of the most straightforward access points to DeFi yields, and we remain committed to streamlining processes while increasing risk transparency.
Q: How can DeFi be made more secure?
Knives are only safer if the user is skilled and understands their dangers. But even the protocols themselves have become more secure over time as the industry has evolved. Sex is rarely abused multiple times. All projects learn from the mistakes of others. This allows DeFi protocol security to evolve much faster than traditional systems.
Q: What is the most exciting aspect of decentralized finance for you?
Cryptocurrencies democratize money, and DeFi democratizes complex financial transactions between users. Not only can you trade cryptocurrencies without a centralized service, but you can also become a liquidity provider in such markets and earn trading fees. Excited? Money can be spent on real work without middlemen or censorship.
Who is Roman Vinogradov?
UNO.farm is Roman Vinogradov’s latest project. He has extensive experience in the crypto space and in fact, he is one of the first bitcoin miners who started in 2011.
Q: Please tell us how you got started with cryptocurrencies and why you chose DeFi.
Back in 2011, I was mining Bitcoin on my balcony when I first started talking about cryptocurrencies in my circle. I used to teach people at meetups and it was fun for me, but I sold everything in the first crypto winter of 2012. Then I returned to space as a blockchain developer and when DeFi came along it was my professional duty to understand how it worked. When I went there, I was surprised by its innovation. I still
Q: You have a lot of experience with smart contracts. What should be changed to make smart contracts more secure and suitable for global use in the financial industry?
I think the blockchain itself is already security ready. With his daily trading volume on DEX reaching billions of dollars, DeFi is already being used in the financial sector around the world. What needs to change is scalability. That’s why there are so many layer 2 solutions. And of course education.
Q. Can UNO.farm-like products become widely used financial instruments? Or is that degree of adoption premature at this point?
It’s not too early, in my opinion. People can access DeFi more easily thanks to products like ours, and since DeFi can be used to make money, people are encouraged to utilise it. All DeFi tools will keep moving toward widespread use after the winter is through.
What does the future hold?
No one can see the future, but those who are deeply involved in a particular industry have a clearer picture. DeFi expert Roman Vinogradov has some insights to share about where the sector is headed.
Q: How do you see the future of DeFi? What needs to be done before DeFi rolls out globally?
I’ve seen most financially literate people use it, but it’s only a matter of a few years. The security of the protocol will continue to evolve and there will be fewer and fewer serious hacks. Profitability stabilizes as the industry matures with more risk-hedging tools and more participants in his DeFi. Global adoption happens by itself and quickly.
Q: As the founder of UNO.farm, what are your goals for the next five years?
My goal is to support DeFi adoption, improve existing tools as much as possible, and build cool things that benefit everyone.