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How to create a one-stop DeFi platform without barriers

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GOGOcoin is trying to be a decentralized fusion of Web2 and Web3.

December 6, open source DeFi protocol GOGOcoin Founder Garry Krugljakow Bio shared his understanding of the combination of DeFi and NFT and the advantages of GOGOcoi compared to other platforms in an online chat with users under the theme of "One-stop DeFi Platform without barriers".

According to officials, GOGOcoin is an NFT and DeFi project dedicated to building a one-click access platform that opens the decentralized finance (DeFi) space to everyone, enabling interoperability across multiple blockchain protocols and access to DeFi products.

The following is a transcript of the online conversation

BlockBeats: Please tell me briefly about yourself. How did you get into DeFi and NFT?

Garry Krugljakow Bio:My name is Garry and I am a fintech entrepreneur who used to work as a trader/banker at a large asset management firm. I helped found N26, one of the largest mobile banks in the world, and later I co-founded Cookie App(Venmo Europe), which was sold to Swedish fintech company Klarna. I also founded VAI Trade, an AI-powered online lending company for Shopify stores, which was sold to Germany's Volksbank before the COVID-19 outbreak.

I joined the market during the DeFi fire in the summer of 2020 and clearly saw that this was the future of finance. I am also passionate about art and music, and I became interested in NFT earlier this year.

As a result, we created a Cryptogogo NFT series in spring 2021 (which has become a top 15 hit series on Opensea). We developed the project and created GOGOcoin, which is how the current protocol got its name.

BlockBeats: Can you briefly introduce GOGOcoin?

Garry Krugljakow Bio:We are building the most user-friendly open source DeFi protocol for asset management and savings. We will be one of the first DeFi protocols to provide segregated funding on the chain in the form of secure, smart contracts and linked insurance. GOGOcoin combines an interface with a user-centric approach while building on the benefits of a decentralized infrastructure.

We believe that "decentralized finance" will eventually be called "finance" and replace traditional finance in the way we know and use it today. Our goal is to pave the way for the introduction and inclusion of these masses through easy-to-use Web2 on a decentralized Web3 platform.

Rhythm BlockBeats: GOGOcoin hopes that there is no threshold for newcomers to participate in DeFi, so what are GOGOcoin's advantages? How to attract new traffic?

Garry Krugljakow Bio:The DeFi protocol and DeFi ecosystem are now too complex for most people/regular people to interact with and operate with. We believe DeFi should be available to everyone, regardless of their personal background or technical ability, and everyone should be freed from the shackles of centralized finance.

That's why we want to be the gateway to DeFi for new users. This is not another degens specific protocol (we will cater to this protocol before releasing V2.0 and V3.0 in the coming months), it's about getting the general public to join DeFi.

Our solution is a very simple DeFi protocol, simple enough that your grandparents can use it. We offer a smooth user experience, supported by outstanding stealth technology, including on-chain automation, simple one-click interaction for DeFi, and high security through NFT Smart Vault.

Rhythm BlockBeats:How are DeFi and NFT combined in GOGOcoin? How to understand the concept of NFT Smart Vaults?

Garry Krugljakow Bio:NFT adds another layer of security and decentralization to our protocol. You will be able to connect your user profile, such as your E-mail address, to the vault in a way called password-free login, also known as magic link. If you need to reset your access, you will be able to use a "social recovery" approach where you can designate 3 trusted people, such as family members or close friends, who will be able to reset your access to the vault (which will store your private key) similar to Gnosis multiple signature.

This is currently one of the most secure methods in DeFi. You can keep your private keys yourself without having to write them down on a piece of paper, which is too easy to lose your private key information.

BlockBeats: Can you introduce the GOGOToken economy? What is GOGO used for in ecology?

Garry Krugljakow Bio:GOGO will be a truly functional Token upon launch. One of the utilities is our cost of developing different DeFi protocols and governance capabilities, which will be announced shortly after launch.

BlockBeats: After ID0, what's the next GOGOcoin milestone?

Garry Krugljakow Bio:Once our Token issuance is complete, we will launch version 1 of the GOGO protocol (V1.0), pledge and liquidity mining on Polygon, and introduce NFT pledge.

By early 2022, we will start rolling out our first governance proposals on other blockchains. Also in the first quarter of 2022, we will deploy native mobile application development. By April next year, our aim is to have a Swiss investment management licence so that we can market the DeFi agreement to bigger funds and look at a CEX listing. In July 2022, we will launch our Advanced vault strategy.

Our goal is to integrate our platform with existing traditional finance and fintech platforms by the end of 2022, and target "normality" where banks and other centralised players can be "harmed".

BlockBeats: Are there competitors doing similar things? How did GOGOcoin establish its edge?

Garry Krugljakow Bio:I'm afraid there's no real competitor because we're trying to be a decentralized fusion of Web2 and Web3. We can be compared to the stakeholder and Enzyme for the policies we will provide/make, but obviously we have a completely different user interface and user experience.

BlockBeats: Thanks to the bull market and the growth of NFT, the crypto community has gained worldwide recognition. How do you plan to attract new users? Tell us about the Gogocoin platform and its unique features that make it stand out from the crowd?

Garry Krugljakow Bio:We hope to create the future of finance by waging a war against opaque fees, over-centralized bureaucracy, old structures, and bad bankers to disrupt the entire market and get the next million users to join cryptocurrencies.

Seriously: In the coming days and weeks, we'll be doing a lot of community work, storytelling, brand building, PR and making amazing partnership announcements with Excellent Protocols and founders. We're very excited about it and can't wait to share it with our community.