Ikasystem round two - @fullsailfi
The Spaces focused on the Full Sale platform team on Sui, highlighting its development journey and its role within the decentralized finance (DeFi) landscape. Discussions included the background and experiences of team members in Web3, the challenges and perspectives on launching Full Sale, and insights into their collaboration with Eka's technology framework. Furthermore, participants shared information on the innovative liquidity prediction competition aimed at engaging community members. The conversation also emphasized entrepreneurship opportunities within decentralized markets, contrasting traditional finance structures.
Full Sale and the Future of Web 3.0
Introduction
The discussion led by the hosts, identified as Uber and Rari, along with guest speakers Gluta and Bonnie, revolves around Full Sale - a new initiative in the Web 3.0 space. Both hosts and guests share their backgrounds, providing insights into their respective journeys into the cryptocurrency and blockchain industry. The highlight of the talk, however, is a detailed exploration of Full Sale and its relevance in the Web 3.0 ecosystem.
Backgrounds of the Speakers
Uber: Holds over 30 years of experience in IT, primarily focusing on enterprise infrastructures. He initially entered the crypto industry in 2013, using Bitcoin to pay off student loans. His journey into web 3.0 became more serious around 2018 and 2019 due to the influence of a friend who introduced him to the Sui ecosystem. He was particularly captivated by Sui’s technology and joined Full Sale, attracted by its potential in the decentralized finance space.
Rory (aka Rory the Intern): Transitioned from traditional finance where he worked as a broker at Schwab to crypto due to a keen interest in technology, especially Sui. He met the Full Sale team at the Sui Summit, rapidly aligning with their vision and joining the team thereafter.
Gluta: With an academic background in physics and computer science, Gluta encountered Bitcoin in 2013. He made a significant turn to full-time crypto development after the DeFi summer, learning finance through smart contracts and working on improving decentralized finance models such as Alchemix, which inspired his involvement in Full Sale.
Bonnie: A seasoned entrepreneur who started her first business at age 11, Bonnie backed by her educational credentials in environmental public health and business knowledge from Johns Hopkins has significantly contributed to Full Sale’s growth. She joined the crypto world through financial data work and consulting for bitcoin miners, eventually partnering with Gluta to co-found Full Sale.
Full Sale, Eka, and Sui Ecosystem
The conversation shifted to an in-depth exploration of Full Sale's role in the Web 3.0 financial ecosystem and its collaboration with Eka and the broader Sui framework. The discussion highlighted the following:
Development of Full Sale: The initiative draws inspiration from historical developments in decentralized exchanges (DEXes). It builds upon existing models such as Uniswap V1/V2/V3, Sushiswap, and the VE3 model, aiming to address various inefficiencies.
Innovative Model: Full Sale introduces a prediction market approach to liquidity provisions, addressing the inherent inflationary problems seen in previous DEX models that relied heavily on fixed emissions regardless of market conditions.
Collaboration with Eka: Full Sale utilizes Eka’s innovative systems for enhanced security and transaction speed. By using Eka's parallel MPC network and cryptographic security measures, they have been able to streamline operations and reduce the security concerns typical in traditional blockchain systems.
Future Vision: Full Sale aims to become the most capital-efficient DEX, leveraging the unique capabilities of the Sui ecosystem, which include interoperability and permission control features.
Full Sale’s Prediction Market Competition
A significant point of interest is Full Sale's ongoing prediction market competition designed to educate and engage users in their novel liquidity provision process.
Competition Structure: Running over four weeks with increasing weekly bounties, the competition encourages users to predict liquidity volumes in various pools, offering rewards for accurate predictions.
Engagement and Stress Testing: The competition serves multiple purposes—engaging users, stress testing Full Sale's systems, and educating the community about its complex mechanics.
Conclusion and Community Engagement
The speakers emphasized community building as integral to the success of crypto ventures. By fostering inclusive participation and encouraging experimentation, Full Sale and Eka are poised to contribute significantly to the decentralized finance landscape.
Open Participation: Highlighting a broad entry point for newcomers to the industry, the panel encouraged active community involvement as essential for the continuous evolution of Web 3.0.
Closing Remarks: The speakers expressed optimism and enthusiasm for the launch of Full Sale’s main net, anticipating no critical issues due to rigorous testing. They concluded with a reminder of the ongoing competition that promises substantial rewards for the most successful predictions.
This recorded session provides a vibrant glimpse into the backgrounds of various Web 3.0 professionals, the novel strategies they are deploying, and the spirited community engagement driving forward the frontiers of decentralized finance.