Zerion Introduces New Layer 2 With Zero Fees | Evgeny Yurtaev
Jul 29, 2024
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Evgeny Yurtaev, Co-Founder and CEO of Zerion, discusses his journey from tech enthusiast to DeFi innovator. He unveils Zerion’s new Layer 2 solution, the Zero Network, which promises zero transaction fees and a smoother user experience. Evgeny dives into the challenges of simplifying digital asset management and enhancing security in DeFi. He also highlights the evolving role of wallets and the importance of user engagement in fostering a more accessible Web3 environment.
Zerion's new Layer 2 solution, Zero Network, aims to streamline transactions by eliminating gas fees and enhancing user experience.
The shift towards a user-centric approach in DeFi by Zerion seeks to foster broader adoption and engagement beyond traditional investors.
Deep dives
The Evolution and Functionality of Sirian
Sirian has transitioned from a portfolio tracker and DeFi aggregator to a full-fledged mobile wallet, catering to the needs of active users engaging in on-chain transactions. The platform emphasizes security features such as transaction simulation and phishing defense, making the process of managing assets safer and more user-friendly. Originally founded in 2019, Sirian was shaped by the earlier challenges users faced in tracking complex token assets, prompting its creators to build infrastructure that simplifies asset management. This shift has significantly increased user engagement, with over 400,000 active wallets and a strong retention rate, showcasing the platform’s growth and adaptability in the rapidly evolving crypto landscape.
Revenue Streams and Financial Sustainability
Sirian monetizes its services through a combination of transaction fees, premium subscriptions, and API access for third-party platforms. Users benefit from premium features that offer lower trading fees, CSV exports for tax reporting, and portfolio performance tracking, illustrating a shift towards a more sophisticated service model tailored for active traders. Additionally, the API revenue is growing significantly as it allows other businesses to leverage Sirian’s extensive portfolio data, demonstrating its importance as an infrastructure provider. These diverse revenue streams not only enhance the user experience but also position Sirian for continued growth and financial sustainability in the competitive DeFi space.
The Launch of Layer Two and User Experience Improvements
Sirian is set to launch its own Layer Two network, which aims to enhance user experience by minimizing transaction complexities and gas fees associated with on-chain activities. The team identified the challenges posed by the existing gas market and the fragmentation created by multiple Layer Twos, leading to the decision to create a system that optimally streamlines user interactions with DeFi protocols. This Layer Two initiative aims to allow users to transact with lower costs while abstracting away transactional fees, making on-chain experiences smoother and more rewarding. The underlying goal is to innovate how users interact with decentralized applications, ultimately striving for a frictionless and enjoyable experience.
Future of Decentralized Finance and User Engagement
The podcast discusses the evolving landscape of decentralized finance (DeFi), with a focus on how Sirian aligns its vision towards creating a more user-oriented ecosystem. The emphasis is on facilitating user engagement through innovative features that appeal to the general public rather than solely targeting liquidity providers and investors. By enabling straightforward access to useful applications and rewarding participation, Sirian aims to transform the perception of DeFi from a casino-like environment to a thriving financial ecosystem. This user-centric approach is seen as vital for encouraging widespread adoption and sustainable growth within the DeFi space.
Evgeny Yurtaev is the Co-Founder and CEO of Zerion, which is is an investing tool that enables users to manage their DeFi and NFT portfolios. Recently, Zerion announced the launch of a new Web3 wallet and a Layer 2 solution, Zero Network. These new products aim to enhance the user experience in DeFi by providing a friendlier user experience cost-effective transactions. In our conversation, we dive into the latest updates from Zerion and explore the exciting developments in the DeFi space.