Highlights From “Smartest Ways To Seek Alpha” — VegaX Digital Asset Education Series
This edition of the VegaX Holdings Digital Asset Education Series in Partnership with Chinaccelerator features Qiao Wang, Partner at DeFi Alliance — “Unblock hurdles for DeFi startups.”
Qiao provides insight on DeFi Alliance, crypto investment, crypto and DeFi adoption, and more. You can revisit and replay the recording of the webinar series by clicking on the link below.
Watch Recording: VegaX Digital Asset Education Series: Smartest Ways to Seek Alpha.
For a summary of the webinar discussion, keep reading!
As always, please reach out to us with questions, comments, and suggestions for topics/speakers for our Digital Asset Education series!
About Qiao Wang, Partner at DeFi Alliance
Qiao is currently a Partner at DeFi Alliance, a consortium of almost 100 organizations in the crypto space with the goal of helping DeFi startups, unblocking any hurdles they are facing, and bringing DeFi to a billion users around the world. DeFi Alliance runs an accelerator program and helps startups in a variety of other ways. Before working at DeFi Alliance, Qiao was a founding head of product at Messari. Messari is a crypto data and research startup. Before that, he was a trader. He has been trading for almost 10 years in New York and Chicago.
When asked what his eureka moment was when he decided he had to get into bitcoin/blockchain, Qiao stated,
“I learned about bitcoin sometime in 2011. I learned about some asset (bitcoin) that crashed from $1.00 to $0.10, which got me excited because I love volatility. Unfortunately, my friend talked me out of investing in it back then, so he’s not my friend anymore. I got in a year later, and frankly, I didn’t quite get it back in the day. I just thought it was interesting and novel, and if it worked it probably had a chance to do 100X or 1,000X from that point. So that’s how I got involved in the Bitcoin community, and it’s been fun.”
Where do you sit on the spectrum of Bitcoin and Ethereum maximalists and what are your thoughts on this whole maximalist movement?
“You probably have been following what happened on WallStreetBets recently. The WallStreetBets activity followed the same ethos as crypto. It’s the anti-establishment movement.
That story just shows how important decentralization is across a variety of areas and sectors of the economy. Today a bunch of brokerage accounts or brokerage firms banned the trading of GameStop and AMC Theatres again, and that was the moment that people should have realized the importance of decentralized finance. Maybe an hour ago, WallStreetBets got banned by discord. Then people realized, even social media needs to get decentralized.
So to answer your question, obviously, I started as a Bitcoiner, but a lot of things can and should be decentralized. That means I’m on the other end, so minimalism.”
If I am a new user, how do I even get started trying out a DeFi product?
“First of all, you need a fiat on-ramp, something like Coinbase. So make a Coinbase account, buy some ETH, buy some USDC, and then install Metamask which is a browser wallet. Then you can send the USDC or the ETH that you acquired from Coinbase to MetaMask. From there, you have some money to play around with, so go to UniSwap (Uniswap) and buy some coins, or go on Aavesome (Aave)and do some lending or borrowing. Go to yearn.finance (yearn.finance), deposit some USDC, and earn some yield.
Once you go through all these products you will realize that DeFi seems like a game, but if you look at the history of technology, every single world-changing technology started as some sort of a game. Over time, as the technology improves, the cost goes down. With DeFi, the cost of transactions right now is so high because it’s relatively new, but I would still recommend that people at least try it out, even if they don’t complete transactions on a super regular basis.”
What would your tip be for someone new to the crypto space?
“It’s good to invest in different assets, but you don’t have to invest a lot in the more volatile ones. Just invest a little bit if that’s all you are comfortable with.”
What would your tip be for a seasoned crypto investor who is trying to generate more alpha?
“I would say the options market and DeFi are both inefficient. The most stress-free way to look for alpha is to buy the DeFi majors and hold them while understanding that you will have to hold them for long periods of time since they are extremely volatile.”
Stay tuned for the NEXT edition of our Digital Asset Education Series. Learn more about Digital Assets and enhancing returns by joining our newsletter: https://vegaxholdings.com/
As always, please reach out to us with questions, comments, and suggestions for topics/speakers for our Digital Asset Education series! info@vegaxholdings.com
DeFi Alliance: https://defialliance.co/
DeFi Alliance is a consortium of organizations in the crypto space with the shared goal of helping and unblocking hurdles for DeFi startups, and providing an avenue for the mass adoption of cryptocurrencies and DeFi. The organization offers a startup accelerator program that includes assistance from seasoned mentors, access to networking opportunities with successful founders and VCs, and more.
VegaX Holdings: https://vegaxholdings.com/
VegaX Holdings is the “BlackRock” of the Crypto Asset Industry. We provide investors globally with one-stop access to sophisticated and secure crypto asset management. The asset management industry is the largest in the world representing more than $80 trillion dollars in investments through investment products like ETFs, mutual funds, and indices that outperform investments in individual stocks. VegaX is the first to create similar investment products for Crypto providing investors outperformance versus buying individual cryptocurrencies. On average, investors buying VegaX products make 30% more profit versus just holding Bitcoin.
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