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100X.VC Team
Written by various collaborators within Team 100X.VC
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Jan 24, 2023
Topic

Introduction

Recently and quite famously, FTX, a major US crypto exchange and a crypto hedge fund, crashed due to a lack of liquidity and mismanagement of funds, followed by a large volume of withdrawals from rattled investors. The value of FTT plummeted, taking other coins down with it includingEthereumandBitcoin, which reached a two-year low as of November 2022. 

The stunning collapse of the third-largest crypto exchange by volume has sent shock waves through the crypto universe and people quickly realised that they needed an alternative to centrally managed funds which are vulnerable to mismanagement and fraud. 

Decentralized finance (DeFi) is a cutting-edge approach to delivering financial services that does away with centralized intermediaries and rather than depends on automated protocols through smart contracts. The capacity of DeFi to remove middlemen from financial operations has expanded adoption. For the number of advantages that DeFi offers over traditional finance, DeFi as an asset class is attracting a lot of attention and capital. But how will the average Joe research and track all protocols, make investments, track and manage his Crytpo Portfolio?

Here's where Dolf steps in. Dolf is simplifying DeFi for mass adoption.

Dolf is buildinga DeFi discovery platform where anyone can discover and lend through the best DeFi protocol, assess their risk ratings, and transact with utmost ease in a ‘gasless’ and ‘keyless’ self-custodial manner.

They use a proprietary risk assessment framework to risk-rate 100+ crypto assets, 200+ DeFi protocols, and 10+ chains in real time.These ratings help users discover the best DeFi protocols but also help keep an eye on portfolio health in real time through early alerts.

Founders Ravi and Saif  previously co-found and ran a blockchain services company and have a combined experience of 10+ years in blockchain tech and building smart contracts, Dapps, web and mobile apps.Kushal has extensive experience in finance across Investment Banking and Risk Management. All 3 founders are big time crypto nerds and neck deep in the crypto space .                       


Market Opportunity

The total value locked across 127 DeFi protocols as on August 2022 was $67.87 Bn.The global decentralized finance market size was valued at $11.78 Bn in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 42.5% from 2022 to 2030. The acceptance of DeFi (Decentralized Finance) led to a profound transformation in the financial sector, which is one of the primary factors driving market growth. 

100X Thesis

DeFi is tough to navigate for even the more in touch crypto investors. Dolf is looking to simplify this by providing a discovery platform with their proprietary risk rating mechanism for various DeFi protocols, and then moving into a crypto based neobank over time. The team has been working in crypto for the last 2 years and has a great balance of tech and money management. We believe Dolf will be the first choice on ramp into DeFi for all users going ahead also in future. 

Conclusion

The recent FTX crash has highlighted the need for alternative, decentralized options for managing funds in the crypto universe. Dolf is at the forefront of this movement by providing a user-friendly DeFi discovery platform for anyone to discover and lend through the best DeFi protocols, assess their risk ratings, and conduct transactions with ease. With a growing market opportunity and a strong team of experienced founders, Dolf has the potential to become the go-to solution for managing crypto portfolios and navigating the complex world of DeFi. 

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