Welcome back to ApolloX's interview series, where we gather crypto insights and thoughts on our exchange from some of the biggest crypto influencers to share with all ApolloXplorers.
Today’s post features Jeong Mo, Founder of leading crypto community Dynasty in Korea. Jeong Mo founded Dynasty in 2018 and now leads a thousands-strong community. Today, Dynasty has become the crypto community of choice among Korean traders. We thank Jeong Mo for kindly agreeing to this interview.
What do you think is the appeal of crypto? Any hot topics that you have been following lately?
Unlike traditional financial markets, crypto has many derivative use cases from single items (coins). For example, if you buy Samsung Electronics stocks, there’s little you can expect from holding stocks except for dividends and getting qualifications as a shareholder.
On the other hand, using Ethereum as an example, not only can you hold it on an exchange, you can also access NFTs and other areas such as DeFi by transferring the virtual assets over the Ethereum network from the exchange to a personal wallet. If you think about the APR that occurs in DEX or lending protocols on Ethereum, you can clearly see how this is different from the APR that occurs in the asset class of the traditional financial market.
In traditional financial markets, including bank deposits, even when considering the stock market and the P2P lending market that maintains a high APR, the highest APR is merely at 10% before tax. This is a significant difference compared to the APR that DeFi markets currently offer to consumers.
In addition, when individual investors approach the Korean stock market, generally direct stock investment only earns them profits when the market prices rise except for indirect investment through some ETFs. Although the futures market is getting more active than before, this is a futures market using an index. Individual investors cannot directly take a short position on the stock.
On the other hand, in the case of virtual assets, various exchanges like ApolloX support futures trading of contracts, providing an opportunity for individual investors to earn profits even if the market is going down.
Therefore, I believe that the appeal of virtual assets comes from their differences as compared to traditional financial markets.
How has your experience been like using ApolloX and what do you like about ApolloX?
I really enjoy trading on ApolloX's app and website.
All interfaces provide a user-friendly experience and support almost all functions supported by other exchanges, while allowing users to have fun and earn profits at the same time through events such as Draw&Earn and the Retroactive Mining Program. In the case of Draw & Earn, you can participate in minting NFTs without paying real money. It is attractive to be able to access additional NFTs or rewards accumulated in the pool without incurring any loss.
Also, while most exchanges have declared their withdrawal from the Korean market and are removing Korean language support for Koreans, it is attractive that I can continue to trade in my mother tongue on ApolloX.
What is a new feature you want to see implemented on ApolloX in the future?
Access to various pairs and a system (two-way trading, Stop Limit based on Close Price, etc.) that can actually realize the trading strategy traders envision.
Furthermore, ApolloX has started to support DEX, and this is a different path from other existing centralized exchanges in this area. I hope that it will be fully decentralized to live up to the name of DEX. It would be even nicer if it became the first exchange that encompasses both CEX and DEX, maintained by governance by forming a community through its own token, rather than simply supporting buying and selling on the network.
What was your best trade on ApolloX (% ROI or in USDT profit)?
Can I keep it a secret for now? :)
What are the top tokens that you currently hold or trade?
I have $BTC, $ETH, $DOT, $REEF, $SNX, $ROSE, $ORCA, $DERC, $BRKL, $TRIBE ,and $1inch.
Do you follow any other crypto KOLs? If yes, what do you like about them and why? Feel free to @ their channels!
I am following @Enjoymyhobby and @Fireantcrypto.
Enjoy My Hobby offers timely and informative news. Fire Ant Crypto keeps abreast of new projects.
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