Yellow Network's Decentralized Trading Platform and Token Release - Interview with Alexis Serkia
Interview with Alexis Yellow: Revolutionizing Crypto Trading with a New Paradigm
Sit down with the charismatic CEO, Alexis Yellow, and delve into the innovative crypto project, Yellow, that's aiming to shake up the industry.
Hey Alexis, what's good?
I'm great, thanks! Excited to chat about Yellow and where we're headed in the world of crypto.
So, tell us a bit about yourself and your journey into the world of crypto.
I'm a tech enthusiast with a background in software engineering, having worked at the European Space Center early in my career. My crypto journey started quite unexpectedly when an old school friend reached out—he was working at Goldman Sachs and introduced me to Ripple, the first crypto project I ever worked with. That experience opened my eyes to the immense potential of the space. Despite initial skepticism, I saw real innovation unfolding in the world of crypto.
What inspired the creation of Yellow?
I've always been captivated by Satoshi's original vision for Bitcoin—a decentralized system where trust isn't a prerequisite. This ideology strongly influenced my thinking, and in 2018-2019, I decided to start Yellow, eventually merging with a French exchange technology company called OpenWare to create Yellow Network.
In simple terms, what is the purpose of Yellow Network?
Yellow Network is trading infrastructure for institutions that allows them to trade directly with major players like Binance without the need for trust. To make this possible, we're utilizing a unique model of trustlessness based on state channels.
How does this trustless system work?
At the core of our trustless approach is the use of state channels. These channels represent a radical departure from traditional blockchain systems like Bitcoin or Ethereum, as they enable instant, peer-to-peer trading where settlement happens in real time. Unlike traditional blockchain systems, we don't rely on tens of thousands of nodes to validate every transaction, which would be far too slow for high-frequency trading.
Can you give us a practical example of how this system works in action?
Let's say you buy a Bitcoin for $100,000 and it gains 5%. With our system, the $5,000 profit is immediately transferred to your wallet. The trade is settled instantly with cryptographic proof, all without relying on trusting the other party. This approach is not only efficient but also helps maintain security and fairness in the system.
You mentioned smart contracts, such as ClearSync. What role do they play in this trustless system?
ClearSync is a smart contract we've developed to address cases where a counterparty refuses to settle. If such an issue arises, ClearSync steps in to arbitrate the dispute and ensure the rightful party receives what they're owed. This mechanism ensures that our trustless system is still robust in the face of bad actors who attempt to defraud others.
Is your system compatible with flash trading?
No, our system is about peer-to-peer trading, where profit is transferred instantly between parties without the need for flash trading. Our focus is on swift, trustless transactions that can happen in real time.
What are the benefits of this trustless system for crypto traders?
Well, for one, it makes transactions faster and more efficient than ever before, as profits are settled instantly. Additionally, it removes the need to trust the other party to settle correctly, giving traders more peace of mind in their trades.
Are there any plans to support stablecoins in your system?
Absolutely! We're currently working with several stablecoin issuers to create partnerships and potentially invest in Yellow. Our system is flexible enough to accommodate stablecoins as collateral, making it an even more attractive choice for traders.
How many people are working on the Yellow project, and what type of transactions does it currently handle?
We're a team of over 50 people globally, and despite not yet officially launching, we've already made significant strides. You can track our activity on our analytics site, BundleBear, where we're the fourth most active app on Polygon and the number one app on Linea despite not being live yet. Once we officially launch, we expect our user base to grow exponentially.
You mentioned Yellow Wallet—what role does it play in the Yellow ecosystem?
Yellow Wallet acts as a Layer 3, enabling users to interact with any chain seamlessly. It supports cross-chain swaps, like moving tokens from Polygon to Binance Smart Chain, with zero fees. Our goal is to make cross-chain trading as smooth as possible by removing friction from the process.
Is the Yellow team planning to monetize this service in any way?
Not directly. The Yellow token plays a crucial role in the network by providing security and ensuring honest behavior among users. By burning tokens when users behave badly, we incentivize good behavior and promote a secure trading environment. The token economy is the foundation of our system, with its utility and adoption by industry players driving its value over time.
When can we expect the Yellow token to become available for trading?
We're planning to launch the Yellow token in the next couple of months. We'll be minting 10 billion tokens, and ideally, we'll maintain that amount in circulation to avoid diluting the token's value.
Will the token be launched with an airdrop or similar method?
No, our focus is on utility-based distribution. Most tokens will be sold directly in the markets where they're used. Unlike many projects, we're not launching with an airdrop. Our core users are businesses and institutional players, so our marketing strategy reflects this B2B focus.
What makes Yellow unique compared to other crypto projects out there?
We believe Yellow is positioned to become the fourth pillar of the crypto world alongside Bitcoin, Ethereum, and USDT. By prioritizing scalable, trustless, high-frequency trading, we're filling a critical gap in the industry. Additionally, we're making our technology open source, ensuring that the entire crypto community can benefit from our advancements in trading infrastructure.
I think the approach we're taking—state channels for speed and smart contracts for resolution—will redefine how trading infrastructure operates. It's not just about building a product; we're introducing a new philosophy for how decentralized systems can function with greater efficiency and utility.
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- Alexis Yellow, CEO of Yellow, shares his journey into the crypto world, sparked by his encounter with Ripple.
- Inspired by Bitcoin's decentralized nature, Alexis founded Yellow Network in 2018-2019, later merging with OpenWare to create the Yellow Network.
- The purpose of Yellow Network is to provide institutional traders with direct access to trade with major players like Binance without relying on trust.
- Yellow Network uses a unique trustless system based on state channels that enable instant, peer-to-peer trading with real-time settlement.
- Unlike traditional blockchain systems, this system does not require tens of thousands of nodes to validate every transaction, making it more efficient for high-frequency trading.
- An example of the trustless system's functionality is buying a Bitcoin for $100,000 and instantly receiving the $5,000 profit if the price increases by 5%.
- In cases where a counterparty refuses to settle, Yellow's ClearSync smart contract steps in to arbitrate and ensure the rightful party is compensated.
- The Yellow system is focused on peer-to-peer trading and does not support flash trading.
- Benefits of the trustless system include increased speed, efficiency, and peace of mind for traders, as they do not have to trust the other party to settle correctly.
- Collaborations with stablecoin issuers are in the works to make the system compatible with stablecoins as collateral.
- The Yellow team consists of over 50 people and has already amassed significant momentum despite not yet officially launching.
- The Yellow Wallet, a Layer 3, facilitates seamless cross-chain token swaps with zero fees.
- The Yellow token, intended to maintain network security and encourage good behavior, will be monetized through its utility and adoption by industry players, driving its value over time.
