Cobinhood DEXON CEO Popo Chen Interview Highlights: 26-Year Old Founder’s Project
An Interview With Popo Chen, The 26-Year Old Founder And CEO Of Cobinhood And The DEXON Project
Popo Chen, CEO and Founder of Cobinhood, recently sat down for an exclusive interview with Ricardo Carrasco at BitRates.com. In that interview, Chen explains his background, his current projects, and his future plans.
Cobinhood, for those out of the loop, is a unique cryptocurrency exchange: Cobinhood is a decentralized exchange that charges zero fees. The DEXON Project, meanwhile, is a decentralized app platform that promises infinite scalability through “blocklattice” technology.
Here are some of the highlights of the interview.
Popo Chen is 26 years old. He holds a Master’s in Electrical Engineering from the National Taiwan University and was previously known as the founder of “17 Live Streaming”, an online video streaming service popular throughout Asia.
That service raised $10 million and had up to 5 million active users per day before Chen decided to launch Cobinhood.
Chen Explains Cobinhood’s 10x Margin Trading
Cobinhood offers 10x margin trading. Chen was asked to explain this unique system, including how it works and what fees are involved.
“Currently, Cobinhood’s Margin Trading is in Beta, and we’re providing P2P funding with 3X leverage – 10X is the goal. As for how the process works, trading loan interest is split by the users providing the collateral for margin trading (the P2P part) and the exchange. If the margin trader pays Cobinhood’s portion of the interest in COB, they will get a 50% discount. Also, our risk control system will automatically liquidate all margin accounts that fall below the maintenance threshold.”
Chen Explains Cobinhood’s ICO Underwriting Services
Chen was then asked about Cobinhood’s ICO underwriting services, including what kind of unique features those underwriting services bring to the table.
Chen answered by claiming there are plenty of similarities between Cobinhood’s ICO services and traditional underwriting for IPOs. There are technical differences between the two, for example. However, Popo Chen claims that Cobinhood’s underwriting service is the closest thing the crypto industry has to underwriting.
Chen explains that Cobinhood began offering underwriting services because he believes investors are looking for opportunities to invest in exciting new companies, but they don’t know which projects to trust. Cobinhood’s underwriting service adds an extra layer of legitimacy to an ICO.
Cobinhood launched its own ICO for its COB Token, which is where it gets some of its ICO expertise. How do Chen and Cobinhood choose which ICOs to launch on the platform? He claims that they look at both quantitative and qualitative criteria, paying close attention to the founding team while looking for evidence of credibility and a successful track record.
They don’t just look at the business plan, because anyone can create a good business plan.
Chen Explains the Performance of the COB Token, Including Future Price Valuations for Investors
Chen was also asked about Cobinhood’s native COB Token, including the future valuation investors can expect from the token. How will Cobinhood use the token going forward?
“Cobinhood has steadfastly completed every feature on our original roadmap. There are currently several features that are appealing for COB holders, such as discounted rates for future ICO tokens backed by the Cobinhood exchange. Moreover, as previously mentioned, if a margin trader on Cobinhood pays the exchange’s portion of interest in COB, they will get a 50% discount.”
Popo Chen also mentioned that Cobinhood account holders are able to pay withdrawal fees using COB Tokens. Cobinhood also has an interesting system where any withdrawal fees paid in COB Tokens will not be returned to circulation.
In other words, COB Tokens are similar to Binance Coin (BNB).
What is the DEXON Project? How Does It Compare to Ethereum and Similar Projects?
What makes the DEXON Project different? Chen answered that question by describing the project as “infinitely scalable”, which means “it supports tons of DApps running on the same time without any performance degradation.”
DEXON’s secret to success is its “blocklattice” technology that builds encrypted blocks in a non-linear way. Traditional blockchain technology works in a linear way, while blocklattice is more efficient.
“Also, DEXON will exclusively feature asset exchange protocols so that all transactions and assets on other blockchain networks can be bridged onto DEXON and benefit from DEXON’s high-frequency asset trading.”
Will Cobinhood And The DEXON Project Integrate With Each Other?
Are there future goals to connect the DEXON Project with Cobinhood? Does Chen plan to link the two protocols in the future? Chen claims Cobinhood’s goal is to be a fully decentralized exchange. Integrating DEXON into the exchange will still allow Cobinhood to be decentralized.
Cobinhood is also listed as the exclusive ICO services partner of the DEXON Foundation, an organization that already has a number of VC-backed DApps on board. These DApps will be built on top of DEXON. Overall, Chen sees DEXON as “the cornerstone of our entire ecosystem.” It plays a crucial role in Cobinhood’s development moving forward.
We recommend checking out the full interview with Popo Chen, which you can read here at Bitrates.com: https://www.bitrates.com/news/p/exclusive-interview-with-popo-chen-founder-ceo-of-cobinhood-and-the-dexon-project.