Interview with Calvin Thong, Founder of xWin




Since the beginning of the year, the native token of the largest and most used crypto exchange in the world – Binance – has skyrocketed by 374.51%. We can point out a few reasons behind this startling dynamics of Binance Coin (BNB): first, an escalating institutional interest in everything that has to do with decentralized money, and second, PancakeSwap – the first billion-dollar project implemented on Binance Smart Chain, which immediately pushed the latter to the volume-based second rank among all decentralized exchanges (DEXs). While Binance by itself is a China-based exchange and a primary target for investors in Asia, the interest towards decentralized finance (DeFi) a long time ago overgrown geographical boundaries and transformed into a global movement.

At first, this may seem like an alarming signal for banks. But, on a closer inspection, it appears that investment guru across the world have long ago realized the advantage of succumbing to the force larger than themselves instead of trying to fight it off with bare hands. Holding this view, JPMorgan, first vivaciously rebuffing Bitcoin, has finally expressed positive approval in its regard. Next, another America’s titan Goldman Sachs is reviving its cryptocurrency trading desk, while Citigroup is positively commenting on Bitcoin’s role in international trade. All of this points to the shifting preference that in many ways comes from the realization of hopelessness of an individual actor, no matter how grand and powerful he is, against the global force-majeure of Covid-19.

And, although the stock market may infuse optimism pumped by the quick vaccine spread, in the long-term the market is doomed to recede. The disappointing signs of this are shown by the central banks who are struggling to support the whole system from a wreck-down. These institutions are, however, helpless to combat against the giant figure of the workplace drop-out, and the intuitive, although not explicitly said, lack of resources to safeguard into long-term economic recovery. All of this comes down to one implication: sooner than later, the new economic order will be created, and we will have to embrace this.

Keeping that in mind, that’s worth giving a forethought on how it’s better to stay on the surface while the old world is crashing down. One way to do this is to stay at the forefront of innovation. While blockchain still causes a lot of frowns from the population poorly familiar with it, numerous experts point out that it’s going to be the next big thing in the post-pandemic future – not only in finance but in all spheres of human life. However, it’s worth pointing out that the financial sector will undergo the most transformations. The testimony of this is platforms like xWin, who have come up with features of financial management intertwined with decentralized protocol technology.

By building its solution on Binance Smart Chain (BSC) network that supports all the BEP20 tokens, xWin aims to achieve the maximum functionality combined with minimal investor worries. The platform builds its core proposition around asset management and trading vaults, that bears a strong resemblance with what a traditional asset management firm may come up with. Thus, xWin takes one step closer towards making a DeFi-lookalike to banks and financial institutions, which constitutes a major milestone in the progress of this fast-growing niche.

Now, it’s time for an interview with the founder of xWin. We discussed many concerns surrounding the niche, talked of what may help companies to withstand the turbulent times, and looked at how the future will look like after the pandemic comes a la fin.


Thank you for joining me for a talk. How do you see DeFi’s evolution in a year’s time – and, if you don’t mind sharing with me - what tokens do you personally support?

From the number I can see in DEFI space, the total lock value exponentially grows from few hundred million dollars in beginning of 2020 to now around 40 billions less than a year. This is a significant growth. To me, MakerDao, Compound Finance and Uniswap had been great impact to the whole DEFI industry. They bring the decentralized financial ecosystem together with the strong pillar and connected the dots in decentralized financial system. MakerDao, introduced stable coin collateralized backed and live on blockchain. Compound finance protocol facilitate the lending and borrow with algorithmically determined the interest rate based on supply and demand of each token. Uniswap, replaced the traditional order books execution with autonomous liquidity pool to facilitate the token exchange. Going forward, I expect to see more evolution in area of investment including asset management, credit & lending, infrastructure such as layer 2 protocol and cross chain.

Personally, I prefer to have various of token that I believe they made significant impact to the community. It is not easy to hand pick any single good token from investment perspective. It is easier for beginner or any investor to have the exposure to the DEFI market. It means, getting an index token will let you to have exposure to the any good DEFI project out there. That is one of the reasons we build xWIN which provide different type of indices to make the investment easier than ever.


From your personal perspective, in what way will an average investor be affected by the wave of DeFi transformation? What can the companies do to embrace this change before it's too late?

Defi is transforming the way of how traditional financial business is conducted now. Defi is still infant stage of development and there will be more and more decentralized financial service to be introduced in various financial sectors. Number of Defi users will continue to grow exponentially.

Companies who is unable to disrupt itself will be obsoleted from the business. Looking back at the history, When the iPhone was released, Nokia knew they were in trouble. In just 6 years, Nokia’s market cap fell 90% until they were gobbled up by Microsoft. Digital camera is another good example. Kodak was crushed just less than a decade just becasue they couldn’t see how massive the wave was until it was too late, and refused to compete with their own business model.

Companies should continue to encourage innovation within the organization such as encourage intrapreneurship at organization with such simple steps as establishing where employees can go with their ideas. Reward experimentation even failure as well as create a supportive atmosphere in which people feel free to express their ideas without the risk of criticism or ridicule