Ukrainian Companies in the Global Cryptocurrency Market
It seems that 2024 can rightfully be considered the year of crypto, at least due to Mr. Donald Trump, who has begun accepting donations from supporters for his presidential campaign in bitcoins and ethers. In reality, the financial market, which has recently not only been observing but also gradually adding crypto accounts to its assets, is preparing us for the inevitable. That is, the addition of numerous strange symbols and notations representing cryptocurrencies and tokens to national and international currencies.
Does the Ukrainian crypto community have a significant influence on global financial reform processes? Yes, and in this seemingly chaotic web3 space, it is building projects that cater to both big money players and are very accessible to ordinary users. Some of these projects are worth considering from the perspective of market study, some in the context of recent news, and some simply because you can install them on your smartphone and take the first steps into the world of crypto.
Ready to Fight
Photo: Serhii Lapin, CEO and founder of the project and Oleksandr Usyk, Co-founder, Boxing World Heavyweight Champion: WBA, IBF, WBO, and IBO
The most current crypto project now seems to belong to a Ukrainian, who has been the talk of the world for the past few weeks. After winning the title of undisputed heavyweight champion of the world, Ukrainian Oleksandr Usyk has made headlines in all global media. He took eight championship belts after his match against Tyson Fury in Riyadh, Saudi Arabia, achieving a feat last accomplished by Lennox Lewis back in 1999.
Ready To Fight (RTF) is not just an investment toy but an innovative platform that the legendary boxer constantly attends to, making decisions on further development steps, partnerships, and other key issues.
The project was built as a SocialFi-type platform aimed at helping athletes (both amateur and professional) interact with sparring partners, opponents, agents, managers, and other professional services in a transparent, open, and secure network to support their careers.
It also allows athletes to easily connect with their fans and monetize their careers, supported by their own RTF token for all transactions. Since May, the RTF token has also been traded on global exchanges.
Launched on November 14, 2023, Ready To Fight received positive feedback from the boxing community, establishing partnerships with key industry entities, including the World Boxing Council (WBC). To date, the app has over 130,000 registered users, including more than 10,000 authorized boxers and their managers. Boxing legends like Mike Tyson and Amir Khan have joined RTF as brand ambassadors.
"Today I am a world boxing champion who started his journey from a modest training base. I am well acquainted with the challenges that await young athletes on this path - challenges that more often can break than help become a future champion. Such a platform could democratize our sport and open doors for talented boxers from all over the world, wherever they live, regardless of their background and financial capabilities," says RTF co-founder Oleksandr Usyk.
The main current task of the platform is to increase its user base and add new features. The platform aims to help not only boxers and their fanbase but also training gyms, shops, and equipment manufacturers, nutritionists, and sponsors. Another important component is the development of its own token. For example, one of the token application functions, SubRing, allows users to effectively invest in their favourite athlete through online ratings.
Solana
Photo: Anatoly Yakovenko, Co-Founder of Solana Labs
Perhaps the most well-known project involving Ukrainians is the "hyper-optimised" and "ultra-fast" blockchain. Anatoly Yakovenko, a Qualcomm developer from San Diego, along with blockchain co-founder Raj Gokal, aimed to launch an equivalent of the Nasdaq stock exchange on a public network.
"In 2017, I had the idea of creating Solana," Anatoly recalled at the Breakpoint conference. "I had literally two cups of coffee and a beer, and at four in the morning, the idea struck me." It took two years of development before its official launch in March 2020, when the world was experiencing the COVID-19 pandemic. The platform saw significant success and community support, though Yakovenko acknowledged a fair share of luck.
"I would like to say it was all brilliant, but we didn't raise enough money to implement all the possible features. Many of our competitors raised ten times more than we did, literally hundreds of millions of dollars," Yakovenko noted.
By 2021, Solana recorded a significant influx of capital amid the bull market. In November of the same year, the native token SOL reached an all-time high of $250. As of now, the token's value has increased by 4300 times.
In April 2023, the project made a bold statement by releasing the first crypto smartphone, Saga, integrated with the Solana blockchain. "This will allow blockchain transactions and managing digital assets such as tokens and NFTs to be done from a smartphone," Yakovenko said at the presentation. However, the $1000 price tag, the same as the latest iPhone at the time, hindered mass demand, although it did boost media visibility.
Currently, Solana, already the fifth largest in terms of trading volume, might be next in line for scrutiny by the U.S. Securities and Exchange Commission (SEC), following its predecessor and competitor, Ethereum. This could potentially pave the way for more public projects, and who knows, the idea of a crypto smartphone might turn out to be visionary.
Kauri.Finance
Photo: Oleksii Pavlov, Founder
Kauri.Finance combines elements of traditional banking services with the capabilities of a financial crypto network. Essentially, it allows its users to seamlessly interact with cryptocurrencies within the realm of traditional banking, literally. For instance, users can use ApplePay and GooglePay integration to make purchases at supermarket checkouts or transfer dividends from crypto trading to their regular bank accounts.
"We believe we are addressing two tasks," says founder Oleksii Pavlov. "Firstly, it's the ability to use cryptocurrencies in everyday life. And secondly, we're returning control of funds to their owners, essentially making the use of these funds safe, comfortable, and simple."
The interface of the app confirms this, resembling ordinary banking apps that facilitate straightforward transactions. Additionally, the list of currencies includes more relevant ones such as BTC, ETH, and TON. The company's main achievement, having transformed from a few thousand dollars into a banking turnover in seven years, is its existence, and it has ambitious goals for the near future. Among them are a referral program, fee reductions, and the development of a full-fledged banking structure.
Everstake
Photo: Serhii Vasylchuk, Founder and CEO
As the name suggests, Everstake is about staking, which essentially involves entrusting one's funds and receiving interest. Here, both the company and its clients must have a high level of expertise. Everstake is primarily a validator with the largest number of users, or delegators, in the world. They have 735,000 delegators across 77 blockchain networks.
Currently, Everstake has access to assets worth $4.8 billion and is rightfully considered a provider of top-notch staking services to both institutional and retail clients. Additionally, Everstake acts as operators and supervisors in networks, creates innovative liquidity products for staking, and invests in promising early-stage blockchain startups through Everstake Capital. Successful investments include Solana, Wormhole, Metaplex, Pyth, The Graph, and others.
Regarding philanthropy, Everstake has raised over $60 million in crypto donations to aid Ukraine through the Aid For Ukraine fund and has made a video clip about it.
"I believe that the main characteristic any company in the blockchain sphere should have is responsibility. Not only to its clients or even employees, but also regarding the vision of the future that this company builds as part of a wider community," says Serhii Vasylchuk, founder and CEO.
"It may sound audacious that the future is built by our hands, but it's true. Your decisions should also be guided by your vision of the ideal future, which you share with everyone else. And this is the fundamental principle we adhere to at Everstake."
In 2024, Everstake is focusing on three key directions. The main strength of the team lies in technical expertise, which means investing in cutting-edge technologies, security protocols, and infrastructure improvements that form the basis of a sustainable Web3 ecosystem. Developing open-source solutions, educational initiatives, and technical support make Web3 accessible to everyone. The company is not just investors; they are builders who seek out and collaborate with projects that share their passion for technical excellence and have the potential to revolutionize the decentralized world.