Meet the Advisors — Aaron Choi | Crypto is Money and Your Money Should Be Able to Work For You
The first cryptocurrency, Bitcoin, was invented back in 2009. That was just the beginning though, and nobody really knew about Bitcoin until 2013. Additionally, no one even thought that it might become the best cryptocurrency to invest in. Then, financial journalists were starting to seriously consider whether it could replace safe-space investments like gold.
Later, we found two kinds of people in the crypto world. People who are looking to ride the highs and make money speculating on different coins and the people who truly believe in Bitcoin and the potential of blockchain which will transform the global financial industry and much of the economy itself. Mr. Aaron Choi is one of them.
Aaron is the VP for Kava Labs (DeFi for leveraging and hedging major cryptocurrencies). He is also an Advisor for FinNexus and former VP for BTCC International. DAOventures is honored to get him as an advisor who gives advice and indirectly leads the core team. Today, we will try to know more about him, his career, and his experience in the crypto industry.
It’s been almost a long time, you are in Crypto. Can you please share your experience of the journey to gradually become one of the successful persons in the blockchain industry? What are the secrets behind this?
“Actually, I have been in crypto for over 7 years now. I first heard about Bitcoin in 2012. Crypto has been incredible and I am fortunate to experience the growth of crypto from such an early position. I think having a passion for this industry is what brings success, and having the desire to keep on learning more about crypto is critical, as this industry evolves so quickly. I came from a gaming and advertising background previously, but I decided that I wanted to jump into crypto professionally because I really wanted to work on projects and companies that could change the world.”
DeFi shows exponential growth in recent times. What are your thoughts on DeFi?
“I think this is just the beginning for DeFi. We currently have around $30B in Total Value Locked (TVL) across all of DeFi. The entire market for crypto is over $1T. I think this year we might be able to lock up to 10% of the total value of the market. That would mean at least $1B at current values. The current phase of DeFi is building out the financial primitives that future DeFi apps will utilize.
Can you please share something about Yield Farming or Liquidity Mining? Do you think cryptocurrency can become a source of passive income for the people who are on it?
“I think farming is an amazing tool when used properly. It is a great way to fairly distribute tokens to users that provide value to the apps. It also helps with incentivizing usage of dapps. I see cryptocurrency providing many different avenues of income, instead of just sitting in cold wallets. Crypto is money and your money should be able to work for you.”
Why do you choose DAOventures to be an advisor? How do you envision DAOventures will evolve over the times?
“DAOventures has an amazing team and they have focused on providing simple products to users that allow them to easily get started with DeFi. DeFi can be fairly complicated, and by lowering the barrier of entry for users, DAOventures is able to attract more users and capture value by connecting these users to different services across the ecosystem, ultimately providing the users with higher returns at lower risks.”
What is your advice for upcoming Crypto startups, ICOs, and investors?
“My main advice would be never to give up on your passion. There is so much opportunity in the crypto industry, and so many people that want to help change the financial world to include innovative and borderless technologies, connecting the world at an even deeper level.
My advice for startup founders is to really widen your network and try to connect to as many people as possible when the industry is still growing and not when it’s already huge.
For investors, my advice is that there is never a shortage of projects in crypto. Make sure to keep your bar for investments high as your investment capital will never be enough to invest in all the companies or projects you want to.”
DAOventures is a DeFi robo-advisor and automated money manager platform. Imagine “Robinhood for DeFi”. It is our mission to make DeFi simpler, accessible & inclusive. We believe in creating a simpler, more accessible, and more open world that is permissionless, inclusive, and guided by our DNA of continuous learning, integrity, and transparency.