Beyond Borders: Electra’s Bold Strategy to Conquer Emerging Markets and Reshape the Future of Decentralized Trading
In Brief
Arseniy Voronkov, Chief Marketing Officer of Electra, discusses the platform’s innovative features, liquidity approach, multi-chain strategy, and future plans, highlighting its potential in the DeFi space.
In this interview, we sit down with Arseniy Voronkov, the Chief Marketing Officer of Electra, a decentralized trading platform that’s making waves in the crypto world. With a rapidly growing community of over 2.5 million members and innovative features like AI-powered insights and SocialFi functionality, Electra is positioning itself as a game-changer in the DeFi space. Arseniy shares insights into Electra’s unique approach to liquidity, multi-chain strategy, and ambitious plans for the future.
Can you describe how you integrate liquidity, leverage, and low fees to create a seamless experience for both beginner and professional traders?
Electra is a terminal that includes DEXs liquidity and aggregation through our own Lumia stream. The Lumia blockchain provides an ultimate unlimited trading experience. When a client deposits money to the terminal and opens an order, it goes directly from the liquidity layer to the market-making in the platforms we operate. We currently work with Google, Binance, and OKX. The market making finds the best relevant price according to the longer or shorter destination. That’s how we achieve one-stop trading.
We offer the lowest fees because we split the commission, which is very close to zero. This allows us to lower our own fees. Beginners can enjoy the Telegram Mini App on their desktop, which will also be integrated with Electra Lite. Electra Lite resembles an innovation per trade, while the Telegram Mini App will be a significant adoption point, especially for the narrative market we’re targeting now.
Your platform operates across multiple blockchains like TON, BSC, and other EVM chains. What benefits does this multi-chain strategy bring to your users?
Actually, our platform doesn’t operate on multiple chains. We have multi-chain capacity for deployment, but it’s on-chain because it’s an L2 ZK Rollup blockchain, which is quite fast. It’s the most advanced and fast blockchain for open-source orders. The multi-chain capacity is only related to deployment, which gives us wider client user acquisition.
Users can connect their MetaMask and Trust Wallet. We’re partnering with Trust Wallet and Bitget Wallet as well. Users can also stay in the Telegram Mini App, trade there, and connect their TON Wallet or TON Keeper. They can deploy USDT on the TON network or even TON, and it will automatically bridge to the Lumia blockchain. This gives clients easy access to different chains. We’re currently integrating BaseC and Lumia, and we’re at TORN deployment. It provides clients with a wide range of deployment options and access to liquidity.
Why do you think TON is so popular right now?
TON is popular because it’s a narrative with massive adoption, approaching a billion users. Our utility token, which we’re currently fundraising for and negotiating with VCs, will be based on TON and BSC. We’re essentially building bridges to the top-performing networks right now.
You emphasized that you have no KYC as a key feature. How do you address concerns about security? Why did you decide not to provide KYC on your platform?
We’re a decentralized exchange, not a centralized one. We don’t have a central office or central governance. People use our platform as a terminal. Since we’re not holding liquidity ourselves, we don’t need KYC. When a client opens a trade, it calls from the liquidity layer on our blockchain, which is connected to Texas. It’s not API trading, as API couldn’t provide the same capacity. It’s all secured because we just need your wallet. You connect your wallet, and you’re welcome to trade.
Talking about your Telegram AI-powered bot, it provides real-time data and market insights. How has this feature been received by the community?
The community hasn’t really experienced these features yet because they’re still under development. Our community has grown rapidly, with almost 2.6 million members in two weeks, and we have about 2 million in our dollar game. Besides AI features, we’ll have algo traders and copy trading.
Eventually, everything in the terminal will be “socialized,” allowing client-to-client interactions. Users will be able to have live streams of their real trades. We’re building an innovative product that hasn’t existed before in the DEX space, taking the best features from CEXs and adapting them to our platform.
Can we rely on AI-generated market insights, or will people tend to trust insights from centralized exchanges more?
It depends on the community, the adoption, and the timeframe we’re going to maintain. As our community grows and we see higher retention and monetization rates from real users on our platform, we believe these features will benefit users. They’ll provide insights and help educate newcomers about the crypto space, potentially preventing them from losing money on risky investments.
In what ways does SocialFi functionality enhance the user experience on Electra?
SocialFi is a big thing for us. We’re making PnLs more engaging with visual representations. There will be live chats, live streams, and everything will be integrated with the narrative of social trading. People can share their PnLs inside the platform without needing to go to Discord or Telegram. For copy trading, you can find traders by their wallet address. We’re basing our business on a community-driven model, and we believe this approach will bring good results.
You claim that you have more than 2.5 million community members. What have been the key factors driving this rapid growth?
The key factor was my GTN strategy, which we launched from our game. However, that’s not the only driver of our growth to almost 2.6 million members. We have more than 400 KOLs who support us and are going to trade on our platform. Our large community came from the top-tier game and our referral system. We’re expecting to reach 5-10 million members by the end of the month.
Where do you see Electra in the next five years? How do you plan to keep innovating in such a competitive DeFi and crypto space?
In five years, we aim to be the number one DEX. We look at the success of existing DEXs that have been stable for three to four years, handling 200-300 million in daily volume. That’s our first KPI target. As we achieve those results, it will become easier to grow further because the market share will shift towards DeFi. Many newcomers prefer to trade with just their wallet rather than registering on a CEX. We’re planning to take over the DEX crypto market.
Do you focus on certain markets, for example, only Europe or only Asia? Do you have plans to also offer your services in the U.S.?
We’re not focusing on the U.S. Our top markets right now are Nigeria and the CIS countries, followed by Vietnam, Indonesia, and the Philippines. We recently expanded into India and are now focusing on the Philippines. We’re targeting emerging markets. We don’t want to work with the U.S. due to tight regulations, and given that most of our C-level team has Russian backgrounds, we prefer to focus on regions that are more welcoming to work with us.
With AI’s increasing influence in financial markets, do you foresee a future where AI becomes even more integral to DeFi platforms like Electra?
I believe that at some point, AI will replace real users to a certain extent, especially in trading. There are already many trading bots, but they’re not very advanced for specific purposes. AI integration will definitely change things over time, but I can’t disclose our specific plans for AI implementation at this point.
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About The Author
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
