🗻 Over the clouds you fly, as high as Fuji in the sky…
There are two ways people can go about the world financial systems losing their credibility nowadays. The first one is to simply do nothing, wait until something breaks, and let the leaders who put us in that situation try to fix it. The second one, which we have chosen, is to face off the problem and help pave the future world of decentralized finance. Akin many of you readers are doing right now.
Our modern “garage” story started in January 2021.
Each of us signed up alone to the “MarketMake” DeFi ETHGlobal hackathon hoping to meet a team and sharpen our developer skills. At the time we had no idea of what the outcome would be. We were all from different countries and we had never met before, but our values and ambitions were the same. Big thanks to the organizers from ETHGlobal and all sponsors who made this story possible!👏
Due to the virtual nature of the event and our geographical locations, the only way to meet was over the internet using video calls and collaborative apps. Through our virtual meetings we found out that our skills and experiences in different domains and industries were perfectly complementary.
The first week of the hackathon we had several brainstorm sessions trying to find a challenge in DeFi we could solve and build our project around it. In the process, we came out with many ideas we discarded or invalidated. These ranged from solving the impermanent loss issue, aggregating rate oracles and even creating a derivatives market. In a moment of serendipity, we conceived the Fuji idea after we realized that many of the existing protocols were focusing on yield optimization while no known protocol was publicly working on the opposite, optimizing the borrowing market.
This was an excellent starting point for our project and concluded that as the decentralized finance market grows and matures, we can offer users in the DeFi space a way to minimize their operational costs when borrowing crypto assets.
At the end of the hackathon, we were a bit disappointed not being part of the finalists, but we won a better way.
In fact, after the hackathon we received many encouraging messages pointing out that a project like Fuji is a much needed lego piece in DeFi. So you, the community, boosted our confidence and gave as the motivation to continue working together to grow Fuji from a hackathon project to a finished product.
Our team vision is all about climbing the Fuji mountain step by step, and contribute on building the financial ecosystem of tomorrow, which should be easy to understand and use, transparent to all, and accessible for all people around the globe.
All that being said, take your seat and buckle up for what is coming next, we’re in DeFi after all! 🚀
The community is growing fast and we thank each of you for following Fuji’s story.❤️
At this stage, your support and feedback is appreciated so we can improve our product and understand your needs better.
We are open to discussion so do not hesitate to mention us on social networks.
P.S. For any specific questions or inquiries, ping Edgar on Telegram at @edgarillo .