 Yes All right. Thank you for the introduction and thank you everyone for joining the web three product showcases So my name is Henry Eminem. I'm head of commercials at Deseret, which is a Finnish based crypto credit company our vision is to provide most transparent secure and regulated crypto yield products in the market and Yes, and Today is quite Interesting day to discuss about crypto credit market in general as we all know basically what the market has been going through During the recent weeks. I want to take this opportunity to tell you how test rack is basically solving some of the key challenges in crypto credit market and what test rack is doing in a very exciting and fast-growing decent rollers finance space So Test rack we have been founded already five years ago, which basically makes us kind of like a dinosaur in the crypto space We are focusing on providing financial products for crypto institutions that can provide the services for the end Customers as a B2B to see model We have a wide range of products with I will tell you soon a little bit more Ranging from crypto lending, which is a centralized product to more these around the products being a staking and liquidity Providing to decent rise finance applications We are regulated by the Finnish FCA since 2019 which covers basically all the products that we are providing for the customers So About the problem So I think we are all aware of the same challenges that crypto space has basically been facing Throughout the years that that the market has been existing Satoshi's vision while basically developing Bitcoin was that it should be become a payment solution But that's basically something that we have never or we haven't seen yet to realize The second challenge is that during the crypto winters and the bear markets that we are going through We don't see a lot of trading basically capabilities or demand for users as a use case And as a third one there is a massive lack of Financial products available for the users to basically make benefit for the cryptos that they own So these basically where the key problems for us when we started developing our products Because there are a lot of people with crypto assets, but basically nothing they can do with those assets So what was our solution? So basically test rack started creating a network of centralized crypto players of which have a lot of users with the crypto assets on there on the wallets doing basically nothing What we wanted to provide for these users in crypto exchanges or neobanks or asset managers We wanted to provide them secure way of generating rewards for the assets that they own Those three products that we released earlier this year Where the centralized lending product for the market makers as a first one, which is actually super super Interesting product when we are going through the market shake-ups at the moment Because most of the crisis that we have seen now deriving from alameda fdx genesis Gemini the largest crypto players in world Are basically all deriving from the facts that the user money where deployed to hedge funds that the hedge funds We're using the user customers money to betting on the price developments of the cryptos And that's something that the market makers don't do So the product in much much low risk because the market makers by Neutral or by now nature don't bet with the price developments of the assets Then the second product is the staking which is pretty straight or fairly straightforward And then we provide liquidity or provide the capabilities for the users To provide liquidity for the defi applications and as a return they can get rewards All this is done securely transparently so the users know where their money is basically invested and the partners being for example crypto exchanges The benefit for them is to basically gain higher customer retention as their users actually have a use case for the cryptos they own How this works in practice is that basically the users on our crypto exchange partners Platforms can for example select their assets. Let's say one of the assets being Ethereum They can select what kind of investment products they want to Utilize and Basically deposit the money from the exchange and the exchange can provide the solution for the users by using our earn API platform Which give them basically opportunity to track the deposits interest accruals etc. And all the money movements or asset movements I do done through blockchain so Basically, I wanted to make a deep dive today to Also the defi applications in more details because that's basically the fastest growing segment Especially now since we have seen the market shake-ups in the centralized industry happening So in defi defi is fairly new concept. It was introduced roughly two years ago for wider audience so defi basically means that we build financial applications on top of blockchain and by using basically By using basic smart contracts those can Define the exact financial transactions For the users. So basically everybody knows how those products works And what it means by that we have been building the application top of blockchain It means that the financial applications are available for everyone They are basically permissionless and they are composable and the composable is the thing that we build application On top of the previous layers of the other applications This means that the market is super efficient Compared to on the bottom of the slide that we see what is happening in traditional finance Traditional finance is super concentrated on the large to big to fail companies. It's super expensive way of doing transactions So what we believe and what we have been seeing for example last Roughly three weeks ago JP Morgan did their first defi transaction. So basically a Bond move on the transfer by utilizing Bolligan network and utilizing our a smart contract. So these kind of kind of happenings are testimonial for the defi and Will be the first steps towards mass adoption in defi So what is then desirax role in defi? So we basically provide liquidity for all these protocols to basically function Because the protocols cannot function without liquidity. So we provide or give the users Basically capabilities to provide liquidity for the protocols, which we have gone through And we have done a due diligence for the protocols to limit basically the technical risk of users losing their assets and As every turn the users will get rewards from the protocols So basically desirax is Providing services across defi staking and centralized lending and how we see the future Developing is that we want to become and be the most reputable trustworthy credit market participant and Provide transparent secure products for the end users What are the key milestones that we see that needs to happen before the mass adoption? The first being we believe we need more regulation in the market to protect consumers and institutions as well FDX which still last week was 30 billion dollar company lost basically all of their users money last and this week So we need regulation for the market to avoid that kind of things happening We also need enhanced risk management practices for across all the market participants Which is something that has been a backbone of desirax from the beginning and In the defi side we need more transparency on what are the incentive models in these very complex Defi protocols so people understand how those basically work And we also need some regulation in the defi segment as well before institution can actually enter to that market With all these milestones as she achieved hopefully within the next five years or so we will see the mass adoption Basically across institutions and end users to come reality And that's also the time for desirax when we see that the credit market will actually boom and grow exponentially in the coming years So, thank you everyone for listening and enjoy your day at slush And if you want to know more about test rack just give us a message and yeah, thank you everyone