Can the cryptocurrency market develop by changing into extra approachable? That’s the query entrepreneur Ox Bid requested when creating her new challenge. Realizing the recognition of memecoins amongst laypeople who’re in any other case unfamiliar with cryptocurrencies, she got down to create a product that appealed to newer buyers.
The end result was the crypto buying and selling app Bolide, a platform that seeks to democratize entry to onchain buying and selling. Launched simply over a month in the past, Bolide stands out for its user-friendly interface and a deal with the choice memecoin market — which is ideal for individuals trying to put money into enjoyable initiatives with no prior crypto data.
This text appears into how the lately launched Bolide app helps increase the crypto world by interesting to wider markets.
Ox Bid: An Early Crypto Fanatic
Previous to funding Bolide, Ox Bid was already knee-deep on this planet of crypto, having invested in Bitcoin again in 2012. Impressed by its decentralized nature, she delved deeper into the know-how and developed a number of profitable startups, together with a buying and selling bot for the blockchain-based social media app Pal.tech and a decentralized yield aggregator that reached up to $14 million in TVL.
These endeavors taught her and her crew how to develop good contracts and cross-chain bridging methods, however in addition they taught her how to profile and cater to completely different buyer profiles. Seeking to develop a product tailor-made to onchain investing, she reached out to crypto merchants and consultants for deeper insights into the market’s difficulties in increasing. This research allowed her to pivot her subsequent challenge towards fixing these points.
In parallel along with her present position as CEO of Bolide, Ox has develop into a longtime voice within the crypto area, talking at occasions like Zebu Dwell and Token2049. She additionally recurrently organizes meet-ups to teach newcomers and potential buyers in regards to the prospects of the market.
A Consumer-Centered Strategy to the Memecoin Market
Beneath Ox’s management, Bolide seeks to handle one of many fundamental issues of the crypto business: inaccessible investing platforms. Despite the fact that apps like Coinbase and Kraken have considerably crammed this void, they fail to incentivize long-term investments amongst non-crypto lovers. Bolide goals to fulfill that want.
However what units Bolide aside from different buying and selling apps is its deal with the rising memecoin pattern. In recent times, meme-based investing has come to enchantment to retail buyers for its extremely speculative nature with the potential for important positive aspects. Simply final March, the memecoin market cap elevated by over 17% in 24 hours, and outstanding currencies like Dogecoin and Pepe constantly rank excessive within the high 100 tokens by market capitalization to this present day.
By leaning into this market, Bolide lets customers dabble in fashionable memecoins at reasonably priced alternate charges and low gasoline charges. Aided by a easy and intuitive interface, customers can high up their Bolide pockets by means of offchain financial institution transfers or onchain deposits of stablecoins like USDC. As soon as their pockets is funded, customers can shortly set up their portfolio and profit from unique options, together with common crypto airdrops.
Bolide additionally hopes to assist customers make well-informed funding choices by gathering important data about every memecoin. This knowledge consists of every coin’s high merchants and holders, shilling ranges, safety measures, efficiency metrics, and any related offchain hyperlinks. With quick access to such useful data, customers could make safe investments with full transparency.
Turning Bolide into the Robinhood of Crypto Investing
A month after its App Retailer launch, person response to Bolide has been extremely optimistic. The platform has already reached a buying and selling quantity of over $157,000, with a mean of 13 trades per person and a mean commerce worth of $30. By interesting to a much less tech-oriented market and making buying and selling instruments extra accessible, Bolide seeks to develop into the default mainstream crypto app — much like Robinhood.
Trying ahead, the Bolide growth crew is at the moment engaged on incorporating social parts to show the app right into a SocialFi product. This would come with options like a feed of onchain actions from associates and followers. The ultimate purpose is for individuals to have interaction with the crypto world in the identical approach they do with social media, constructing communities of market lovers with related pursuits and discovering new funding alternatives.
Altering public notion of the crypto world is a driving aspect in Ox Bid’s and Bolide’s missions. By bridging the hole between consultants and common folks and making distinctive funding alternatives out there, Bolide exhibits how crypto will be not simply worthwhile however enjoyable and interactive, and it seeks to make this rising market accessible and rewarding to all.