Decentralized finance (DeFi) is a new way of using technology to manage money without needing banks. According to Market.us, the global DeFi market is projected to grow significantly, reaching a market value of approximately $616.1 billion by 2033. As promising as the future looks, DeFi has some big problems. It is often too hard for most people to understand, and it is not always easy to trust.
We need visionaries to overcome these barriers. They must know the technology and how to make it accessible and impactful. Igor Kuzevanov is one such innovator. Igor creates tools that solve these problems and make technology easier for everyone. Now, he has co-founded SettleTON, a DeFi platform to make diversified investing on blockchain simple and safe for over 160,000 people around the world.
Igor doesn’t just follow trends; he shapes them. His work shows how technology can solve real problems, build trust, and help people in their daily lives. By learning about his journey, we can see how thoughtful innovation drives progress and impacts the systems we rely on every day.
Igor, Congratulations for winning The Open League Hackathon 2024, the biggest competition on the TON blockchain. What made this experience different, and what lessons did you learn from that?
Without mincing words, I can say that the hackathon was really great. Competing with some of the brightest minds in the TON blockchain ecosystem pushed me to think creatively and solve problems under intense time pressure. Our project aimed at addressing the issue of blockchain scalability, which is a major challenge in decentralized systems.
However, what made the experience unique was the collaboration and learning environment. It wasn’t just about competing; it was about exchanging ideas and innovating together. What I learned was that a good solution is the result of a combination of creativity, technical skill, and teamwork. So, the hackathon reminded me of how much you can achieve when you’re working with the right people and focused on solving meaningful problems.
Your participation in the hackathon inspired you to co-found SettleTON, a DeFi platform that has grown rapidly recently, gaining 160,000 active users in just a few months. What was your vision for the platform, and how did you make it a reality?
The concept of SettleTON was to bring DeFi to everyone, not just for the tech-savvy. Blockchain technology has immense potential, but its complexity can be a barrier. We wanted to bridge that gap by creating a platform that was both powerful and easy to use.
So, we created the first smart contract on TON that solves a critical task in the DeFi ecosystem by providing an efficient, scalable, and secure method for investing in token portfolios, similar to the concept of the S&P 500. We also invested heavily in designing a user-friendly interface and building a reliable system that could handle large volumes of users. Getting to 160,000 active users so early was proof that we were addressing a genuine problem. It’s the evidence that when you focus on accessibility and trust, you can extend the reach of new technology to a far wider audience.
Having said that, scaling SettleTON has been one of the greatest challenges you faced in your career. So, how did you overcome it?
Every project has its own unique challenges. However, scaling SettleTON in the competitive DeFi space was a big challenge. We understand that blockchain systems can become sluggish as the number of users grows. So, we took that into consideration when designing SettleTON and made sure it would be able to handle large volumes seamlessly. The huge numbers of active users that we gained within a short time clearly demonstrate how reliable and user-friendly the platform is. But the problem didn’t end there. Building trust in a space where so many users have never used blockchain was another challenge. As a result, we focused on making the user interface simple and creating robust security protocols so everyone would be able to use it.
Now, if you were to advise aspiring technologists and innovators, what would you tell them?
First, never stop learning. Being relevant in today’s world means always improving yourself. The second thing is to understand the big picture.The best technologists are those who solve real problems, not just technical puzzles. So, always ask yourself how your work brings value to businesses or individuals. Finally, we need collaboration. Be with people that challenge and inspire you. Innovation isn’t always a solo effort. It thrives on diverse perspectives and collective creativity.
Looking ahead, what are your priorities, and how do you see blockchain technology evolving?
At the moment, global expansion is our priority for SettleTON. We want to make decentralized finance accessible to everyone, irrespective of their technical background. Then for blockchain technology, I think it’s moving towards higher integration and automation in recent times. Again, it’s equally evolving from a niche technology to a mainstream tool. So, everyone should embrace it because it’s going to change a whole lot of things in the world of finance pretty soon.
