On November 16, Odaily held an X Space with the theme of The market is recovering, hot spots are rotating, and what opportunities are worth paying attention to to discuss recent hot spots and investment opportunities. Participating guests include Websea COO Herbert R Sim, PFR Capital partner Jayson, veteran players in the currency circle, and Bitduck.eth.
The following is an excerpt from the Herbert R Sim part of the community conversation:
Herbert：Hello everyone, I am Herbert Sim, the chief operating officer of Websea, a digital asset world for young people around the world.
Im also commonly known as TheBitcoinMan - a public figure established in 2016 dedicated to driving the adoption of Bitcoin.
I was the global operations director of Huobi. In February 2018, I was part of the core team that launched Huobi Token (HT), a project that raised $400 million in 13 seconds; I was later poached to become the Chief Marketing Officer of Russian cryptocurrency exchange Cryptology , the company is located in Moscow, Russia.
I am also the founder of Crypto Chain University, the worlds first database for compiling blockchain and cryptocurrency research papers, established in 2010.
Odaily: ETF is expected to bring about a rebound in Bitcoin, and also bring the market into a round of general rise. Many sectors have performed, such as Solana and other old L1, Ordinals ecological tokens, many new Meme tokens, which tracks or tracks are you optimistic about in the near future? project? Are there any other sectors that are currently undervalued?
Herbert：In fact, the increase in the industry and the growth of on-chain funds brought about by the last bull market, that is, the DeFi Summer wave, have actually been consumed since the bearish industry last year. For example, we see active transactions in various sectors. Or the TVL data, which were pretty good before, are not satisfactory. Even though good news such as ETFs have appeared frequently in the past two days, there has been no substantial progress. I think they are not capable of attracting long-term external market increments to the industry or to the chain.
So for me personally, I am more optimistic about narratives that can continue to capture external market increments for the industry. This should also be the next potential narrative direction or long-term trend of the encryption industry. I am also more optimistic about RWA. In fact, RWA has been a hot topic recently. This track is a track with long-term potential. On the one hand, the size of traditional finance is huge. For example, the current market value of the U.S. debt sector alone has reached US$32 trillion. However, the size of RWA U.S. debt is still very small, so there must be huge room for development. Currently, several fixed-rate U.S. bond RWA products, MakerDAO, Mountain Protocol, Angle Protocol, Frax Finance and Ondo Finance, are also experiencing good overall development momentum. Therefore, having some early RWA products as a reference will definitely have a positive impact on the subsequent development of the track.
On the other hand, the traditional world or the traditional financial field itself has a very large user base, and the users themselves have relatively mature investment views. RWA hopes to introduce these traditional investors to the chain. Of course, this process may be relatively long. The current encryption infrastructure is still not mature enough, and the legal system that can support RWA is not very sound.
In addition, I am more optimistic about the DePIN track. I think this field may be underestimated. The previous Filecoin, Arweave, Helium, and Theta are actually representative projects in this field. In fact, crypto investors prefer to look at issues from the perspective of currency prices, but from the perspective of the long-term development of the crypto market, many ideal scenarios are actually inseparable from DePIN facilities. The most representative examples are the Metaverse and so on. Therefore, its value also needs to be reflected in long-term development. Now I have been paying attention to and studying these two tracks that I am more optimistic about.
Odaily: Nowadays, various trading platforms are developing Web3 wallets to grasp the traffic entrance. What do you think are the considerations? Which applications can bring new traffic to the industry?
Herbert：At this stage, the value discovery in the crypto world is mainly based on on-chain behaviors and on-chain applications. Investors, traders or players are more keen to use wallets as the entrance to travel more flexibly in the on-chain world. On the other hand, the reshuffle of the trading platform sector and the new decentralization trend brought by DeFi Summer have made many users more inclined to store funds in their own encrypted accounts, and wallets happen to be a good driving carrier. Therefore, CEX launched a Web3 wallet, which is easier to bind to users. It is not only expected to reduce the loss of sticky users but also to capture incremental users.
Of course, the wallet system must also have its own characteristics or innovations. Take our Websea platform as an example. We prefer the Web3 wallet to serve as a link. For this reason, Websea has launched a dual-account system so that users can fully control their assets. Freely choose between the self-management model and the custody model that enjoys the convenience of CEX, which not only provides flexibility but also ensures the security of assets. The design of this model takes into account users high requirements for asset security, while also meeting the pursuit of operational convenience, allowing users to establish a balance between independent management and custody.
Moreover, our account system integrates with mainstream on-chain wallets to make on-chain and off-chain transfers of funds seamless. Users can enjoy Web 3.0 services without being constrained by traditional transaction models. This dual-account system not only improves user experience, but also provides more freedom and flexibility while ensuring asset security. Users can obtain a seamless experience of fund flow based on this.
Odaily: Some people believe that we are in the early stages of a bull market, while others believe that once the benefits of ETFs are realized, the current rebound will end. What market stage do you think we are in now? What investment strategy is suitable?
Herbert：In fact, the market trend is not clear at this stage. Many investment institutions or well-known investors often say how much Bitcoin will rise by the end of the year or the first half of next year. In fact, this may not have a good basis. It may be the beginning of a bull market, or it may be the middle of a bear market.
Personally, I am actually more optimistic about some Old Coins, especially Bitcoin and Ethereum, and I value long-term value more, so I always use a fixed investment strategy to continuously build positions, maybe every time I invest The funds are not large, but from a few years ago to now, the overall income is actually quite considerable. So I really suggest that fixed investment in mainstream assets such as Bitcoin and Ethereum can be used as a long-term investment strategy, such as formulating a fixed investment cycle, fixed fixed investment amount in a month or a week. In this way, whether it is a bull market or a bear market, you can always maintain a good investment strategy. Average earnings.
Odaily: As a new platform, how does Websea stand out from the competition? What are its unique layouts? Can you introduce it to us?
Herbert：In fact, I mentioned just now that the crypto trading platform itself is a Red Sea market, but how do you look at this? If it only attracts existing users in the industry, then it is definitely a Red Sea market, but the platform itself has characteristics that can attract specific groups of people or capture people from outside the industry. users, then this field is still a blue ocean market. Firstly, we remain optimistic about this, and secondly, we want to build Websea into a unique and differentiated platform.
The young investor group is the main group in the current encryption market. They play a very important role in spreading encryption culture, promoting encryption technology innovation, and cultural innovation. They not only have a unique investment outlook, but also can continue to maintain investment vitality. Therefore, Webseas positioning is to provide convenient web3.0 global ecological digital asset services for a customer base mainly composed of young people. At the same time, we also aim to use services and experiences to create a new crypto asset trading system.
In order to better serve young users, we have a simple and straightforward interface design, and the purpose of building products is a seamless and efficient trading experience, friendliness and ease of use. Therefore, in terms of product design, Websea not only launched the dual-account system introduced above to subvert the traditional trading model, but also launched an intelligent documentary system to simplify professional trading, allowing young people to earn profits with one click. And we also use AI to help users predict market trends, provide users with personalized strategy recommendations, and may even support users in the future to exchange wisdom in an open strategy market. These brand-new functions are currently well received by young users.
We are also actively interacting with young users through social media, gamification elements and educational resources to guide them to understand and participate in on-chain activities. For example, through some team slashing activities, users can participate in games with friends, enjoy the fun of teamwork, and share transaction profits, and the X to Earn mode based on platform currency nesting has been launched, and players can complete corresponding tasks. Receive WBS assets for free.
Another direction is that we hope to extend various digital assets in the form of NFT through the platform account system, thereby entering Webseas social metaverse, entertainment metaverse, and game metaverse. To this end, we have built a decentralized identity system so that users can create their own digital avatars in the social metaverse of Websea and participate in broader community interaction and governance. Users can access various Game-Fi applications through a unified account system, which not only improves the efficiency of asset management, but also enhances users’ social and entertainment experience. Webseas global account application system ensures that every user can find their own place in this ecosystem and seamlessly enjoy the fun of trading and entertainment.
In addition, sharing is also an ecological culture of our platform. 70% of our total WBS tokens are used for community incentives and ecological construction, of which 60% are used for community incentives and 10% are used for ecological construction. This distribution strategy means that users can obtain platform coins in a variety of ways, such as registering, inviting new users, trading, becoming LP, active activities, etc. This incentive mechanism not only increases users loyalty to the platform, but also promotes deeper interaction and interaction between users, between users and products, and between users and the entire ecosystem. And we have also launched a series of destruction plans, including fee repurchases, etc. to promote the deflation of this asset.
Currently, users have good confidence in our platform and WBS assets. On the day of launch on October 9, WBS assets achieved a maximum increase of 1,600%.
Odaily: What is Websea’s recent plans and what measures will it take to attract new traffic?
Herbert：We mentioned above that focusing on young users is one of our development directions, and we have launched a series of youth-oriented designs and a large number of token incentive scenario modes. Of course, in addition to the above methods, the most important method is the follow-up system we launched.
Webseas copying system allows users to easily copy the operations of professional traders. Based on this system, users can select a trusted trader and start copying with just a few simple clicks, without the need for in-depth understanding of complex market analysis. This user-friendly design greatly lowers the threshold for trading, allowing even novice traders to get started easily and enjoy the wisdom and experience of professional traders.
At the same time, users can set the proportion of funds to follow according to their own risk preferences, so that they can not only enjoy the wisdom of professional traders, but also control their risk exposure. The introduction of this system not only lowers the entry barrier, but also provides convenience for users who lack time or professional knowledge and obtain good personalized risk management.
In order to help more capable traders stand out and grow rapidly, Websea has also launched the first BOOST program for traders with orders. According to the rate of return, the traders who apply will have a total of six levels from junior to five-star traders. And enjoy the initial order funds with different values, as well as the profit-to-income ratio. At the same time, Websea will provide a total order fund of 9,800 U per person to traders who meet the standards, limited to the first 50 people. Interested traders can register through the trader page. When applying, please note Apply for Boost Plan in the qualification description column.
