From Blockchain Builders to DeFi Innovators: The Story Behind FrenDeFi

Dmitry Tolok and Volodymyr Kostanda, the duo behind Primex Finance, are launching FrenDeFi, a one-stop DeFi application designed to make decentralized finance accessible to everyone. Ironically, their journey started back in 2017. After years of developing infrastructure for other blockchain projects, Maker is finally focusing on making DeFi an easy experience for the average user. FrenDeFi integrates lending and staking, yield farming, cross-chain swaps, and perpetual trading in one simple to use application.

A Foundation in Blockchain Development

Tolok and Kostanda's collaboration began in 2017. They soon established a blockchain development agency. Their agency brought us a wave of new Layer 1 blockchains, DeFi protocols, smart contracts, and infrastructure supporting our industry.

They helped architect the protocols that under-gird Polkadot, Cosmos and Dfinity. That wealth of experience gave them crystal clarity about both the challenges and the possibilities that decentralized finance offered.

"When you build an application that touches wallets, off-chain logic, and multiple chains, you need security at every layer." - Tolok

Identifying a Gap in the Market

Aware of the increased difficulty of entering the DeFi space, Tolok and Kostanda wanted to offer simple, easy-to-manage access. They found that their user base was drying up. The overwhelming, fragmented, and intimidating DeFi landscape pushed many users back to the caveat emptor world of CeFi.

"We saw how complex it was becoming for everyday users." - Kostanda

Tolok and Kostanda combined bridge, DEX, lending protocol, and staking service on one intuitive platform. This motivated us to create FrenDeFi. The platform’s goal is to remove as much friction as possible and to create the easiest DeFi platform for the end user.

By September 2021, they raised their first round of capital. That crucial inflection point catalyzed their journey from a service-oriented company to a product-focused startup. Now, they are all-in to enjoy their vision of a simple, seamless DeFi gateway.

Introducing FrenDeFi

FrenDeFi’s goal is to bring the most powerful aspects of DeFi together into one easy-to-use app. The platform’s features include lending, staking, yield farming, cross-chain swaps, and perpetual trading. It’s purpose-built to be gasless and easy for beginners.

"Now it’s about giving people the tools to actually use it." - Kostanda

The native currency of the ecosystem, the PMX token is core to FrenDeFi’s ecosystem. It powers staking rewards, fee discounts, exclusive access to yield opportunities, protocol-driven incentives and buybacks.

"This isn’t about building one more protocol. It’s about building the gateway to DeFi." - Tolok

Security and Future Growth

Given security risks’ critical importance in the DeFi space, FrenDeFi is joined by Resonance Security. This collaboration provides comprehensive security auditing and ongoing monitoring to keep users safe.

"We were very impressed with the thoroughness and professionalism of Resonance Security. It’s a partnership we plan to continue as FrenDeFi grows." - Kostanda

Underlying infrastructure for DeFi is finally robust. Now, the new battle lines are drawn around creating elegant interfaces and tools that will lead to mass adoption.