The host of the podcast, Andres Meneses, talked to the founder of Tea-Fi, named Matan. Matan is a 24-years old chairman whose story starts in crypto as a teenager after googling: “How to make money online”. When he started in crypto, the price of bitcoin was as low as USD 6,100.
After one and a half years in, he started managing a private VCs handling 10M dollars in 7 months. He then started working as an analyst at a private investor group, he had the opportunity to look at hundreds of projects, and understand how their utility and tokenomics worked.
He then told how the idea of building Tea-Fi got started: “When you help a lot of people get into the crypto world, you can see the difficulties over and over again”.
Buying a new token typically involves several steps and multiple platforms. This does not make DeFi easy to access for newcomers, explains Matan.
Users first purchase Tether (USDT) to buy Ethereum (ETH) or Solana (SOL) on a centralized exchange, for example. They then transfer the ETH to a wallet like MetaMask, which can connect to decentralized exchanges (DEXs) such as Uniswap to swap ETH for the desired token.
A common issue arises when users lack enough ETH to cover gas fees, which are volatile and can be high, potentially halting transactions. This often forces users to repeat the process of buying more ETH on a centralized exchange and transferring it again.
Additionally, users frequently need to consult various external tools (e.g., CoinMarketCap, CoinGecko, DEXTools) to gather necessary information and make informed trading decisions, adding to the complexity of the process.
It is a long process with several hiccups on the way, according to Matan. “You don’t need to invite the wheel, you just need to do what 40 other guys said they would do but a little bit better, because you know what you’re getting, the whole piece.”
The term “user-friendly” is not usually associated with DeFi. In this scenario, Tea-Fi aims to change this by creating an intuitive and accessible DeFi hub that makes it easy for everyone, including beginners, to participate in the decentralized finance ecosystem.
It should be noted that the company currently employs around 40 people, for example, in the Devs, Marketing and Business Development departments.
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