Solfate
A conversations with Armani Ferrante, co-founder Backpack Exchange and MadLads.
Summary
Armani Ferrante discusses the genesis of Backpack Exchange and the challenges of building an exchange. He highlights the importance of compliance and the operational aspects of running an exchange. Armani also shares the vision for Backpack and how it aims to bridge the gap between traditional finance and the crypto economy.
He emphasizes the transparency and auditability of the exchange, as well as the focus on corporate governance and accountability. As well as the need for a circle of trusted individuals to share the burden of decision-making and responsibility. Finally, Armani highlights the role of regulators in ensuring the integrity of any exchange, crypto or otherwise.
We discuss the importance of exchanges as bridges between the traditional financial system and the new crypto ecosystem. He explains the challenges of operating in the US and the potential partnerships with licensed companies.
Our conversation touches on the capital requirements and fundraising efforts of Backpack. Armani shares the company's approach to source availability and open source. He also reveals the timeline for the launch of Backpack Exchange and expresses his focused mindset during this crucial moment. The conversation concludes with a call to action for listeners to try out the exchange beta and provide feedback.
Takeaways
- Threshold Network combines Keep and NuCypher to enable threshold cryptography and custody of ECDSA keys off-chain.
- tBTC uses Bitcoin's scripting language to create a bridge between Bitcoin and other chains.
- Settlement times for tBTC range from one to two and a half hours, depending on the amount being bridged.
- tBTC is available on Solana, allowing users to purchase and trade the token on decentralized exchanges.
- Threshold Network has the potential to expand beyond Bitcoin and support decentralized custodial escrow systems for various assets.
Find Armani and Backpack online
- Follow Armani on twitter - @armaniferrante threshold.network
- Visit the Backpack Exchange website - backpack.exchange
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