Building Trust in DeFi: An Unwavering Commitment

Building Trust in DeFi: An Unwavering Commitment

In the crypto world, talking about trust is key for the sector today, especially since the most talked-about news globally is about mistrust and misinformation. That's why trust is more than just a word: it's the pillar on which the successful future of any project is built. As CEO of NuDEX, and as a crypto user for many years, I've learned that credibility isn't achieved through a logo or a pretty website; it's earned day by day, with firm decisions, solid products, and a genuine commitment to the community.

For example, for any exchange, whether decentralized or not, the first step toward building trust is offering a quality product that not only meets market expectations but exceeds them. It's also essential as an exchange to establish trust with traders and users in all the processes carried out within the market: price quoting, slippage, liquidation wicks, margin calls, fund security—everything in an exchange requires the transmission of security and trust. When money is involved, the demand must be perfection.

Therefore, for any project and for the future entrepreneurs who read this, this means prioritizing security, transparency, and innovation in their companies. Every line of code, every update, and every feature must be designed and thought out with the protection of our users and ensuring a safe experience. For example, within my team, we are committed to conducting exhaustive testing and constant optimizations at every stage of our project's development, all to ensure that each transaction is executed with the greatest possible precision and reliability, from the purchase and sale of an asset to the simple act of connecting your account or entering your email address on our platform.

A piece of advice I've learned over time and experience, both as an employee and a user, is: Don't release a product that doesn't meet the highest standards, because once you establish trust with someone, you're guaranteed that person's loyalty for life, but once you break that trust, it's impossible to regain it.

However, technology alone isn't enough. Trust is also forged through open and honest communication. With my teams, we practice complete transparency at work. I like to establish non-hierarchical relationships. I encourage my teammates to view their team leader, or me, as a colleague they can lean on to solve problems.

For example, in communicating with our community, we're able to establish a very direct connection, where we can discuss everything from updates on our development to strategic decision-making. We keep our community informed every step of the way, and this is reflected in the support we receive from them. When we face challenges, we don't hide them. For example, when we made the difficult decision to postpone our launch, we did so by prioritizing product safety and quality. It was a show of respect for our community and our commitment to offering them the best we can.

Therefore, for me, the fundamental pillar in building trust in any project, and even more so in a crypto project, is the community. Community is everything these days. The community is more than an audience: it's an active and vital part of the company. I believe that a strong and engaged community not only supports growth but also actively contributes to its growth. That's why we encourage participation, listen carefully to every comment, reward the most contributing and participating users, and recognize their time within the community.

Another key factor in building trust is consistency. It's not about running a one-off campaign, but rather a continuous effort, maintaining consistency over time between what we say, what we do, and what is seen in the product. This process over time requires keeping promises, taking responsibility for what happens, and always being willing to learn and adapt. Building trust in DeFi is a daily challenge. Even if you're ranked #1 in the world, you'll always have the challenge of taking that trust to the next level. I'll say it again: once trust is lost, there's nothing you can do to rebuild it.

Finally, I want to thank those who are part of our community. Surely many of you are reading this, and I want to thank you for trusting us.

I will surely continue writing more columns with ideas and lessons I have collected over the years. If you want me to talk about a specific topic, let me know and stay connected.

Caria Wei. 

CEO, Nuvo