An Exclusive Interview With Devilcrypto.io

By Stan Peterson
Published November 10, 2021 Updated November 12, 2021
devil

An Exclusive Interview With Devilcrypto.io

The digital currency ecosystem is seeing a lot of innovation and evolution today, with so many trends being gaining ground by the day. While legacy protocols continue to serve users across the board, it is becoming very obvious that more protocols are needed to cater to the growing demand in the ecosystem. Devilcrypto.io is one of the emerging DeFi platforms that seeks to lend its uniqueness to the growth of the industry, and we sit with the core developer to gain more insight into what the platform is bringing into the DeFi ecosystem. Sit back and let’s gain some insight together in this short interview.

Q: The digital currency ecosystem, and especially the DeFi world is fast expanding with new protocols being introduced daily. Please tell us about the Devil Token and how your project fits into today’s DeFi narrative?


The Devil Token (or Devil Crypto Project) is all about helping bring the rapidly expanding DeFi world to the next phase – adoption & interoperability. It’s a very exciting time to be in DeFi, and while we’re growing like wildfire every day, with new projects coming out faster than anyone can count, we’re still experiencing many of the same problems. For new and experienced users alike, DeFi can have issues with accessibility, security, and token/crypto asset management that limit one’s capacity to get even more involved in the space – or to enter the space at all.

We’re looking to change that. From making it easier to buy and sell crypto with fiat currencies; make secure transactions or deals with people through an escrow service; or access your tokens and crypto assets (such as NFTs) across your wallets, accounts, and even across multiple chains; DEVL will be tackling all of these major challenges.

By tackling these challenges, we’re not only making life better for the average DeFi user, but opening the floodgates to a whole new type of user, who at this point in time are too afraid or find it too difficult to participate in DeFi. This will benefit our project of course, but it will actually benefit many of the projects in the space as well.

We’re not just looking at improving today’s DeFi market, but we’re focused on helping set up tomorrow’s DeFi market, which will be more diverse, robust, and with far more investor interest.

Q; While going through your roadmap, I saw your plans for DeFi, however, without much clarity. Can you please tell us what ways you believe your NFT offerings will outcompete the current options around today?


While our project hasn’t ruled out eventually having an NFT marketplace, we feel there are a lot of projects already in the space that are doing a stellar job. For the goals of our current roadmap, creating NFT offerings directly would be outside the scope of our current vision. Our project will have an NFT creator component, but that is simply through one of our innovations – Devil Deals.

Devil Deals will be one of the first, and certainly most robust, escrow services in DeFi. Essentially, it’ll allow people to either make secure transfers (which require dual permission to send) or a way to basically sign “contracts” with each other to promise to complete certain tasks, uphold certain agreements, or provide a particular asset without having to totally trust the other person – by implementing an escrow mechanism. This would be revolutionary for many service providers and artists, such as NFT creators, who are commissioned to produce works. We will be partnering with some NFT creators, and even maybe some NFT marketplaces, to promote how the escrow service can help their existing projects.

Our projects always come from a place of not how we can crowd the market, but how can we improve it? How can we append the wonderful innovations already taking place every day?

Q: Any plans for Devil Crypto to incorporate support for DeGames?

Yes, though not in our 2021-22 roadmap. Our roadmap is hyper-focused on creating a suite of tools that makes DeFi easier and simpler to use for all people – including our own wallet – DEVL Wallet. However, one of our team members, Diabolus, has extensive experience in the video game industry. If you consider the work we have planned out on our roadmap,one can only imagine the potential of our project getting involved in games once those developments are complete.

So while this isn’t included on the current roadmap, as we are committed to our current mission, it’s certainly being very seriously talked about and examined.

Q: Innovations and evolution remain the fundamental hallmark of the digital currency ecosystem. How flexible will you say your protocol is in embracing new innovations that are not spelled out on your roadmap?

Extremely. There’s a lot to unpack when talking about our protocol. A major part of our plan within the next year hasn’t even been mentioned yet – fully decentralized governance. At the very foundation of our project, is a commitment to the principles and values from which DeFi came: autonomy, privacy, freedom, collaboration, and decentralization.

In our roadmap, we plan to found a DAO (decentralized autonomous organization), which will slowly take over all aspects of the project, including future decision making and the possession of assets. This will be huge, especially if you consider we are working on developing our own fiat-to-crypto gateway and wallet, both of which would ultimately be governed by the DAO. 

Our token will launch with three dApps: a yield farm for staking, a gateway to buy DEVL with BNB and buy BNB with fiat currencies, and a governance dApps that allows holders to vote on when we can make changes to the contract. We’re seriously committed to development, and we’re proving that by launching not with promises, but with dApps that everyone can use the second our token is in the open market. 

This ecosystem is designed modally, so it can be broken apart and upgraded without destroying the token or forcing any messy redeployments. DEVL is designed to always be the key to a kingdom of ever-growing and advancing DeFi products. 

Q: Does your token have a deflationary feature? If yes, please explain how it will impact your tokenomics. If not, would you incorporate it if the community members demand it at a later time? 

Deflationary features are not everything investors believe they are. Mechanisms such as burning in theory increase price, but in reality do very little for price pressure most of the time. This is because markets are fluid, and the weight of market demand is so significant compared to anything the token can do with just a fraction of its revenue, that you can see this doesn’t always help compared to some other incentive mechanisms.

Our token has a supply that is lower than many projects – 666,666,666 DEVL total – so it wouldn’t be out of the realm of possibility for this token to be worth $0.10, $0.50, or even $1.00 in the future. We feel those are really healthy numbers to be at around their comparable market caps. 

Our token focuses on utilizing two proven incentive mechanisms and one new one. First, all holders receive a 3% reflection of DEVL for just holding; second, 3% of every transaction is deposited into liquidity; third, 3% of transactions goes towards a feature we call the Devil’s Vault.

The Vault takes that 3% tax, turns it into BUSD, and sends it to a yield farm that allows holders to stake their DEVL for their share of BUSD rewards. This mechanism not only gives holders an extra income stream, but it rewards them for contributing to price stability by holding their tokens in the vault at the expense of those contributing to volatility. 

Our community and team are very happy with these mechanisms at the moment, but we will always be open to any ideas from the community, including deflationary mechanisms, should it be brought up. This is especially true as we further advance governance and give holders power to make such proposals. 

Q: The crypto ecosystem has a basic underlying tenet to be distributed irrespective of race, tribe, and religious affiliations. How do you expect your project’s ‘Devil’ theme to resonate with users on religious lines? Or are Devilcrypto’s decentralization tenets built to cut off these folks?

There are plenty of products on the international marketplace that use the term “devil” and yet aren’t associated with the devil in the Judeo-Christian religious practices. Common household products, such as the vacuum “Dirt Devil” is an example. I do not feel these products isolate any particular community, or at least not the vast majority the public. I can say proudly that our project is one of the few token projects right now that has a roadmap genuinely dedicated to equity, financial freedom, and democratic functioning. The fact that we’re working on a fiat-to-crypto gateway shows we’re working to provide opportunities for anyone to enter the DeFi space, regardless of where they live or who they are. 

People are always welcome to choose whether they want to get involved in a projectm and all projects have an aspect to them that does not appeal to others while greatly appealing to some. For instance, Elon Musk can at times be controversial to some communities, and yet we have plenty of tokens in the DeFi space dedicated to him and his milieu. 

The fact that we are being asked this question indicates that it’s a successful choice. At launch, those totally new to the crypto space will have easy-to-use tools to purchase our token and thus enter DeFi. Those tools will only become more robust and accessible as time goes on. Tapping into that currently under-utilized market requires being recognizable. If someone stops for a second and thinks “what is this token?” or “why is it called Devil?”, then we’re on to something. 

I think our growing community would agree that we are already earning a reputation for being a truly open and accessible blockchain project. We’re approaching every contact we encounter with acceptance, respect, and yes – a little bit of devious humor. 

We believe that combination will make us a leading project in this space. 

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Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Stan Peterson
756 Articles
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.