Where is Polygon in three years, Garry Kruglyakov

With the DeFi platform built on Polygon GoGo protocol Garry Krugljakow wants to revolutionize the crypto industry. The former “entrepreneur in residence” at neobank N26 is now focused on bringing millions of users to the DeFi space. In an interview with BTC-ECHO, he explains what Polygon Tools should change and how he celebrated the merge.

BTC-ECHO: How did you celebrate the Ethereum merge?

Garry Kruglyakov: Actually without alcohol, but in the live stream with ETH-Global, Vitalik and the rest. (laughs)

BTC-ECHO: How do you feel about Proof of Stake?

Garry Kruglyakov: In principle, this is of course the right step. With the transition in the works for a long time, Ethereum and Ethereum solutions like Polygon are future-ready.

BTC-ECHO: By switching from Ethereum to PoS, the network should scale up. Doesn’t the polygon as a scaling solution make it at least partially obsolete?

Garry Kruglyakov: No, on the contrary. This makes Polygon even more scalable and transactions even cheaper. In any case, it will still be a while before Ethereum PoS will offer transactions that are as cheap as Polygon. Since this won’t happen until next year, Polygon continues to have a very strong use case.

With “zkEVM” and “Polygon Supernets” own scaling solutions were brought onto the market, which in turn can scale the entire Ethereum ecosystem more. These solutions offer Ethereum more privacy and encourage adoption. If large companies or corporations want to bring part of their backend to the blockchain, layer 2 to layer 2 is interesting – like the Polygon Supernet. This is of course a very fine thing to promote general mass adoption.

BTC-ECHO: What is the GoGo DeFi protocol?

Garry Kruglyakov: Ultimately, GoGo is a decentralized, open source-based protocol that goes in the direction of asset management. In doing so, it bridges the gap between DeFi and the “normies” who are trying to find their way around it.

BTC-ECHO: Do you own Polygon (MATIC)?

Garry Kruglyakov: As a polygon advocate in the DACH region, of course. Would be embarrassing if not. (laughs)

BTC-ECHO: What is the 0VIX protocol?

Garry Kruglyakov: That 0VIX protocol is a compound fork on Polygon with features such as veTokenomics. Curve has created a very strong utility for the governance token with these tokenomics. At the same time, they have developed a very sustainable token structure.

0VIX’s goal is to be the main money market maker on the Polygon Supernet and the upcoming Polygon zero-knowledge EVM Rollup. This should significantly improve user-friendliness, speed, security and privacy.

BTC-ECHO: What else is being worked on?

Garry Kruglyakov: We’re testing a lot right now. Users can experiment in the beta test and learn the functions of the platform. The big applications, like risk management, are only coming in the coming weeks and months. For example, if one takes out MATIC as collateral for a stablecoin, there is of course a risk of liquidation. 0VIX’s risk dashboard then helps to better manage that position. From what we’ve seen in the market over the past six months, this is badly needed.

BTC-ECHO: Where do you see Polygon in the next 3 years?

Garry Kruglyakov: I see Polygon, similar to the founder, in the top 3 – after Bitcoin and Ethereum. Regardless of stablecoins, these three will be the dominant players. Polygon is strong in both scaling and marketing. The big partnerships with Starbucks, Disney or Meta (Facebook), as well as various other big players are announced almost weekly. Polygon actually seems to be the go-to solution.

BTC-ECHO: How exactly does the partnership with Starbucks work?

Garry Kruglyakov: Customers earn NFTs based on Polygon using points from the loyalty program. The exciting thing is that the user will not have to understand how the blockchain works. The next million users will come to the blockchain and not even know that a blockchain is working in the background. We and Polygon recognized this very early on.

BTC-ECHO: As a former N26 employee, were you surprised when N26 announced it would offer crypto?

Garry Kruglyakov: You can see this trend in many neobanks because they naturally see that customers are showing interest. This is only the first step. I can imagine that one or the other neobank will develop their own solution or even blockchain.