An interview with Rudolf Medevdev, CEO of Ternion – on how to make the best exchange
Tell me about your career / work prior to Ternion – have you always been an entrepreneur?
Before I founded Ternion I was involved with every aspect of the financial industry.
I started with FX trading when I was about 18 and then thanks to my university professor I switched to stocks. After reading way too many books about legendary New York commodities traders, I decided to try out being one myself. So I jumped into futures trading.
After having done that for some time it was quite obvious that a young guy like myself would not survive long in the futures market, so I switched to becoming an employee of a bank on the side of my trading. Once I gained as much as I could there, I was offered to work for a company that used to set up high frequency trading servers in Moscow and London Data Centers. I learned about the infrastructure of having multiple access points for a brokerage company.
Afterwards I worked in an amazing Maltese regulated prime broker which taught me respect towards clients and full devotion towards providing the best experience in trading for a customer with the ability to do everything he wants to do when trading or investing.
Why did the exchange sector interest you?
The exchange sector is by far and away the most dynamic sector of them all. In the beginning I was pulled in by the movies and I thought it was easy money and I was smart enough to make it work (oh boy was I wrong). Truthfully though, I think the challenge of making an exchange that tackles the issues of the cryptocurrency space is exciting for me. If someone wants to make a serious impact in the ecosystem, exchanges is where it’s at.
What are the major challenges facing exchanges in your opinion?
One of the biggest problems that have been plaguing cryptos has been a lack of regulation and licensing. This has led to the current instability and price volatility in cryptocurrencies, which has sidelined institutional money and retail investors.
How do you / Ternion solve them?
By building a regulated and licensed exchange we are already starting off with in built solutions to many problems that exchanges are facing today.
Do you see security as an issue for exchanges? Are you able to access insurance?
Security is for sure an issue for exchanges. Once again this is tied to a lack of regulations and of course improper KYC protocols. In October and November of 2017 the level of cryptocurrency adoption and new investment exponentially increased only to see dramatic pull back over the first half of 2018. This pullback can in many ways be attributed to the hacks that happened at end of 2017 and 2018. The hacks lent credence to the perception that cryptocurrencies were not yet ready for traditional investors.
What kind of support will you offer your customers?
We are offering a 24/7 customer support. More important is a comprehensive knowledge base and direction given to new cryptocurrency adopters. We are instituting the latest KYC and AML protocols.
Why did you decide to go the ICO route?
We are a blockchain related company and we don’t have blue blood or come from a major corporation. Our team is made up of self made innovators who want to build something that will be meaningful to the community and to a wide range of people. Funding via an ICO is a bold move towards transparency and proving that you are able to withstand the stress that is happening during the process. It’s a big point that tests you and proves if you deserve to be a market player or not.
Why do you see decentralisation as key?
Decentralisation allows for more market players, faster transactions, and increased transparency. All of these are key going forward in what is fast becoming a very different financial ecosystem across the world.
How will you maintain liquidity in your exchange?
We are doing this through the Ternion Liquidity Fund. The fund supports two business models and forms the backbone of the Exchange and the Payments Processor. The fund is also responsible for buying back the tokens – utilizing a quarter of the company’s profit and burning them in order to combat inflation. The fund also stores another quarter of accumulated funds to have available liquidity for the future global expansion of Ternion.
Explain how you will use the Ternion growth capital, the liquidity capital and the R&D capital?
The Ternion growth capital will be used to expand Ternion’s activity across globe. The liquidity capital will allow the clients of Ternion to always have the ability to receive the w/d on time. And the trading activity to always satisfy the needs of the maximum amount of clients out there.
The R&D capital will be used to continually develop the platform’s infrastructure. We want our platform to be user friendly for our customers, which includes a fast and smooth UX experience.
For more information, please visit the website