“Opportunities avail but wait for ready hands to grab them.”- Sash Jeetun
A leading fintech platform in the Decentralised Financial sector, Spherium Finance is synonymous with a dignified pioneer in unifying the current scattered DeFi landscape by creating a suite of financial services for a global audience. It is the brainchild of Sash Jeetun, who is known to be a highly ambitious, tenacious and solutions-focused individual, striving to build an eccentric platform, spearheading the cause of decentralization and DeFi.
Mr Sash Jeetun, Co-founder, Spherium Finance is an Anglia Ruskin University Alumni, an industry expert and serial entrepreneur. The leader has been involved in blockchain since 2014 and is a big believer in the power of blockchain technology to solve the current financial imparity. With qualifications in Business Management, International Business and other fields, supported by a vast background in research, advisory, fundraising and assisting bootstrap crypto projects, Mr Sash is already an established entity in the industry. He is an instinctively proactive personality with a positive and innovative approach to challenges. And so far, he has been privileged to lead several entrepreneurial projects in different capacities and roles.
Offering a Complete Suite of Financial Services
Spherium Finance is a DeFi platform that offers a complete suite of financial services comprising a universal wallet, token swap platform, money markets, and inter-blockchain liquidity transfer. This platform will function as a global decentralized financial service provider, extending fundamental financial services to the unbanked.
At the moment, they have four different products which they are rolling out. These are HyperSwap, Spherium Bridge, HyperLend and Spherium wallet:
HyperSwap: HyperSwap is a fully decentralized interoperable platform for swapping tokens using cutting-edge Automated Market Maker (AMM) algorithms that allow liquidity providers to capture profits by reducing the price skew (for an asset in a pool) and bringing the asset price back to the market price. This infrastructure, built on the Ethereum Blockchain and Binance Smart Chain, creates different liquidity pools and will incentivise liquidity miners. Users can add liquidity for any asset pair on HyperSwap liquidity protocols. Additionally, liquidity providers can earn $SPHRI tokens for approved asset pairs. As another advantage, liquidity providers will earn the pool’s trading fees paid by HyperSwap users for swapping tokens. When liquidity is supplied to the pool, the provider will receive special LP tokens which will be proportional to the liquidity they add to the pool. HyperSwap, as a solution, aims to solve four major issues in DeFi. These challenges include impermanent loss, interoperability, high transaction fees and complex user interfaces.
Spherium Bridge: The Spherium Bridge is a dynamic multi-chain bridge addressing the real bottlenecks between different chains and their ecosystems. Currently their bridge resides between the Ethereum blockchain and the Binance Smart Chain such that ERC-20 tokens and BEP20 tokens can be easily transferred across either chain. Moving ahead, the bridge will also integrate Polygon and Avalanche to create more multi-chain indulgence and will eventually transform the really fragmented DeFi space as a whole.
HyperLend: HyperLend is a decentralized lending protocol built to connect lenders and borrowers. The HyperLend money market is a pool of particular assets that algorithmically derive interest rates based on the supply and demand for the asset. Lenders and Borrowers of the asset will interact with the protocol directly in order to earn and pay, respectively, a floating interest rate, without having to negotiate any kind of terms such as maturity, interest rate, or collateral.
Spherium wallet: Spherium Wallet is a non-custodial, secure mobile-first wallet for ERC20 tokens, which will enable our customers to use all the services provided by the Spherium ecosystem at all times from their mobile device. The Spherium team will ensure the safety and security of users’ assets by adopting best practices in the cybersecurity space. Initially, the wallet will be launched on Android devices and later, on IOS devices. The wallet will also have integrations with payment gateways and crypto-to-fiat payment offboarding facilities.
For their outstanding solutions, Spherium Finance has been recognized by many publications. Recently, they were mentioned by beststartup.asia as one of the “31 Top Singapore Financial Exchange Companies and Startups”.
Spherium has an extended use-case and massive DeFi prospects for the future financial solutions. In less than a year, Spherium’s native token, $SPHRI, got listed on several exchanges and coin trackers including Gate.io Uniswap, CoinMarketCap, CoinGecko and several others. They have also introduced their native Incubation and Grant Program to build the biggest cross-chain community out there. Several projects have already been announced and more are to follow with the onset of their cross-chain DEX HyperSwap Mainnet.
Clientele & the Corporate Ethos
The clientele cut across different sectors of the global economy, especially finance and other companies that render blockchain-backed services.
Clients are very vital for the viability of every business. For this reason, they are keen on developing products and solutions that align with customer values. In recent years, the DeFi space has grown invariably and there still exists a lot of complications in terms of sustained interoperability, complex user interface and high transaction fees. Spherium being largely customer-centric, their solutions are built to solve each of these problems strategically and skillfully.
Major Hurdle & The Driving Force
Sash’s primary challenge was bringing growth to a highly competitive industry where everyone is trying to build the next big thing. In the blockchain space, innovations happen really quick and if you miss an opportunity, you might find yourself far behind.
“Getting to the point where I am today taking a lot of hard work and determination. My family was my greatest support when I felt like throwing in the towel. I also drew inspiration from Elon Musk and a few others, especially those who failed and never gave up”, shared the visionary.
Creating a more Balanced and Equal Industry
To contribute to a more balanced industry, The leader advises companies to stay on top of their game and always brainstorm on innovations. This is because the blockchain and DeFi ecosystem is fast-paced. It’s also necessary to hire the best team.
Sash Jeetun’s Daily Routine & Hobbies
Sash Jeetun’s daily schedule is usually very tight. He wakes up at 6:30 am daily, meditates and gets engaged in a series of business meetings. He also finds time to study, he reads lots of books and catches-up on podcasts while executing the day’s work. Coming from a varied field of roles, Sash also manages to touch base with the Developer, Marketing and BD team in Spherium, taking charge of day-to-day activities. At last, he ends his day with a quick call with the founding partners to discuss the progress, vision and the next action plans in the pipeline. The visionary also enjoys watching Formula 1, Badminton, and playing golf in his leisure time.
Words of Wisdom for Female Entrepreneurs
Female entrepreneurs shouldn’t let issues of gender imbalance common in many nations, especially developing countries get to them. They should learn to be decisive and diligent in accomplishing set goals, as well as remember that the sky is wide enough for everyone.
Favourite Book & Quote
One of Sash’s favourite books is “The Greatest Business Decisions of All Time” and “The Big Short”. He loves these books because they give an insight into how the biggest business names, they know of today made decisions that made them prominent.