According to Twitter, international derivatives service platform BitWell announced that Jeff Young, the founder of Block Vision Capital, will serve as director and global CEO. On June 24, Block Vision Capital had announced an investment in BitWell, and Jeff Young served as the chief product and technique advisor.
BitWell stated: “We know Jeff Young has abundant experience in the financial derivatives field and the digital asset industry. Investors and the founding team highly recognized Jeff as he put forward a lot of valuable thoughts during his tenure as the chief product and technique advisor. Jeff Young’s appointment as director and global CEO was recommended by investors and was unanimously agreed by our founding team. We believe that BitWell will make better products led by Jeff Young in the future, which will be recognized by the market and users, and will also contribute to the digital asset derivatives market. “
As for the appointment, Jeff Young said: “I am very happy to be recognized by BitWell investors and its founding team. In the future, I am going to be responsible for global development strategy formulation and product optimization of BitWell. We are aiming to follow CME and become the No.1 platform in the area of crypto derivatives. Security, fairness, and transparency are our philosophy. BitWell will instantly introduce more and more users-friendly products, so stay tuned!”
When talking about why BitWell launched the world’s first DeFi option, Jeff Young said: “The innovation of DeFi is also the innovation of financial derivatives. DeFi is efficient and low-cost based on the needs of users for financial services. This matches BitWell’s vision of providing users with more efficient, easy-to-use, and low-cost open financial products. BitWell’s DeFi option products can satisfy users’ investment needs for DeFi with high efficiency and low cost.”
Meanwhile, Jeff Young also claimed that BitWell will soon launch a liquidity mining plan. Users can earn platform tokens for free by providing liquidity to the platform or using relevant products and services. Platform token holders can participate in construction and governance of the BitWell communities with rewards in the future. Specific rules of the liquidity mining plan will be publicly announced in three days and will be officially launched soon.
As a former core member of Binance, Jeff Young was deeply involved in product construction at the early stage of Binance and was fully in charge of product perspectives of Binance Exchange, Binance Research and Binance Info. He helped Binance become the world’s largest digital assets trading platform in less than one year, daily trading volume is as high as 10 billion US dollars, and the Binance platform token BNB has risen from 0.15 US dollars during the public offering to 39.59 US dollars, increased more than 260 times.
It is worth mentioning that Jeff Young was responsible for Tencent’s product strategy and data operation system. Under his leadership, DAU exceeded hundreds of millions and MAU was 350 million. When Jeff Young was in charge of mobile products during his early tenure at Sina Finance, he was leading the product design and users operation teams. Leading the development of the first domestic trading system for Hong Kong and US stock markets, as well as the access and deployment of various financial derivatives such as stock index futures, and the implementation of various financial derivative products such as the Shanghai and Shenzhen 300 stock index futures in cooperation with the China Financial Futures Exchange, Jeff has made great achievements in financial derivatives.
Block Vision Capital was founded by Jeff Young. It is mainly aiming to increase holding of high-quality blockchain assets and support new blockchain projects, enhance the project’s strength of operating capital, and work with project teams in community construction, product development, ecosystem development and other aspects.
The digital asset derivatives service platform BitWell is headquartered in Singapore. It has a decentralized team composed of international elites from Europe, America, Asia Pacific and other countries and regions. The core members come from Morgan Stanley, IBM, Paypal and other world-renowned financial institutions as well as technology companies, members in the Asia-Pacific region come from leading Internet companies such as Tencent, Baidu, and Sina. Many of them have multinational work backgrounds and are deeply involved in the field of financial transactions on Wall Street. They owned rich practical experience in blockchain asset transactions. The genes of cross-industry integration have created a fantastic team that perfectly matches the digital assets industry.
BitWell previously launched the world’s first DeFi options project MakerDAO (MKR) on August 10, only 3 days after this launch, MKR’s call option for this week achieved a rise of more than 150 times, getting extremely high attention and extensive media coverage.
On August 25, call option for this week of NEST which is the third DeFi option project on BitWell, reached a rise over 350 times, once again composing the myth of wealth.