DeFi Based Crypto Investments With Emily Stork
Emily Stork is a Co-Founder and CFO of Worth The Fight Fitness, also a Principal at Crypto Fun QuoinVault. She is passionate about corporate law, business, finance, entrepreneurship, and crypto, especially smart contracts and DeFi.
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Brett:
I’m excited about our next guest. She’s out of the great state of Colorado. She is going to be discussing things that I’m still learning about and ways to invest in a cryptocurrency that we haven’t thought about. She’s a Co-Founder and CFO of Worth The Fight Fitness. It’s WTFBoxing.com also a Principal at Crypto Fun QuoinVault. Coin spelled Q U O I N please welcome to the show with me, Emily Stork. Emily, how are you doing?
Emily:
Good. I’m excited to be here. Thanks.
Brett:
Thanks for joining us excited to get to know you a little bit more and learn a little bit more about, DeFi-based crypto investments, and what’s happening in that space. But before we get into those details, would you ever listeners a little bit more about your story and your current focus?
Emily:
It’s a little bit all over the place. But I actually started out in corporate law, which I practice for about seven years, and while I was doing that, I just started becoming an investor in cryptocurrency just because it was an interest of mine and especially kind of smart contracts and decentralized finance on the Ethereum blockchain. But I, my wife, and I decided or we decided I decided I wanted to launch a boxing Fitness Studio, and I left my job in corporate law was continuing while I was working on my boxing Fitness Studio to kind of invest on a personal level in cryptocurrency and just get more involved in that space generally, I’m and I sort of realized that like, there was a lot of really good unexploited opportunities, particularly in DeFi and decentralized finance and smart contracts.
I thought, even though I’m already working on opening one business, that, um that this would just be a really good investment for people who wanted to have it kind of almost alternative to a savings account. Because it’s very simple, you really just turn your dollars into US dollar-paid cryptocurrency, and then you become a liquidity provider on decentralized finance platforms, and you can earn fees, and the return is pretty good. I mean, it can be anywhere from, like, 20% to almost like 80%, depending on which, stable coin you’re using. I thought why would anybody even invest in these sort of more volatile cryptocurrencies when you could use a strategy where your principal is much less at risk? Of course, there are so many risks, but that was kind of how I came to decide that I was going to start working on a second venture.
Brett:
We’re gonna dive into that here in a minute, and I love the workout box, he would even call it fitness. How would you classify what is it that you have there?
Emily:
Isn’t like boxing Fitness Studio. it’s like not boxing as a sport, but like boxing for the purpose of the exercise, like everybody on their own bags. Like, we think it’s more fun than running on a treadmill or something like that.
Brett:
I love the fitness aspect. But before we dive into the best-kept secrets in DeFi base investments and be becoming, being able to, I guess, learn to be a provider for liquidity in the crypto space. I want to take one other step back, Emily, I want you to take us back maybe to the earlier days in high school days, maybe the university days, maybe the law school days. You’ve all been given certain gifts in this life and these gifts that are given to us to be a blessing and help to others. People call them superpowers and people call them strengths. I’m curious, what are those one or two gifts or strengths that you believe you are given, and how does that help how you help and bless people today?
Emily:
I would say that like when I get passionate about something, I just spend a lot of time really digging into it on a deep level and investigating it and I think that’s kind of how I came to discover the strategy that I did even though I’m not like technical in any way. I don’t like to know how to program my own smart contracts or anything like that. It’s just me and I guess the other thing would be that I just like to, once I dive into a project, I like to do it at a really, really high level and optimize everything which is very important. business, obviously, but a lot of people don’t do it.
Brett:
I know exactly the fundamentals of certain things. I love that passion, your passion creates a deep level of knowledge and curiosity and then a deep dive into expertise. It feels that and then, also kind of making it as perfect as it can be. Is that a fair summary?
Emily:
Yes, that was better put that in mind.
Brett:
Now let’s dive into exactly using those gifts to help people with DeFi based crypto investments. What’s the number one secret or even step one to understanding how to be a liquid provider of crypto in that space?
Emily:
Well, I think actually what really helps people to understand, you have to take a little bit of a step back and think first about like how centralized exchanges work, basically, like if you want to go and sell an asset, on a centralized exchange, there’s a market maker who will make a market for you and basically sell or buy that asset for you. But on a decentralized platform, the whole idea is there are no third-party intermediaries. As a result of that, what they have kind of as a solution, they have made it they’ve incentivized people to essentially lend out their own cryptocurrency to make a market in different cryptocurrency assets, and the way they incentivize that is by paying you fees, and so that’s where like this return comes from because a lot of people hear, you can make a 20% return on like, basically, what’s the US dollar and there’s got to be some kind of weird scam to it or something like that. But it notes, you’re really just providing your own cryptocurrencies to enable, as liquidity to enable people to make exchanges, and that’s kind of like having that’s sort of the understanding of where the actual return comes from.
Brett:
Let’s pull this out a little bit. I have 25,000 or so and a couple of coins, personally. I show up, Emily, I’ve got like 25,000, it’s been doing pretty good, it’s making some money. But I’d like to put the stuff to work for me and start making some cash flow, some interest. What steps one, two, and three?
Emily:
There are a few steps. First of all, most people’s cryptocurrency is something like Bitcoin or Ethereum, you can actually do this strategy with those coins. But since we’re talking about using stable coins, what you would need to do first is obtain some actual stable coins, those are things like USDC, USDT, DIA, there’s many of them. You can find a list of them and you can obtain those on centralized exchanges like Coinbase, and then after you have your stable coins. What you would do is go to a platform like AAVE, CURV, YEARN like these are big DeFi platforms where and you would put your di USDC, USDT, whatever it is into their smart contract, and then you would begin to earn fees on it and you would be able to withdraw it whenever you want. If you want to withdraw it the next day you can I mean? Probably YEARN is the best one that I would recommend because they kind of have automated it so that you can kind of get the highest return without you having to go in there constantly and harvesting the fuse yourself.
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