A Message From The CEO – The Genesis Of DexStar

My journey with DexStar started on a sunny day in New York City four years ago – a chance encounter with a friend of a friend led to an exciting conversation about the possibilities of creating a DeFi-driven, “real asset”-backed token that could produce real yield and interplay with the rest of the DeFi arena.

Fast forward to 2021, and our conversation went from an exciting concept to a much more exciting reality. Against the backdrop of the COVID pandemic and delays with the more scalable Ethereum 2.0, the DeFi space catapulted from less than USD 30 million in Total Value Locked (TVL) in DeFi protocols and projects in 2017, to over USD 100 billion in TVL by Q1 2021. Venture capitalists have already made immense profits from early DeFi projects and they are still on the lookout for similar projects that they can attach themselves to – the enthusiasm is palpable, and DeFi memes featuring rockets, Lambos, and the moon are making the rounds once again.

With a background in the mining industry, a focus on structured deals and due diligence inform my decision making. In preparing to enter the DeFi space, I began exploring the legal framework of the DeFi platform with a former barrister who is exceptionally informed on the space. Together, we found it incredibly attractive that the DeFi ecosystem can own assets to provide it with stability and generate a yield. Layering this with other DeFi applications creates a miraculous result.

The first two tokens and the LP / Governance token is just the start. We want to tokenize the world around us and build something truly sustainable.

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Singapore Regulated entity

DexStar Services Pte Ltd (DSPL) is currently on an exempt Payment Services Act status, and undergoing the license (for a few payment license categories) review process with the Monetary Authority of Singapore. Whilst being exempted and legally able to issue DXST tokens in Singapore, DSPL recently (23rd April) submitted a revised business plan and organization chart reflecting the outline of Project DexStar. This was following the acquisition of the entity earlier in 2021.