Meet CEO Krzysztof Gagacki: The Visionary Behind AirMoney and Its Sleek, Futuristic DeFi Hardware
The ‘Decentralized Physical Infrastructure Network’ also known as DePIN, is a revolutionary new concept that aims to disrupt the traditional financial system by providing decentralized infrastructure for money transfer and storage. This innovative technology has caught the attention of many innovators, including Krzysztlf Gagacki. With the need for a DePIN specific device, Gagacki created AirMoney – a user-friendly and secure device designed specifically for DePIN transactions.
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In this interview, we sit down with Krzysztof Gagacki, the CEO and founder of AirMoney, as he announces his latest project and shares his insights on the future of DePIN technology at Token2049.
How The Idea of AirMoney Came to Be
As someone that has been in crypto since early 2016, Krzysztof explained that he started his Web3 journey with an Ethereum lottery game. The problem with this endeavor was that at the time Crypto Kitties came onto the scene and although it brought attention to the Ethereum blockchain, the network was not able to handle the capacity at the time efficiently and gas fees skyrocketed. This issue highlighted the need for a DePIN network that could handle high transaction volume without increasing fees.
Despite the digital successes that Krzysztof had achieved with the lottery game, he wanted to expand into something more, something more physical. With a Web3 hardware solution designed for DePIN, users can interact with Web3 protocols in a unique way. The term ‘AirMoney’ is relatable to most people and Krzysztof wants to onboard non-crypto natives to the decentralized world through this device.
“You are basically making money out of air.”
Krzysztof Gagacki
Although the device itself is set to be a physical representation of Web3, the name ‘AirMoney’ attests to how when users trade tokens, they are in a way making money out of thin air. Obviously, the money in the form of crypto is coming from the liquidity but this industry makes it seem like it is that easy to create wealth out of thin air as a trade exchanges value to the user.
AirMoney Degn Device vs Other Options
AirMoney empowers users to operate nodes, earn tokens via Proof of Activity, and participate in trading, staking, and gaming, all within a fully decentralized, standalone device. Each device includes a Node that users can activate during setup to join the network and begin earning tokens through Proof of Activity. This represents a transformation from mere storage devices to fully interactive, standalone ecosystems, enabling users to take control of their crypto experience in innovative ways.
Krzysztof Gagacki also explains how there is a gap in the market with only hot wallets or cold storage options for crypto users. Most wallets out there only have one use case. Storing and managing tokens. With the AirMoney Degn Device, it offers a multi-functional approach to managing and interacting with Web3 protocols. Not only can users securely store their tokens, but they can also actively participate in the ecosystem.
“We had cold storage for the past few years and nothing has changed with the industry has changed a lot.”
Krzysztof Gagacki
AirMoney is also looking to make the entire process of moving stored funds into the trading game easy and frictionless. For other options, users may have to go through multiple steps and potentially pay high transaction fees to transfer their funds from storage into a trading platform. Trading opportunities don’t always last long, so the ease and speed of being able to move funds from storage to trading can make a huge difference in capitalizing on potential gains.
Ease of Use and Storing Funds With Freedom
Web browser based wallets such as MetaMask have made it possible for users to interact with decentralized applications (dApps), but the process of moving and storing funds is still limited by the user’s ability to access a computer or mobile device. The AirMoney Degn Device aims to bridge this gap by providing a hardware option that allows users to easily move and store their funds without the need for a traditional computer or mobile device.
Applications are also limited by Apple and Google’s strict guidelines, making it difficult for certain dApps to be accessible on mobile devices. With the AirMoney Degn Device, users have the freedom to access any dApp without restrictions. As one simple device that’s easy to carry around, users can securely interact with any dApp on the go as it also has WiFi connectivity.
When it comes to the storage and security functions, the AirMoney Degn Device uses MPC (Multi-Party Computation). This means the user’s private keys are split into three parts. The first part is stored on the device itself while the other part is decentralized and the final part is kept by the user. This makes it much more difficult for hackers to access all three parts and gain control of a user’s funds.
“We only store a fragment of your private key on the chip.”
Krzysztof Gagacki
This new storage device also has benefits when it comes to recovering funds. If someone has 2/3 of their private keys, they can still recover their funds without the need for a centralized authority. This allows for more freedom and control over one’s own assets. As long as they have two out of three keys, they can access their funds.
Final Thoughts
By targeting the people that want to do more than just keep their assets safe, AirMoney is paving the way for a new era of decentralized finance. With connections to both decentralized and centralized exchanges, the AirMoney Degn Device offers security and accessibility for all types of users. Currently they are partnered with ByBit for their centralized exchange but there is no reason they can’t expand to other exchanges in the future.
With optimistic roadmaps for the brand and product releases in the works, it’s an exciting time to be in the world of decentralized finance. As technology continues to evolve, it’s important for users to stay educated and informed on the latest innovations in the space. And with companies like AirMoney pushing the boundaries of what’s possible, the future of decentralized finance is looking bright.
There are 100,000 nodes/devices expected to hit the market and many are already sold out to partners. With the ability to stake right away as soon as the device is ready and an associated cryptocurrency in planned, AirMoney is set to soar to new heights.